Gulf Keystone Petroleum Share Discussion Threads

[slider27] 24/10/2016 19:10

OI as a man of standing how would you classify the below transaction ?

Earlier this year GKP swap 3,5 % of SH for 100 mil$ with the KRG and a couple of months later give the note holders 37,7 % of SH for 150 mil $

all above board or ?

[bigdog5] 24/10/2016 18:55

oliver, The MNR have ignored the terms of the PSC. That document is worthless. As you've pointed out recently swapping at least $100m debt owed by the MNR for an extra 3.6% of shaicon and a reduction in tax has proved to be totally pointless. Wtf was Ferrier thinking of? We needed money not a paltry 3.6% at a licence that had been mortgaged to the senior BH's by the incompetent CFO. I argued at that time with the fake reverend, who believed it a great piece of negotiation, that it was garbage. Perhaps posters get it now.

[forwood] 24/10/2016 18:54

Presumably the former bond holders are a disparate lot. Some may be prepared to sell for 50%, others to wait for 500%. The key question is the perceived value and return on alternatives. So, 50% may be good but I then have to find an alternative home for my money that's going to give me another 50%. If that is here, then I'm not going to settle for 50%. Simples!

[oil_investor] 24/10/2016 18:46

Oh dear.

slider27 accuses the Board of Directors of criminal conduct.

I'm not entirely sure that's a good idea, or quite why an admitted non-shareholder would make such an allegation.

[slider27] 24/10/2016 18:43

Roverite

What struggle ? our BOD handed it to them on a plate

50% profit is a great result for somebody with brains and if you think the BOD and the KRG will act in the interest of shareholders you can think again as a leopard never changes its spots

[oil_investor] 24/10/2016 18:39

roverite12: slider27 made it very clear on 13 October that they would never invest in GKP.

I would quote Lord Justice Christopher Clarke to slider27: "then why are you here?"

Incidentally, there were three specific conditions (a), (b) and (c) which the (former) bondholders required the KRG to comply with, before the restructuring could be completed. They all concern the situation going forward, and IMO all three are significant.

[roverite12] 24/10/2016 18:34

Why make a small profit when you make a big profit ?

Anyone with a brain tries to maximise a profit .

The struggle for this company hasn't been over a 50% profit !

[slider27] 24/10/2016 18:28

Surfer2
If they did so they’d be even stupider than us ‘Muppets’;

No they are cleverer than us muppets who waited years for real value at at the end got jack
These guys dont fall in love with shares!
Its thier job to make money for investors and i am sure with a 50% profit they will be happy and thier investors over the moon

[roverite12] 24/10/2016 18:27

cheap take over or dump thats the Q ?? Its coming

----------------------------------------

There is a third option , slider .

A takeover - in time - for fair value .

If you don't believe that's a distinct possibility then there's really no point in you being here .

If you don't believe there's a massive amount of oil there then there's no point you being here .

It's very simple . You believe there's future value ....or you don't . If not then why waste time here ?

[oil_investor] 24/10/2016 18:25

SURFER2: the Sheikh Adi footwall is simply the West end of Shaikan and is integral with it. This was not known when the blocks were drawn up by the MNR, it was discovered later from the seismic and the pressure testing. The Sheikh Adi hanging wall (where the formations West of the massive slip fault have risen up by hundreds of metres, forming the seal) is not connected to Shaikan.

[surfer2] 24/10/2016 18:18

Id be amazed if anyone who has gained 65% control of a ?? Billion Barrel Oil field would sell out a few weeks later for a gain of 75 million$

[slider27] 24/10/2016 18:15

Nobody connected in anyway with GKP past and present would lie would they O.I ? Lol
Who are you trying to kid ?

Value ? What value ? You mean the value already taken buy the noteholders BOD past and present and the KRG ??

[oil_investor] 24/10/2016 18:07

Er...I very clearly said that I was referring to the average. And that the Notes and the Convertibles were different.

The Notes had 40 million Warrants which proved worthless. What were they potentially worth? A great deal of money. Do the sums.

Why should the bondholders pay no attention to the potential value of Shaikan? Why would the Chairman specifically refer to resuming the development of Shaikan, and rebuilding value for all stakeholders? Do you think he is lying?

[slider27] 24/10/2016 17:52

OI 'The claim that the bondholders got their shares for 0.83p each is unsound.'

oh really O.I so the note holders got 65% of GKP for 150 mil $ debt
If you get calculator out you will realise that that these guys have not taken any haircut
They hold 65% of GKP and anything north of 0,83 p they are in the money and you will find if they dump today they would make 75 mil $

cheap take over or dump thats the Q ?? Its coming

[gkphero] 24/10/2016 16:52

Indeed nb.

[nicebut] 24/10/2016 16:49

Reckon you can add another few names to that list JB...

[gkphero] 24/10/2016 16:45

The KRG, Kozel, Ferrier and the city are responsible for this debacle imo.

In that order.

[lobo] 24/10/2016 16:43

You'll feel better if it goes up 0.5p.

[oil_investor] 24/10/2016 16:40

nestoframpers: Stafford said in July 2013 that the [Jurassic] Connected Volume was c. 13 billion barrels. I have discussed this figure with two senior geophysicists, one of them a former colleague of Jon Ferrier. Connected Volume is derived from specialist empirical testing and is *not* the Oil In Place.

The Oil In Place figure did not come from Stafford but from DGA. They gave a P50 of 13.7 billion barrels, but that was given one year prior to Stafford's Connected Volume figure and it included the Cretaceous and Triassic as well as the Jurassic. The P10 figure from DGA was 15 billion barrels; their P5 and P1 were higher but I don't have those figures. BBBS thought that DGA were understating the numbers, there's a long post from him about it. I think there may be an element of SA footwall in the c. 13 billion barrels figure.

I believe there is a very large volume of oil in Shaikan.

[lobo] 24/10/2016 16:38

Were you let off with a warning?

[gkphero] 24/10/2016 16:35

I will post again on takeover day.

Thanks.