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
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$250 million in accordance with Reg S/144A is expected to follow, subject to market conditions. On 13 […]
Gulf Keystone Petroleum (GKP) has this morning provided an Operational and Corporate update, and released a third party audit of the Company's reserves, contingent resources and prospective resources for its petroleum interests in the Kurdistan Region of Iraq. Summary The Company continues to maintain current stable production and sales levels of approximately 10,000 barrels of […]
By John Lee. Shares in Gulf Keystone Petroleum (GKP) were up 4 percent this morning after the company provided an operational and corporate update: Significant progress has been made since the Field Development Plan ("FDP") for the Shaikan field was approved in June 2013. In July 2013 the Company commenced commercial production, marking Gulf Keystone's […]
By John Lee. MOL Plc has informed the market that Kalegran Ltd. (a 100% subsidiary of MOL), as has officially declared the Akri Bijeel Block to be 'commercial', based on the discoveries made at the Bijell-1 well (pictured) in Jurassic horizons and Bakrman-1 well in Triassic horizon. Kalegran is the Operator of the Block on […]
By John Lee. Gulf Keystone Petroleum (GKP) announced today the launch of an offering of senior unsecured convertible bonds which will be issued in a principal amount of US$ 50 million. The New Bonds are to be issued on the same terms (save for the issue price) as, and shall be consolidated and form a […]
By John Lee. Shares in Gulf Keystone Petroleum (GKP) have fallen 6 percent on Thursday amid concerns about the scale of spending needed to develop the company's oilfields. Following the publication of its half-yearly report (shown in full below), Bloomberg quotes Charlie Sharp, an analyst at Canaccord Genuity Securities, as saying: "This marks the end […]
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 […]
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 […]
By John Lee. Gulf Keystone Petroleum (GKP) has announced the appointment of Andrew Henry Simon O.B.E. (pictured) to its Board as a Non-Executive Director with immediate effect. In addition, as approved by shareholders at the Company's Annual General Meeting, held on 25 July 2013, and following the completion of the AIM mandated due diligence process, […]
By John Lee. Shares in Gulf Keystone Petroleum (GKP) have gained around 10 percent this week on rumours of a takeover. Bloomberg reports that, as the world’s biggest oil companies look for untapped fields, the company is sitting on a giant oil field in Iraqi Kurdistan that wouldn’t look out of place in a major’s […]
Gulf Keystone has announced that further to the approval of the Field Development Plan for the Shaikan field, a world class commercial discovery, announced on 26 June 2013, the Company has commenced its development drilling programme with the spudding of Shaikan-10. In parallel, production operations from the newly commissioned Shaikan production facility ("PF-1") are scheduled […]
Gulf Keystone Petroleum has announced the appointment of Simon Murray C.B.E., aged 73, to the Board of Gulf Keystone as Independent Non-Executive Chairman and Senior Independent Director of the Company. Mr Murray will also be appointed Chairman of the Company's Remuneration Committee at its next meeting. This appointment represents a significant step forward for the […]
