Posts tagged 'gulf keystone petroleum'

GKP threatens to sue speculators (the bad kind)

“Live by the sword, die by the sword” does not translate into Kurdish, it seems.

Gulf Keystone Petroleum Ltd. (AIM: GKP) Read more

Just another weird statement from Gulf Keystone…

With the oil literally, reportedly, seeping out of the ground, and a Chinese takeover, reportedly, hint-edly, on the cards, we should note this very strange announcement from Gulf Keystone Petroleum on Monday…

Further to the Company’s announcement dated 22 March 2012, Gulf Keystone was notified by Mr Mehdi Varzi, a Non-Executive Director of the Company (“Mr Varzi”), on 23 March 2012 that on the same day he sold 257,347 common shares of USD 0.01 at an average price of £2.5417 per share. The Company was also informed that, following a request from Mr Ali Al-Qabandi, an Executive Director of the Company (“Mr Al-Qabandi”), the Trustee of the Company’s Employee Benefit Trust (“EBT”) agreed to release 1,000,000 common shares out of the EBT to Mr Al-Qabandi and to transfer the common shares at nil cost to his own account without any common shares being sold. Read more

Gulf Keystone board strikes gold

Funny company, GKP.

The latest executive remuneration scheme seems to have been fashioned so as to encourage takeover speculation amongst the hoards of retail investors who follow this Kurdistan oil play. Read more

GKP update

Gulf Keystone’s Shaikan prospect in Kurdistan just gets bigger and better, seemingly…

The first five tests have been conducted in the northern “footwall” – on the lower side of the inclined fault bounding the Shaikan structure. This is the first occurrence of flow from the footwall and proves an extension of the Triassic and Jurassic reservoirs outside the central part of the structure. The latest test (Test 6) is being conducted in the “hanging wall” (the upper side of the inclined fault) from a new reservoir in the uppermost Sargelu formation which had not been previously flow tested. The test is ongoing and rates in excess of 4,000 boepd have been recorded. Read more

Dead muppet bounce

H/T @real_taxloss

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Widows and orphans, meet GKP

Here’s another opportunity for the FSA to clarify its rules on premium listings in London for companies that are outside the full UK regulatory regime.

From the SindyRead more

Christmas cancelled for GKP investors

It’s taken more than a day and a half but Gulf Keystone Petroleum (GKP) has finally responded to speculation that Exxon Mobil was considering a £7bn, or 800p a share, cash offer.

And guess what, the Kurdish explorer is not in takeover talks but it remains committed to creating value for shareholders blah, blah, blah, blah…. Read more

Snap news

Breaking pre-market news on Monday,

-  Ocado warns on its measure of profits; sees full EBITDA between £27.5m to £28.5; analysts expecting £34.3m — statementRead more

Snap news

Breaking pre-market news on Tuesday,

- Olympus admits to covering up losses since 90′s — statement and statementRead more

Snap news

Breaking pre-market news on Monday,

- Polymetal sets price range for London IPO between 910 and 1035p per share — ReutersRead more

Snap news

Breaking pre-market news on Monday,

- Belgian and French finance ministers to discuss ways to shore up Dexia — reportRead more

Snap news

Breaking pre-market news on Tuesday,

- Bank of China halts FX swaps with European banks — reportRead more

Snap news

Breaking pre-market news on Monday,

- Lloyds Banking Group loses its finance director to Resolution — statement and statementRead more

Gulf Keystone plots $200m fund raising

Earlier this week Gulf Keystone Petroleum – the next super major oil company – spelled out its plans for the future.

The highlights were a move to the main market of the London stock exchange from Aim and a plan to develop a pipeline capable of carrying 440,000 barrels a day north from its Shaikan field to the Kirkuk-Ceyhan export pipeline. Read more

Snap news

Breaking pre-market news on Monday,

- BNP Paribas targeting additional $60bn reduction in US dollar funding by end 2012; to sell €70bn of RWA’s — presentationRead more

Markets Live – normal service resumes

Fully refreshed after a two-week break in the French sunshine, FT Alphaville’s fast-paced, interactive markets chat returns on Monday morning.

Under discussion today, the renewed market slide, the plight of the UK banks, eurozone stuff, a certain Kurdish oil explorer (that may or may not be up for sale) and the likelihood of QE2 in the UK after another worrying weak data releaseRead more

Transfer dealings – Gulf Keystone edition

This almost certainly does not pass the smell test.

One of Gulf Keystone Petroleum’s biggest shareholders (the confusingly named Gulf Keystone Petroleum Co. LLC) has transferred legal title over 5.25 per cent of the £1bn Kurdish exploration company (which discovered billions of barrels of oil) to among other people, its chief executive Todd Kozel. Read more

Snap news

Breaking pre-market news on Monday,

- Imperial Tobacco warns of £110m hit to profits from Spanish price war — statementRead more

Snap news

Breaking pre-market news on Tuesday,

- Punch Taverns to spin off managed pubs business, Spirit — statementRead more

Snap news

Breaking pre-market news on Friday,

- France’s Lactalis declares 11.4 per cent holding Parmalat; seeks boardroom representation — reportRead more

Gulf Keystone Productions

Surely there are better things for an oil explorer to spend money on?

 Read more

Snap news

Breaking pre-market news on Thursday,

- Nippon Steel Corp and Sumitomo Metal Industries to merge – reportRead more

The Kurdish cash guzzler

It’s an expensive business drilling for oil, particularly in Kurdistan.

Having raised $165m less than four months ago, Gulf Keystone Petroleum has tapped its shareholders for more cash – this time it  $170m at 140p a share. Read more

Snap news

Breaking pre-market news on Monday,

- Blue Asset Management recommends 485p a share cash offer from Royal Bank of Canada – statementRead more

Oil explorers pass round the hat (updated)

It’s all go in London’s small cap oil sector.

The talk in the market is that Gulf Keystone, the Kurdish explorer, is trying to raise $175m fund raising pitched at 140p a share. Mirabaud Securities is believed to handling the share placing. Read more

Snap news

Breaking pre-market news on Wednesday,

- Xstrata closes $4bn revolving credit facility — statementRead more

Snap news

Breaking pre-market news on Friday:

- Roche launches group-wide business review to “adapt cost structures and accelerate productivity improvements” – statementRead more

Snap news

Breaking pre-market news on Wednesday,

- Rok warns on profit after ‘serious failings’ in financial controls — statementRead more

Snap news

Breaking pre-market news on Monday,

- AstraZeneca strikes $198m deal on Seroquel liability claims — statementRead more

The world’s top 280 energy projects

Here’s an exhaustive view of the energy projects that are likely to change the world according to Goldman Sachs.

In fact, the bank says there are 280 such projects currently under development or in the process of exploration. And here’s how they’re positioned Read more