Gulf Keystone Petroleum Share Discussion Threads

[angus thermopyle] 28/10/2016 01:14

I'll get straight on to Buxton in the morning maybe we can start a bidding war.

[angus thermopyle] 28/10/2016 01:12

370m barrels of oil and 4.63bn barrels of water. Maybe Evian will buy us out.

[angus thermopyle] 28/10/2016 01:07

Is this the monster under the bed then, water. Not just at sh6 but everywhere keeping the pressure the same while they told us it's the shear amount of oil?

[tess_tickle] 28/10/2016 00:51

Gas doesn't replenish itself quickly enough, if at all, to replace the volume of oil extracted, to maintain pressure as it is trapped and finite.
Water from the aquifer replenishes from a reservoir instantaneously to maintain pressure.

[oil_investor] 28/10/2016 00:36

No it most certainly is not.

Calculate the figure properly.

[tess_tickle] 28/10/2016 00:31

62.16 shares per barrel.

[oil_investor] 28/10/2016 00:31

Shaikan is a GAS-DRIVE reservoir.

[tess_tickle] 28/10/2016 00:24

Shaikan 6 drilled into the aquifer which was higher than first thought, get over it.

Why do you think there has been no pressure drop, there is connectivity in water too you know.

[bigdog5] 28/10/2016 00:16

1.2p SP
23 billion shares
370m barrels reserves
Fact.

"And Keith Lough talks about REBUILDING VALUE for all stakeholders".

And Ferrier said that a few times, then what happened?

O dear.

[pocopicu] 28/10/2016 00:06

Is Stafford corrupt or incompetent?

[oil_investor] 27/10/2016 23:55

Oh dear.

What cutthecagain says is wrong.

Vvedenskaya never said anything to ME about this. She spoke to other shareholders IN WRITING and I have seen what she said.

Dr. Lorenz (see below) had said just after XMAS 2014 that GKP controlled the "American Association of Petroleum Geologists" ( AAPG) April 2014 Shaikan Fracture slides, and that the GKP shareholders should request them from GKP. The slides were immediately requested, after the holidays.

Vvedenskaya claimed, in January-February 2015, that the AAPG slides had been "superseded by the CPR" and therefore she insisted that the shareholders were not allowed to see them. Her behaviour on this matter was considered "threatening" and I believe that Jon Ferrier is aware of that.

Vvedenskaya was THEN told by shareholders that what she said made no sense, because the AAPG presentation was given the month AFTER the CPR was presented in Houston, Texas. How, they asked, can something be superseded by a preceding event?

She did not reply and she ignored further communications on the subject.

By the time of the AGM in July 2015, Stafford had a new excuse as to why the shareholders could not see the presentation. He said it was because HE HAD NOT PERSONALLY GIVEN THE PRESENTATION IN HOUSTON, TEXAS.

This was totally different to what Vvedenskaya had used as the excuse.

The presentation was jointly authored by Dr. Lorenz and Dr.Cooper (GKP's external fracture experts) and Stafford, as is made clear on the first slide and in the AAPG pre-presentation Abstract.

The matter was then taken up with the newly-appointed Jon Ferrier, who was not happy about the situation. There is correspondence about this.

Jon Ferrier investigated.

Dr. Lorenz said they were Stafford's slides.

Jon Ferrier ordered the release of the slides, and they appeared on the GKP website in late October 2015.

It was then immediately obvious that what Vvedenskaya had said was simply not correct. The slides contained geological data including photographs of a number of Shaikan cores which had been taken from the core barrels AND THAT EVIDENCE COULD NOT CONCEIVABLY HAVE BEEN SUPERSEDED BY THE CPR.

Dr. Lorenz then revealed that the AAPG presentation had been put together AFTER the CPR had been presented.

Dr. Lorenz also revealed that Stafford had CHECKED THE SLIDES before they were presented to the AAPG audience in Houston, Texas.

These are the facts.

[pocopicu] 27/10/2016 23:42

Has Stafford been locked up yet?

[cutthecagain] 27/10/2016 23:14

I'm really trying to help you here

Anastasia told you it was old data

She was trying to help you

You ran a campaign and JF came forward with a 2nd CPR

Why are you so pro the bullish information and ignorant of the bear?

Is it because you have led a great many sheep in to believing in the pot of gold at the end of the rainbow in which case you can not publicly admit to changed data, admit to the previously unannounced issues on 6, admit that you were wrong?

The CPR's say you're wrong - all three of them
The valuation of the company determined in the restructuring indicates that you're wrong
The lack of a sale of the company / farm-in etc

And if you still believe that you're right - you always have Todd.

Or would that also confirm the worst?

[oil_investor] 27/10/2016 23:12

Fracture facies fanciful? Friendly "Ferret" Ferrier finds fascinating formulae, fearlessly fights falsehoods.

[oil_investor] 27/10/2016 23:09

Oh dear.

WATCH THE WEBCAST

13 March 2014

The "willoicc" hyperlink takes one straight to it.

GKP make their position explicitly clear regarding Shaikan-6.

[oil_investor] 27/10/2016 23:07

Foxy "Ferret" Ferrier finds fractures frightfully fascinating!

[cutthecagain] 27/10/2016 23:04

Clearly Stumped

Shaikan 6 - when did the COMPANY get the results?

Speak to Kozel instead of misleading people with your over active imagination which appears unwilling to accept reality and new data.

[oil_investor] 27/10/2016 23:02

It is indeed fascinating stuff. And the market capitalisation of GKP at today's close was £290 million with zero net debt. By way of contrast, Genel's market capitalisation was well South of that at £229 million, with a net debt position of almost a quarter of a billion dollars.

And Keith Lough talks about REBUILDING VALUE for all stakeholders.

Is he just making it all up? Lying his head off? Having a bit of a laugh? He doesn't seem that type, to me.

And one of Jon Ferrier's industry chums has just said to me "is Tony Peart's departure part of the clear out?"

I suppose all I can do is quote Jack Bruce: "Yesterdays are old meals now, Time's ripe for clearout". Songs For A Tailor, of course.

I keep coming back those fractures. Hopefully the leaden winter won't bring us down forever...

[j0ck ewing] 27/10/2016 22:55

Is that what you wanted to say to Lardner in Lille?

Lough leaves literally lots of license latitude lengthwise?

[cutthecagain] 27/10/2016 22:51

I take it that's a no re Lardner.

It is TK's responsibility since it's from his era.

3 CPR's have refuted it since, 2 under JF which aren't overly inconsistent with the first.

[j0ck ewing] 27/10/2016 22:50

Waaaasssssuuupppp!

[oil_investor] 27/10/2016 22:50

It is because of these sorts of issues that I believe (and others within the sector have also said so) that Keith Lough needs to establish a RESERVES COMMITTEE.

This Committee would include internal experts (drawing from the NEDs) and independent external experts.

It's pretty standard stuff.

But it looks like the Corporate Governance changes, introduced in 2013-14, did not address it.

Better late than never!

[j0ck ewing] 27/10/2016 22:48

Yes, that's all well and good and fascinating.

But it's still 23 billion shares at 1.2p back on planet earth.