Gulf Keystone Petroleum Share Discussion Threads

[oil_investor] 16/12/2016 09:39

GKP was very successful when it was on AIM.

The slide took place when it issued the ERC Equipoise "layers of conservatism" CPR (with which John Gerstenlauer and John Stafford said they did not agree) in March 2014 in order to issue more Bonds (rather than use Rights Issue or Open Offer facilities) in order to get onto the "grown-up" Main Market.

AIM isn't anything whatsoever to do with GKP's recent problems etc.

By the way, a new senior Finance person has just been appointed at GKP. Ex-Glencore, ex-Hess, ex-Petroceltic. A Chartered Accountant. I wonder when Gulf's new Chief Operatng Officer going to be announced?

[mr genel energy] 16/12/2016 09:38

so GKP went from AIM to the MAIN MARKET..

and it fell to 1p on the main market...


so is the main market corrupt as well

imo YES IT SAME LIKE ITS YOUNGER BROTHER.

[gkphero] 16/12/2016 09:38

Shaikan could easily be worth £10 billion.

£50 per share in new money.

[mr genel energy] 16/12/2016 09:37

the AIM market is dead in the water now.
only a few investors left the hardcore mainly.

[gkphero] 16/12/2016 09:29

"Sinopec raised $3.3 billion on Monday by selling a 50 percent stake in an oil pipeline to state firms China Life Insurance and SDIC. It is also planning a $10 billion initial public offering of its network of over 30,000 gas and convenience stores. That follows the 2014 sale of a 30 percent stake of the division to a group of Chinese investors.

Sinopec has plans for the money it's raising. It's eyeing a takeover of London-listed Gulf Keystone, a financially troubled oil company focused on Iraqi Kurdistan, according to Bloomberg. That points to Sinopec's urgency in replacing its aging oil reserves. In 2015, proved developed oil reserves using equity method accounting fell to 1.75 billion barrels from 2.53 billion at the start of the year."


£5 billion will be enough for GKP.
They have plenty spare then, with a total of $13.3 billion raised.

[mr genel energy] 16/12/2016 09:17

GKP was on AIM.






"Casino" environment[edit]
In March 2007, U.S. securities regulator Roel Campos suggested that AIM's rules for share trading have created a market like a "casino". Campos reportedly said: "I'm concerned that 30% of issuers that list on AIM are gone in a year. That feels like a casino to me and I believe that investors will treat it as such."[7] The comment resulted in several angry retorts, including one from the London Stock Exchange, which controls AIM, pointing out that the number of companies that go into liquidation or administration in a year is actually fewer than 2%.[7]

AIM has since issued new rules requiring that listed companies maintain a website.[8]

The calibre of participants in the market has also been criticised by fund manager John Hempton of Bronte Capital Management.[9]




Langbar International fraud[edit]
AIM was criticised for allowing Langbar International to be listed.[10] This £375 million ($750m) share fraud was investigated by the Serious Fraud Office[11][12][13] and the City of London Police when it was discovered in November 2005 that Langbar had none of the assets it declared at listing. This was due in part because the Nomad (Nominated Adviser) failed to carry out due diligence. Also, the Exchange did not ensure that the AIM rules had been complied with. The AIM changed the rules for Nomads in 2006.[14][15][16] On 19 October 2007 they fined Nabarro Wells £250,000 ($512,500)[17] and publicly censured them for breaches of the AIM rules.[18][19][20]



n March 2007 the Daily Telegraph noticed a tendency to use listing vehicles incorporated in offshore financial centres prior to floating on AIM. Some 35% of the companies floated on AIM during 2006 were from OFCs, of which the majority came from the Channel Islands or the British Virgin Islands.[21]

On 29 January 2009 it was announced that AIM is to form the basis of an Asian-orientated growth or incubator market called 'Tokyo AIM', which will be run as a joint venture between the Tokyo Stock Exchange and LSE. Tokyo AIM will replicate AIM's system of oversight by NOMADs, with 'J-Nomads' being "selected and approved by TOKYO AIM ... to assess companies’ suitability for the market".[22]

[fairenough11] 16/12/2016 09:06

You can't buy 360Mbls+ of reserves for less than $1B/$1.5B imo.Plus these reserves are from only a very small part of Shaikan where they have hardly scratched the surface,plus +TCUFT+++ of gas.
So,imo,they either get around $2B+ OR a smaller amount but lock in a free carry on future exploration/production increases.

Current Mckcap just over £300M,with over $600/$700m to claw back via past capex,plus the BIR cash and owings.

Nonsensical current valuation IMO.

[rockin robin] 16/12/2016 08:52

3 or 4 times multiple would be nice.I expect some shorters may be having a very nervous Xmas..Enjoy.

[ccr1958] 16/12/2016 08:40

naplion, I think it might be best for all if this is sold . As has been pointed out ad infinitum this has been a disaster for PIs in general... apart from the traders who have made loads apparently , LOL !!

[mister md] 16/12/2016 08:40

Up on massive volume
Down on tiny volume
Increasing number of press reports on potential Sinopec deal
Think I'll hold tight for a bit longer ...

[gkpdickhead] 16/12/2016 08:29

PMSL!! if even the Sinopec piece couldn't propel this POSS beyond 1.4p in old money then FFS this is surely totally fukked!!!! No doubt 1712gkpdh numero uno will be along with some totally deluded, fuk-witted and talking-out-of-his-totally-reamed-rusty-bullet-hole reason as to why not any minute...!!!

[owdbuffer] 16/12/2016 08:29

Sinopec has plans for the money it's raising. It's eyeing a takeover of London-listed Gulf Keystone GKP.L, a financially troubled oil company focused on Iraqi Kurdistan, according to Bloomberg. That points to Sinopec's urgency in replacing its aging oil reserves. In 2015, proved developed oil reserves using equity method accounting fell to 1.75 billion barrels from 2.53 billion at the start of the year.

..................................................................................


GKP has reserves.

We can do reserves Sinopec!

Reserves are everything for an IOC. It's what they are valued at.

I'll take this as a positive.

I was in Polo Resources when the Chinese bought an Iron Ore mine from them. It took months and months. I think they might have a few layers of bureaucracy to get through, so this might not be quick. But it could provide another opportunity to buy in at 125p as the speculators get discouraged. On the other hand JF was very keen to take delivery of his shiny new trough ASAP, so talks may be well advanced.

Very easy company to buy now that the bulk of the dispersed shareholders have been neutralized, Put 5 big holders in a room and you are talking to above 50% of the stock, agree a price with them and there's nothing the BOD or us can do about it. Since the big holders are already in profit and probably don't want to own equity anyway, especially in Kurdistan, they will roll over for 3 or 4p IMO.

Disappointing, but I for one will be glad to leave this whole sorry mess behind.

[1712notout] 16/12/2016 08:13

Agree f11
$1.36 bn on CPR 10%

And these are developed

Plus prospectivity etc

So what's it worth $2bn min IMO

If there's a competition 3b plus so several multiples

IMO

Buy
And
Hold
Notes did

😂😂😂😂8640;🚀Ԇ40;🚀

[naplion] 16/12/2016 08:12

I don't think they should sell, even at 3 times the price offered, there is no need now after the restructuring, isis threat is no longer an issue, oil on the up, that's why they are being approached and that's why they shouldn't sell

[fairenough11] 16/12/2016 07:59

I like the "urgency in replacing" bit.

and GKP are not forced sellers anymore.

#drivingseat.

[mr roper] 16/12/2016 07:43

fe,

both para's....13.3bn bucks should be enough for Shaikan eh....

Sinopec raised $3.3 billion on Monday by selling a 50 percent stake in an oil pipeline to state firms China Life Insurance and SDIC. It is also planning a $10 billion initial public offering of its network of over 30,000 gas and convenience stores. That follows the 2014 sale of a 30 percent stake of the division to a group of Chinese investors.

Sinopec has plans for the money it's raising. It's eyeing a takeover of London-listed Gulf Keystone, a financially troubled oil company focused on Iraqi Kurdistan, according to Bloomberg. That points to Sinopec's urgency in replacing its aging oil reserves. In 2015, proved developed oil reserves using equity method accounting fell to 1.75 billion barrels from 2.53 billion at the start of the year.

[1712notout] 16/12/2016 07:42

Not financially challenged anymore😂8514;😂ԅ14;😂

And to put that in perspective GKP Shaikan WI makes up that reserves shortfall

They don't grow on trees

Buy
And
Hold
All the best
🚀🚀🚀🚀8640;🚀Ԇ40;🚀🚀;🚀🚀

[fairenough11] 16/12/2016 07:31

"Sinopec has plans for the money it's raising. It's eyeing a takeover of London-listed Gulf Keystone, a financially troubled oil company focused on Iraqi Kurdistan, according to Bloomberg. That points to Sinopec's urgency in replacing its aging oil reserves. In 2015, proved developed oil reserves using equity method accounting fell to 1.75 billion barrels from 2.53 billion at the start of the year."