Gulf Keystone Petroleum Share Discussion Threads

[nestoframpers] 20/1/2023 09:04

Half the cup is perfectly formed now time to start the incline up.

[releasethekraken] 20/1/2023 08:53

HTTPS://twitter.com/111notout1/status/1616357822228320258?s=61&t=WTDTJWgc7E2rFvO7MD3IXA

[johnbuysghost] 20/1/2023 08:47

Yeah highlander we've seen it for a decade or more. I just buy more and so do many others.

No ones getting any GKP shares in any real quantity now anyway as the float has dried up to a pathetic trickle.

No reason to sell is the reason why.

[highlander7] 20/1/2023 07:23

BD5 does this everytime good news is due either dividend payments or other Corporate stuff. He seems to think this complete c*ap he posts (that he,or more likely the organ grinder - makes up) will put off potential new GKP Investors.

These organ grinder monkeys have been doing it for years.

Comedy Gold ! LOL

H7

[johnbuysghost] 20/1/2023 06:11

Bigdog posts more than real shareholders.

And the grind continues.

[bigdog5] 20/1/2023 00:12

If anyone thought the field was good it would have been bought years ago. Apart from DNO who walked away after their second offer (which was cash and lower) no one has been at all interested.

That explains all.

The Eastern side of the field has several issues and is why they don't drill there. One of the clues being S6 the legendry Water well. Water was found at S12 at different levels. This was the well that was drilled to try and add Reserves from the lower targeted zone but they hit water much higher than was expected. And that's why they need to reduce their oil numbers.

It doesn't matter how its spun or any excuses made but only adding 3k from 7/8 new wells in eight years is why no one is interested, they can see all the problems that you suckers are in denial about. Then there's the massive costs coming down the line. And the gas flaring issue. And the water handling issue.

Do remember back to all the times RW was painting their wonderful scenarios and making excuses when they failed. Sarah habscum is just doing exactly the same with you suckers. Perhaps they're related. I'll remind you, RW got none of their views or predictions correct.

If they've taken 8 years to add 3k what chance do they have of reaching 75/85k a day!!! As for adding 10k from the Triassic when is that fantasy scheduled for, 2035? But they deserve some points for dangling the carrot to keep you suckers excited. They've watched how its been done in the past and what worked before .....LOL.

Under 2p again, looks like world class needs reclassifying along with imminent, LOL.

[nestoframpers] 19/1/2023 23:15

Not happy about GKP trying to reduce carbon footprint by 50% by 2025 , NWO BS getting everywhere.

The Climate Change Committee (an unelected Gov advisory all Greta types no realists) has proposed all homes for sale should attain an EPC rating of C from 2028 , no one voted for this BS.



If they reduce C02 by as much as they want the plants will not be so prolific , not good for the HR .

[nestoframpers] 19/1/2023 22:43

Well Habshan you have shredded the trolls again , just need the fire engine to hose down the road now.

[habshan] 19/1/2023 21:30

Bigdog - "Water has been found where they least expected it, they couldn't find the gas cap twice, they have expensive gas flaring issues, they need water handling equipment, pressure problems and they haven't been able to install all the ESP's they planned to."

"Water has been found where they least expected it." - No it hasn't, they've found trace quantities in one well, perfectly normal.

"They couldn't find the gas cap." - So what, they drilled to see if there was a gas cap there and if there wasn't the well was to be used as a producer and it's now a very productive well.

"They have expensive gas flaring issues." - Dealing with produced gas is perfectly normal in any oilfield. It's no more or less expensive than it is for any other oil company and we are well positioned to pay for it, it's been costed along with everything else in the FDP, so no problem.

"They need water handling equipment." - Crude oil contains water, every oil company needs water handling equipment. Many fields need to drill water disposal wells but that doesn't prevent them from producing the oil.

"Pressure problems." - What pressure problems?, why is pressure a problem, when you reduce the amount of oil in a reservoir by pumping out the oil the pressure will drop, it's basic physics, so you simply install pumps.

"They haven't been able to install all the ESP's they planned to." - Yes they have, and why wouldn't they. A year after they installed all the pumps you were still telling us that they hadn't, because you're a complete idiot who hasn't a clue what you're talking about.

You also demonstrated that you're a complete moron by saying that if they stopped flaring then the pressure would drop right across the field.

You're a clown Sarah.

[tankerted] 19/1/2023 21:07

Habs, great insight as always - thanks.

IMO HKN are flagging the situ for the other Kurdistan Oil Co's. Any sense they'll follow suit. I dealT with Iraq for many years for supermajor, always got paid, late - but paid. I think LG Christopher Clarke had it right, I'm sure like me you've read the court proceedings transcripts, 100's pages. Key to the whole situ IMO.

[hangthedj] 19/1/2023 20:49

Personally I'm not much interested in a takeover, just a gradual increase in production and proper payments for the oil produced to resume.

[eyesandears] 19/1/2023 20:45

Condog. If these are your views on the company, then please tell us why you are here? 30,000 posts. You must be a very bitter person. Or paid🤔

[bigdog5] 19/1/2023 20:21

I don't recall saying they won't survive. Its the hosts cashpoint. But there are numerous risks that the morons here just dismiss.

If a field is deemed to be any good it doesn't take thirteen years with any decision to buy it. The company have been talking about unlocking its value and its potential for thirteen years. The CPR's tell the story of that 13 years. Eight wells to reach 40k a day. Another 7/8 wells have added 3k. Water has been found where they least expected it, they couldn't find the gas cap twice, they have expensive gas flaring issues, they need water handling equipment, pressure problems and they haven't been able to install all the ESP's they planned to.

Any possible interested companies will have looked at the woeful progress since the shareholder wipeout and realised there are massive costly issues. Then additional to that are the Political and other risks. Its obvious (albeit the ramping morons are in denial) that wells are stealing oil from other wells. The fractures aren't being filled fast enough. So what could that mean going forward. More wells more flaring. Then there's the hosts altering the terms and bringing in the Kurdish blend price plan. They alter terms when it suits them. Then there's the delayed payments. Erbil and Baghdad issues, illegal PSC's, smuggled oil, the list of risks is endless.

The pandemic and fake oil price has camouflaged the failures which has allowed for divis. Otherwise the share price would be sub 1.5p. The hosts have always wanted consolidation and the very costly gas flaring issue could achieve their aim.

Just a mull?

[releasethekraken] 19/1/2023 20:05

Takeover is imminent

[releasethekraken] 19/1/2023 19:56

Not Sarah .....

[hangthedj] 19/1/2023 19:35

Bigdog, do you think there's any middle ground here?

One extreme is the rampant, way over optimistic takeover brigade and then there's posters like yourself who think everything negative and no way GKP will survive.

There must be a 90% fairly silent majority here who are sitting back and awaiting future development as a gradual progression and hopefully leading to a long term successful ongoing profitable business.

Basically not all sh1te and not all sugar, somewhere in the middle?

[releasethekraken] 19/1/2023 19:09

Thanks for that. Link is here:https://wp-gulfkeystone-2020.s3.eu-west-2.amazonaws.com/media/2023/01/Pareto-18th-EP-independents-conference-v2-16x9-screen.pdf

[releasethekraken] 19/1/2023 19:08

BIGDOG RE-ITERATES CONVICTION BUY:TAKEOVER ANNOUNCEMENT IMMINENT

[bigdog5] 19/1/2023 19:08

I note that Broadford has again popped in to kick habscum's excuses up in the air.

I have her on filter simply because I know what she posts are invented excuses and total BS.

So where is the FDP that highlander7 reckoned was agreed back in October 2021?

Where is the "agreed deal/hostile" that Carroll has been pushing for 9 years?

What about the easy cheap and fast 55k a day that your guru predicted after the wipeout and has been in the plans since 2014?

What about the oil law that h7 said a few weeks back was agreed? So why is it now being reported that's its slipped back 6 months?

All the evidence anyone needs to understand its you clueless desperate rampers that are inventing all the fantasy and lies in order to con the unsuspecting?

[habshan] 19/1/2023 18:44

hangthedj - "Habshan, thanks for pointing out that HKN are probably the most forthcoming in voicing their frustration on lack of or long delayed payments. Any thoughts on the new presentation on their website?
Mention of cutting back on future development spending."

10 years ago Todd Kozel was very keen to develop the field. He was always talking about 100k and more bpd production, absolutely nothing wrong with that, finding oil and then developing the field is what it's all about.

The problem was, he carried on drilling and developing by borrowing more and more money in the not unreasonable expectation that we would get paid for our production enabling him to service all that debt which in the end amounted to some $600 million.

He believed the KRG when they kept telling him that the cheque was in the post.

It wasn't, there were too many late payments.

That all resulted in the near liquidation of the company and the restructuring.

Kozel was ousted and replaced by Jon Ferrier who rightly determined not to go down that road again. After the restructuring in the summer of 2016 Ferrier resolved not to spend any more money until a reliable payment cycle had been established and the company had $200 million in the bank. In June 2018 he was happy and decided it was safe to start spending again and the programme to restart development began.

All of the IOCs suffered from unreliable payments in those days which is why they're all very sensitive to the timeliness of oil sales payments and keep healthy bank balances so that they can ride out periods of uncertainty such as we have at the moment and as I said HKN always include this statement in every communication to the market:-

"We continue to closely monitor the business environment, including timeliness of oil sales payments, and are prepared to look aggressively at Capex reductions if we lose confidence in collecting future payments. This approach could have a negative impact on future production but reflects our prioritization of capital preservation."

If the IOCs decide that they're not comfortable with the current situation then they'll stop spending because as HKN say, capital preservation has to be the priority.

GKP certainly seem relaxed about it as Jon Harris said yesterday:-

"Robust balance sheet , well positioned to manage recent KRG payment delays."

[busamitch] 19/1/2023 18:23

Thanks for that. Link is here:

[hangthedj] 19/1/2023 18:13

Just noticed new presentation on GKP website too.

"well managed to handle delays in payments"

All under control then obviously, in the meantime at least.