Gulf Keystone Petroleum Share Discussion Threads

[habshan] 26/6/2022 16:39

Sarah -" Has the company finally realised how pathetic their performance has been since the wipeout of 2016?"

For whatever reason, the MNR didn't pay us what they owed when they owed it.

If they had, the company would have been able to service their $600 million debt, there would have been no restructuring, we could have got on with developing the field and we would have been producing 110kbpd donkeys years ago.

It ALL comes back to that. Missed and erratic payments.

That's why Ferrier waited 2 years after the restructuring until a regular payment cycle had been established and we had $200 million in the bank before agreeing to start spending again.

Absolutely NOTHING to do with the field or company performance.

[highlander7] 26/6/2022 16:16

Let Doggie rabbit on about his 55k bbls a day. What he forgets to tell you is that John Ferrier stopped investing in production until the Kurds had set up clear and regular payment mechanisms. Then we had nearly 3 years lost to COVID.

Nothing wrong with the Company, in fact they have done a superb job under the circumstances.

H7

[turvart] 26/6/2022 15:56

Bigdog5,

You wrote: "Has the company finally realised how pathetic their performance has been since the wipeout of 2016? Have they also realised they can't progress and fix all the many very costly problems? Are there any clues in the fact that they've paid off the bond debt:-)

Its only the OP that has come to the aid of the BoD which has allowed them to hand out excellent divis which are being used to "disguise" their pathetic performance since the "first wipeout". Notwithstanding all the excuses you morons "dream up"."

One thing I've noticed with you is the fact you have this negativity about the company mot hitting the 55K BOPD like they hoped in previous reports, so do you think traders won't buy into GKP unless the BOPD get to 55k? Is this how you think? With your comment about not fixing costly problems, I take it your talking about the water Issues? So ok they have a few issues so what's the big deal with a slight water problem that get's dealt with and when the get the new water handling systems and then shut it down for maintenance it will be a lot better, so why are you being so negative about such a minor issue?

With your comment about the OP coming to the aid of divvies, well to be honest I shake my head in disbelieve that you could resort to such Frivolous comments, of COURSE it's the high oil price.

You know what bigdog5 you really are a vexatious and also very boring person.

[ptmorris1] 26/6/2022 15:01

@Bigdog5 26 Jun '22 - 14:18 - 656256 of 656258

Exactly Rover. Fancy holding on to these shares still knowing that they will collapse even further; so glad that you convinced me to sell.
Mind you, it's a shame that the non-holders will miss out on all these upcoming share dividends.

[shortsqueezer] 26/6/2022 14:24

I won't even bother to click on that. The title tells you enough.

[shortsqueezer] 26/6/2022 14:22

I wonder how many Todd owns now. If anyone outside the directors and other insiders know what the true value is then it's him.

[bigdog5] 26/6/2022 14:18

I note that sarahgibbs the cross dressing BS err mixed up her avatars earlier, so desperate. Another one flushed down the dunny.


h7, I note that you've decided to alter your stance from telling all here that Erbil will tell Baghdad to "do one" to one of "The Kurds have to compromise". But by how much:-)

h7, "No Doggie , Malcy is only repeating what he was told in his call to GKP. A GKP BOD representative told him that".

LOL, exactly, nothing that can be attributed to the company? That's how its done. Lost in translation, innit:-) Big up anything positive, spin the negative and say naff all about the dodgy stuff. Been trying to get that through to you thickos for years!!!

So if as you clowns believe that Baghdad are only after a couple of fields what would you expect the Kurds could be dropping into their "KROC POT"?

Has the company finally realised how pathetic their performance has been since the wipeout of 2016? Have they also realised they can't progress and fix all the many very costly problems? Are there any clues in the fact that they've paid off the bond debt:-)

Its only the OP that has come to the aid of the BoD which has allowed them to hand out excellent divis which are being used to "disguise" their pathetic performance since the "first wipeout". Notwithstanding all the excuses you morons "dream up".

Is the "second" one on the horizon?


You're welcome as always and all for free:-)

[nestoframpers] 26/6/2022 14:17

Surely 60% of the population can not be this stupid? What will they eat with no farming happening?

"Over 60% of the UK population want no more new oil drilling."

this is a claim from this website

[pensioner2] 26/6/2022 13:13

Spot on howard.

[howard smith] 26/6/2022 13:09

Of course they know who it is because all of the dividends money gets paid out to all the shareholders and there is not a great lump of cash going nowhere after each divi payout as stated in the financial reports. GKP hide behind that third party shareholder analysis for a reason which we just do not know why!

[beernut] 26/6/2022 13:06

Can they not state who the shareholder is ( if they know it’s from a single major shareholder) they must know who it is. ?

[beernut] 26/6/2022 13:01

From Proactive investor

Gulf Keystone Petroleum confirms ‘significant cash flow’ from Shaikan field

The company expects to produce 44,000 to 47,000 barrels of oil per day over 2022

Gulf Keystone Petroleum Limited - Gulf Keystone Petroleum confirms ‘significant cash flow’ from Shaikan field
Gulf Keystone Petroleum Limited (LSE:GKP) told investors it has continued to drive significant cash flow generation from the Shaikan field, its flagship asset which is located in the Kurdistan region of Northern Iraq.

The company, in a statement ahead of today’s AGM, said cash flow generation amounted to US$348.8mln in 2022 to date, paid via the Kurdistan Regional Government (KRG), including both oil sales and revenue arrears.

All past outstanding balances have now been paid by the KRG, GKP noted, and now in turn the company is taking steps to boost its financial arrangements.

It said it intends to call its remaining US$100mln bonds, which will leave the company debt free.

Significantly, today’s AGM will include a vote to approve part of the company’s proposed US$190mln dividend (with US$75mln subject to the AGM vote).

GKP highlighted that production in the year to date has averaged 44,900 barrels of oil per day and, as it prudently manages well performance to avoid flowing water, it said it is now "tightening" its guidance for 2022 to 44,000 to 47,000 barrels of oil per day.

“The installation of water handling facilities will unlock upside production potential and we continue to explore acceleration options in a supply constrained market,” chief executive Jon Harris said.

“In the near-term, we continue to progress our well workover and intervention programme to optimise production.”

The company also noted that it continues to work towards further field development, with its field development plan (FDP) presently awaiting a greenlight.

“While timing of approval remains uncertain, we also continue to make positive progress on the FDP as we prepare to resume drilling and ramp up production,” Harris added.

Alongside its production guidance for 2022, the company noted that its forecast of gross operating costs remain unchanged at US$2.90 to US$3.30 per barrel and similarly its anticipated capital spending of US$85mln to US$95mln.

[thebabe] 26/6/2022 12:01

48% did not vote at all42% sit outside top 10We do know that of the 52% that did vote Lansdowne were 15% .If you don't reveal beneficial ownership you CANT vote.I reckon of the 42% outside top 10 20-30% could be stakebuilding.Anyway onwards:)

[highlander7] 26/6/2022 11:57

Jaap is a Shell trained professional project manager in projects $1 billion + . Why do you think he is there ?

H7

[pensioner2] 26/6/2022 11:44

Re 656243, do we know who voted for what? If we know how those three companies voted it might explain some mysteries.
There's a lot of gas in Shaikan. 1 box ticked.
52% didn't vote. If 25% was in those three shareholders it might be because they couldn't vote?
Maybe Shell themselves or their nominee hold a chunk?
There's too much opacity about that missing 52%.
It could be they have the clout to push through a deal now, once the politics are sorted.
Perhaps that's what Lansdown don't like about Jaap and want rid of him so that a competitive bid can emerge?

[shortsqueezer] 26/6/2022 10:40

And I'm very happy to take it :-)

[beernut] 26/6/2022 10:26

From Lse

ShareholdingToday 10:07
What do the Dutch Know?

Stichting Administratiekantoor van Gewone Aandelen A Van Lanschot 11.08%
Hof Hoorneman Bankiers N.V. 10.02% (note Hof owned by Lanscot)
InsingerGilissen Asset Management N.V - 3.84%

In my eyes that gives one company a 20% block and Dutch companies through three funds holding 25% - think of who old management was Jaap - could Shell be silently looking at GKP

Historically they were stopped by government because of involvement in Basra pressure was put on - they might want Iraq government blessing to take over the next Kirkuk - ie under a federal OG law !!!

Don’t know but there is a heavy Dutch hand somewhere

[thebabe] 26/6/2022 10:22

It's a very decent rate to be paid to wait..

[shortsqueezer] 26/6/2022 10:06

Even better. I was just using an online conversion calculator which was supposed to be up to date.

[thebabe] 26/6/2022 10:00

Total 34.68÷1.228 = 28.24p. 10.8% yield (not annual , just JULY :) )

[steephill cove] 26/6/2022 08:48

Agreed. GKP was never & will never be a target because it has always sat within both the Line of Control both pre 2014 & after ✅🚂8200;🏁ӿ42;👍💪;