By John Lee. Shares in Gulf Keystone Petroleum (GKP) closed 14 percent higher on Wednesday following the company's announcement that it is to reschedule its Interim Management Statement. The shares had been up as much as 30 percent in the afternoon, on expectations of positive news to follow. The company statement said: "As a result […]
By John Lee. Sharess in Gulf Keystone Petroleum surged as much as 10 percent by lunchtime on Wednesday, after teh company issued an update on the its operations at Shaikan, its key producing asset: The Company remains focused on achieving the target of 40,000 barrels of oil per day ("bopd") of production capacity from the […]
By John Lee. Gulf Keystone Petroleum confirmed on Thursday that the Company's operations in the Kurdistan Region of Iraq, including ongoing production and trucking operations at both Shaikan production facilities, remain safe and secure. While there is no immediate threat to any of the Company's operations in the region, the company continues to monitor the […]
By John Lee. Gulf Keystone Petroleum Limited has announced the appointment of Dr Joseph A. Stanislaw and Mr V Uthaya Kumar to the Board as Non-Executive Directors with immediate effect. Dr Joseph A. Stanislaw has spent the last three decades as a senior adviser within the energy industry. He was previously President and CEO of […]
Gulf Keystone Petroleum (GKP) has announced that Todd Kozel has decided to stand down from the Board of Directors of the Company and not to accept the previously announced role of Executive Director upon retiring as Chief Executive Officer. As such, Mr Kozel declined to seek re-election to the Board at the company's Annual General […]
By John Lee. Gulf Keystone Petroleum announced this morning that Non-Executive Director and Deputy Chairman Jeremy Asher and Non-Executive Director John Bell "have ceased to be Directors in accordance with the Company's bye-laws". The Company will restart its previously announced search process, with the assistance of Odgers Berndtson, for two new independent non-executive directors, and […]
By Ruth Lux, Managing Director of political risk consultancy Strategic Analysis. The security situation in Iraq has significantly declined over the last week. Mosul and Tikrit fell to the Islamic State of Iraq and the Levant (ISIS), an al-Qaeda off-shoot, and Tal Afar, in the Nineveh province, was seized on Monday. Additionally, Baquba, only 37 […]
By John Lee. Gulf Keystone Petroleum (GKP) has given an update on its production operations at Shaikan in Iraqi Kurdistan, its key producing asset. The company's shares closed up 1.9 percent on Friday. Production Development plans to increase Shaikan production capacity to 40,000 gross barrels of oil per day ("bopd") by year-end 2014 are on […]
By John Lee. Shares in Gulf Keystone Petroleum (GKP) closed 7 percent lower on Wednesday after the company warned of delays in receiving payments for exports. The full text of the interim management statement for the period from 1 January 2014 to today is shown below: Overview On 25 March 2014, Gulf Keystone's common shares […]
By John Lee. Gulf Keystone Petroleum (GKP) announced today that it has priced a debt offering of US$250 million. The privately placed debt securities, offered in accordance with Reg S/144A to institutional investors in Europe, the US and Asia, consists of three-year senior unsecured notes carrying a coupon of 13% per annum and freely tradeable […]
By John Lee. The Telegraph reports that an encouraging update on its fund-raising plans provided some much needed cheer for Gulf Keystone Petroleum (GKP) on the stock market. The Kurdistan-focused oil producer had slumped in recent weeks, amid speculation that the company’s key bond sale was running into trouble. The company announced last month that […]
Gulf Keystone has announced that it has mandated Deutsche Bank and Pareto Securities to arrange a series of fixed income investor meetings in the US, Europe and Asia commencing 20 March 2014. A debt offering of up to US$250 million in accordance with Reg S/144A is expected to follow, subject to market conditions. On 13 […]
