Gulf Keystone Petroleum Share Discussion Threads

[chinese_takeover] 01/7/2020 12:19

WHY THE TROLLS ARE HERE 24/7The Shaikan structure has a footprint the size of Greater London, plus the side lobe and the Cretaceous flanks. It is riddled with fractures and voids which are full of liquid oil. The Jurassic oil column is 950 metres thick and there is another 350 metres in the Cretaceous and Triassic.ERCE valued the undiscounted 2P oil reserves at $3.067 billion. There are also massive 2C and 3P oil Resources, plus 200 million barrels of very light condensate. GKP said in 2014 that ERCE had only included 10% of the formations in the Reserves and that the Oil In Place “hadn’t gone anywhereâ€?.The 24/7 trolls like the BIGDOG and macfly,patriotic Irishman etc etc try to persuade people reading the blog that GKP is not worth anything. But some of us know differently â€" and can prove it !LOL

[mcfly02] 01/7/2020 12:16

HabscamPaul 🤡

I challenge you to contact the company and prove or disprove what I say.

You won't because you know I'm right !

Put up or shut up 🤷‍a94;️

[habshan] 01/7/2020 12:05

Sarah - "As per your own posts they have made redundant 60% of the company including top management."

Your words Sarah not mine.

I didn't say they'd made 60% of the company including top management redundant, you did.

What the COMPANY said is that 60% of the EXPATRIATE WORKFORCE were being DE-MOBILISED:-

"currently demobilising the team until circumstances improve."

And that WORKFORCE are 3rd party contractors who can be quickly RE-MOBILISED.

As Highlander says:-

"All Project work is carried out by 3rd Party Contractors in any case NOT GKP staff.
A number of GKP Staff have been laid off , The yanks call it Temporary Lay off (TLO) its normal practice in times like this. Some , or all of them, will be brought back when normal operations resume. Dependant on the scale of same.

In addition ( having listened to the AGM) a few outside 3rd Party specialist Contractors specifically hired for additional project work , now put on hold , have had their contracts cancelled . Again all perfectly normal.
Note they have not been "sacked" because they were never permanently employed by GKP in the first instance."

Ops Update 12 days ago:-

"During this period of reduced activity, the Company continues to optimise its plans for a quick and effective restart of the 55,000 bopd expansion project."

A QUICK AND EFFECTIVE RESTART SARAH.

And when we go back to work, the locals will queueing at the gate desperate for their old jobs back as will the contractors.

You tell us that Bertrand Demond has NOT been made redundant but has left of his own accord, as has Jon Ferrier who is retiring. Nothing wrong with that, people move on all the time and they'll be replaced.

We are being paid again and the oil price has more than doubled from it's lows and is now over $41 which is the sort of price at which the Company was able to build their $200 million bank balance before starting the current development programme.

So you see Sarah your statement "there will be no development for a very longtime" is just you guessing and shooting from the hip again isn't it.

The fact is that NOBODY including YOU has the faintest idea of when development will restart.

[chinese_takeover] 01/7/2020 11:53

#GKP???Its been surpressed Obviously as the entire corporate city community know it's an imminent takeover..But that can't last forever https://t.co/83oRnrNsvr

[chinese_takeover] 01/7/2020 11:53

WHY THE TROLLS ARE HERE 24/7The Shaikan structure has a footprint the size of Greater London, plus the side lobe and the Cretaceous flanks. It is riddled with fractures and voids which are full of liquid oil. The Jurassic oil column is 950 metres thick and there is another 350 metres in the Cretaceous and Triassic.ERCE valued the undiscounted 2P oil reserves at $3.067 billion. There are also massive 2C and 3P oil Resources, plus 200 million barrels of very light condensate. GKP said in 2014 that ERCE had only included 10% of the formations in the Reserves and that the Oil In Place “hadn’t gone anywhereâ€?.The 24/7 trolls like the BIGDOG and macfly,patriotic Irishman etc etc try to persuade people reading the blog that GKP is not worth anything. But some of us know differently â€" and can prove it !LOL

[chinese_takeover] 01/7/2020 11:53

#GKP???Its been surpressed Obviously as the entire corporate city community know it's an imminent takeover..But that can't last forever https://t.co/83oRnrNsvr

[0ili0] 01/7/2020 11:46

Bigdog, but you waited from schooldays to 2011 before you accepted you'd never have a 911. About half a century! Now you've gone off the idea. But then again you're nearly 80 so a mobility scooter is probably more suitable. Comedy gold.

[bigdog5] 01/7/2020 11:38

Sleeping just fine thanks pensioner.

sarahgibbs, went off the idea of a Porsche. However, if you think that's comedy gold just wait but you misleading morons won't be the ones laughing:-)

All about the issues:-)

[steephill cove] 01/7/2020 11:22

McFly02,

Any PI who is still here is hardcore & is resolutely steadfast until GKP is taken over.

Like Todd Kozel once said, why shouldnt Private Investors benefit from the final GKP sale price. Back then, he told PIs to buckle up for a bumpy ride.

Anything you say, falls on deaf ears & all you are winding up is your own blood pressure.

Life is short & so are you on this share once more in the pursuit of your own greed.

[0ili0] 01/7/2020 11:15

Bigdog, if you'd got yourself a job stacking shelves, you'd have your Porsche 911 by now instead of 25,000 posts and a bitter obsession. Still it's comedy gold.

[pensioner2] 01/7/2020 11:04

Unable to sleep, Muttley? It's probably a guilty conscience.

[bigdog5] 01/7/2020 11:01

All about the "issues".

[bigdog5] 01/7/2020 10:57

Word from the City streets is that you rampers and those that have sought to mislead are screwed and will have copious amounts of egg on your faces. So deserving:-)

50p (0.05p) on the way.

[xomhero] 01/7/2020 10:52

SP rocketing.

First stop is £50 per share.
You can take that to the bank.

[mcfly02] 01/7/2020 10:40

HabscamPaul 🤡

As per your own posts they have made redundant 60% of the company including top management.

They have been told by what's left of the company that the company won't be restarting anytime soon and to find other jobs.

The CEO has also announced he's leaving.

Nothing will restart until the new CEO aka trough muncher is in place and he has evaluated the situation, only then would they consider hiring new staff who would then need site training and accustomisation.

But all this only when the oil price recovers and the KRG pay what they owe.

Over to you spin boy 🤡

[bigdog5] 01/7/2020 10:31

Word on the City streets is they're screwed.

[chinese_takeover] 01/7/2020 10:11

#GKP???Its been surpressed Obviously as the entire corporate city community know it's an imminent takeover..But that can't last forever https://t.co/83oRnrNsvr

[chinese_takeover] 01/7/2020 10:11

WHY THE TROLLS ARE HERE 24/7The Shaikan structure has a footprint the size of Greater London, plus the side lobe and the Cretaceous flanks. It is riddled with fractures and voids which are full of liquid oil. The Jurassic oil column is 950 metres thick and there is another 350 metres in the Cretaceous and Triassic.ERCE valued the undiscounted 2P oil reserves at $3.067 billion. There are also massive 2C and 3P oil Resources, plus 200 million barrels of very light condensate. GKP said in 2014 that ERCE had only included 10% of the formations in the Reserves and that the Oil In Place “hadn’t gone anywhereâ€?.The 24/7 trolls like the BIGDOG and macfly,patriotic Irishman etc etc try to persuade people reading the blog that GKP is not worth anything. But some of us know differently â€" and can prove it !LOL

[chinese_takeover] 01/7/2020 09:56

#GKP???Its been surpressed Obviously as the entire corporate city community know it's an imminent takeover..But that can't last forever https://t.co/83oRnrNsvr

[habshan] 01/7/2020 09:48

"Bert hasn't been demobilised, he has left the company permanently !
Thanks for confirming that there will be no development for a very longtime."

What makes you think that the departure of Bertrand Demont means there will be "no development for a very long time" Sarah.

If the CEO decides that he needs a Development Manager when we go back to work then he'll just hire another one.

But I assure you that the decision on if and when to go back to work won't depend on a Development Manager being in place.

[mcfly02] 01/7/2020 09:20

The latest GoatCam report is now available and it's something you need to read.

[beernut] 01/7/2020 09:05

Aramco CEO Says The Worst Is Over For Oil

By Tsvetana Paraskova - Jun 30, 2020, 1:00 PM CDT
The worst in the oil market is over, Amin Nasser, president and CEO of the world’s biggest oil company, Saudi Aramco, says, adding that he is “very optimistic” for the second half of this year.

Currently, global oil demand is somewhere around 90 million barrels per day (bpd), up from 75-80 million bpd in April, Nasser told IHS Markit Vice Chairman Daniel Yergin in an interview for CERAWeek Conversations.


“We see it in China today – it’s almost at 90%. In gasoline it’s around 95% in China. Gasoline and diesel are picking up to pre-COVID levels,” the top executive at Saudi Arabia’s state-owned oil giant said.

Recovery in oil demand will depend on whether there will be a second wave of infections, Nasser said, but noted that he is not overly concerned about that because countries and medical professionals will be much better prepared if a second COVID-19 wave hits.

Saudi Aramco, as the enforcer of the Kingdom’s oil production policy, has been instrumental in oil supply management to the market. This year, Aramco pumped 12 million bpd in April, and Saudi Arabia exported record volumes of crude, making good on its promise to flood the market with oil after the collapse of the previous OPEC+ deal in early March.

After the new deal was reached, Saudi Arabia’s oil production was slashed to in May to the required level of 8.5 million bpd.

The Saudis are now trying to reduce the inventory overhang in the United States and to tighten the market in Asia as the demand recovery continues to be slow while oil prices continue to be volatile and lower than what the Kingdom finds comfortable for its budget revenues.

Aramco is working to reduce its carbon footprint, Nasser told IHS Markit, while several European oil majors are going the extra mile and have pledged net-zero carbon emissions by 2050.

“I still believe that oil and gas will continue to be strongly part of the energy mix over the long-term. However, it’s going to be cleaner because we are working to make sure that we are reducing our carbon footprint,” Nasser said.

By Tsvetana Paraskova for Oilprice.com

[beernut] 01/7/2020 09:03

Oil Jumps After API Reports Largest Crude Draw This Year

By Julianne Geiger - Jun 30, 2020, 3:49 PM CDT
The American Petroleum Institute (API) estimated on Tuesday a major draw in crude oil inventories of 8.156 million barrels for the week ending June 26.

Analysts had predicted an inventory draw of 710,000 barrels.


In the previous week, the API reported an increase in crude oil inventories of 1.749 million barrels, after analysts had predicted a smaller build.

WTI was trading down on Tuesday afternoon prior to the API’s data release as minor ripples are felt due to reports of an increasing number of coronavirus cases in the world’s largest oil consumer, the United States.

On the supply side, oil production in the United States has now fallen from 13.1 million bpd on March 13 to 11 million bpd for June 19, according to the Energy Information Administration, after picking up steam from the 10.5 million bpd rate from week ending June 12--the lowest production level in years.