Gulf Keystone Petroleum Share Discussion Threads

[mr roper] 17/10/2016 10:44

should be a clear run to 2p

[joseki] 17/10/2016 10:43

Financial Times, Lex
OCTOBER 14, 2016

Gulf Keystone: well, well
More sceptical and regular reserve audits of explorers and producers are needed

Oil is bubbling, so to speak — so much so that last week a small IPO of a US explorer garnered excited coverage. Good news for explorers seeking capital to keep up that flow of oil. But as one funding spigot clears, an important drain remains clogged: weak companies can stay solvent for longer on higher commodity prices.

A case in point is UK-listed Gulf Keystone, which on Friday completed a swap that converts $500m of debt into shares. This will stall the possible closure of a company which seemed likely to shut its doors ages ago. Years of mismanagement and misadventure, admittedly by former executives, led to the latest restructuring. This move dodges a bid for its assets by Norway’s DNO — which like Gulf Keystone also operates in Kurdistan.

Could all of this been prevented? The unpredictable nature of Kurdistan politics will get some of the blame for Gulf Keystone’s disarray. Yet more sceptical, regular audits might have caught out its poor estimates of the economic viability of its oil reserves earlier. Canada requires a specialist to do this for any company’s oil and gas reserves (it is known as a National Instrument 51-101 report). The UK lacks this requirement, as does the US, though the SEC keeps a wary eye.

Regular reports like these may well bring howls of complaint. But those confident in their estimates should not mind. The strong may even welcome this since the current system lets those at fault hide in plain sight. The small investor needs protection. This state of affairs should not continue.

[deanroberthunt] 17/10/2016 10:42

or sambuca even, {hic}

[deanroberthunt] 17/10/2016 10:42

I do like an espresso with a shot of sambuka.....

[shaftdrive1] 17/10/2016 10:40

Skinny latte? Fadge's drink...man up and get dbl shot cappuccino...if it's was good enough for Black Bart .....💪

[fairenough11] 17/10/2016 10:40

"My guess re price action today is that an activist is trying to mop up the bondholders stock with a view to pressing for a robust bid defence or higher price from DNO"

Nah it's the BOD putting SKIN IN THE GAME:-)))

[mr roper] 17/10/2016 10:40

nice work, ccr!

[deanroberthunt] 17/10/2016 10:39

cheap under 10p

[tess_tickle] 17/10/2016 10:39

Baghdad will cut off the budget

when the Kurds don't give back Kirkuk.

[deanroberthunt] 17/10/2016 10:37

aye, just a pre brunch skinny latte mull from me.

[sawadee3] 17/10/2016 10:36

Nice trade. Happy to ride it up :-)

[shaftdrive1] 17/10/2016 10:35

Ccr,how long have you held pre OO stock for? Just a psychological mull!

[deanroberthunt] 17/10/2016 10:35

then a final push over the top sucks to you Arabs final victory in the reservoir, 200sma 7p....

[richie666] 17/10/2016 10:35

My guess re price action today is that an activist is trying to mop up the bondholders stock with a view to pressing for a robust bid defence or higher price from DNO. We will be releasing a blog in this vein hopefully tomorrow.

[shaftdrive1] 17/10/2016 10:34

Can't think that lth's,lets say,circa 30p,are happy this am.it's under 2p and its causing delirium? HAVING to buy more stock to get your abp down to johns level of 3p (I've done the figs on that btw) isn't my way of investing,but for the geniunes here (you know who you are 😍) good luck on a move into profit....now,back to the script/entertainment arf

[deanroberthunt] 17/10/2016 10:33

can see the 20 and 50 sma's getting done this week...maybe sooner :)

[ccr1958] 17/10/2016 10:33

Mr R I bought a rake of these Friday at1.19 so with the dream team all good !!!

[deanroberthunt] 17/10/2016 10:31

Fatalism states 2p today

[trader11] 17/10/2016 10:30

auction and folks bidding 139.5

[shaftdrive1] 17/10/2016 10:29

Aim? You got something in yer sites,drh? 😂

[tess_tickle] 17/10/2016 10:29

Open Offer = BAIT

HOLDING THE BABY : PUNKS

[mr roper] 17/10/2016 10:28

ccr, PXOG/FBT..dream team..lol

[withoutt] 17/10/2016 10:28

Dean, we're not on Aim.