Gulf Keystone Petroleum Share Discussion Threads

[oil_investor] 04/11/2016 20:54

Oh dear.

The MNR have been paying $15 million per month for Shaikan production. Production has been averaging around 1 million barrels per month, it moves about a bit. That's $15 a barrel.

Quite what Lardner23 is doing on here is something of a puzzle IMO

[neilyb675] 04/11/2016 20:53

In Stella we trust😎

[oil_investor] 04/11/2016 20:46

nestoframpers: Ber Bahr-1 entered the Permian. As did at least one well at Bina Bawi.

[lardner23] 04/11/2016 20:44

Paying at a rate of $7 pb 2015 and $8 pb H1 2016. You think that's the basis of a decent business model? Well, as I said, it's your money, lol.

[oil_investor] 04/11/2016 20:40

Oh dear.

Lardner23 assumes that I have not read the Prospectus. I have read it, and I have read the Presentations and the RNSs.

And Lardner23 addresses none of the numbers.

The plain fact of the matter is that the KRG have been paying for production since 1 January 2015.

[lardner23] 04/11/2016 20:33

Agreed, BD. In my experience, whilst consolidation should be a neutral process, the few ones I've tracked have not been so.

Oh dear, it seems O_I hasn't read the restructure risk details/working capital warnings and is seemingly a little naïve and trusting of the KRG. Or is he disputing what the company has communicated, yet again? Never mind, it's his money on risk. Quite why he would remain invested in a company whose communications he contradicts/doesn't believe, I've no idea. Perhaps he's like Warren Buffet and has no intention of leaving anything to the next generation?

[bigdog5] 04/11/2016 20:29

Buys 9.5m sells 50.2m.

Looks to me there is no confidence in what you say fake reverend. When is what you are saying going to happen? Lot of faith there in what the KRG are apparently going to do. Reliable and true to their word are they?

[nestoframpers] 04/11/2016 20:27

Bob you were talking about drills that went on into the Permian and we were not told about , I remembered a post on that and dug it out robyroo talks about them beefing up well design to cope , also one there Re BB been good !




robyroo - 01 Sep 2011 - 17:40:16 - 108517 of 526372 THE NEW GKP / Drilling for Super Giants (moderated) - GKP

GKP still want to go deeper on the remeining appraisal wells at Shaikan to maybe "Poke the Permian" which could be the job of SH4 as every well after SH1 has been designed to handle the higher pressures although thats what ceased the drilling at sh1 sh2 and SA.

There are no plans to drill any appraisal wells at SA at present[Which i find strange]and the September spudding of BB is still on the cards.I cant help thinking that BB is going to be a sort of appraisal well for SA and SH with regards to the "One big sea of oil theory",but obviously it is an exploration well with possibly the biggest reserves of the 4 blocks.I really hope Genel start this on time as this could be another massive milestone in the GKP story.



robyroo - 10 Aug 2011 - 10:12:05 - 102843 of 526372 THE NEW GKP / Drilling for Super Giants (moderated) - GKP
From Investor relations :

All going well,no reason for share drop other than market sentiment ,

Sh4 showing good results so far,
Operations update will be issued when testing programs are finished.
Still waiting for KRG regarding award of Back in Rights.
Ber Bahr is massive.
No news from Mol
Nothing changed ie spudding of BB ,in Genels hands and if any change will be notified accordingly.
Hope this is some help
Rob

[neilyb675] 04/11/2016 20:26

In Stella we trust😎

[bigdog5] 04/11/2016 20:07

Phillis, The value (LOFL) I would agree is supposed to remain the same but invariably it will end up less. Then, based on the requirement for new funding to progress, the share price will be under pressure again. The company is no more than a blank cheque for the BoD and KRG, imo.

[oil_investor] 04/11/2016 20:01

Oh dear.

Now Lardner23 is seemingly misrepresenting the capex position.

The $88 million capex figure includes $10 million for the trunk line tie-in. That is explicitly stated by GKP in the build-up of that figure. And the KRG are installing a 10-mile 750,000+ bopd 36-inch diameter pipeline from Shaikan to Kurdistan Pumping Station 2 on the main Kirkuk to Ceyhan export pipeline, in order to carry the oil from Swara Tika, Atrush and Shaikan. Without that, Atrush goes nowhere. So the question of GKP building its own parallel pipeline makes no sense.

GKP is clearly fully-funded for its required capital works. Last week it had $108.9 million cash-at-bank, with another net $12 million due for the September 2016 invoice, making c. $120 million in total.

What is more, the lifting cost of Shaikan crude has already been reduced to $4 a barrel, which is among the lowest in the world. So with the interest payments virtually eliminated, GKP should be running at a profit. And IN ADDITION to the monies due for the pre-2015 production arrears and the monies due for the KRG's Back In Rights exercise, there is a further c. $500 million due to GKP going forward from the PSC Cost Recovery clause for past capital investment. And the capex for the rise from 40,000 bopd to 55,000 bopd (etc) is itself recoverable under the PSC Cost Recovery Clause.

Oui?

[phillis] 04/11/2016 19:35

A share consolidation is irrelevant
The value remains the same, just that the arithmetic is easier

In he meantime, no buyers only sellers

Drip. Drip. Drip

[lardner23] 04/11/2016 19:08

$88m needed to get to 55k bopd.
$70m+ needed for spur to pipeline.

Working capital predicted to last until next August. What level of capex was included in that calc?

MNR back payments needed to progress.

[hearts1] 04/11/2016 19:00

Yes, at some point coupled with a massive placing.

[neo26] 04/11/2016 18:57

will there be a share consolidation with 23b shares in issue?

[lobo] 04/11/2016 18:33

Poo going down the toilet again.

[1712notout] 04/11/2016 17:56

Massive buy
😛😛😛😎8526;😎ԅ26;😧

[roverite12] 04/11/2016 17:36

everyone apart from shareholders have done real well from this investment that you have ramped up to the blue sky?

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

But , bigdog ....you are/were a shareholder and you keep telling us you made money here .

Was that another lie ?

[phillis] 04/11/2016 17:04

Dog
Hard as putty I would say

[oil_investor] 04/11/2016 16:48

Neil you: are you Inter Stella Roverdrive?

I am.

Jupiter and Saturn, Oberon Miranda and Titania!

Floating down the sounds resound, surround the icy waters underground...

[neilyb675] 04/11/2016 16:44

In Stella we trust 😎