Gulf Keystone Petroleum Share Discussion Threads

[deanroberthunt] 14/10/2016 09:25

Yes, Zac is correct in that there may be a bid. But those who own 66% of the equity ( ormer bondholders) will be "in the money" at 1.1p or better. Any predator would have no need to offer much more than that to get its offer across the line. Moreover the bond holders are not penny stock investors and as such they will sell any shares they can at more than 1.1p to reduce their exposure while gettting out at a profit.

That natural arb will see the shares melt down. And that is why Zac is being far too charitable on this occassion although his fundamental valuation range, IMHO, is not far wrong.

[deanroberthunt] 14/10/2016 09:22

if you can't add up you'll never make any money

[cutthecagain] 14/10/2016 09:22

Shareholders have pretty much covered KRG's debt IMO

KRG keep their % of Shaikan though right?

Do you think they'll suddenly play fair in coming weeks/months/years?

What happened to Hawrami's Mrs and her 250 million?

[willoicc] 14/10/2016 09:21

Total shares in issue = c. 23 billion.

Senior bond holders own 65% = c. 15 billion.

Senior bond holders converted $150 million (ignoring outstanding coupon)= c. 1c per share / 1.21 $=£ = c.83p break even.

($100 million of original €250 million converted to new bonds.)

[gkphero] 14/10/2016 09:20

From LSE -


The Bondholders

Today 08:57

have had to take the poison pill and swap the debt for equity at just under 1p, they have lost far more than me on this one, they will be looking to try and make up some of thier lost millions, they might sell out at .8p somehow i doubt it, they will be praying for a turnround in the SP, like most of the current Share holders,

its now in the hands of the BOD and MNR to turn this ship around, looking forward to the 55,0000BPD update,

GLA LTH back to the dark side.

[deanroberthunt] 14/10/2016 09:20

the total number of shares in issue x the share price = mcap

mcap is the valuation the market deems is reasonable given the balance sheet and prospects of the assets at this juncture

alles klar

[deanroberthunt] 14/10/2016 09:19

they're not making much with a b/e of 1.1p

[1302sb] 14/10/2016 09:19

Surely any current holders could sell now and buyback once the OO shares are tradable as we will go below 1p for sure. Why would people be buying now?

[gkphero] 14/10/2016 09:19

Explain dean?

[doshdabbler] 14/10/2016 09:18

23 billion shares and they still have $100m debt. What a deal.

Expecting lower than 0.83p as noteholders grab whatever they can get. They've made a tidy sum from shorting already, so they won't care at what price.

[deanroberthunt] 14/10/2016 09:18

it's called arithmetic dear boy

[deanroberthunt] 14/10/2016 09:16

there's 23 billion shares in issue at GKP, that's a fact, a fact you can't deny

whatever happened to, Leon Trotsky

[lobo] 14/10/2016 09:16

"My impression was that everyone wanted more than 1p."

Everybody wants more, but markets can be fickle and if there is rush for a quick exit, then it can quickly become a stampede.

[gkphero] 14/10/2016 09:16

Who's taken the poison pill?

[gkphero] 14/10/2016 09:15

So if the share price was 1.4p yesterday, then today is should be around 0.01p with 21 billion new shares in issue......lol.

Let's say that again..............21 billion new shares.....lol.....ffs.

[deanroberthunt] 14/10/2016 09:15

for you lot it's RDSA or B....scrip dividend :) ok

[cutthecagain] 14/10/2016 09:15

And receivables also reduced by hundreds of millions as the money owed to the co does a Houdini.

sirmark14 Oct '16 - 09:13 - 522601 of 522607 1 0
Yes but debt reduced by £500mln

[deanroberthunt] 14/10/2016 09:14

look, it's obviously still not for widows or orphans.....

the risk averse, tetchy or skitish need not apply.

[sirmark] 14/10/2016 09:13

Yes but debt reduced by £500mln

[gkphero] 14/10/2016 09:13

But the share price wasn't 23p yesterday cut, it was 1.4p.

[cutthecagain] 14/10/2016 09:12

1p sounds cheap

But people are thinking in old money

With 23bn shares in issue 1p today is yesterday's 23p (approx)

1.2p = 27.6p

[deanroberthunt] 14/10/2016 09:10

puntville tennessee range now ...he who dares