Gulf Keystone Petroleum Share Discussion Threads

[habshan] 18/11/2020 14:32

"The problems aren't imaginary and the proof is production is less than 5 years ago."

You just haven't got a clue have you Bigdog.

The plan and budget for the 55kbpd programme were approved by GKP MOL and the MNR in June 2018 and mobilization started soon after with materials and long lead items being ordered and with work starting some 6 months later.

During a period of intense drilling activity in Kurdistan GKP managed to source what was left, a Chinese rig which needed to be brought up to spec before it could be put to work, causing a delay to the drilling programme which started in April 2019.

At the point of lockdown we had three months work left to get to 55kbpd.

Had it not been for the Coronavirus the 55kbpd programme would have been completed last June, 2 years after the programme was given the go ahead.

A remarkable achievement with no delays that can be attributed to the asset which has behaved well and in accordance with expectations throughout.

The production has declined as they would in any wells the world over that have seen no subsurface maintenance, workovers, cleaning up or anything else in the 10 years since they were drilled.

That's why they're to be worked over.

[bigdog5] 18/11/2020 13:50

The problems aren't imaginary and the proof is production is less than 5 years ago and the ESP's haven't been installed. It was a simple easy cheap and fast job wasn't it? No company waits that long if that's the case.

As for leaving it to the experts. The same ones that took weeks to carry out simple workovers that should have taken days? The same ones that went looking for the gas cap and failed? The same ones that couldn't get back to producing the 40k in the predicted time that was then expanded to 55k in a much longer time frame? The same ones that haven't even now got back to 40k a day? The same ones that were targeting the lower zones to produce from but it now appears that's altered because of what's been found? The experts that have assisted in delivering less than 1p for all stakeholders ever since JF arrived?

"They know what they're doing, you don't".

Really? I beg to differ:-)

Are you sure they know what they're doing? Are you sure you're not just making excuses for all the failures that have resulted in an share price of less than 1p eleven years on?

[k4n4k] 18/11/2020 13:47

Only £101? That'll not get you much Claret.

[frenchybannedme] 18/11/2020 13:28

Yes, GKPhero, the long term chart has been showing the famous "Crocodile's head with a sticky out tooth" formation starting around June.

You know what always happens on completion of this formation, don't you?

[habshan] 18/11/2020 13:22

"The ESP's were going to be installed 4 years ago straight after the wipe out. They weren't for reasons that you just don't understand and/or desperately chose to deny."

Well whatever you think it was Bigdog it's irrelevant now isn't it.

The experts obviously overcame your imaginary problem and are now ready to fit the pumps as part of the workover programme when the lockdown is lifted shortly before we start pumping 55-60kbpd.

So all is well.

Leave it to the experts Bigdog.

They know what they're doing, you don't.

[jamiethebroadfraudster] 18/11/2020 13:15

#GKP have 210m shares in issue so each $1bn paid = £3.58 / share.470m 2p reserves ( forget about the huge value of180m 2C, massive gas volume, masses of condensate, + $500m recoverable costs etc ..)Just use a Very prudent $6/ boe = $2.82bn = £10.10/shareSee why so much effort gone into stiffing retail out pre T/O RNS !?

[bigdog5] 18/11/2020 13:08

Paul, they only had 620m Gross at the last CPR. They only have a net 54% because there's been no 2nd amendment to the PSC that would have increased it to 58%. In the last four years they would have pumped around 40m ish barrels. Then there's all the "issues" with the field that will have decreased the numbers. They may only have 250m in the P2 column. No one buys 2C numbers. DNO walked away. Its obvious no one believes the BS Kozel barrels as there would have been a deal years ago. Real heavy oil that's not been discovered or proven is there is worth naff all. Its why DNO walked away at much less than £1ps. If you stop sniffing cleaning fluid it may help:-)

[bigdog5] 18/11/2020 12:56

Any sign of the dividend? Cancellation of the buybacks? New CEO?

Come on highlander7, you being "ex industry" surely you would know?

[bigdog5] 18/11/2020 12:53

Has highlander7 got an update for us all like he said he had? Or was that just more BS from him?

Can he update us all on the re hiring of the staff that were "let go" in order for the company to survive? Is he doing the interviews yet?

[bigdog5] 18/11/2020 12:51

Anyone seen the 2nd amendment to the PSC that's been under discussion ever since JF rocked up "for the asset"?

[bigdog5] 18/11/2020 12:47

The ESP's were going to be installed 4 years ago straight after the wipe out. They weren't for reasons that you just don't understand and/or desperately chose to deny. Remain naive and continue to swallow the spin and hype as its so amusing and of course necessary to allow for the troughing. But be in no doubt, there are those of us that know the facts:-) Nice talking to ya.

Way less than 1p after 11 years rather proves its all about fantasy barrels?

[habshan] 18/11/2020 12:40

Bigdog - "There's nothing happening now h7."

Yet you can't work out why the workovers and installation of the ESPs is delayed.

You're just not the full shilling are you Bigdog.

[bigdog5] 18/11/2020 12:32

There's nothing happening now h7.

[habshan] 18/11/2020 12:13

"The easy cheap and fast "off the shelf" ESP's didn't get installed and you don't have the brains to understand why."

No Bigdog, even though it's been explained to you several times both on here and in RNSs, it's YOU who doesn't have the brains to understand why:-

Sept 2019, - "The workover campaign to install electrical submersible pumps ("ESPs") in existing wells has been moved into 2020 to coincide with the availability of new permanent facilities being installed as part of the 55,000 bopd expansion programme. These facilities will allow the wells to be cleaned-up more effectively when the ESPs are installed."

March 2020 - LOCKDOWN.

Sept 2020 - "The Shaikan reservoir continues to perform well despite a significantly reduced programme of additional wells AND WORKOVERS."

The installation of ESPs is part of the workover programme which as the rest of us already know Bigdog is currently delayed along with everything else.

Try to keep up and stop making a complete fool of yourself.