Gulf Keystone Petroleum Share Discussion Threads

[sbb1x] 24/1/2022 09:09

All eyes on federal reserve hopefully they raise rates in Wednesday

[dodger777] 24/1/2022 09:05

I’ve had all my original investment back in dividends so I think I’m laughing louder than you sucker 🤡☝7995;

[nobull] 24/1/2022 09:05

Tess_tickle, they can pay back the bond out of cash, and they can issue new debt to repay it if they want to.

Broadford Bay, hi, yes, you are right, of course, about GKP emphasising the positives and downplaying the negatives. Unfortunately a lot of companies seem to do this.

[kurdman63] 24/1/2022 09:03

Good Morning 😃

Was you pre warned ???

How long have we been telling you about water on SH12 ???

It’s taken the more than a year to inform you suckers.

How about the imminent SH13 or the problems at 14 ???

He who laughs last laugh’s loudest 😂😂😂

Goatcam 🐐🎥®

[officerdigby] 24/1/2022 09:03

Production guidance is for a lower production than that achieved previously with 3 weeks more. FACT.

[pensioner2] 24/1/2022 08:57

But they've always exceeded their production guidance and had to continually push it up. That doesn't square with hiding the negatives.

[broadford bay] 24/1/2022 08:51

As we have always said, economical with the truth; emphasising the positives and downplaying the negatives.

Nowhere for them to hide now,..

[blgdog] 24/1/2022 08:49

Haha you suckers still don’t believe me... I thought GKP couldn’t miss with the drill bit? All you clowns still believe the kozel numbers ?? No takeover? No buyback ?? No 55k?? LOL

[tess_tickle] 24/1/2022 08:48

GKP CURTAILS SPENDING TO MEET 2023 $100,000,000 BOND PAYBACK DEADLINE

[nobull] 24/1/2022 08:47

An increase in net production of 2,688 bopd is not great but it doesn't mean our company just drilled a couple of dusters. No, they haven't told us how the production increase came about (it could have been due to fitting pumps, I wonder?).

I really dislike the way our company is economical with the facts, just reporting the minimum legally required info. That's a sign of contempt for us, the owners.

[mr_todd_f_kozel] 24/1/2022 08:40

Absolutely , they look like they will make 4-500m extra free cash 2022.....with a starting point of 228m LOLOLOLOLSo prob yield 40-50% in divs ..... Without any m and a....Lol

[pensioner2] 24/1/2022 08:39

The market is gobbling these up. It will only stay at mates rates until they've got enough.

[officerdigby] 24/1/2022 08:33

Market not fooled then!

[gc321] 24/1/2022 08:31

Just need to let the big boys and their mates have their fill, whilst nervous holders are slowly milked of their shares

[blgdog] 24/1/2022 08:29

LOL I told you all last night they were dusters LOL

[paddyfool] 24/1/2022 08:29

Whilst its not sustainable, it will continue to be very high assuming the payments continue and the oil price remains high.

[nestoframpers] 24/1/2022 08:28

24 January 2022





Gulf Keystone Petroleum Ltd. (LSE: GKP)

("Gulf Keystone", "GKP" or "the Company")



Operational & Corporate Update



Gulf Keystone, a leading independent operator and producer in the Kurdistan Region of Iraq, today provides an operational and corporate update.



Jon Harris, Gulf Keystone's Chief Executive Officer, said:

"We are pleased today to declare an additional interim dividend of $50 million, bringing distributions over the past eight months to $150 million in line with our commitment to balance investment in growth with returns to shareholders.



Since the beginning of 2022, gross production peaked at just over 50,000 bopd and has averaged c.46,800 bopd, versus the 2021 average of 43,440 bopd. However, the lower productivity of recently completed wells, SH-13 and SH-14, and temporarily curtailed production from SH-12, have resulted in a delay in gross production increasing to 55,000 bopd. 2022 gross average production is expected to be 44,000 to 50,000 bopd.



GKP's substantial production base at current oil prices continues to generate significant cash flow and value for Gulf Keystone's stakeholders. On approval of our recently submitted Field Development Plan, we are well positioned to achieve sustainable growth from the Shaikan Field, which has delivered close to 100 MMstb, and has 489 MMstb of estimated 2P gross reserves remaining."





Operational



· Continued strong focus on safety in 2021 despite one previously reported lost time incident ("LTI"); currently no LTIs recorded for over 90 days

· Gross average production for 2021 of 43,440 bopd, at the upper end of guidance range; gross average production in 2022 year to date of c.46,800 bopd

· Drilling of SH-15 progressing well; continue to expect start-up in Q2 2022

· Due to well productivity, the increase in gross production towards 55,000 bopd has been delayed

o SH-13 & SH-14

§ Following completion of the acid stimulation programme on SH-13, and the clean-up of SH-14, both wells were brought on stream in December 2021 and their productivity has been below expectations

§ An acid stimulation programme for SH-14 is currently ongoing

o SH-12

§ Following the early appearance of trace quantities of water, production from the well has been temporarily curtailed, in line with the Company's prudent reservoir management strategy. The Company is investigating options to maximise near-term production from the well

§ Water ingress is common in fractured carbonate reservoirs like the Shaikan Field. Gulf Keystone has historically experienced trace amounts of water in a few other wells and has been successfully optimising their production levels. The Company continues to expedite plans to add water handling to further optimise production

· The Company does not expect any material impact on reserves or medium-term production potential. Considering cumulative gross production of c.99 MMstb, 2P gross reserves are estimated to be 489 MMstb at 31 December 2021, based on the 2020 Competent Person's Report adjusted for 2021 production



Financial



· Following $100m of dividends distributed in 2021, Gulf Keystone is pleased to announce that the Board has approved the declaration of an additional interim dividend of $50 million, equivalent to 23.394 US cents per Common Share of the Company

· The interim dividend is expected to be paid on 25 February 2022, based on a record date of 11 February 2022. The Company will disclose the pounds sterling rate per share prior to the ex-dividend date of 10 February 2022

· $283.2 million ($221.7 million net to GKP) received from the Kurdistan Regional Government in 2021 for payments of crude oil sales and recovery of outstanding arrears, with an additional $89.0 million ($69.7 million net to GKP) received in January 2022 for the combined September 2021 and October 2021 crude oil sales and arrears payments

· The current outstanding arrears balance is $28.6 million net to GKP related to the January and February 2020 invoices

· Robust balance sheet, with a cash balance of $228 million as at 21 January 2022



Outlook



· The Company expects gross average production for 2022 of 44,000 to 50,000 bopd, reflecting the anticipated production contribution from SH-15 and benefits of well workover activities

· Gulf Keystone continues to engage with the Ministry of Natural Resources ("MNR") following the submission of a draft FDP in 2021. The Company will revert to the market at an appropriate time with details on the FDP and updated production guidance

· With continuing strong oil prices and cash flow generation, there may be opportunities to consider further distributions to shareholders and to optimise the capital structure

[nobull] 24/1/2022 08:24

howard smith, I doubt there is any better div payer, but this is mostly the return of past capex so it isn't sustainable.

[howard smith] 24/1/2022 08:19

So we will have had approximately 50pence a share dividend by Feb which is not even a year so time for another divi before the year is over, that is quite a considerable return which not many other companies are paying that I can see, if anyone knows of a better paying share please let me know

[mr_todd_f_kozel] 24/1/2022 08:10

Better to buy back after the news , unless they. Can't do buybacks ...Corporate governance so close to sale / sale process :)

[beernut] 24/1/2022 07:51

UAE intercepts missiles launched by Houthis
The United Arab Emirates has destroyed two ballistic missiles launched from Yemen this morning.
By Ed Reed
24/01/2022, 7:25 am
Photo of Ed Reed
© Edward Reed/DCT MediaHighway from above at night lit up as cars drive along
The UAE has intercepted an alleged missile launch from Yemen. Picture shows; Abu Dhabi. Abu Dhabi. Edward Reed/DCT Media Date; 16/01/2022
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The United Arab Emirates has destroyed two ballistic missiles launched from Yemen this morning.

The Ministry of Defence (MOD) said air defences had “intercepted and destroyed” the missiles launched by the Houthi group. There were no casualties, it said, with remnants of the missiles falling around Abu Dhabi.

The interception follows an airborne strike last week from the Yemeni group on two separate areas in Abu Dhabi.

[nobull] 24/1/2022 07:43

"Current production at all time high
56,750 bopd

This will be confirmed in ops and corp update next week"

Another wrong prediction and another moniker's credibility used up.

44k bopd - 50k bopd is not great. I'd be surprised if the shares trade much above £2.25 on this, but I haven't done any calculations, and I don't know what effect the div declaration will have. No, I didn't want the div, and it's stupid doing share buybacks above intrinsic value, so I wouldn't expect any buybacks (no capital structure optimisation). The unwanted dividend is a bummer, but that's my own fault.

[shortsqueezer] 24/1/2022 07:38

It may still happen