Gulf Keystone Petroleum Share Discussion Threads

[giant_canine] 04/10/2022 13:46

Chinese oil majors appear to be casting a fresh eye over Gulf Keystone Petroleum Ltd.'s (GKP.LN) flagship oil asset in Kurdistan, according to a copy of a report seen by Dow Jones Newswires

Experts from the China National Petroleum Corp. and China National Offshore Oil Corp. (0883.HK) have carried out a technical study of rock formations at Gulf Keystone's Shaikan field in the semi-autonomous region of Iraq, according to a report on the study.

Shaikan has been described as a "world-class oil field" with a current production capacity of 40,000 barrels of oil a day, though London-listed Gulf Keystone plans to increase this to 55,000 barrels in the next year or so and eventually to 110,000 barrels.

The report, based on a presentation made to an industry conference in Bahrain earlier this year, cites six authors from CNPC and CNOOC or research organizations attached to them.

The latter includes the Research Institute of Petroleum Exploration & Development, which is the research-and-development center of CNPC and PetroChina Co. (601857.SH).

The report says the carbonate reservoirs in the regional land basin housing Shaikan and about 29 other oil fields are "extremely rich in oil-and-gas resources."

The report also appears to question a threshold used in a previous assessment of reserves at Shaikan to determine the level of rock porosity at which oil recovery would be viable, saying it is too high.

A spokesman for Gulf Keystone declined to comment on the study and the Chinese authors didn't respond to an emailed request for comment.

The report is the latest indication of wider industry interest in the field, which London-listed Gulf Keystone discovered in 2009.

In December 2016, a Bloomberg report said that another Chinese oil major, Sinopec, had approached Gulf Keystone.

In July 2014, sector bankers and analysts reportedly said that Sinopec, CNPC and U.S. majors Exxon Mobil Corp. (XOM) and Chevron Corp. (CVX) had "shown interest" in Gulf Keystone.

And in December 2011, interest by Sinopec was reported and Gulf Keystone subsequently went with advisers to China in March 2012.

Meanwhile, Gulf Keystone said this week that it received a $21.2 million net monthly payment for oil from the Kurdistan Regional Government in September.

[bigdog5] 04/10/2022 13:42

Hey Mr Hills, with the recent announcements from the hosts/others mentioning the amounts of proven barrels of oil there are in Koruptistan "way less than 3b" doesn't that support my view of the samimack report being a pile of BS?

Care to comment?

[giant_canine] 04/10/2022 13:36

Chinese oil majors appear to be casting a fresh eye over Gulf Keystone Petroleum Ltd.'s (GKP.LN) flagship oil asset in Kurdistan, according to a copy of a report seen by Dow Jones Newswires

Experts from the China National Petroleum Corp. and China National Offshore Oil Corp. (0883.HK) have carried out a technical study of rock formations at Gulf Keystone's Shaikan field in the semi-autonomous region of Iraq, according to a report on the study.

Shaikan has been described as a "world-class oil field" with a current production capacity of 40,000 barrels of oil a day, though London-listed Gulf Keystone plans to increase this to 55,000 barrels in the next year or so and eventually to 110,000 barrels.

The report, based on a presentation made to an industry conference in Bahrain earlier this year, cites six authors from CNPC and CNOOC or research organizations attached to them.

The latter includes the Research Institute of Petroleum Exploration & Development, which is the research-and-development center of CNPC and PetroChina Co. (601857.SH).

The report says the carbonate reservoirs in the regional land basin housing Shaikan and about 29 other oil fields are "extremely rich in oil-and-gas resources."

The report also appears to question a threshold used in a previous assessment of reserves at Shaikan to determine the level of rock porosity at which oil recovery would be viable, saying it is too high.

A spokesman for Gulf Keystone declined to comment on the study and the Chinese authors didn't respond to an emailed request for comment.

The report is the latest indication of wider industry interest in the field, which London-listed Gulf Keystone discovered in 2009.

In December 2016, a Bloomberg report said that another Chinese oil major, Sinopec, had approached Gulf Keystone.

In July 2014, sector bankers and analysts reportedly said that Sinopec, CNPC and U.S. majors Exxon Mobil Corp. (XOM) and Chevron Corp. (CVX) had "shown interest" in Gulf Keystone.

And in December 2011, interest by Sinopec was reported and Gulf Keystone subsequently went with advisers to China in March 2012.

Meanwhile, Gulf Keystone said this week that it received a $21.2 million net monthly payment for oil from the Kurdistan Regional Government in September.

[bigdog5] 04/10/2022 13:36

Mr Carroll over the past nine years of ramping your brand of BS have you managed to get anything correct?

[bigdog5] 04/10/2022 13:34

Mr Carroll, by continually posting up an article of almost six years ago and what is believed to be a hoax invented by a desperate investor is of any help?

[giant_canine] 04/10/2022 13:31

Ynakee condog putting a serious shift clearly.

[bigdog5] 04/10/2022 13:31

Mr Carroll, do you believe your nine-year campaign of BS trying to CON the unsuspecting has been a success?

[bigdog5] 04/10/2022 13:29

Mr Carroll, do you keep that sort of article in a "box" along with the famous "mull" ready to post up in moments of pure desperation?

If there wasn't a fake and engineered oil price by the producers, traders and transporters (the vested interest ones) the share price would be below £1.50 imo.

[bigdog5] 04/10/2022 13:18

But Bumkin there are a few of us that have been helping you delusional fantasists with the facts and reality. However, you chose to believe in Mr Carrolls 9 years of BS as that suits the belief in your investment.

You idiots just won't accept that the field is light years away from what it was massively exaggerated to be which is evidenced by all the failures both pre and post the great shareholder wipeout of 2016.

Wouldn't you have expected that if the Kozel numbers and data were true that someone would have bought the field years ago? Kozel paid himself and his mates on his belief that they would be pumping 150k by 2014. They only managed to reach 40k a day by December 2014 before production fell away and its only at 45k ish now.

Is that a field that is performing great? Only in rampers minds.

Happy to point out the reality.