Gulf Keystone Petroleum Share Discussion Threads

[bantercity] 16/7/2018 16:12

At the AGM they also mentioned that they would be focusing their efforts on Shaikan and not elsewhere.
So i dont think that this is in their plans.

[margic] 16/7/2018 16:03

Feels odd I might be the first to point this out, certainly recently, but with this regular net income, gkp also now has buying power to buy out other producing or at least proven assets. Yet another outlet for gkp to grow. What's to say they don't want to buy more oil ?

[obesepaddington] 16/7/2018 15:58

BB is a fraudsterInstitution buying is huge hereBlack Rock up to 4.5m nowFunds bought over 30,000,000 in no time Investment banks own 85% of the whole showRetail less than 5 % nowHence the city needs fraudsters to loosen retail handsDon't be muggedHoldAnd fill your boots

[broadford bay] 16/7/2018 15:52

o_i,

management do this all the time - cover their backs, as parameters can never be exact. What is sure, however, is that we now have a Gas Drive Reservoir, assisted (caveats here) by Gravity Drainage. Do you fully understand the implications of that statement? I am sure you do not.

The wells closest to the gas cap can easily be determined by examining the published data.

Since we are taking here about production, bopd, what exactly do you mean by "overtaken by events"? What events - the rising crude price? That's the sort of overtake that could quickly turn into a reverse.

Why are you so picky about what management statements to believe?

They said it and pressure is dropping as the cap expands (certainly on the Western extent of the field); the possibility DID actually materialise. The declining downhole energy reduces flow and makes the speedy introduction of ESPs rather urgent I would say.

How many wells does it now take to produce approx. 32Mbopd?
How many flowing wells will we have by year-end and what will daily production look like?

Ah yes, forgot to say "In my opinion"!

[nestoframpers] 16/7/2018 15:37

BB should read 'The Prize'.

[nestoframpers] 16/7/2018 15:36

it could result

[oil_investor] 16/7/2018 15:36

Broadford Bay: I find it difficult to understand your point. GKP made that remark two years ago, as a justification for raising some money from existing shareholders via the Open Offer. It was then repeated more than 15 months ago, with the work not started. EDIT: in fact they made the remark on 17 March 2016, which was actually two years and four months ago - “No further investment will result in losing wells in the next two years either by gassing out, thus requiring a new drill, or by ceasing to flow naturally and requiring an electric submersible pump (ESP). In either circumstance, early investment will prevent this and allow all facilities to operate at full capacity”.

But it didn’t happen. “Later in 2017” might reasonably be interpreted as “by about October 2017” since the remark which you reference was signed-off on 5 April 2017. October 2017 is actually more than nine months ago! It didn’t happen. Surely that is good news. And in any case, with the oil price recovering - how much difference would it have made anyway, if e.g. one well had needed to be suspended? I suggest very little.

We can believe what, exactly? A possibility which did not actually materialise, and which has been overtaken by events?

[therealminotaur] 16/7/2018 15:12

This why 95% of the company is owned by Goldman Sachs etc aside from the BARRELS
Strengths: Analysts expect a sharply increasing business volume for the group, with high growth rates in the coming years.Margins returned by the company are among the highest on the stock exchange list. Its core activity clears big profits.Thanks to a sound financial situation, the firm has significant leeway for investment.The equity is one of the most attractive in the market with regard to earnings multiple-based valuation.Upward revisions of sales forecast reflect a renewed optimism among the analysts covering the stock.
Over the past year, analysts have regularly revised upwards their sales forecast for the company.For the past twelve months, EPS forecast has been revised upwards.Analysts covering this company mostly recommend stock overweighting or purchase.The tendency within the weekly time frame is positive above the technical support level at 140 GBp

Weaknesses : No significant weakness. FILL YER BOOTS 💰💰💰💰8176;💰
🇨🇳🇨🇳7464;🇳Ӻ64;🇳🇨;🇳🇨🇳🇨
27475;

[therealminotaur] 16/7/2018 15:12

This why 95% of the company is owned by Goldman Sachs etc aside from the BARRELS
Strengths: Analysts expect a sharply increasing business volume for the group, with high growth rates in the coming years.Margins returned by the company are among the highest on the stock exchange list. Its core activity clears big profits.Thanks to a sound financial situation, the firm has significant leeway for investment.The equity is one of the most attractive in the market with regard to earnings multiple-based valuation.Upward revisions of sales forecast reflect a renewed optimism among the analysts covering the stock.
Over the past year, analysts have regularly revised upwards their sales forecast for the company.For the past twelve months, EPS forecast has been revised upwards.Analysts covering this company mostly recommend stock overweighting or purchase.The tendency within the weekly time frame is positive above the technical support level at 140 GBp

Weaknesses : No significant weakness. FILL YER BOOTS 💰💰💰💰8176;💰Ԇ40;🚀🚀;🚀🚀🚀

[sidesplitting] 16/7/2018 15:04

GKP still not sold yet? How much they got in the bank?


Why??


ps. hi


:)

[broadford bay] 16/7/2018 15:01

This was published by the company on 6th April 2017 (2016 Full Year Results):

Production (P6/37)
"...If these investments are deferred it could result in REDUCED PRODUCTION from a combination of natural decline and the potential to lose one or two wells later in 2017 from either GAS BREAKTHROUGH or the inability to produce wells without artificial lift..."

The company said it, and you can believe it.

(CAPS are mine)

[oil_investor] 16/7/2018 14:08

An interesting “debottlenecking” example, with identical numbers to those of Shaikan!

“Debottlenecking of Shell's Auger facilities increased oil production capacity to 75,000 bo/d from the initial design of 40,000 b/d. Further expansion will allow Auger to produce 100,000 b/d”.

[therealminotaur] 16/7/2018 14:04

Legal & General Investment Management America Inc

This why 95% of the company is owned by Goldman Sachs etc aside from the BARRELS
Strengths: Analysts expect a sharply increasing business volume for the group, with high growth rates in the coming years.Margins returned by the company are among the highest on the stock exchange list. Its core activity clears big profits.Thanks to a sound financial situation, the firm has significant leeway for investment.The equity is one of the most attractive in the market with regard to earnings multiple-based valuation.Upward revisions of sales forecast reflect a renewed optimism among the analysts covering the stock.
Over the past year, analysts have regularly revised upwards their sales forecast for the company.For the past twelve months, EPS forecast has been revised upwards.Analysts covering this company mostly recommend stock overweighting or purchase.The tendency within the weekly time frame is positive above the technical support level at 140 GBp

Weaknesses : No significant weakness. FILL YER BOOTS 💰💰💰💰8176;💰

[bigdog5] 16/7/2018 14:03

Have I been proved correct yet again:-)

sarah, but didn't AV have a few fans here. Wasn't she an excellent sauce:-) Very nice of you to post up the e-mail from JF. Is that what is meant by "shot the fox"?

Now you've done that post up the bit from the samimack report about the 18b barrels in all of Koruptistan as I know so many here think I make stuff up:-)

[oil_investor] 16/7/2018 13:56

Sarahgibbz: he still refuses to recognise GKP’s footnote which explicitly states that only one new Jurassic well is required to achieve 55,000 bopd at Shaikan. The other three new wells have been brought-forward from the next (75,000 bopd etc) phase in order to reduce overall capital costs via economies of scale etc.

With the board of GKP having explicitly denied what he has been alleging, I think he is skating on very thin ice.

[therealminotaur] 16/7/2018 13:54

Yet another new insti buyer

Legal & General Investment Management America Inc

[oil_investor] 16/7/2018 13:53

Oh dear,

“Debottlenecking” is a standard Oil and Gas industry term. It is actually very specific:

...........

Debottlenecking is the process of identifying specific areas and/or equipment in oil and gas facilities that limit the flow of product (otherwise known as bottlenecks) and optimizing them so that overall capacity in the plant can be increased.

The first step in a debottlenecking process generally involves examining the overall operating conditions of a facility. In many instances this means comparing current operating parameters and system settings (flow rates, pipe diameters, pressures, etc.) with the design specifications of process equipment.

In some situations, eliminating a bottleneck can be as simple as changing system parameters to match recommended design values. Other times, however, the solution may require a bit more time and effort, such as replacing an entire piece of equipment or retrofitting it to better match the needs of the facility.

Understanding the limitations of a facility is also a critical step in the debottlenecking process. While increasing throughput to some degree can be accomplished in nearly every refining process, it should never be done at the expense of safety.

In many cases, relief systems will dictate the maximum capacity of a plant. Even though other pieces of equipment may be capable of handling higher volumes, they cannot be increased if it means a safety hazard will be created. The most common causes of bottlenecks in refining plants include control valves, choke valves, compressor capacity, pipe velocity, heat exchangers, and rotating equipment.

Audubon offers a wide range of engineering services and solutions that are designed to eliminate bottlenecks and maximize productivity in oil and gas refining facilities, including: debottlenecking studies, conceptual and FEED studies, feasibility assessments, layer of protection analysis, relief and flare system design, pipe stress analysis, hazard assessments, and control system design (among others).

Want to know more? Visit hxxp://www.auduboncompanies.com/engineering-solutions/engineering-services/engineering-and-automation/.

[bigdog5] 16/7/2018 13:49

Just for accuracy as I know you all believe whatever the company says (naïve?) this has come from the latest Presentation. Unfortunately what it says and how things turn out are always completely different as history has proved.

For 40k a day.

ESPs on 3 existing wells
• 1 new Jurassic well
w/ESP
• Facilities maintenance
and debottlenecking

For 55k a day

3 Jurassic wells + ESPs
• Additional modifications
to existing production
facility
• No additional processing
facility required
• Trunk line tie-in

Isn't debottlenecking a great word for not making stuff specific. All manner of things can be in there. Bit like when companies use miscellaneous.

I reckon the 55k a day in H2 2019 is looking a stretch but lets see what occurs.

[oil_investor] 16/7/2018 13:47

SUMMARY OF KEY POINTS FROM 13 JULY 2018 AGM REPORT-BACKS


1. Allegations on the bulletin boards

The board denies the allegations that there are issues with (a) the Shaikan wells, (b) with water and (c) with the installation of the Electric Submersible Pumps


2. Current Reservoir Performance

2.1 the wells are all producing well as expected, there being no problems with any of the wells

2.2 there are no water or gas issues, there has been no water produced at all

2.3 the reservoir is working very well, unprecedented, with exceptional characteristics and performance


3. Achievement of 55,000 bopd

3.1 GKP is fully funded via the current bank balance

3.2 achieving 55,000 bopd is normal oilfield operations and is relatively straightforward, with everything having already been done before

3.3 there are no issues with installing the Electric Submersible Pumps, these can be installed easily as standard


4. Connection of Shaikan to 36-inch Atrush Feeder Pipeline

4.1 this will reduce costs by $1 per barrel


5. Commercial

5.1 last week’s payment to GKP for April 2018 Production was the largest ever

5.2 the main reason for the repayment of the 2016-2021 Notes and their replacement by the new 2018-2023 Notes was to remove the $45 million borrowing restriction

5.3 a PSC “reset” is ahead.