Gulf Keystone Petroleum Share Discussion Threads

[mr roper] 03/2/2017 19:43

Talk is that he is.

[nestoframpers] 03/2/2017 19:40

Timeline of the BER going below 0.4% and the non sale of a uncommercial AB is dodgy Lard , just 6 months before MOL were saying we were on for 35k a day from AB .Is it possible to turn oil into water so quick?

[oilman63] 03/2/2017 19:35

plans change yet again.

Ring over the weekend if you want to know.

[nestoframpers] 03/2/2017 17:45

Premier Oil lands long-awaited deal on £2.8bn debt pile

The Telegraph
Jillian Ambrose
The Telegraph3 February 2017
One of the North Sea's largest independent oil producers has clinched a deal to restructure $2.8bn of debt - © imageBROKER / Alamy Stock Photo
One of the North Sea's largest independent oil producers has clinched a deal to restructure $2.8bn of debt - © imageBROKER / Alamy Stock Photo
More

Premier Oil has agreed a deal to reset its £2.8bn of debt after nine months of complex negotiations with its lenders.

The long-awaited deal hits the reset button for the struggling North Sea explorer by relaxing the debt covenants that loomed over the company during a two-year oil market downturn that wiped 80pc from its market value.

The agreed terms also guarantee a $4bn debt facility for the next four years and push its maturities out to 2021, allowing the explorer to move ahead with developing projects that hold a potential 700 million barrels of oil reserves.

Premier chief executive Tony Durrant said the deal was “a significant milestone”.

“We’ve broken the back of it and we don’t expect this deal to change while we move through the final stages,” Mr Durrant said.

The share price reaction to the deal was muted as investors had largely anticipated the outcome.

Premier shares climbed 1.5pc on Friday to just above 87.6p, capping a 70pc rise in a little over two months, and more than triple the price this time last year when oil markets hit 12-year lows.

PMO

The final deal documentation will be circulated around the lender group for formal credit committee approval before the end of the month.

“We are grateful for our lenders’ continued support, which reflects the high quality nature of our asset base, the strong recent operating performance and our plans to deliver value for all of our stakeholders,” he added.

In return Premier’s lending syndicate, which includes more than 75 banks, will be offered equity warrants worth $50m at the company’s current market price as well as slightly higher interest payments on the debt.

The lenders will also be given oversight of Premier’s annual spending plans, but Mr Durrant said only very extreme unforeseen costs are likely to raise concerns.

“It’s a reasonable compromise for the lenders who have continued to support us through this process,” Mr Durrant added.

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PMO has reserves of 750 mill blls , do not know their PSC split or cost per bll.

[nicebut] 03/2/2017 15:35

FM you kind of made Terry`s point there roverite!!

[nestoframpers] 03/2/2017 15:28

Dear oh dear Ben is still a muppet I see.

[nestoframpers] 03/2/2017 15:26

Not the shard any more phillis JF uses Burj Khalifa 1.3 times that is , or 3 shards (how many times).
£301 mill mk cap gives us 20p a bll at CPR figs or 1p a bll at my figs of 3 bill blls reserves.Can't see how the deception can carry on TBH.

[bobobobobobob] 03/2/2017 14:43

Almost school pick up time. No wonder hearts is sounding excited.Now.....who wants to know what he did to his nephew?

[phillis] 03/2/2017 14:34

ye
I remember the Accumulators well

Dead duck now, the SHARD notwithstanding

[fake taxi] 03/2/2017 14:27

Silent accumulation and secret director buying is my theory. After all why would anyone believe the reality.

[cambradjones] 03/2/2017 13:09

Could it be the first flat day in months, maybe even years?Somethings got to give here ???

[owdbuffer] 03/2/2017 12:28

Pipmilo on 3i's

Its worth 300m because that's the fire sale price.the reason for that is no one is willing to buy into a company run by thieves and crooks

.... and nobody's allowed to buy it while it merrily funds the KRG gravy train and associated biscuit barrels

Don't Kill The Goose

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

There may or may not be any truth in Pipmilo's post. The depressing thing is that there is even a possibility of it being true.

[misha_hitstinks] 03/2/2017 11:50

GKPhero,

Give us, Lester Profitov.

[oilman63] 03/2/2017 11:10

Good Morning 😃

What a bright and sunny day. I think I'll spend it playing with the Jag.

Better than building castles in the sky.