Gulf Keystone Petroleum Share Discussion Threads

[bigdog5] 03/11/2019 17:05

"The money owed was building up and Gulf’s cash reserves were dwindling, and it looked like the only thing that could save it was an about-face from the KRG and the commencement of payments".

How good of them. Shareholders can feel so proud that they were sacrificed in order that they didn't suffer at all?

"Thankfully, that’s exactly what happened, and the KRG has been good to its word ever since – it must sooth the heart of every Gulf Keystone investor to see that “Shaikan Payment Update” headline every month"

LOFL. What a novelty expecting the hosts to pay for the oil that's being produced and has made them extremely rich?

"a situation that must turn investors in a lot of other small oil companies green with envy".

LOFL, does he mean all those that weren't wiped out by certain individuals incompetence?

"And even after the downgrade, Gulf’s estimated production rate still comes in at 30,000 to 33,000 barrels per day".

Does the author understand the figure is not all the company's?

It appears that the author is missing a great many pieces of the jigsaw imho. Methinks he needs to do a great deal more research.

[pensioner2] 03/11/2019 16:25

Not sure you'll manage to bag many, Atino, if you put in buy orders around those levels. The volume has been dreadful this last week or two and there's a shorter of 1.3m trying to escape but, so far, has only managed to collect about 22k. Good luck.:)

[atino] 03/11/2019 14:33

(I say that because...) that support...at £1.70p looks even...SUPER stronger (...should a worse case scenario, then occur - unlikely 😇...but you never)

[atino] 03/11/2019 14:19

(You know...) I once considered this for my longer term investment @ £2.50’ish 💭💭💭(...but opted for the current PLATINUM 🤩 bull run 🏃‍a94;️ 🙇 shhh 🤫🤑🤑🤑)



...might need to revisit THIS...”GKP share” ! 😉 hmmm (...not bad value @ £2 😉). Perhaps...orders to collect anything below two’ers, should be set ? 🤷🏻‍♂️💭💭

[atino] 03/11/2019 14:15

“Support”; looking heathy at £2 (...on the chart) IMO - holding strong 💪🏻 😉

[atino] 03/11/2019 14:12

(Quote 🙇) Can the Gulf Keystone Petroleum (GKP) share price double your money?

A few short years ago, Gulf Keystone Petroleum (LSE: GKP) was tottering on the edge of going bust, with the company delivering oil to the Kurdistan Regional Government (KRG) without being paid. The money owed was building up and Gulf’s cash reserves were dwindling, and it looked like the only thing that could save it was an about-face from the KRG and the commencement of payments.

Turnaround 😉🤫

Thankfully, that’s exactly what happened, and the KRG has been good to its word ever since – it must sooth the heart of every Gulf Keystone investor to see that “Shaikan Payment Update” headline every month 👍🤑🤑🤑

On top of that, under the leadership of chief executive Jón Ferrier, the company has refinanced its debt, is generating steady profits, and has even reached the point of paying dividends – a situation that must turn investors in a lot of other small oil companies green with envy.

A few factors have resulted in a share price retrenchment in recent months, as earnings are expected to fall this year. There have been some delays, and a maintenance and upgrade phase has led to some production capacity being taken temporarily offline.

But that’s clearly short-term stuff and it should leave the company in a better state to raise its production levels in the future.

Healthy production

And even after the downgrade, Gulf’s estimated production rate still comes in at 30,000 to 33,000 barrels per day. I think it’s interesting to compare that with UK Oil & Gas, whose test well production of Portland and Kimmeridge hydrocarbons at Horse Hill has reached a little over 71,000 barrels – total, ever.

The faltering oil price hasn’t helped as the world production glut continues, and prices around $60 aren’t inspiring confidence.

Still, even on reduced earnings expectations for this year, the shares are trading on a forward price-to-earnings (P/E) ratio of under 12. What’s more, if the mooted 70% jump in EPS for 2020 comes off, GKP shares would be on a P/E ratio for that year of only 7 – unless, of course, the price doesn’t rise in the meantime.

Buyback

It’s not just me who thinks Gulf Keystone shares are on a bargain price now. The company itself does too, and it’s been steadily purchasing its own shares since a buyback programme was announced in July.

So what we’re looking at here is a smaller oil company that’s raking in cash, saw its year-end cash balance reach $295.6m last year (from $160.5m a year previously), says it’s fully funded for all phases of its Shaikan expansion, and has enough of the folding stuff to be paying dividends and buying back its own shares.

Expansion

Add to that the planned expansion of production capacity, and as long as we see no major disasters in the meantime, if 2020 profits come close to what is currently being anticipated then I can see a significant share price up-rating on the cards.

The chance of Gulf Keystone doubling your money over the next five years? I reckon it’s probably higher than with any other oil company on the market right now.

Alan Oscroft has no position in any of the shares mentioned.

[beernut] 03/11/2019 08:57

Syria Crisis: Trump Says "I Like Oil"

BasNews 02/11/2019 - 15:43 Published in Middle East
Syria Crisis: Trump Says "I Like Oil"

Tagged under en
ERBIL - As speaking to reporters on the latest developments in Syria, US President Donald Trump frankly said that "I like oil," and that Washington's plan is to secure the oilfields in the Middle Eastern country.

The US top official has reaffirmed that Washington is not interested in patrolling the Turkish-Syrian border, pointing out that the US' main interest was to control the oilfields in Syria.

"The ceasefire has held very nicely. We’ve kept the oil. We’ve stayed back and kept the oil. Other people can patrol the border of Syria, frankly, and Turkey, let them - they’ve been fighting for a thousand years, let them do the border, we don’t want to do that. We want to bring our soldiers home," Trump told reporters on Friday.

"But we did leave soldiers because we’re keeping the oil. I like oil. We’re keeping the oil."

Earlier in October, the White House declared the withdrawal of the US forces from Syria and which gave the green light to the Turkish army to move into the country to target the Kurdish fighters in the border areas.

[gkphero] 03/11/2019 08:16

Secretly holding GKP for a maximum of £150 per share.

Worst case is £50 per share.

[guypender] 02/11/2019 22:44

Anyone watch this guy?
Rebuilding a 1910 Gaff Cutter

[urals] 02/11/2019 21:08

The company is SOLD obviously, no new FD required. Board have tried to tell you.Where's Zouari's replacement? There should have been at least a full month hand-over period, preferably much longer. He's going a month from now. Are they going to outsource the accounting function to Arthur Andersens? So many questions and so few answers. (So far) :):):)

[urals] 02/11/2019 21:07

Correct Chinese, current EV :2p.is an absurdly low 0.80!!Nest of rampers if the sake is by scheme will be announced no later than this Thursday, to become effective by Dec 2,if its tender offer Then 29/11 or before. RE: Fixed Sum Dividends.Today 05:44The trolls ignore the detailed analysis by GKP house broker Peel Hunt. Their current Peel Hunt measurement of the Enterprise Value per 2P barrel of GKP and peer group companies are:EV per 2P barrelShaMaran $15Soco $6Genel $3DNO $3Nostrum $2.5*GKP $1.1Average $5.1* reducing to $0.8 by 2021This shows the massive underpricing of the GKP shares. Compared to the peer group average it was a factor of 5, forecast to increase to more than 6 by 2021.Applying that factor to the current share price, the valuation rises to about £13 per GKP share.

[mcfly02] 02/11/2019 21:05

It will be interesting to see who announces the new CFO first ???

Will it come in an RNS ???

Will they tweet it like they did with SH9 ???

Will HabscamScot say it's been known for months but has failed to tell anyone because he thinks it's not important ???

Will it be left to me to inform the neglected shareholders again ???

The next 2 weeks will be interesting for some and very embarrassing for others.

[urals] 02/11/2019 20:51

Correct Chinese, current EV :2p.is an absurdly low 0.80!!Nest of rampers if the sake is by scheme will be announced no later than this Thursday, to become effective by Dec 2,if its tender offer Then 29/11 or before. RE: Fixed Sum Dividends.Today 05:44The trolls ignore the detailed analysis by GKP house broker Peel Hunt. Their current Peel Hunt measurement of the Enterprise Value per 2P barrel of GKP and peer group companies are:EV per 2P barrelShaMaran $15Soco $6Genel $3DNO $3Nostrum $2.5*GKP $1.1Average $5.1* reducing to $0.8 by 2021This shows the massive underpricing of the GKP shares. Compared to the peer group average it was a factor of 5, forecast to increase to more than 6 by 2021.Applying that factor to the current share price, the valuation rises to about £13 per GKP share.

[bigdog5] 02/11/2019 20:33

Perhaps Pender should contact Penge HQ, ask for shediak for a fantasists view on progress.

[pensioner2] 02/11/2019 20:12

Where's Zouari's replacement? There should have been at least a full month hand-over period, preferably much longer. He's going a month from now. Are they going to outsource the accounting function to Arthur Andersens? So many questions and so few answers. (So far) :):):)

[chinese_takeaway] 02/11/2019 19:21

Correct Chinese, current EV :2p.is an absurdly low 0.80!!Nest of rampers if the sake is by scheme will be announced no later than this Thursday, to become effective by Dec 2,if its tender offer Then 29/11 or before. RE: Fixed Sum Dividends.Today 05:44The trolls ignore the detailed analysis by GKP house broker Peel Hunt. Their current Peel Hunt measurement of the Enterprise Value per 2P barrel of GKP and peer group companies are:EV per 2P barrelShaMaran $15Soco $6Genel $3DNO $3Nostrum $2.5*GKP $1.1Average $5.1* reducing to $0.8 by 2021This shows the massive underpricing of the GKP shares. Compared to the peer group average it was a factor of 5, forecast to increase to more than 6 by 2021.Applying that factor to the current share price, the valuation rises to about £13 per GKP share.

[bigdog5] 02/11/2019 19:17

What's the "sake" scheme? Anything to do with ringfencing?

Did anyone else get a letter from the Chairman saying its sold?

SP looks massively over the top according to the broker.

[chinese_takeaway] 02/11/2019 18:36

The Chairman has told everyone all they need to know.Sold

[guypender] 02/11/2019 18:31

You are a real meanie not sharing your info with us oilman. In reality we are all in the same boat. Just trying to make a few extra quid to enjoy what's left of our lives :)

[nestoframpers] 02/11/2019 15:36

Kurdistan 24 English
‏
Verified account

@K24English
7h7 hours ago
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US forces began patrols at oilfields on Mount Qarachokh near Derik in northeastern #Syria on Friday. #TwitterKurds

[nestoframpers] 02/11/2019 15:35

Roll on Thurs then , until then keep busy and keep buying.

[urals] 02/11/2019 14:48

Correct Chinese, current EV :2p.is an absurdly low 0.80!!Nest of rampers if the sake is by scheme will be announced no later than this Thursday, to become effective by Dec 2,if its tender offer Then 29/11 or before. RE: Fixed Sum Dividends.Today 05:44The trolls ignore the detailed analysis by GKP house broker Peel Hunt. Their current Peel Hunt measurement of the Enterprise Value per 2P barrel of GKP and peer group companies are:EV per 2P barrelShaMaran $15Soco $6Genel $3DNO $3Nostrum $2.5*GKP $1.1Average $5.1* reducing to $0.8 by 2021This shows the massive underpricing of the GKP shares. Compared to the peer group average it was a factor of 5, forecast to increase to more than 6 by 2021.Applying that factor to the current share price, the valuation rises to about £13 per GKP share.

[bigdog5] 02/11/2019 14:48

Wasn't there supposed to have been a takeaway concluded by now?

[bigdog5] 02/11/2019 14:46

Looks like the share price is well over the top. They've used that figure for a reason and to expect it to warrant being valued at the average is clearly incorrect.

This shows the current share price is massively overpriced.