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GKP Gulf Keystone Petroleum Ltd

130.70
-1.90 (-1.43%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Gulf Keystone Petroleum Investors - GKP

Gulf Keystone Petroleum Investors - GKP

Share Name Share Symbol Market Stock Type
Gulf Keystone Petroleum Ltd GKP London Ordinary Share
  Price Change Price Change % Share Price Last Trade
-1.90 -1.43% 130.70 16:35:27
Open Price Low Price High Price Close Price Previous Close
132.50 130.30 134.40 130.70 132.60
more quote information »
Industry Sector
OIL & GAS PRODUCERS

Top Investor Posts

Top Posts
Posted at 06/6/2024 20:49 by confused _gerbill
richscotsman. As soon as they list on a US Exchange they become subject to: US regulatory oversight, under an adminstration that is anti-oil companies and 50-50 to win the next election, AND US investors are strongly opposed to large dividend payouts, favouring capital growth. Look what happened to Diversified Energy, 30% dividend cut to 10% partially under pressure from US investors following a US listing and a lot of grief in committees because the Democrats can have a say in the company now. So no big dividends, and no big capital growth because of the Middle East instability.
Posted at 05/6/2024 10:55 by martyre
There is no comparison to Gamestop.With Gamestop 100% of the shares wereshorted and retail investors with the power of social media bought in heavily to burn the shorters.With less than 1% of GKP being shortedclearly only investors who have believed the 'GKP has been sold' hype have got burnt.
Posted at 21/5/2024 07:18 by habshan
RNS.

Notice of Annual General Meeting.

Gulf Keystone's 2024 AGM will be held on Friday 21 June 2024 via webcast at 9 A.M. (BST).

Following the publication of the Company's Annual Report and Accounts for the year ended 31 December 2023 ("the Annual Report") on 25 April 2024, the Notice of Annual General Meeting ("AGM") and accompanying forms of proxy and instruction have today been posted to shareholders, as required.

All documents are available to view on the dedicated AGM page of Gulf Keystone's website (www.gulfkeystone.com/investors/agm) and have also been submitted to the National Storage Mechanism.

The AGM will be held via webcast which all Gulf Keystone shareholders are invited to view. Voting of the resolutions at the AGM will be conducted by a poll and we strongly encourage shareholders to vote on all resolutions in advance of the meeting. Shareholders are kindly requested to appoint the Chairman as their proxy when voting.

Full details of the operation and arrangements for the AGM, as well as instructions for joining the webcast and voting, are available on Gulf Keystone's website (www.gulfkeystone.com/investors/agm) and in the Notice of AGM. Any shareholders who wish to ask a question for consideration at the AGM are encouraged to send it in advance to investorrelations@gulfkeystone.co.uk.
Posted at 01/4/2024 08:53 by beernut1
Oil rises as investors bet on tighter supply, China's economy
Economy
Oil
China
Oil rises as investors bet on tighter supply, China's economy
2024-04-01 07:36


Font
Shafaq News / Oil prices rose on Monday, adding to recent gains amid expectations of tighter supply from OPEC+ cuts, attacks on Russian refineries and as upbeat Chinese manufacturing data supported outlooks for improving demand.
Brent crude rose 29 cents, or 0.3%, to $87.29 a barrel by 0331 GMT after rising 2.4% last week. U.S. West Texas Intermediate crude was at $83.48 a barrel, up 31 cents, or 0.4%, following a 3.2% gain last week.
Trade volumes are expected to be thin on Monday as several countries are closed for Easter holidays.
Both benchmarks finished higher for a third consecutive month in March, with Brent holding above $85 a barrel since the middle of last month, as the Organization of the Petroleum Exporting Countries (OPEC) and their allies, a group known as OPEC+, pledged to extend production cuts to the end of June which could tighten crude supply during summer in the Northern Hemisphere.
Russian Deputy Prime Minister Alexander Novak said on Friday that its oil companies will focus on reducing output rather than exports in the second quarter in order to evenly spread production cuts with other OPEC+ member countries.
Drone attacks from Ukraine have knocked out several Russian refineries, which is expected to reduce Russia's fuel exports.
"Geopolitical risks to crude and heavy feedstock supplies add to strong Q2 24 demand fundamentals," Energy Aspects analysts said in a note.
Almost 1 million barrels per day (bpd) of Russian crude processing capacity is offline from the attacks, impacting its high-sulphur fuel oil exports which are processed at Chinese and Indian refineries, the consultancy added.
In Europe, oil demand was firmer than expected, rising 100,000 bpd on year in February, Goldman Sachs analysts said, versus its forecast of a 200,000 bpd contraction in 2024.
Europe's firm demand, softness in U.S. supply growth coupled with a possible extension of OPEC+ cuts through 2024 outweigh downside risk from persistent softness in China's demand, they said in a note.
Crude oil production by the United States, the world's largest producer, dropped 6% in January from December's record high, following freezing weather, data from the Energy Information Administration showed on Friday.
"We see the risks to our forecast that Brent will average $83/bbl in 2024Q4 as skewed moderately to the upside," the analysts said.
Also supportive for prices, China's manufacturing activity expanded for the first time in six months in March, an official factory survey showed on Sunday, supporting oil demand at the world's largest crude importer, even as a crisis in the property sector remains a drag on the economy.
Investors are also scouring U.S. economic data for signs of when the Federal Reserve will cut interest rates this year which will support the global economy and oil demand.
Posted at 21/3/2024 09:59 by mmt1
Investor & analyst presentation



GKP's management team will be hosting a presentation for analysts and investors at 10:00am (GMT) today via live audio webcast:

hxxps://brrmedia.news/GKP_FY23


Management will also be hosting an additional webcast presentation focused on retail investors via the Investor Meet Company ("IMC") platform at 12:00pm (GMT) today. The presentation is open to all existing and potential shareholders and participants will be able to submit questions at any time during the event.

hxxps://www.investormeetcompany.com/gulf-keystone-petroleum-ltd/register-investor
Posted at 02/3/2024 12:13 by punter26
American energy expert: Kurdistan Region is the most suitable place for investments

(PeyamaKurd - 2.03.2024 )


"Energy expert Matthew Zeiss stated that there are investment opportunities in the Kurdistan Region and said that Kurdistan is the most suitable place for investment compared to other regions of Iraq.

Zeiss stated that there are many investment opportunities in the Kurdistan Region, especially in the field of agriculture, and said, "There are many investment opportunities in the Kurdistan Region, especially in the field of agriculture. The opportunities provided by the government have drawn the world's attention to investing in the Kurdistan Region. Kurdistan Region can become Iraq's food basket by industrializing its agriculture, this is a very important success in itself."

Matthew Zeiss said about the visit of the delegation of the Kurdistan Regional Government to the United States, "The goal of the government delegation in Washington is to stabilize the security of the Kurdistan Region and make more American companies invest in the Kurdistan Region."

The American expert pointed out that the Kurdistan Region is the most suitable place for investments compared to other regions of Iraq, because its economy is diverse and said, "America can play an important role in restoring the Kurdistan Region's oil exports. Turkey has announced that it is ready to restart the oil pipeline to the Kurdistan Region and there is no problem for the oil pipeline, now it is Baghdad's turn to approve the restart of the process. Unfortunately, the situation in Baghdad is as follows: "Some parties don't want the oil export to continue, so the US needs to put pressure on Baghdad. If the oil export to the Kurdistan Region is not started again, it will affect the political stability in Iraq and the price of the world oil market."
The American expert Zeiss pointed out that the Kurdistan Regional Government has initiated economic reforms to diversify its economy and said, "The Kurdistan Region exported pomegranates and honey. Kurdistan is a major agricultural producer and has a good potential to become an exporter, not an exporter.

The President of Erbil Chamber of Commerce and Industry Geylan Haji Said said about the investments in the Kurdistan Region, "The Kurdistan Region, which has a suitable geography in terms of investment, stands out with its stability."

Haji Said pointed out the importance of Prime Minister Masrur Barzani's visit to the United States and said: "It was a very important visit. We expect many American investors to visit the Kurdistan Region and invest in different sectors. The United States needs its support for the region. "Prove Kurdistan. Because, as he explained, they have strong economic relations, especially with trade partners."
Haji Saeed pointed out that the investment laws in Kurdistan encourage investors and said that the Kurdistan Region gives the most opportunities for foreign investors to come to the Kurdistan Region, evaluate investment opportunities and start working.
On Thursday 29.02.2024, the American Chamber of Commerce welcomed Prime Minister Masrur Barzani.

At the reception, which was attended by many officials, employers, investors and personalities of the Kurdish diaspora in America, President Barzani thanked the support and friendship of America and its companies for investments in the Kurdistan Region.

The prime minister also emphasized on the reform agenda of the ninth cabinet in the field of economic diversity and building a strong infrastructure in the Kurdistan Region and requested American companies and investors to visit the Kurdistan Region and find investment opportunities in different fields."
Posted at 02/3/2024 12:12 by punter26
A rare photo showing HKN Energy's Matthew Zais looking uncharacteristically happy! :) - taken two days ago. (Punter26)


Matthew Zeiss: Kurdistan is the best place to invest compared to other parts of Iraq

Kurdistan24

"After the visit of Prime Minister Masrour Barzani to the United States, a large number of US investors are expected to come to the Kurdistan Region, an energy expert says: investment and opportunities in the Kurdistan Region are many. “We have a strong relationship with the US Chamber of Commerce.

Matthew Zeiss, an energy expert, and Gaylan Haji Saeed, president of the Erbil Chamber of Commerce and Industry, spoke about the visit of the Kurdistan Regional Government (KRG) Prime Minister to the United States It will focus on the economic and political situation in the Kurdistan Region. The two sides also discussed the investment opportunities in various sectors and the facilities provided by the Kurdistan Regional Government to investors in this field.

At the beginning, Matthew Zeiss, an energy expert, said that there are many investment opportunities in the Kurdistan Region, especially in the field of agriculture, which has a very good opportunity, the opportunities in the Kurdistan Region are very different.

The energy expert also mentioned the facilities of the Kurdistan Regional Government in this sector and said: There are many investment opportunities in the Kurdistan Region in most sectors, especially in the agricultural sector, and the facilities of the Kurdistan Regional Government in this field The eyes of the world should be on investing in the Kurdistan Region.

“The Kurdistan Region can industrialize its agriculture to become a basket of food for Iraq and export it, which is a very important achievement in itself,” he said.

Matthew Zais, spoke about the visit of the Kurdistan Regional Government delegation to the United States and said that the government delegation in Washington aims to stabilize the security of the Kurdistan Region and to attract more US companies to invest in the Kurdistan Region.

The energy expert pointed out that the Kurdistan Region is the best place for investment compared to other parts of Iraq, because the Kurdistan Region has a diversified economy and there are investment opportunities in different sectors.

"The United States can play an important role in resuming oil exports from the Kurdistan Region, while the Turkish government has said the pipeline is ready and they have no objection to resuming it," he said "Obviously, some forces in Baghdad do not want to resume oil exports, so the United States must put pressure on Baghdad," he said.

"Until the Kurdistan Region resumes oil exports, it will affect political stability in Iraq, the pressure on the region will continue, and will also affect oil prices in the world markets," he said.

"It is very important for the Kurdistan Region to resume oil exports, and it is also very important for the United States," Zeiss said.

The energy expert, in his speech, considered it necessary to talk about economic reform, in this regard, pointed out that the Kurdistan Regional Government has launched economic reform to diversify its economy. “As we have seen, the Kurdistan Region exported pomegranates and honey, and Kurdistan has good potential to become a major agricultural producer, an exporter rather than an importer,” he said.

For his part, Gaylan Haji Saeed, President of the Erbil Chamber of Commerce and Industry, expressed his views on investment in the Kurdistan Region, saying: “The Kurdistan Region is an important geographical place for investment, and its stability is distinguished from all other Iraqi cities.

The President of the Erbil Chamber of Commerce and Industry said that the opportunities for investment in the Kurdistan Region are very important, and there are investment opportunities in many different sectors.

Gaylan Haji Saeed, on the importance of Prime Minister Masrour Barzani's visit to the United States, said: "It was a very important visit, and we expect a large number of US investors to visit the Kurdistan Region and invest in different sectors.

The President of the Erbil Chamber of Commerce and Industry said that the United States must prove its support for the Kurdistan Region, because as he points out, they have a strong economic relationship with the United States, especially with their Chamber of Commerce.

He hoped that the United States will increase the number of companies in the Kurdistan Region, in order to further revive the region's economy. He added that the Kurdistan Region has provided the most facilities for foreign investors to come to the Kurdistan Region and see investment opportunities and start working.

Gaylan Haji Saeed, pointed out that the investment laws in Kurdistan are an incentive for investors, and stressed that the progress of the Kurdistan Region is proof that there are many investment opportunities.

The US Chamber of Commerce in Washington on Thursday evening (February 29, 2024) organized a meeting to welcome Masrour Barzani, Prime Minister of the Kurdistan Regional Government.

In the reception, which was attended by a large number of prominent US officials, employers and investors and several Kurdish diaspora personalities living in the United States, Prime Minister Masrour Barzani delivered a speech and thanked the friendship and support of the US and US companies for their investments in the Kurdistan Region.

The Prime Minister also referred to the reform agenda of the ninth cabinet in the field of economic diversification and building a strong infrastructure in the Kurdistan Region, and called on US companies and investors to visit the Kurdistan Region and see investment opportunities in various fields."
Posted at 28/2/2024 11:41 by shareho1der
Update on Shaikan Field local sales & Notice of 2023 Full Year ResultsToday 07:00Gulf Keystone Petroleum Ltd (GKP) Update on Shaikan Field local sales & Notice of 2023 Full Year Results 28-Feb-2024 / 07:00 GMT/BST 28 February 2024 Gulf Keystone Petroleum Ltd. (LSE: GKP)("Gulf Keystone", "GKP", "the Group" or "the Company") Update on Shaikan Field local sales & Notice of 2023 Full Year Results Gulf Keystone, a leading independent operator and producer in the Kurdistan Region of Iraq, is today providing an update on Shaikan Field local sales ahead of its 2023 Full Year Results on 21 March 2024. Local sales update Local sales volumes have rebounded in recent weeks with gross average sales this month to 26 February of c.38,400 bopd, reflecting higher market demand for certain refined products, the easing of seasonal logistic challenges and a realised price of c.$25/bbl. The increase has brought gross average sales in 2024 year to date to c.29,600 bopd. At current volumes and realised prices, sales for February 2024 are expected to be c.$10m net to GKP, above expected monthly net capex and costs of c.$6 million (breakeven at gross sales of c.22,200 bopd), enabling the continued reduction of accounts payable balances. The Company continues to receive advance payments for its net entitlement of 36% of gross sales revenue. Looking ahead, while we expect demand in 2024 to remain variable, we see strong local market demand as we enter March and are looking to increase sales above current levels. Notice of 2023 Full Year Results The Company confirms it will be announcing its results for the full year ended 31 December 2023 on Thursday 21 March 2024. GKP's management team will be hosting a presentation for analysts and investors at 10:00am (GMT) via live audio webcast: https://brrmedia.news/GKP_FY23 In addition, management will also be hosting a webcast presentation focused on retail investors via the Investor Meet Company ("IMC") platform at 12:00pm (GMT). The presentation is open to all existing and potential shareholders. Questions can be submitted prior to the event via the IMC platform up until 9:00am (GMT) the day before the meeting, or at any time during the live presentation. Investors can sign up to IMC for free using the following link: https://www.investormeetcompany.com/gulf-keystone-petroleum-ltd/register-investor Enquiries: Gulf Keystone:+44 (0) 20 7514 1400Aaron Clark, Head of Investor Relations& Corporate Communications aclark@gulfkeystone.comFTI Consulting+44 (0) 20 3727 1000Ben BrewertonNick HennisGKP@fticonsulting.com or visit: www.gulfkeystone.com Notes to Editors:Gulf Keystone Petroleum Ltd. (LSE: GKP) is a leading independent operator and producer in the Kurdistan Region of Iraq. Further information on Gulf Keystone is available on its website www.gulfkeystone.com Disclaimer This announcement contains certain forward-looking statements that are subject to the risks and uncertainties associated with the oil & gas exploration and production business. These statements are made by the Company and its Directors in good faith based on the information available to them up to the time of their approval of this announcement but such statements should be treated with caution due to inherent risks and uncertainties, including both economic and business factors and/or factors beyond the Company's control or within the Company's control where, for example, the Company decides on a change of plan or strategy. This announcement has been prepared solely to provide additional information to shareholders to assess the Group's strategies and the potential for those strategies to succeed. This announcement should not be relied on by any other party or for any other purpose.Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
Posted at 03/1/2024 15:45 by habshan
justiceforthemany - "1 million a day payable to Turkey by Baghdad each day the pipeline remains offline."

Talking about justice for the many.

In my opinion, once the IOCs have secured their legal rights in a cast iron agreement and the oil is flowing again both they and Turkey should head straight to the International Court of Arbitration to seek redress for the immense harm that they've suffered at the hands of the Iraqi Government through no fault of their own over the last almost two decades.

If it hadn't been for the shenanigans of politicians in Baghdad who through arrogance and ignorance thought they could ride roughshod over international law and the Iraqi constitution GKP would have been producing 100kbpd ten years ago, there would have been no restructuring, we'd have been receiving regular dividends and it would all look very different.

Under international law the PSCs are and always have been legal and under international law we are entitled to redress, both the IOCs and we their investors are entitled to appropriate compensation.

It galls me to think that once the oil is flowing again the ICG could be allowed to just walk away from the mess they created put it all behind them and carry on regardless as though nothing had happened.

International Arbitrator Jeffrey Sullivan KC who sits on the London Court of International Arbitration:-

Question (Rudaw) - What are the legal avenues that an IOC may use to seek redress for harm they may suffer?

Answer - "There are two avenues. One is investment arbitration, Iraq has entered into international treaties with 3rd countries that provide protection for foreign investors and those investors have the right to seek redress in international arbitration. The second is that there are contractual relationships with the KRG which tend to be governed by English law and the Federal Government could also be held liable under those contracts."

Question (Rudaw) - Would the ruling by the Supreme Court itself be considered a violation?

Answer - "There is the potential for a violation if the contracts were not honoured. Under the investment treaties there's a very good chance they've already violated those investment treaties because the decision of the court itself interferes with the investors investments so if we're looking at redress under investment treaties there's the possibility that the Government of Iraq has itself violated those treaties through the decision of the Supreme Court."
Posted at 17/11/2023 13:21 by habshan
The ICG/SOMO are in a tough spot of their own making, a mountain of face saving required.

Ttiao yesterday - "Iraq has become a member of the European Bank for Reconstruction and Development (EBRD). It means, Iraq can apply for the Bank's finance and policy support to develop Iraq's economy further, above all the private sector."

The European Bank for Reconstruction and Development (EBRD) is an international financial institution founded in 1991. As a multilateral developmental investment bank, the EBRD uses investment as a tool to build market economies.

With the biggest single shareholder being the United States the EBRD is owned by 71 countries and two European Union institutions.

Having just become the 74th member of this institution so that they can access investment to build Iraq's economy "above all the private sector" I find it hard to imagine that even the ICG will as their first act after joining, demonstrate they are unwilling to honour legally binding internationally recognised contracts and are prepared to ignore and violate every international treaty they have signed that exist to protect international investors and their investments thereby causing APIKUR to drag them through international courts for years fighting a case that both the ICG and the international investment community know the ICG would lose.

Rudaw interview with international arbitrator Jeffrey Sullivan KC who sits on the London Court of International Arbitration:-

Question (Rudaw) - What are the legal avenues that an IOC may use to seek redress for harm they may suffer?

Answer - "There are two avenues. One is investment arbitration, Iraq has entered into international treaties with 3rd countries that provide protection for foreign investors and those investors have the right to seek redress in international arbitration. The second is that there are contractual relationships with the KRG which tend to be governed by English law and the Federal Government could also be held liable under those contracts."

Question (Rudaw) - Would the ruling by the Supreme Court itself be considered a violation?

Answer - "There is the potential for a violation if the contracts were not honoured. Under the investment treaties there's a very good chance they've already violated those investment treaties because the decision of the court itself interferes with the investors investments so if we're looking at redress under investment treaties there's the possibility that the Government of Iraq has itself violated those treaties through the decision of the Supreme Court."

Question (Rudaw) - Is it possible that an International Court or any other International Institution can legally have the right to make any ruling about a ruling from the Supreme Court of a country.

"One of the main purposes of the international investment treaty regime is to protect investors from unreasonable and arbitrary decisions from domestic courts. So investment treaty tribunals very often review decisions by the highest courts of countries to determine if those decisions violate the other obligations that those countries have entered into under those investment treaties, so absolutely tribunals have the ability to review those decisions".

And as Shuan Zulal, Managing Director at Carduchi-Kurdistan oil & gas. A Research Associate at the European Centre for Energy and Resource Security (EUCERS), Kings College London said only a few days ago:-

"The companies can file a complaint and the court will probably decide in favor of the companies. The Iraqi government does not put pressure on the companies because it knows it will be harmful and that if the companies take the complaint to court that will not be in the interest of Iraq."

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