Gulf Keystone Petroleum Share Discussion Threads

[releasethekraken] 21/1/2022 19:09

.HTTPS://twitter.com/ChicagoJack5/status/1484532663960616965?s=20

[releasethekraken] 21/1/2022 19:09

.HTTPS://twitter.com/GoodnightCharl1/status/1484191326019141632?s=20

[nobull] 21/1/2022 19:06

BroadfordBay, hi. SH-6 results? Are you talking about the never-again-to-be-mentioned-SH6 after the update below on 13th April 2012? I can't find any reference to SH-6 after that.

You mean they might be doing the same with SH-13 and SH-14, and we just have to work it out that both are dusters from the failure to ever mention them again?

I read somewhere that acid stimulation takes time (it's a slow reaction). Acid stimulation ought to work (one can't argue with the chemistry of it?), unless they have completely drilled miles off where the target accumulation is.


30 April 2012
Shaikan-6 Appraisal Well

The Shaikan-6 appraisal well, 9 km to the east of the Shaikan-2 appraisal well, has drilled to the depth of 3,455 metres in the Kurre Chine-B formation in the Triassic where casing has been set. A preliminary evaluation of the comprehensive logging suite indicates a continuous oil column in the Jurassic Barsarin, Sargelu, Alan and Mus formations and extending into the Butmah formation. Well logs from the Triassic indicate the hydrocarbon presence in both the Kurre Chine-A and Kurre Chine-B formations.

Shaikan-6 has recorded the deepest oil shows so far as indicated by both logs and core samples obtained by the Company. These oil shows have been recorded below the Company's originally prognosed Jurassic oil/water contact level for the Shaikan structure. A testing programme is planned to verify the deeper oil potential.

The well will continue drilling to an estimated TD of 3,800 metres, subject to technical conditions.

[mr_todd_f_kozel] 21/1/2022 17:24

Evening BROADFRAUD

[broadford bay] 21/1/2022 17:21

...remember that any bad news must be RNSd as soon as possible.

So, what's the difference between "Bad News" and bad results that are deemed "currently inconclusive" ?

Hint: look again at SH-6 results.

Answers on the back of a Penny Black...

[pensioner2] 21/1/2022 16:47

No wonder it was held down filling that 173k order.

[attyg] 21/1/2022 16:13

Regarding the summaries of the IC article on GKP (I have not read the article).
IC’s view on 8 May 2009 was – “Good value (at 17p) for risk-takers” according to OiLiO 648117.

IC’s opinion was proved correct – the share price shot up to over £3 from memory.

The IC has checked out GKP now, and their view, again according to OiLiO,
“Superb cash generator sitting on the mighty Shaikan oilfield”
Presumably the IC recommended GKP as a buy.

And why not.

GKP is no longer a high risk high reward company. It paid out $100m in dividends in 2021. It is highly likely to pay a further $100m in dividends in 2022, perhaps more. Let’s call it $0.50c per share, equivalent to £0.37p per share generating a yield of almost 18%. Where else can one get that yield?
What the share price or market cap was and is now is all irrelevant – the issue is, is GKP good value and is it a Buy, Hold or Sell, now.

With oil at over $80 a barrel and unlikely to be less than that for some time and with Shaikan soon to be pumping ~55,000 barrels daily the free cash generation is likely to be ~$300m in 2022 – so I think, once again, the IC has got their opinion on GKP right.

One also has to remember that any bad news must be RNSd as soon as possible. If SH13 proved to be too problematic and GKP can no longer expect to pump 55,000 barrels daily, then they would have to be like Genel and get that bad news out straight away. So, rather than get sidetracked by speculation, shareholders should trust their BoD.

Odd how there seems to be forces which stop the share price staying above 220p. I expect the next update will blow away this resistance.

While oil was cheap, China bought as much as they could and stockpiled millions of barrels. No need to secure the source of supply when oil is cheap. Different situation with the prospect of $100 oil. It is far from daft to think China could be interested in buying the Shaikan field.

[blgdog] 21/1/2022 14:33

Yep certainly looks that way Henry

[henrygondorff] 21/1/2022 14:19

Shaikan 13 a duster then.

[thebabe] 21/1/2022 13:13

Thanks Arcadian

21 Jan '22 - 10:50 - 648113 of 648123
0 15 0
GKP given a whole IC page today with a target consensus of 300p even though we all expect more at some point

[thebabe] 21/1/2022 12:35

You are right there OAP.


Completely incorrect.
Consolidation 100:1 immaterial.
merely made 100 shares of 1 cent = 1 share of 1 dollar.

Market cap to market cap reflecting the number of shares in issue at the time is the way to compare.........

The market share price - is controlled not by retail buying or selling - rather by investment banks and their market makers .

The company should be reporting next week, and I expect , as a minimum some of :
one off large special dividend / dividend policy perhaps quarterly / completed off market buyback / plus or minus an in market buyback program.

The company capital structure is hugely distorted in favour of equity over debt.

This needs addressing, by some or all of the above.

PS The company is the most attractive E + P takeover target on Earth.
Until the company sees a bid , we are unlikely to move near fair value.

Which is significant double figure pounds.

[nobull] 21/1/2022 12:35

Pensioner, and the moon is made of brown cheese, but it appears white because aliens shine coloured lights on it to obscure its original colour and JP Morgan controls what your eyes see.

[nobull] 21/1/2022 12:25

17p on 8th May 2009 surely is the equivalent of £17 because of the subsequent 100 for 1 consolidation: you are not comparing like with like: the ownership of Shaikan was divided up differently pre and post consolidation. Or did you adjust the IC price?

[pensioner2] 21/1/2022 12:17

Why have they left you to hold the fort, nobull? You're not even good at it.

[thebabe] 21/1/2022 12:06

The market share price - is controlled not by retail buying or selling - rather by investment banks and their market makers .

The company should be reporting next week, and I expect , as a minimum some of :
one off large special dividend / dividend policy perhaps quarterly / completed off market buyback / plus or minus an in market buyback program.

The company capital structure is hugely distorted in favour of equity over debt.

This needs addressing, by some or all of the above.

PS The company is the most attractive E + P takeover target on Earth.
Until the company sees a bid , we are unlikely to move near fair value.

Which is significant double figure pounds.

[goatcam] 21/1/2022 12:01

well... things are always the same until one day they are different. GKP will be independent until one day its not...

[0ili0] 21/1/2022 11:45

From IC:

A discovery in Kurdistan would be transformational, but the risks are considerable given the company's delicate financial position and poor operational performance elsewhere. Good value for risk-takers.

Last IC View: Good value, 17p, 8 May 2009

0ili0 View: Superb cash generator sitting on the mighty Shaikan oilfield, 212p, 21 January 2022

How things change....

[nobull] 21/1/2022 11:43

A whole page was a waste of space. He could have just said buy because it's making new highs. I would have liked to have read an article with info about the geology, the politics and the oil price outlook. Charts, moving averages, not my thing.

[goatcam] 21/1/2022 11:36

H7, that's why they are trying their hardest to drop the share price Trying to put off potential buyers. Nobody buys a falling share price - always wait for the next day when its falling 1% a day.... but keep waiting too long and it will be too late.

If the share price keeps rising everyday, that will make even more people pile in... so they better not allow that!

[highlander7] 21/1/2022 11:25

That should bump the price up. Readers usually follow buy recs.