Tag Archives | GKP

GKP Up 5% on Kurdish Update

Gulf Keystone today provides an update on its ongoing exploration and appraisal programme in the Kurdistan Region of Iraq, which includes the Shaikan block, a major discovery with independently audited gross oil-in-place volumes of between 8 billion barrels to 13.4 billion barrels calculated on the P90 to P10 basis, with a mean value of 10.5 […]

GKP Shares Up 10% on Shaikan-4 Well Test

Shaikan-4 Well Test Achieves 24,000 bpd Gulf Keystone Petroleum (GKP) has completed the testing programme for the Shaikan-4 deep appraisal well, drilled 6 km to the west of the Shaikan-1 discovery well in the Kurdistan Region of Iraq. The extensive well testing programme commenced in December 2011 after Shaikan-4 had drilled to a total depth […]

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 Boss Pockets $20m

Todd Kozel (pictured), CEO of Iraq-focused oil explorer Gulf Keystone Petroleum (GKP) will receive a $20 million pay package, making him one of the UK's highest paid executives. According to Reuters, his earnings doubled in 2011 to at least 12.8 million pounds ($20 million), 11 million of which is in share awards plus a cash […]

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 […]

Gulf Keystone Update - Shaikan-4 Results 'Excellent'

Gulf Keystone has just issued an update on its ongoing exploration and appraisal programme in the Kurdistan Region of Iraq, which includes the Shaikan block, a major discovery with independently audited gross oil-in-place volumes of between 8 billion barrels to 13.4 billion barrels calculated on the P90 to P10 basis, with a mean value of […]

HSBC Analysts Review Iraqi Oil Valuations

Analysts at HSBC have reviewed on Monday the prospects for companies operating in the Iraqi oil sector, and issued new price targets: Afren: reduces its discounted-cash-flow-(DCF)-based target price to 175p from 179p, and maintains an overweight rating; Dana Gas: maintains an overweight rating and a sum-of-the-parts-(SOTP)-based target of AED 0.64; Genel Energy: initiates coverage with […]

Gulf Keystone Shares Slump on Kurdistan Worries

More than £1 billion ($1.6 billion) was wiped off the value of Gulf Keystone Petroleum (GKP) during trading on Tuesday, as its share price fell by one third to 228.5p. Some of those losses have been recovered on Tuesday afternoon and Wednesday morning, with the shares currently changing hands at 275p. The falls were attrributed […]

Genel Won’t Buy Gulf Keystone or DNO at Current Prices

Tony Hayward, CEO of Genel Energy, said today that the company will not buy Gulf Keystone Petroleum or DNO International because the entry of ExxonMobil into the region has forced up prices, reports Bloomberg. “It’s too expensive for us ... What changed is Exxon coming in. We don’t need any more Kurdistan.” "We are not […]

Gulf Keystone Hits New Highs on Possible FTSE Entry

Shares in Kurdistan-focussed Gulf Keystone Petroleum (GKP) jumped more than 5% on the London market on Monday, achieving a new closing high of 432.66p, following an intra-day peak of just over 460p. A statement by the company confirmed its intention to move from the junior AIM market to a full listing on the London Stock […]

Seymour Pierce tips Kurdistan as Key Oil and Gas Region

Kurdistan, along with East Africa and the North Sea, has been identified by an analyst at brokerage Seymour Pierce as a key oil and gas region that is likely to see significant positive momentum this year. Dr Doug Youngson initiated coverage on eleven stocks and picked the three places as his ‘Top Regions’. In Kurdistan, […]