The latest Gulf Keystone Business News – Kurdistan, oil finds / discoveries, Sheikh Adi near Erbil, Shaikan, share price rise – brought to you by Iraq Business News
Shares in Gulf Keystone were up nearly 8% in early trading on the London Stock Exchange, following a Sunday Times newspaper report that it looking to sell itself for up to 1.4 billion pounds ($2.3 billion). The company issued the following statement on Monday morning, saying that press estimates significantly undervalued the company: Gulf Keystone notes […]
Gulf Keystone, the London Aim-listed, independent oil and gas exploration and production company with operations exclusively in the Kurdistan Region of Iraq, found its second massive oil discovery just days ago. The share price rose by more than a quarter on the news, and have now fallen back to +12%, putting them just over 120p. Gulf […]
Gulf Keystone announced today results of an independent preliminary evaluation of the Sheikh Adi resources by Dynamic Global Advisors (DGA), independent Houston-based exploration consultants. The DGA report, based on Sheikh Adi-1 wireline logging data, core samples, 2D and 3D seismic and regional data, has indicated a significant range of between 1 billion barrels and 3 […]
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 […]
Further to the announcement of 23 May 2011, Gulf Keystone has announced that currently the Company is in the commissioning phase of oil export operations from its Extended Well Test (EWT) facility close to Shaikan-1 and Shaikan-3. The commissioning phase, involving final preparations and customary checks and tests on all elements of the process, including […]
Gulf Keystone has announced that the Shaikan-4 Deep Appraisal Well has spudded on the Shaikan block in the Kurdistan Region of Iraq on Friday 27th May 2011. Shaikan-4 is the second deep appraisal well to be drilled on the company's significant oil discovery with gross oil-in-place volumes of between 4.9 billion barrels to 10.8 billion […]
CROSCO Integrated Drilling & Well Services Co., Ltd. is pleased to announce that wholly-owned subsidiary Rotary Drilling Company commenced with the provision of drilling services for Kalegran Limited, a wholly-owned subsidiary of MOL Hungarian Oil and Gas Company. Drilling services are being provided with Rotary 2000 HP drilling rig Rotary 67 (pictured). The Bekhme 1 […]
Gulf Keystone Petroleum (AIM: GKP), the oil and gas exploration and production company operating in the Kurdistan Region of Iraq, has announced its results for the year ended 31 December 2010. HIGHLIGHTS Financial Summary · Loss after tax $26.0 million (2009: $96.3 million) · Loss per share 4.17 cents (2009: 22.80 cents) · Cash, cash equivalents […]
Gulf Keystone has announced that the Bekhme-1 Exploration Well has spudded on the Akri-Bijeel block in the Kurdistan Region of Iraq on Monday, 21st March 2011. Bekhme-1 is the second exploration well to be drilled on the Akri-Bijeel block, 20 km to the north-east from the Bijell‑1 discovery well (Operator's P50 estimate of 2.4 billion barrels […]
Gulf Keystone has announced the results of the previously reported well test at the Shaikan-2 Appraisal Well drilled approximately nine km to the south-east of the Shaikan-1 discovery well. Shares in Gulf Keystone closed the day down 6% on Tuesday. Shaikan-2 has achieved short term, indicated rates of 10,144 barrels of oil per day (bopd) […]
[Update: Gulf Keystone closed the day up 31% at 161.75p] Shares in Gulf Keystone jumped 20% on Friday morning following the company's reporting of significant initial oil flow on the Shaikan-2 Appraisal Well in a 44 meter interval (1,792m to 1,836m) in the Jurassic age formation. Substantial smoke and/ or the oil flare is/ are […]
Gulf Keystone Petroleum (LSE: GKP) has announced an update on its Shaikan-3 Shallow Appraisal Well. Following completion as a Sargelu/Alan formation producer and as a result of an acid treatment, Shaikan-3 has achieved a rate of 9,800 bopd. The stabilized flow rate was recorded on a 128/64th inch choke with a flowing tubing pressure of […]
