Gulf Keystone Petroleum Share Discussion Threads

[sbb1x] 22/9/2021 15:32

#OOTT | #EIA weekly data#Crude stocks -3.481M #Gasoline stocks +3.474M#Distillate stocks -2.554M#Cushing stocks -1.476M

[steephill cove] 22/9/2021 15:25

GKP has already retested 200p+ yet again, after a 52 week high at 202.5p and it is now a bull flag breakout targeting 300p, looking highly likely too with:-

1) Peel Hunt setting a GKP BUY target of 275p per share on 11/6.

2) GKP MACD has now turned upwards on the GKP chart after the 2nd GKP Special Dividend was paid out on 6/8.

3) There will be increased institutional & PI buying pressure to buy in & qualify for the Interim Dividend of at least 16.75p by 23/9 (T+1) before the record date cut off of 24/9.

4). Shaikan 13 well has been in progress ahead of schedule & the drill results are due any day now, taking GKP Shaikan BOPD production UP from its 2021 production guidance range of 42,000 - 44,000 BOPD.

5). Drilling of SH-14 underway with completion and hook-up expected in Q4 2021 as part of 55000 BOPD expansion programme.

6). Completed debottlenecking of PF-2, increasing total field processing capacity to c.57,500 BOPD.

7). Continuous drilling & planning to spud SH-G in Q4 2021, after completion of SH-14. SH-G is expected to commence production in Q1 2022

8). Continuing to work closely with the MNR and partner on the preparation of the Shaikan FDP and expect to submit the FDP to the MNR in Q4 2021 for approval.

9). GKP about to imminently launch a 10 percent share buyback of 21.3 MILLION shares & then retire them.

Just over 1 hour left. Miss in, miss out ;-)

[nestoframpers] 22/9/2021 15:24

Still under £2 te he , it's like you have hooked Jaws but the monster just puts a gentle strain on the line .

[zangdook] 22/9/2021 14:27

"If a dividend is to be made ex, the dividend must be declared via a PIP or
notified to the Exchange at least six business days before the proposed record date"

"The announcement must include the dividend amount"

Pretty clear.

[supergiantshaikan] 22/9/2021 14:14

HTTPS://twitter.com/Paul47293202/status/1439475908201664517?s=19

[supergiantshaikan] 22/9/2021 14:14

All any investor needs to knowHTTPS://twitter.com/OilGasTracker/status/1435194672633237506?s=19

[supergiantshaikan] 22/9/2021 14:14

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[bigdog5] 22/9/2021 14:04

JackPotJack21 Sep '21 - 22:46 - 641054 of 641096
0 5 1
"Ha ha ha yes a company dependant on this well alone.

Nothing else going on here except this one drill!"

Ever more proof that you delusionals miss the clues and therefore don't understand the impact they have on your investment.

[pensioner2] 22/9/2021 13:57

If you re-read the rns, zangdook, it's not a divi declaration. It says the new shares in issue would result in a divi of... The divi declaration has to be in sterling as that's the currency of the share float. That only happens once the conversion rate has been fixed i.e. when it's paid imo. Also, if Todd is right and there is a big buyback, that too would affect the divi rate. Leaving room for manoeuvre possibly?

[officerdigby] 22/9/2021 13:52

GKP follows its own rules. IMO.Something about then Bermudan incorporation.

[zangdook] 22/9/2021 13:47

That's right, P2, on 9 June they declared the dividend amount per share in US$
for the last two dividends, well in advance. They didn't declare the conversion rate until the respective record dates, so I expect we'll get an RNS on Friday. What I'm pointing out is that this time they haven't yet declared the dollar amount per share. How are spread bet companies supposed to adjust for ex-dividend tomorrow? They'll have to make their own estimates. How is the market supposed to function? On AIM it's a rule that companies have to declare the payment amount in good time - does the main market not have a similar requirement?

[sbb1x] 22/9/2021 13:34

EIA data this afternoon expecting a big fat oil draw. New 52 week high coming in oil next week

[pensioner2] 22/9/2021 13:23

On 9/6 they simply said the total shares in issue would result in a dividend of $0.117 but they gave no figure for the £ value of that. On 25/6 after the dividend had been paid they announced the conversion rate and said it resulted in a payment of £0.8373 per share. So we won't know until 9/10.

[attyg] 22/9/2021 13:21

zangdook 641090

Fair enough comment.
I am working on 17p per share
213,731,117 shares in issue per GKP website
$50,000,000 dividend equates to 23.39c per share.
At an FX rate of $1.37 to the £1
That equates to 17p
Probably a tad less.
We will find out soon.

[eddie47] 22/9/2021 13:19

Zangdook. It is because it is a lump sum in dollars and therefore subject to the fluctuations of the currency market.

[supergiantshaikan] 22/9/2021 12:55

I'd expect an RNS soon that is either/and/or1 We have bought back to cancel off mkt 20/30/40/50/60m shares using our proxy Deutsche Bank or whoever...2 we are starting an in mkt buyback

[zangdook] 22/9/2021 12:49

The last 2 dividends they announced the amount per share on 9 June, for ex- dates of 24 June and 29 July. So it seems a bit weird to me that the day before we're still working it out ourselves on the back of an envelope. This is the only company I know that declares dividends by the total amount they'll be paying and not the amount per share.

[pensioner2] 22/9/2021 12:41

Current Brent $75.67 but trading volume muted. They're holding back for the European figures and, if they're a big draw, $76 will get blown away. $80 looks to be the new target imo.

[beernut] 22/9/2021 12:41

Gastech 2021: OPEC chief says Euro gas crunch highlights need for more fossil fuel investment
By VERITY RATCLIFFE, ANNA SHIRYAEVSKAYA AND ANTHONY DI PAOLA on 9/21/2021

(Bloomberg) --The world’s biggest gas traders and producers are meeting in Dubai this week for the Gastech conference -- the first major in-person event for the industry since the onset of the coronavirus pandemic.

The conference, running from Sept. 21-23, is happening just as Europe faces a gas crunch, with prices spiking to record levels and analysts warning that some countries could face blackouts when winter sets in.

European Utilities Say Little Can be Done in Short Term (12:30pm)

“Little can be done” about high gas prices for now as remedial steps take months to have any impact, said Didier Holleaux, executive vice president of French energy company Engie SA. “We hope the start of the winter will not be too cold in the northern hemisphere. Otherwise, we are in trouble.”

German utility Uniper SE said that credit risks in the industry are increasing, and more companies may suffer liquidity problems. There’s little sign that Russia is withholding gas supplies to western Europe, said Niek Den Hollander, Uniper’s chief commercial officer.

Russia’s Gazprom PJSC needs to replenish its own stocks for the local market, said Holleaux, which is one reason it can’t boost exports much.

Turkey Says ‘Very Tough’ as Gas Rises (12:00pm UAE)

The rise in gas prices means this year will be “very tough” for importers and Turkey will struggle to buy as much LNG as in 2020, said Deputy Minister of Energy and Natural Resources Alparslan Bayraktar. Demand in the country will be “very high” at 60 billion cubic meters in 2021, he said.

The government is negotiating new gas contracts with Gazprom, he said, adding that they may be hybrid models with pricing linked to oil and gas indexes. It’s also talking to LNG suppliers, he said, without naming them.

Turkey plans to start producing gas from recent finds in the Black Sea in 2023, he said. Those will eventually reduce the country’s imported-gas dependency from 100% to around 75%, he said.

Qatar Says Demand for LNG is Huge (11:50am UAE)

“There is huge demand and we basically have a set capacity,” Qatar’s energy minister, Saad Al-Kaabi, said. The country is the world’s biggest exporter of liquefied natural gas and is investing billions of dollars to increase production, though the project will take years.

“They are queuing up for LNG,” he said. “We have huge demand from all our customers and unfortunately we can’t cater for everyone.”

LNG prices in Asia have spiked almost 50% this month to $27.19 per million British thermal units. That’s the energy-equivalent of around $155 per barrel of oil.

“We don’t want these high prices,” he said. “We don’t think its good for consumer.”

[beernut] 22/9/2021 12:37

Oil prices rise on expected U.S. stocks draw
PUBLISHED WED, SEP 22 2021 4:16 AM EDT
UPDATED 9 MIN AGO
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GP: Oil pump
Working oil pumps against a sunset sky.
Imaginima | E+ | Getty Images
Oil prices climbed more than $1 on Wednesday, extending overnight gains after industry data showed U.S. crude stocks fell more than expected last week in the wake of two hurricanes, highlighting tight supply as demand improves.

Prices were also supported as some OPEC members struggle to raise output and by a general sense of energy market shortages amid a power and gas crisis in Europe.

[attyg] 22/9/2021 11:06

What any BoD does not want to do is to have a declining dividend rate.

GKP was punished last year when it found it was unable to follow through on the dividends paid out in 2019.

Of course the covid pandemic and ISIS etc demonstrate that life delivers unknows which can affect so many companies, but, based upon what knowledge the GKP BoD has in its possession, now, they will be confident of delivering at least $100m in dividends in 2022, in my opinion - indeed, I am confident they expect to deliver more.

So, perhaps, we won’t see an enormous drop in the share price on Friday?

[notaramper] 22/9/2021 10:56

Ex-dividend is tomorrow.1 day before record date.

[officerdigby] 22/9/2021 10:55

Last day to buy is today.

[habshan] 22/9/2021 10:44

zangdook - "ex-dividend tomorrow"

Friday.

From HYR - "The 2021 interim dividend is $50 million to be paid on 8 October 2021 based on a record date of 24 September 2021."