Gulf Keystone Irak-Ölperle Deutschland schläft (Seite 34)

[Coxos]

aktuelle meldun g aus dem gerichtssaal
Simon Fisher ‏@simonfishybits 23s

Excalibur has NO claim to any part of GKP Yes!!!!!!!

[Jimmbo]

EXCALIBUR ist RAUSSSSSSSS))

[summer6]

So war jetzt nochmal für die Fangemeinde von unserem Teil....
Gruß
S6

[summer6]

Gulf Keystone shares to be suspended as court decides dispute
Mon, 09 September 2013
Article viewed 87 times


Gulf Keystone Petroleum’s shares will be suspended on September 10th while investors wait for an English court to pass judgment on a legal claim concerning its Iraqi oil fields.

The English Commercial Court will decide on claims brought by Excalibur Ventures against Gulf Keystone at 10:30 on September 10th. The judge will read his decision in open court.

Trading in Gulf Keystone shares on AIM will be suspended from 07:30 until the company publishes a Stock Exchange announcement with details of the decision, probably later that day.

The ruling will decide on a long-running dispute, worth up to $1.6bn (£1bn), between Gulf Keystone and Excalibur, ex-US Green Beret Rex Wempen’s company.

Wempen claims Gulf Keystone agreed in 2006 to give him 30% of any oil concessions it won in Iraq’s Kurdistan region. Gulf Keystone has argued that Wempen did not meet his obligation under the agreement to contribute to exploration costs.

[summer6]

Gulf Keystone Petroleum jumps ahead of key court judgement
Company to discover decision on Kurdistan oil field dispute on Tuesday
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Oil exploration group Gulf Keystone Petroleum will see its shares suspended on Tuesday ahead of a key court judgement, but investors are piling in ahead of the trading halt.

The company has been in dispute with US based Excalibur Ventures, which claims it has the right to 30% of Gulf's oil field in Iraqi Kurdistan.

The commercial court in London now plans to rule on the claim at 10.30 on Tuesday. Gulf said:

As the decision will be given in real time in open court and in order to maintain an orderly market in the company's shares, Gulf Keystone confirms that trading in its shares on AIM will be suspended from 7.30 a.m. on 10 September 2013 and this suspension will remain in place until such time as the company releases an RNS giving details of the decision, which is expected to be later the same day.
Gulf has been tipped as a takeover target for oil majors wanting to increase their presence in the semi-autonomous region of northern Iraq, and investors obviously feel that the court decision could finally pave the way for action. But analyst Jamal Orazbayeva at Westhouse said:

The market may perceive the conclusion of the case as a removal of an obstacle towards the sale of the company and thus, the resolution may have a positive impact on the day. However, we believe that it is the political uncertainty in Kurdistan rather than the litigation case that is the main obstacle for a potential takeout. We think that if the shares react positively on the news, it might be a good opportunity to exit.
Gulf shares are currently 2.5% higher at 188p, valuing the company at nearly £1.7bn.

[Jimmbo]

NEWS!

Morgen wird das Urteil verkündet. Der Handel wird mrg. ausgesetzt biss eine RNS verkündet wird. Court case decision findet real time statt.

[Coxos]

verhandlung etc alles bereits seit märz beendet
urteilsverkündung wurde nochmals verschoben
letzter stand:
1. oder 2. september woche
die 1. ist nun vorbei
=> innerhalb der nächsten 6 tage sollte dieses thema dann beendet sein

[Eulenfoerster]

Zitat von Coxos: bis 23. august oder am 23.
ansonsten top leistung vom managment
in 4,5 jahren von 1. bohrung auf 40.000 bopd

Hab jetzt diesbezüglich keine News gelesen.Dauert der Prozeß noch an ?

[summer6]

Thursday 25 July, 2013
Gulf Keystone Petrol
2013 AGM Results and Directorate Change
RNS Number : 1972K
Gulf Keystone Petroleum Ltd.
25 July 2013
 

Not for release, publication or distribution in or into the United States or jurisdictions other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws of such jurisdiction.
 
 
25 July 2013
 
 
 
Gulf Keystone Petroleum Ltd. (AIM: GKP)
("Gulf Keystone" or "the Company")
 
Results of 2013 Annual General Meeting and Directorate Change
 
 
The Board of Gulf Keystone, a leading independent E&P operator in the Kurdistan Region of Iraq, is pleased to announce that all the resolutions proposed at the Company's Annual General Meeting ("AGM") held today at 12pm in Bermuda, were duly passed by shareholders.
 
Resolutions 2.2 and 2.3, relating to the re-appointment of Messrs Mehdi Varzi and Ali Al-Qabandi as Directors of the Company, were withdrawn by the Chairman as they had advised the Company on 20 July 2013 that they had withdrawn their consent to be considered for re-election as directors of the Company. Accordingly, Mr Mehdi Varzi retired by rotation, in accordance with the Company's Bye-laws, with effect from the close of the AGM, after having served as a Non-Executive Director for over five years and Mr Ali al-Qabandi retired by rotation, in accordance with the Company's Bye-laws, with effect from the close of the AGM, after having served as a Director for six years.
 
Further to the passing of Resolutions 2.4, 2.5, 2.6 and 2.7, Messrs Jeremy Benjamin Gerald Asher, Thomas Counter Shull, John Bell and Philip Anthony Dimmock have been elected to the Board and will take up their positions as Non-Executive Directors of the Company once the AIM mandated due diligence process is complete within the next few weeks. A further announcement will be made at that time.
 
Further to the passing of Resolution 3, Mr Simon Murray has been re-appointed as Independent Non-Executive Chairman of the Company.
 
Commenting on today's announcement, Simon Murray, Independent Non-Executive Chairman, said:
 
"I am pleased to welcome our four new Non-Executive Directors to the Board, and look forward to their contribution as we progress our move to the Standard Segment of the Official List of the London Stock Exchange.
 
"The Company would like to thank Ali Al-Qabandi, the co-founder and, most recently, Business Development Director of Gulf Keystone, and Mehdi Varzi, a long-standing Non-Executive Director, for their invaluable guidance and significant contribution to finding, establishing and steering what is today a major oil & gas development in the Kurdistan Region of Iraq.
 
"The Company remains focused on creating further value for shareholders by continuing to develop our world class acreage in the Kurdistan Region of Iraq as we transition to becoming a significant oil producer in the region."

[summer6]

By By Mark Kleinman, City Editor
A former executive at BHP Billiton, the world's biggest mining group, is being lined up to help break the bitter impasse between Gulf Keystone Petroleum, the London-listed oil explorer, and some of its biggest shareholders.

Sky News understands that Philip Aiken, who left BHP in 2006 after nine years running its petroleum and energy businesses, is being courted by Gulf Keystone directors in a bid to fend off reforms proposed by two major institutional investors.

Mr Aiken, a respected boardroom figure who chairs Aveva Group, the engineering data company, and sits on the board of National Grid, is understood to have been offered a role as a non-executive director at the Kurdistan-focused oil company.

As a non-executive director of Kazakhmys, the Kazakh mining company, Mr Aiken is accustomed to working with companies which have had governance concerns raised against them by independent shareholders.

It is unclear whether Mr Aiken will agree to join the board of Gulf Keystone, which has also approached Andrew Simon, a director at Travis Perkins, the builders' merchant.

The approach to Mr Aiken comes amid a fractious battle in the Gulf Keystone boardroom, where M&G Investments and Capital Research Global Investors are attempting to install a quartet of new directors amid concerns about pay and governance at the company.

Talks between Gulf Keystone's new chairman, Simon Murray, and the investors are understood to have continued this week and there were signs on Wednesday evening that a compromise deal could be reached.

Under one scenario being discussed. Jeremy Asher, a former Gulf Keystone director who quit after relations became acrimonious with Todd Kozel, its chief executive, would rejoin the board, but M&G’s other three candidates would be withdrawn.

It is unclear, however, whether there is sufficient time ahead of this month's annual meeting for that to happen and whether M&G or Mr Kozel would accept such a deal.

Unless an agreement can be reached, some shareholders are leaning towards voting against Mr Murray, the former chairman of commodities trader Glencore, which would be unusual given that he was himself only appointed to the role at Gulf Keystone on July 4.

In a statement issued last weekend, M&G expressed its dismay at Gulf Keystone's handling of the situation.

"M&G is not seeking representation on the board of GKP, nor has any wish to interfere with its operations. But we do want the election of truly independent non-executive directors who will represent the interests of all shareholders.

"We are not asking for any special relationship with the four candidates: our aim is purely to strengthen corporate governance at GKP," the fund manager said in a statement.

The rebel shareholders are believed to be supported by a group of Malaysian investors and are confident that they will have sufficient backing to secure the election of their nominees.

Insiders said the shareholders were furious at a suggestion by Gulf Keystone that Mr Asher had been snubbed by the Kurdistan Regional Government.

Investors have long been unhappy with governance and pay at Gulf Keystone, which specialises in exploring for oil in Kurdistan but which has seen its share price fall sharply during the last year.

Mr Kozel has been a divisive figure at the helm of the company. People familiar with the situation said that his ex-wife, Ashley, was likely to use her roughly 17 million shares to vote against the company at the AGM.

Gulf Keystone is one of the most controversially-governed companies on London's junior AIM market and scrutiny by shareholders has been intensified by the apparent intention to move its listing to the main market.

Mr Kozel's £8.8m award for 2012 actually represented a sharp decline on his pay in the previous year, which topped $22.2m (£14.4m).

Mr Kozel has sought to defend his remuneration by arguing that Gulf Keystone has delivered more than £1bn of value to shareholders and a return of more than 4000% since the company's listing.

An ally of his said recently that the chairman's pay reflected an "overall balanced mix of remuneration and reflects exceptional performance for the year and confidence in future cash flows".

However, Gulf Keystone's shares have fallen sharply from highs triggered by takeover speculation, while it has also been embroiled in legal action brought by a former adviser which has claimed it is owed roughly £1bn in compensation.

Gulf Keystone declined to comment.

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