Gulf Keystone Irak-Ölperle Deutschland schläft (Seite 104)

[Coxos]

142 pence

irre oder
von 12-18 pence
auf 142 pence
das leben iss schön

[runn64]

Antwort auf Beitrag Nr.: 40.142.700 von Coxos am 13.09.10 17:30:12

Coxos,

halt schon mal die tanzenden bananen bereit
ich liebe tanzende bananen

[Grauewoelfe]

Antwort auf Beitrag Nr.: 40.140.115 von Coxos am 13.09.10 11:04:30

Das Potenzial ist gigantisch!

[Coxos]

das sieht sehr gut aus
schluss auf neuem ATH
http://bigcharts.marketwatch.com/charts/big.chart?symb=uk%3A…

[Coxos]

broker update

Gulf Keystone Petroleum Ltd GKP (FTSE AIM UK 50) Buy
Interim Results

Gulf Keystone reports a loss after tax of $3.1m and as of June 30 it had
$161.7m cash on hand

Operationally, post period end and after our field trip, the Shaikan-3
appraisal spudded on September 2nd. Its objective will be to test the
Cretaceous which was not adequately tested at Shaikan-1 because of fluid losses during drilling

The production facilities at the Shaikan site are undergoing commissioning.

Construction of the facility is on schedule to be completed in September.

Management expects that the extended well test on the Sargelu will occur in September with production being sold into the local market
3D seismic over Shaikan is 75% complete. It is expected that this seismic programme will be completed in October. Processing and evaluation of the data will occur into 2011

Preparation work has also begun at Sheikh Adi with drilling activities
beginning in August 2010

MOL is operating the Akri Bijeel block and we are awaiting the results of
testing which is currently underway

Genel is evaluating data from Ber Bahr and Gulf Keystone management is anticipating receipt of their drilling plans

We continue to be bullish on the stock. First oil will be welcomed as will
the revenue it brings, but in our opinion the main driver for the stock price will be proving the reserves across the four blocks. As we mentioned in our previous note, The Great Race, time is precious.

Updates from Akri Bijeel are taking longer than we had hoped for, though soon we should have the test results which would aid the resource theme. Additional volumes may be encountered by Shaikan-3 in the Cretaceous and confidence is high that it will.

However, resource figures will be significantly impacted by the discovery of the oil water contact point by Shaikan-2 which should be spudded late
October. If pressure gradient extrapolations for the oil water contact point are correct, then volumes across the four blocks could be in the 50bn – 60bn barrel range.

Of course we will need to know more about the Ber Bahr structure to better understand the volumetric potential. On this we are awaiting the drilling plans from Genel

[Coxos]

Gulf Keystone Petroleum: Interim Results for the six months ended 30 June 2010

HIGHLIGHTS
Financial Summary
· Loss after tax $3.1 million (1H09: $5.6 million)
· Loss per share $0.01 (1H09: $0.01)
· Cash of $161.7 million at 30 June 2010 (1H09: $16.7 million)
Operational Summary – First Half
Kurdistan
· Significant increase in gross oil in place numbers for the Shaikan discovery with a range of 1.9 (P90) to 7.4 (P10) billion barrels, following independent evaluation by Dynamic Global Advisers
· Oil discovery announced on Bijeel-1 with flow rates of up to 3,200 barrels of oil per day („bopd“)
· 3D seismic acquisition commenced on the Shaikan structure
· Additional testing of the Shaikan-1 Jurassic commenced on 12 July 2010:
- the Butmah section resulted in flow rates of 4,650 bopd
- the Mus section resulted in flow rates of 1,250 bopd – a ten fold increase over the 128 bopd measured during the initial test in 2009
- Sargelu completed for long term production test
· Sheikh Adi-1 exploration well spudded on 4 August 2010
· Shaikan-3 appraisal well spudded on 2 September 2010
· Production facilities undergoing commissioning
· Sidetrack of Bijeel-1 completed and testing underway
· 3D seismic acquisition on the Shaikan structure 74% complete

Todd Kozel, Executive Chairman & Chief Executive Officer of Gulf Keystone said:
„2010 has seen an unprecedented level of activity for Gulf Keystone. Our extensive drilling programme is aimed at proving up last year’s immense discovery, and we look forward to the first test production from Shaikan-1 in the coming weeks. Gulf Keystone’s outstanding progress could not have been achieved without the commitment of our staff, industry partners, the Kurdistan Regional Government and our shareholders, and I thank them all for their efforts and look forward to further success in the remainder of 2010.“

[Coxos]

Playing political waiting game in KRG
Bigger players set to move in if export issues are resolved

THE Shaikan discovery is certain to boost Gulf Keystone Petrol eum’s reputation, but the UK-based company may never claim its place among major oil producers in Iraqi Kurdistan.
NASSIR SHIRKHANI Erbil 10 September 2010 01:08 GMT
Predators are waiting in the wings and ready to pounce when the cloud of political uncertainty has dissipated and the Iraqi 
federal government and the Kurdistan Regional Government (KRG) agree to oil exports from the semi- autonomous region.

The deadlock over oil exports from Iraqi Kurdistan is keeping preying eyes at bay for now.

Bigger companies coveting the Shaikan riches have little to lose as they await results from 
Gulf Keystone’s appraisal drilling aimed at proving up more 
reserves.

Though there is a consensus among industry experts that Shaikan is the biggest find in Iraq in the past three decades, much more appraisal work is needed to provide a clearer picture of the find and the nature of the reservoir.

Gulf Keystone is just doing that, aiming to maximise shareholder value before any hostile approach emerges.

The company is drilling its first exploration well in the adjacent and equally promising Sheikh Adi block. It has a 51% stake in Shaikan and a 80% holding in Sheikh Adi. Both blocks are 
governed by 20-year production sharing contracts which may 
be automatically extended for a further five years.

Gulf Keystone also maintains minority stakes in nearby Ber Bahr and Akri Bijeel blocks 
operated by Turkey’s Genel and Hungary’s MOL, respectively. MOL has already made a discovery with its first well in Akri 
Bijeel, though the estimated reserves are not known yet.

Ber Bahr is also potentially very promising and could prove to be on a par with Shaikan, which has more than 4 billion barrels of oil in place.

Shaikan alone is expected to produce at a sustainable plateau of 350,000 barrels per day when fully developed.

“Shaikan is a giant field and potentially one of the world’s 
largest oil discoveries of the last decade,” says a study by analysts Wood Mackenzie.

“But there are a number of commercial challenges to its 
development. The key commercial issue concerns the misalignment between the KRG and the federal government with respect to oil policy and governance in Iraq.

“This is a complicated problem that has been the source of political discord for several years.”

Concerns highlighted by Wood Mackenzie include access to export pipelines administered by Baghdad, sanctity of contract and remuneration.

Wood Mackenzie estimates Shaikan’s recoverable reserves at about 1 billion barrels and forecasts peak production of 200,000 bpd from the field.

Fox-Davies Capital compares the potential size of Gulf Keystone’s reserves to that of the Kirkuk field.

“The upside potential is clearly huge and on par with the size of the Kirkuk field,” says CFA analyst Lionel Therond, who has visited Gulf Keystone’s operations.

“We found that the operations are making solid progress, despite some inevitable delays in such frontier environment, and are run in a very professional manner by very competent and experienced staff.”

Therond injects a note of caution because of high levels of potentially poisonous sulphur or hydrogen sulphide and carbon dioxide in the associated gas.

“The levels of hydrogen sulphide and carbon dioxide recorded in the gas encountered at Shaikan-1 are variable but around the 20% level each, making production of the lighter oil more challenging and increasing production costs,” he says.

Gulf Keystone chief operating officer John Gerstenlauer believes it is only a matter of time before a suitor emerges for his company.

“When the oil export situation here in Iraq is finally resolved, I would be very surprised if we don’t end up being a takeover target by a large number of companies,” he says.

The onus is therefore on proving up more reserves to drive a hard bargain.

“If we sold right now, it would be too cheap. Right now we are dealing with a range of oil-place of between 1.9 billion and 7.4 billion barrels.

“We think that range is going to get bigger and bigger as we drill more wells. We want to add as much value as we can before we can start talking about takeover,” Gerstenlauer says. “Right now 
we have enough money to 
pay for our work programme 
until at least this time next 
year. Beyond that we see how 
it goes.”

Gerstenlauer says Gulf Keystone is expected to produce between 20,000 bpd and 25,000 bpd in a year’s time.

“We are then close to self funding,” he says.

However, Gulf Keystone will need to raise more money next year to build a 40-kilometre trunkline to tie into the main Kirkuk-Ceyhan export pipeline and finance further appraisal drilling.

However, Gulf Keystone’s finance director Ewen Ainsworth says the company may use its early production as collateral to raise debt, thus avoiding value dilution through a rights issue.

He rules out sharing Gulf 
Keystone’s promising acreages with a bigger company for the time being. “If we were to get round to doing something like farm-out, it would be at a later stage when we have got more value on the table,” Ainsworth says.

[Coxos]

jetzt arte
das ölzeitalter

[Coxos]

Gulf Keystone is a likely takeover target, says Daniel Stewart
Tuesday, August 31, 2010 by Jamie Ashcroft


Daniel Stewart's oil & gas analyst Richard Nolan discussed GKP's "impressive assets" in a bullish report

Gulf Keystone Petroleum (LON:GKP) is likely to become a takeover target due to its “astonishing reserve potential”, according to research by Daniel Stewart’s oil and gas expert Richard Nolan.

Following an analyst field trip to the Kurdistan region of Northern Iraq, Nolan reflected on the company’s current resource base and its merits as a takeover candidate.

Nolan highlighted that the size of the Shaikan discovery (4.2 billion barrel mean resource) has been a ‘well known theme’ and ongoing drilling could expand the resource further.

The analyst emphasised that up-coming drilling could add 500 million barrels of oil, from two shallow zones.

According to Nolan the ‘mere addition’ of 500 million barrels - which would otherwise represent a significant find all by itself - shows the “sheer scale” of the Shaikan discovery.

Crucially, further drilling may provide a substantial increase to the Shaikan resource, to between 18bn and 20bn barrels - should the company determine an oil/water contact point at 2,230m - a level suggested by pressure data.

Nolan estimates that the Shaikan-2 well will target the oil-water contact point in Q1 2011, and provide more clarity on this aspect of the analyst’s investment thesis.

“A similar analysis across all of the blocks could see resources of 60bnbbl or more and with a recovery rate of about 30%.”

He added: “Gulf Keystone could be sitting on a giant on an equal footing to the Kirkuk field which has been producing for more than seventy years and still flows at 400,000 - 500,000b/d ... Any company with Gulf Keystone’s size of potential reserves will surely appear on the acquisition radar of many NOC’s and IOC’s."

That said, Nolan described the Gulf Keystone’s investment case as ‘a race against time’, with the analyst highlighting a need to accelerate drilling.

Nolan emphasised that major IOCs (International Oil Companies) and NOCs (National Oil Companies) have had reserve replacement issues for several years. According to Nolan, Gulf Keystone can maximise value by proving up resources on its other blocks, before it becomes a bid target.

“At present Gulf Keystone has good information on Shaikan. They could make a compelling argument to any prospective buyer to pay for those assets ... It would be a more difficult discussion for the other blocks”.

[If] Gulf Keystone becomes a target, then they should be doing as much as possible to prove their resources, especially drilling.”

The analyst believes it is “highly probable” that a new rig will be secured on a short-term contract to accelerate drilling. “To make up for lost time and to increase value, getting the rig now makes a lot of sense else Gulf Keystone runs the risk of leaving a lot of value on the table.”

[Coxos]

es liegen interessante wochen + monate vor all denen
die in gkp investiert sind
das wären
regierungsbildung
klärung der probleme bzgl psa erbil-bagdad
produktionsaufnahme sh1
endgültige bohrergebnisse ab1 well mitt/ende sept
zwischenberichte zu well sh 2
bohrstart sh3 und sh4
es gibt momentan keine story
die spannender ist
wieviel mrd ooip lagern in den 4 blöcken an den gkp psa hält
20, 30, 40 oder gar noch mehr