Gulf Keystone Petroleum Share Discussion Threads

[oil_investor] 14/10/2016 09:41

Nicebut claims that GKP published a figure of 12.8 billion barrels of Reserves. Which he claims was a typo.

He has got it all wrong, because that is NOT what they said at all.

[deanroberthunt] 14/10/2016 09:40

whatever happened to dear old Lenny?

[gkphero] 14/10/2016 09:40

Agree.

All offer and excess shares bought at 0.83p will make money here.

[zengas] 14/10/2016 09:38

The bondholders and those now converted who make up roughly 85% of the new shareholding could push for the DNO deal to be considered now.

They would get immediate part cash.
They could ride a DNO recovery in it's stock price and still have exposure to Shaikan/Kurdistan.

Shaikan could be run under the DNO board - shareholders benefit from greater production/revenue and wider assets.

No need for a large board/GKP here running the single Shaikan asset thus cutting costs.

It's going to take investment money as they have said - just to maintain 40k gross/day circa 24k bopd net.

To get to 55k is only going to give them a net increase of 9k bls and at considerable re-investment cost.

Where's the growth for shareholders over 1-2 years unless there is a major uplift in the oil price and/or a better payment set-up.

Dno would wipe out GKP board cost and have far more significant capital and production/income to push Shaikan much further/faster along and at reduced costs as seen at Tawke where production there is set to materially increase.

To me there is still no stand out rationale to invest in GKP. If you were a major holder via the restructuring i'd think there is much to merit the DNO offer at the moment for the reasons above.

[deanroberthunt] 14/10/2016 09:38

post restructing there is parity between new shareholders and bondholders.

[oil_investor] 14/10/2016 09:37

Oh dear.

Nicebut is unable to explain his "typo" figure about the 12 billion barrels of Reserves.

Because it's wrong.

[gkphero] 14/10/2016 09:36

At last what's good for the bondholders is good for long-term PI's who filled their boots with offer and excess shares at 0.83p.

[gkphero] 14/10/2016 09:35

dosh, the bondholders will want to actually make something here.

We are not talking about daft PI's anymore, as they are history.
GKP is now owned by bondholders and they need more than 0.83p to break even, as the share issue stands today.

[deanroberthunt] 14/10/2016 09:35

yup, but they'll want more than 1.1p

[doshdabbler] 14/10/2016 09:32

It will be like Lonmin, without the subsequent rise. Dip below the swap price, consolidate, then dip another 20%.

It's Kurdistan. BHs want out.

[deanroberthunt] 14/10/2016 09:32

can't say that mate.....the market is fickle, but I'll be buying some more if it does.

[gkphero] 14/10/2016 09:31

cut, all the offer plus excess shares will make money here.

[deanroberthunt] 14/10/2016 09:31

this is going to be flipped, for a quick profit.

[gkphero] 14/10/2016 09:30

dean, so in theory, we won't see the share price fall below 1p here, ever.

[deanroberthunt] 14/10/2016 09:30

think of it, like doing a house up, painting all the walls magnolia and putting brand new carpets in....

[cutthecagain] 14/10/2016 09:30

They're probably expecting a takeover

No doubt there'd be no objections from the KRG this time, they get to bury the history, write off the money they owe and keep their %. What's not to like?

Pie in the sky figures won't happen though and most shareholders won't make their money back IMO.

Note holders and KRG will do well.

[gkphero] 14/10/2016 09:30

Agree dean.

[doshdabbler] 14/10/2016 09:30

There is no loss. Even at 0.5p, noteholders are getting triple what they would have got selling their bonds.

[deanroberthunt] 14/10/2016 09:29

forget about the selling bit...it's been restructured for a sale....end of

[deanroberthunt] 14/10/2016 09:29

indeed, GKP won't be here in 6-9 months time, it'll have been taken over.

[gkphero] 14/10/2016 09:28

Yes dean, that is the only "out" for the bondholders.

Selling 21 billion shares on the open market isn't going to work.

[gkphero] 14/10/2016 09:28

dean, the bondholders won't be able to sell many at 1.1p without crashing the share price below the strike price of 0.83p.

They will then be selling at a loss.

[deanroberthunt] 14/10/2016 09:27

over 1.1p, DNO had already offered 1p

[deanroberthunt] 14/10/2016 09:27

they'd take a bid.