Gulf Keystone Petroleum Share Discussion Threads

[ptmorris1] 16/11/2022 11:14

What the hell did Blinkin think was going to happen? That the Iraqi's would come a running after killing 100's of thousands of them? It really does look like the days of the US hegemony are coming to an end.

[punter26] 16/11/2022 11:06

Iraq doubles down on energy deals with China, Russia
The Arab Weekly 16.11.2022

"So far, Iraq has shown no sign of reversing the extraordinary ‘oil-for-projects’ agreement it signed with China in the middle of 2019"...

...A phone call by US Secretary of State Antony Blinken to the new Iraqi Prime Minister Mohammed Shiaa al-Sudani apparently failed to resonate in Baghdad, with key deals long planned between Iraq and China and Russia going ahead, regardless of US wishes...

...So far, Iraq’s newly-appointed Oil Minister Hayyan Abdul Ghani has shown no signs of reversing the extraordinary ‘oil-for-projects’ agreement that was signed between Iraq and China in the middle of 2019.

This agreement, in particular, has opened the door for China to enter Iraq, which was the largest beneficiary last year of the Chinese Belt and Road Initiative, receiving $10.5 billion for infrastructure-related projects, including the construction of a power plant and an airport...

...Observers say that close relations between China and Iran have helped Beijing secure a foothold in Iraq because of the Iranian political and military influence on the ruling parties. It was also because of Tehran's desire to reduce the American military and economic influence in Iraq, where Tehran is pushing for reliance on Russian companies"...

[habshan] 16/11/2022 10:43

Howard - "So I have a question… once the money Pool for past expenditures runs out, CRP I seem to tember it being called?(obviously it won’t be soon if the fdp is sanctioned). How much will gkp receive for their monthly output if we continue as is or if we get to the fabled 55k?"

That's a question that has been at the back of my mind Howard and it's probably been at the back of everybody else's mind as well and I suspect that like me noboby knows the answer as there are so many variables and it's all tied up in the detail of the PSC with the R-factor oil price and so on.

There was a long winded discussion on LSE about it not long ago and the consensus seemed to be that the CRP would run out some time in the new year.

We were told in the FYR that at 31st December last year there was $401 million of unrecovered costs, we were then told in the HYR that at the 30th of June that had reduced to $260 million, a reduction of $141 million or an average of $23.5 million per month.

So at that rate the remaining $260 million would be repaid in 11 months which takes us to next May or thereabouts.

Clearly, as I say there are many variables and the repayment will have slowed down somewhat due to the oil price being lower than it was earlier in the year.

As you say the approval of the FDP would ramp up expenditure considerably and the cost pool would be replenished but until then there is clearly a lot of uncertainty surrounding it which may well be why the management tell us that they are reviewing the dividend policy:-

HYR - "With continued progress towards implementing the FDP, the Company expects to firm up the future estimated timing and levels of investment and review the dividend policy."

This isn't my field and I'm sure there are others on here who are better qualified to comment on this so it would be useful to hear from them, but it seems to me that as we're still doing a lot of work and incurring costs, with production currently being ramped up and if the FDP can be approved within the next 6 months then our current level of monthly payments and the dividends should be secure.

That's my tuppence worth anyway for what it's worth.

[johnbuysghost] 16/11/2022 09:46

Still huge demand for GKP shares ReleasetheKraken, even though it's a worthless basket case. ;)

[releasethekraken] 16/11/2022 09:44

124 k share buy just gone through

[petebreeze37] 16/11/2022 08:25

Damn, I missed the bottom

[releasethekraken] 16/11/2022 07:47

New owners will (have) negotiated FWD terms

[hydrocarbon1] 16/11/2022 04:37

API WEEKLY OIL REPORT
Latest Release
Nov 15, 2022
Actual
-5.835M
Forecast
-0.400M
Previous
5.618M

[howard smith] 16/11/2022 01:07

So I have a question... once the money Pool for past expenditures runs out, CRP I seem to tember it being called?(obviously it won't be soon if the fdp is sanctioned). How much will gkp receive for their monthly output if we continue as is or if we get to the fabled 55k?

[nestoframpers] 15/11/2022 21:08

Re Triassic production side track SH6 , cheap and cheerful.

[habshan] 15/11/2022 19:17

And if Sh-16 has been brought on line then the next well Sh-17 which is being drilled from the same pad should have been spud and that well should be on line before the FYR in March.

We also know that management want 2 drilling rigs working, what the plan for that 2nd rig is we haven't been told yet, but there's a lot going on.

12th July - "Iraq-focused oil firm to tender second drill rig. Gulf Keystone Petroleum is also extending the contract for the existing rig at Shaikan."

[nestoframpers] 15/11/2022 19:14

Thanks Hasbhan I get the wells mixed up.

[habshan] 15/11/2022 19:09

Nest - "I think. 55 K a day after Christmas with SH 15 on line."

Sh-15 was brought online in April at over 4kbpd.

MOL 3rd Quarter 2022 Results 4th November:- Year-on-year production increased based
on three additional wells SH-13, SH-14, and SH-15 on stream.

GKP 1st September HYR:- "After completion of the pad that will be used to drill both SH-16 and SH-N, we were pleased to spud SH-16 late August and are targeting production start-up of the well towards the end of the year into PF-2."

That well should have been drilled and be undergoing testing by now. I would expect the next update in December will be issued once it is online.

[nestoframpers] 15/11/2022 18:43

POO unimportant other than do we get divis or not , lifting costs so low for GKP $2.75 I think. 55 K a day after Christmas with SH 15 on line and the water facilities up and running. Choo Choo

[habshan] 15/11/2022 18:40

Bigdog - "Worldwide recession on the horizon. Another of my insightful predictions made many months ago about to be proved correct."

The last time you made an "insightful prediction" on the subject of recessions you said this Sarah:-

"The World is heading into a massive Recession and demand for oil may not return to pre virus days."

That was 2 years ago, your "massive recession" never happened and the oil price shot up from $10 to over $120 a barrel.

So if I were you Sarah I'd steer well clear of predicting recessions and leave it to OPEC to worry about maintaining the stability of the market and the oil price.

[nufc9] 15/11/2022 18:34

On Tuesday, the Iraqi President, Abdul Latif Rashid, met the Kurdish PM, Masrour Barzani, in Erbil.
The two sides discussed the ministerial program for the new Iraqi cabinet headed by Muhammad Shia Al-Sudani, and the work of the Baghdad and Erbil committees to resolve the outstanding issues.
President Rashid affirmed his "full support" for the dialogue to solve the outstanding problems and enhance the relationship and coordination between the federal government and the Kurdistan Regional Government under the constitution.
The Iraqi President also said he is "confident" in reaching results for all difficulties to achieve the "national interest."
Earlier today, Rashid, arrived in the Kurdistan Region to meet with Kurdish officials and participate in the Middle East Peace and Security (MEPS) Forum at the American University of Kurdistan (AUK.)
It is Rashid's first visit to Erbil since he assumed the position.
He held talks with President Nechirvan Barzani and the KDP leader Massoud Barzani and discussed regional and international issues.

[habshan] 15/11/2022 18:01

Bigdog - "The fake oil price looks to be in for a huge downward correction. A few months ago there were articles saying the OP would return to the 80's. However, the economists are now predicting a much deeper and longer recession so the OP could easily go sub 80."

Miles behind as usual Sarah.

In September the OP DID return to the 80s, to $82 per barrel in fact.

So on the 5th of October OPEC stepped in and cut production to return the OP to the 90s which is where it has remained.

Prince Abdulaziz bin Salman - "We are the Guardians of this industry."

So all is well.

Try to keep up ffs.

[bigdog5] 15/11/2022 17:46

Btw what happened to 1wavings waves? Was there a high tide and they washed away his predictions?

[bigdog5] 15/11/2022 17:41

Worldwide recession on the horizon. Another of my insightful predictions made many months ago about to be proved correct.

The fake oil price looks to be in for a huge downward correction. A few months ago there were articles saying the OP would return to the 80's. However, the economists are now predicting a much deeper and longer recession so the OP could easily go sub 80.

According to the thicky bricky (aka nestofBS) there is no global warming and fossil fuels have zero to do with it. So all the fires and flooding around the world are products of everyone's imaginations. Which of course explains where his vested interest lay and why several years ago he was running round a pub in London telling everyone how he was going to ramp this company to the high heavens. The share price has fallen from £4.60 down to 2p so we can all see how successful he's been.

So it's understandable why he's still forced to desperately post up the incorrect and outdated pictures and data from the Kozel regime that have clearly been proved wrong. I am of course referring to "3 shards high" and "overlays" on London which all the CPR's and recent results from the wells have completely destroyed.

Happy to help you delusional suckers as always. And all for free.

[ptmorris1] 15/11/2022 17:32

@Nesty, I recall watching an interview of Obarmarama from a number of years ago where he was salivating at how much the Europeans are charged for petrol and wishing that he could bring those prices over the Pond.
It was interesting viewing.

[sbb1x] 15/11/2022 16:41

Closed 200.50

[nestoframpers] 15/11/2022 16:06

'planet wide recession '

THAT HAS BEEN ENTIRELY MANUFACTURED BY THE NWO / GLOBALSITS

BTW some areas are not effected Borneo has growth I am sure there are others. Bidens plan I read is to make energy so expensive in Europe that manufacturers move to the USA , some special relationship ally hey! I have heard of several small businesses that have given up.

[habshan] 15/11/2022 14:43

Broadford - "Or, to put it another way, How Much Has It Cost Us To Get Here (CoToGeHe or CTGH)?"

Are you sure you don't mean how much has it cost the Kurds for us to get here Broadford.

They've been happily re-paying us for past expenditures every month with all of that money soon being fully recovered.

[habshan] 15/11/2022 14:32

Bigdog - "A very good article over in the usual place regarding oil demand destruction and the planet wide recession that I've been saying for many months is on its way."

You're getting excited again Sarah. A slight reduction in demand growth is not a reduction in demand let alone "demand destruction", demand is still forecast to keep growing by around 2 million bpd throughout this year and next. When you can't even get basics like that right is it any wonder that people don't take you seriously around here.

International Energy Agency two weeks ago - "Demand growth has been reduced to 1.9 mb/d in 2022 and to 1.7 mb/d next year. World oil demand is now forecast to average 101.3 mb/d in 2023.

OPEC yesterday - "Oil demand in 2022 will increase by 2.55 million bpd or 2.6% in Q4 22. Next year, OPEC expects oil demand to rise by 2.24 million bpd, OPEC said in a monthly report, down 100,000 bpd from the previous forecast."