Gulf Keystone Petroleum Share Discussion Threads

[ammu12] 26/5/2019 12:53

TweetGKP Oilman63 latest. SH3 retube successfully completed helping total production to hit 37k at one point.

[broadford bay] 26/5/2019 12:48

I was just casting my mind back to all of those wee snippets that you see sometimes creeping into "official" remarks/views/statements about some water being seen - and how they always pin it to return of Drilling fluids.

IMO one of the issues they have is managing the depletion strategy with relatively few producing wells, spread over quite an area, and with very few monitoring wells.

Fractures = Motorways for Fluids.

[mcfly02] 26/5/2019 12:39

Jamie,

You're a naughty boy 😂

Are you referring to what BigDog has been saying for sometime 😃

I have no idea if the company will RNS Tuesday but there is certainly enough for them to do so.

[bigdog5] 26/5/2019 12:35

Broadford, its gonna need and will likely contain its usual ton of lipstick:-)

[broadford bay] 26/5/2019 12:20

mac,

so, now we move on to ESP insertions - with #5 being the first well planned?

I hope they don't get too greedy and try to pull too strongly from the producing formation using ESP.
SH-5 (if producing from the Butmah) is rather close to the OWC out on the flanks and there is always the danger of water coning, with highly viscous oil in the fractures below the producing zone (1350m down to 1450mTVDSS per the CPR) and with water-bearing fractures below that.

It'll be interesting how much more than the absolute minimum they say tomorrow/Tuesday.

Thanks for that.

[bigdog5] 26/5/2019 12:14

Goat cam strikes again. Wot no pumps lol.

[0ili0] 26/5/2019 11:56

Thanks for the update Beernut.

[ammu12] 26/5/2019 11:48

How realisable is that person

[mcfly02] 26/5/2019 11:39

The news tomorrow tweet was to tell you that news would come from Oilman63 today.

🐐🎥®

[mcfly02] 26/5/2019 11:32

It's still there.

#GKP Oilman63 latest. SH3 retube successfully completed helping total production to hit 37k at one point. But my previous questions are valid ! #gkp

[ammu12] 26/5/2019 11:26

The tweet got deleted now I think

[beernut] 26/5/2019 11:00

A couple of posts on Gkp Twitter.

I think they are new ( excuse if I’m wrong as don’t use Twitter.

1. News tomorrow.
2. Shaikan 3 retube completed and should enable 37 k per day.

[beernut] 26/5/2019 10:22

Parliament to Elect Kurdistan President on Tuesday

Basnews English 26/05/2019 - 10:56 Published in Kurdistan
Parliament to Elect Kurdistan President on Tuesday

Tagged under en
ERBIL — The Parliament of Kurdistan Region is set to convene on Tuesday this week and vote on the next president of Kurdistan Region.

According to an official document, a copy of which is shared with BasNews, parliament presidency has called on the lawmakers to attend the session on 28th May at 11:00 Erbil Time.

Previously, it announced names of five people as approved candidates for the presidential race.

The highest chance is seemingly for Nechirvan Barzani, the current Prime Minister of Kurdistan Region who is nominated by the Kurdistan Democratic Party (KDP).

Based on a previous political agreement, Patriotic Union of Kurdistan (PUK), Change Movement (Gorran), and other parliamentary factions representing religious and ethnic minorities support the KDP nominee to take the post for the next four years.

This is the first time Kurdistan Region president is being elected by the parliament and not a public vote.

[nestoframpers] 26/5/2019 09:35

How can you write a brief history of GKP without mentioning the BER write down that no one knew about other than Sami Zouari and Sothick taking up Bonds and shorting GKP immediately after the CC that was, we thought going to herald the rebirth of the share price ? Sothick knew better and it went to 1p. How much has Sothick already made from GKP? Their bond risk is probably a free ride.

[beernut] 26/5/2019 06:36

Wikipedia.
Brief history of GKP.
Seems everyone wants a piece of us.

Takeover speculation and litigation
Edit

In late 2011, Exxon Mobil announced it had signed exploration contracts for six blocks in the Kurdistan Region of Iraq, including one block adjacent to the Shaikan block.[11] An article appeared in The Independent on Sunday on 18 December 2011 suggesting that a number of major oil companies were potentially interested in Gulf Keystone's discovery. A further article in that publication on 19 February 2012 stated that ExxonMobil had looked closely at Shaikan.[12] Its executive chairman, Todd Kozel, said "the one-time minnow's growth has been so extraordinary in the past two months that [it] would comfortably qualify for the FTSE 100 blue chip club ... We're not that little kid in short-pants anymore..." He claimed that the £3.5 billion market capitalization was due to the "world waking up" to the vast oil reserves the company possessed and "hoped that small private investors...some of whom have risked their life-savings on GKP, would not be squeezed out by the big city firms".[12]

The American company Excalibur Ventures secured third-party litigation funding for a high-profile trial in the Commercial Court in London (which Excalibur would subsequently lose) for around 30% of Gulf Keystone's key assets in Kurdistan, to which they claimed they were entitled because of their introduction of Texas Keystone to the opportunities which existed in Kurdistan.[13] This impending trial acted as a further dampening effect upon investor sentiment. It was not until December 2013 that the Excalibur claim was fully dismissed by Lord Justice Christopher Clarke in a Judgement which was highly critical of Excalibur and also of the manner in which the "gargantuan in scale" litigation had been conducted against both Gulf Keystone and Texas Keystone.[14]

Subsequent to removing the threat posed by Excalibur and moving toward the achievement of the "Phase Zero" production level of 40,000 barrels per day of production,[5] disruption in the region caused by ISIS[15] and the difficulties experienced by the Kurdistan authorities in paying fully for the oil being exported by three Kurdistan operators including Genel as well as Gulf Keystone[16] continued to adversely affect market sentiment.[1]

On 31 March 2015, GKP's chairman Simon Murray, formerly of Glencore and appointed in 2013, resigned amid a funding crisis at the company. He ignited fresh speculation about corporate activity involving Gulf Keystone when he revealed that the company had been involved in commercial talks with other oil companies. The company faced severe difficulties in collecting payments for oil from the Kurdistan government.[17]

[0ili0] 25/5/2019 21:40

Broadford - do you still see your mate Renardargente? The Aberdonian bringer of misery...lol

[bigdog5] 25/5/2019 21:26

Broadford, I agree, notwithstanding the views of the company I too believe they will need additional funds down the line. However, with the constant delays perhaps they are deliberately buying themselves time:-)

[chinese_takeaway] 25/5/2019 19:09

Headroom $500m as of march 27Probably sufficient :)

[broadford bay] 25/5/2019 18:54

bigdog,

I was castigated when I expressed the opinion that, contrary to the CEO's view that the company was "fully funded" to reach their Nbopd finishing line, you needed your head examined if you believe that.

That's still my view - and I'm not alone...

You know what they say: One man's issue is another's opportunity.

Opportunity knocks!

Wonder what the cash pile looks like now?

[0ili0] 25/5/2019 18:15

Are the Sothick guys ex JP Morgan or Captain Morgan?

[lippy4] 25/5/2019 17:16

I see the executive are still filling their bank accounts without sharing the spoils that they never earned...

[bocarugga85] 25/5/2019 16:53

Is BigDog4 as well informed as you BigDog5?

[ammu12] 25/5/2019 15:22

Sorry meant bigdog

[ammu12] 25/5/2019 15:22

Billy boy are you holding any shares ?