Gulf Keystone Petroleum Share Discussion Threads

[bigdog5] 25/10/2016 23:14

Evidence conclusively proves that poco wouldn't recognize it.

Remind me again about how and why the restructure wouldn't occur whilst you wait for any progress, full value and those elusive Exxom divi's. Oh, and the regular massive payments from the MNR together with all the debt and back costs and a mega pipe and a spur and mobile production units. Did the poison pill get hidden with all those slides and the real CPR's?

In the meantime I'm going to mull over why would GKP require submersible pumps, what on earth could that suggest? You don't think, no of course not, they would have informed their shareholders. You know, the ones that a very well paid BoD are striving to ensure that they deliver value to but did in fact con them out of £millions.

But hey, they'll all forget about it, won't they?

[oil_investor] 25/10/2016 23:09

nestoframpers: three key conditions of the restructuring were in section (e), where GKP were required to agree arrangements with the MNR which were reasonably satisfactory to both the company and the Majority Participating Holders.

These were:

(a) for the Second Amendment to the Shaikan PSC

(b) for the marketing of Shaikan crude, and:

(c) for the predictability of future payments including recovery of past costs and receivables.

These conditions could be waived by the Majority Participating Holders, but if this had been done then GKP would IMO be misleading the market because they are all clearly material and were due to be done. Moreover, why would anyone agree to the waiver of such important items with a full two months left on the restructuring timetable, which could in any case be extended (into 2017) by the bondholders? Surely they would tell GKP to go back to the MNR and sort it out.

Those three sections cover the formalisation of the increase from 54.4% to 58% of Shaikan, the reduction in tax from 40% to 30%, future payments and arrears payments. These are all of considerable importance, of course.

With production costs already cut to an exceptionally low $4 a barrel, the annual bond interest now just under $10 million per annum, and oil prices better than they have been for some time, GKP should now be operating profitably.

All to play for.

[joseki] 25/10/2016 23:05

The answers were in the Muppets Munch

[pocopicu] 25/10/2016 22:49

That makes no sense whatsoever old man EGH. Dementia settling in?Please try again. And this time try to make some sense.Off you go.

[earlgreyhot] 25/10/2016 22:14

And that's something you'd know all about isn't it coco LoL.

[nestoframpers] 25/10/2016 21:58

21:16
Investment opportunities.........
this user is in your favourites listJack Diamonds
HPC Follower........

"The GKP Board must update us all soon... especially if there are items still with the 15th December deadline."

The reality is that the date of 15th December has already past and is a non event. The Restructure was finalised on 14th October, end of.

There were a number of conditions that made the Restructure conditional on those stated events, UNLESS they were waived by the majority holders. This must have happened as the RNS of 13th Oct was very specific.....

"Gulf Keystone is pleased to announce that the Scheme of Arrangement (the "Scheme") in connection with the Balance Sheet Restructuring Transaction (the "Restructuring") announced on 14 July 2016 became effective today. The expected settlement date for the Scheme is 14 October 2016."

The idea that there is now a Lock-in on shares acquired by the D for E is also pure fantasy. Firstly it would be mandatory for the LSE and other Shareholders to have been notified of such a Lock-in to maintain an orderly Market. No such notice has been given, therefore no Lock-in.

You don't get the feeling that the new reported significant owners were crusty old Bond holders when looking at their websites. Taking Shares was not an issue and holding them is equally as easy. The million $ question is Who is behind the facade and are any of them linked?

On the balance of probabilities they were happy to step into the shoes of Shareholders and by the looks of it are also happy to wait. Clearly they had the assurances they needed that the conditions of the Restructure were significantly advanced or sorted.

The lack of volume clearly demonstrates this.

I don't think the oil price will move significantly upwards (other than a major world event) and I think the possible IPO of ANARCO won't move the price either. The Saudis generally pull out of IPOs once the price starts to rise.




I also think any Shareholder that didn't sell their entire holding and then take up the OO @ .83p has missed a golden opportunity.

Still, each to their own.....

By the way, when was the last time we took up the drill bit to satisfy questions?

Reveal yourselves you canny old Bond Holders......

Jack

[oilman63] 25/10/2016 20:56

I suppose when you have failed in life as massively as someone from Stockport you wouldn't want to post under your own name 😄

Use a name that has not been a failure in life.

[bigdog5] 25/10/2016 20:37

nicebut
25 Oct '16 - 17:42 - 525228 of 525243 7 0

BD,

GKP went quiet because of A/ SA-1 didn`t flow B/ SH-6 testing problems. didn`t flow. c/ they only wanted good news and improved OIP. d/ Bad news/ slightly negative or problematic news was buried- went unreported- until March 14

IMO etc

-----------
It does appear that way nb. The issue is, were there any negatives that were not reported connected with ShaiCon? Everything was effectively "bigged up" which of course impacted on the share price Its why there needs to be a thorough investigation into everything and everyone connected with GKP imo.

[1302sb] 25/10/2016 20:34

Interesting that it was you that reported my post that was removed WR, and yet it never mentioned you at all, only your slimy colleagues Bob and DH.

[pocopicu] 25/10/2016 20:07

Huge buy :-)

[cutthecagain] 25/10/2016 19:57

OI seems to have gone quiet since I posted about the paid to post allegation. It's not an anonymous allegation btw, it can all be checked and verified by the old bill.

Busy covering tracks or something else?

I'll reiterate that the police report he says is false - is not!

As for the "buy" avatar and the persons name he's using, I thought that was covered under the new trolling regulations. Most of the posts by that team are covered by the new trolling regulations funnily enough but they only seem to notice if (by some retaliation) they consider themselves the victim.

Hey ho

Let's (as they say) see how we go

[lardner23] 25/10/2016 19:14

Who is, hearts? Not Valju, he's someone else.

[hearts1] 25/10/2016 19:12

That's one of 1712s also - he's a bit weird.

[lardner23] 25/10/2016 19:12

tonycusick, your contributions are very consistent. I think you can definitely push on from here.

Who's David Adair, btw? An avatar here? I used to know a lovely chap from the north east with the same name.

[lardner23] 25/10/2016 18:58

Looks like Valju on t'other board has been consulting sauces about an imminent AGM announcement :-))

[joseki] 25/10/2016 18:47

Thank you Paul, how's the tube selling? Rush off home to post as oilman's name? Will that recoup the losses I warned you from? Alas you couldn't save yourself despite my godsend warning. Ergo. Buy.

Lol

[hearts1] 25/10/2016 18:35

NB, Poco is 1712 or a relative.Not sure if H7 is on here, I'd guess at Lifeson.