Tag Archives | Excalibur

GKP Shares Up Following Update

By John Lee. Shares in Gulf Keystone Petroleum (GKP) were up 4 percent this morning after the company provided an operational and corporate update: Significant progress has been made since the Field Development Plan (“FDP”) for the Shaikan field was approved in June 2013. In July 2013 the Company commenced commercial production, marking Gulf Keystone’s […]

GKP Shares Up on Excalibur Statement

By John Lee. Gulf Keystone Petroleum (GKP) has issued a statement this morning confirming that Excalibur does not intend to appeal against the September court judgement, and has agreed to a payment of £17.5 million relating to costs. Shares in GKP were trading up 7 percent on Monday morning. The full text of the GKP […]

GKP Surges on Court Ruling

By John Lee. Shares in Gulf Keystone Petroleum surged more than 25 percent when trading re-commenced at lunchtime on Tuesday, following a court finding in the company’s favour. A summary of the English Commercial Court in London’s decision was given in court this morning following the trial of the claims asserted by Excalibur Ventures LLC […]

GKP to Suspend Shares Pending Verdict

Gulf Keystone Petroleum (GKP) has announced that the English Commercial Court in London has set the date and time for its decision in relation to the claims asserted by Excalibur Ventures LLC against the company, its two subsidiaries, and Texas Keystone as 10.30 a.m. on 10 September 2013. The Judge has indicated that he will […]

GKP Rises on Litigation Update

By John Lee. Shares in Gulf Keystone Petroleum (GKP) were up 3% on Monday morning on the London Stock Exchange following an update from the company on the progress of a litigation case: On 15 February 2013, the English Commercial Court [pictured] in London ordered Excalibur Ventures LLC (“Excalibur”) to make a payment of £4,700,000 […]

GKP Sued by Ex-Soldier over Iraq Oil Rights

By John Lee. Todd Kozel (pictured), Gulf Keystone‘s Executive Chairman and Chief Executive Officer, should not be considered a credible witness, a lawyer for Excalibur Ventures said at the opening day of a trial in London. Excalibur is suing the oil explorer for a 30 percent stake of the assets under a collaboration agreement, which according […]

GKP Update on Litigation with Excalibur

Gulf Keystone Petroleum (GKP) has issued the following update on the ongoing legal battle with Excalibur Ventures: Further to the decision of the English Commercial Court in London, as detailed in the Company’s announcement of 15 March 2012, a payment of £6,000,000 has been made into Court by Excalibur Ventures LLC (“Excalibur”) as security for […]

Gulf Keystone Petroleum (GKP) Litigation Update

Update from Gulf Keystone Petroleum (GKP) on litigation with Excalibur Ventures: On 14 March 2012, the English Commercial Court in London ordered Excalibur Ventures LLC (“Excalibur”) to make a payment of £6,000,000 into Court within 21 days as security for the costs of Gulf Keystone and two of its subsidiaries (the “Companies”) of defending the […]

CEO’s Stake in Gulf Keystone Questioned

Todd Kozel, the founder and chief executive officer of Iraq-focussed Gulf Keystone Petroleum Ltd. (GKP), said he may have to pay a $6 million fine to U.S. tax authorities because he didn’t declare overseas accounts and trusts. According to the report from Bloomberg, the penalty came to light when his attorneys listed it among his […]

Excalibur Sues Gulf Keystone

Excalibur is suing Gulf Keystone Petroleum (GKP) over Kurdistan’s 11-billion-barrel Shaikan oil field in a vigorously-contested lawsuit. The company had a “collaboration agreement” with Texas Keystone, a private company owned by GKP’s chairman Todd Kozel and his brothers, giving it 30pc of fields won in any joint bids. According to London’s Telegraph, Excalibur, which introduced […]

Gulf Keystone Litigation Update

Gulf Keystone has announced that Excalibur Ventures LLC confirmed in the English Commercial Court in London today that it no longer intends to pursue the International Chamber of Commerce Arbitration in New York (the “ICC Arbitration”) against Gulf Keystone and two of its subsidiaries. Excalibur also confirmed today that it is content that all its […]