Gulf Keystone Petroleum Share Discussion Threads

[nestoframpers] 16/7/2018 22:55

jeff I put nearly all new posters on ignore as they are really old posters .

[jjjjeeeeffff1] 16/7/2018 22:45

sarahgibbz

I hope your not having a pop at me. I'm not sure why you would think my name has been cloned also.

I have no reason to post anything on this board that is untrue and i have no hidden agenda.

I think it was you who first said you was just back in from the AGM, if i had know you was going, we could of linked up to confirm my authenticity.

You should note that i have never claimed to be an oil expert, but i am s security expert with over 40 years experience in the field, the last 15 years in Iraq and Kurdistan.

If i have misunderstood your intentions in the post, i apologizes, if not, are you able to expand on your point?.

[hearts5] 16/7/2018 21:03

what's a closed period? The BOD said they were not in a close period. Are you calling the BOD liars?

[nestoframpers] 16/7/2018 21:02

I think OM calls Bob postman pat too , funny that, or not.

[therealminotaur] 16/7/2018 19:40

Anybody got any experience in investment banking???

Goldman Sachs / j p Morgan / Morgan Stanley etc

They have and they hold 85% of Gkp

Anybody got any experience in fund management?

Black rock etc have

They hold 30,00,000 plus

Laugh at fraudster broad fraud

And fill yer boots like the serious lads

[broadford bay] 16/7/2018 19:37

Buraimi,

you are quite correct, I have no qualifications in Reservoir Engineering. My professional qualifications are in other disciplines and my understanding of these things, whilst enhanced by my experience and these other qualifications, in no way makes me a specialist.

postmanpat,
I have a lot of experience in refinery matters, where many of the same reservoir aspects upon which I commented are covered (pressure, flow, temp, etc) but you do me a disservice here with your unwarranted praise. Control yourself!

[therealminotaur] 16/7/2018 19:05

They haven't spent 30 months negotiating psc2

It's a farm in minimum

Or imo trade sale Friendly one

However unfriendly approaches from the non voting wholly indifferent 45% ???

[oil_investor] 16/7/2018 18:55

therealminotaur: an interesting comment on LSE about what Jaap Huijskes said at the AGM:

“I can clarify Jeffs comments a little bit. Jaap didnt say that he thought it wouldnt be right for him to purchase shares. It was made clear that the company was no longer in a closed period but Jaap did not want to purchase shares due to possible regulatory issues for himself as a director. He said it is very difficult to prove that as a director that he is not privvy to market sensitive information before purchasing shares and for this reason it was basically not worth the hassle. It sounded like he may have had similar issues previously and didnt want to deal with these issues again”.

So the attendees were told that GKP is not in a closed period, meaning that it is not in possession of material information which has not been released to the market. But the Non-Executive Chairman, who has only very recently taken up that particular position, apparently thinks that *he* may be in possession of such information. He reportedly says “how could I prove that I am not in possession of such information?”

Yet exactly the same thing could surely apply to his colleagues. Either the company is in a closed period, or it isn’t. If it isn’t, he can buy. If it is, none of them can (unless there were things going on of which some of them aren’t aware, but that’s problematic imo).

Yet there are surely important matters which have not been released to the market. For example the negotiations regarding the “resettingR21; of the PSC. And the capital restructuring which has been referenced by the company, with which Sami Zouari is known to be dealing. This question as to whether GKP is in a closed period or not was raised at the Dublin AGM in December 2016. The reply that day was long and involved, and reportedly it didn’t make much sense.

My feeling is that they are in a closed period.

[therealminotaur] 16/7/2018 18:43

Looks like a bidding war
In public
Is at least possible
Perhaps desirable?

[oil_investor] 16/7/2018 18:38

therealminotaur: it resembles the earlier levels of voting.

[therealminotaur] 16/7/2018 17:55

At restructure the major participating holders = mph = majority
Forced through the deal

They were 66% of notes plus over 50% CB plus capital oldco equity

So that's at least 54% of newco equity that AGREED

A LOT OF NEWCO EQUITY DIDNT AGREE BUT WERE IN THE MINORITY

THIS IS GOING TO HOT UP SOON IMO

FILL YER BOOTS

[therealminotaur] 16/7/2018 17:25

I'm still intrigued by 45% indifferent on all AGM resolutions given they are be owned by big professional boys


Taconic sell via THEIR RNS which they arent obliged to issue 😂😂scared some shares out - seemed tactical

I reckon we may yet see a hostile approach

Which might be

What Perella want ?

Who knows ?

Shaikan is worth a fodtune that is for sure

95% owned by the greediest corporate pigs in the world aren't wrong!!!
Join them

Fill yer boots

[oil_investor] 16/7/2018 17:13

nestoframpers: buying back Ber Bahr (GKP originally had 40%) is a no-no. Similarly April-Bijeel. The one I would go for is the Eastern end of Sheikh Adi, because that is Shaikan anyway. In fact, Sheikh Adi was originally called Shaikan, and Shaikan was called Gully Keer. Shaikan has to be unitised with the Eastern end of Sheikh Adi anyway, it’s covered in the PSC.

But basically, if the GKP board cannot realise decent shareholder value from Shaikan, there would be no point in a acquiring anything else.

[oil_investor] 16/7/2018 17:05

Broadford Bay: so if management give such caveats “all the time”, as you claim, what was your point about drawing conclusions from what GKP were saying between e.g. March 2016 and April 2017? It seems about as reliable a base as “it might rain tomorrow, but then again, it might not”.

I would have thought it was self-evident what I meant by “overtaken by events”. The possibility that one or two wells might need to come off production, because of the possibility of gas or water being produced, never happened. As you know. So the possibility of it occurring was overtaken by events, exactly as I said.

You apparently refer to water or gas being produced on the Western end of Shaikan. Can you please give us your source for this information?

You apparently do not believe what the board say. Or do you? If you do, then GKP is fully-funded for 55,000 bopd and is well-placed for 75,000 bopd. You say you are a shareholder.

Now you start talking about Shaikan being a Gas Drive reservoir. Actually it is reportedly a combination drive reservoir, with gas coming out of solution as the matrix pressure reduces, with some aquifer support. I have commented upon this on here many times, as you would know if you had read my posts.

Why do you claim that there are caveats on the Gravity Drainage characteristic of the Shaikan Jurassic?

I assume you are aware that Schlumberger say that the average Recovery Factor for these types of reservoirs is 50%. But it can be higher, and it can also be lower. Taking it steady with production is important, according to Schlumberger.

How many wells does it take to produce 32,000 bopd? Er...only the other day it was being alleged on here that current production has actually risen to 33,000 bopd. You know that the reservoir pressure has dropped as anticipated because the production of a cumulative 50 million barrels of dry oil. The metric used by GKP is 5000 bopd per well, you can find that in various plans. But that’s 5000 bopd with enough lifting pressure to get the oil from the reservoir to surface. Compare TVDSS with Measured Depth. Some artificial lift is needed in due course. With lift, 32,000 bopd = 7 Wells. With no artificial lift and the pressure balanced by gravity, an infinite number of wells would not lift one single eggcup of oil. There are currently 9 wells on production.

Why do you expect me to play guessing games with you regarding what might or might not be the situation at Christmas? The company’s plan is to do the work and achieve 55,000 bopd, passing the 40,000 bopd level on the way. As a shareholder, I would have thought you would be pleased with that. But you seem most unhappy.

[nestoframpers] 16/7/2018 16:42

They could buy back Ber Bhar

[bigdog5] 16/7/2018 16:21

"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..."

I would suggest there's enough evidence to support they were correct and that it has already occurred. Why else would they only be producing circa 32k?

The company has announced production in 2018 will be 27k-32k. Is the 5k difference because they expect a well to gas out?


The Presentation states there will be one new well and 4 ESP's for 40k and a further 3 wells and ESP's for 55k. If wells are close to or have already gassed out that means at least a further new well to reach 40k a day. It's also clear that they are expecting 5k a day from each new well plus its ESP. Just like I predicted months ago:-)

[officerdigby] 16/7/2018 16:15

Margic
16 Jul '18 - 16:03 - 568529 of 568530
0 1 0
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 ?

They had to PAYto get rid of more oil than they could ever buy!