Taken from another forum
Exxon woos GKP to gain Kurdish base
MARK LEFTLY SUNDAY 18 DECEMBER 2011
http://ind.pn/tiA0gE
US oil supermajor Exxon Mobil is understood to have sounded out London-listed Gulf Keystone Petroleum (GKP) over a possible deal that could value the Kurdistan-focused group at around £7bn.
GKP has a market capitalisation of around £1.5bn and is listed on the junior Aim market, but its chief executive, Todd Kozel, believes the group could eventually go for double-figure billions. GKP is sitting on what is considered to be one of the world's great recent oil finds – Shaikan, about 50 miles north-west of Kurdistan's capital, Erbil – but the regional government is known to want a supermajor on board to properly fund and develop the field.
It is thought that the board would not accept the estimated £8-a-share that Exxon is considering and that a number of other companies, perhaps including China's Sinopec and Californian giant Chevron, are monitoring the situation. There is even some speculation that an informal four-way auction for GKP might be under way, while it is also believed that the company has spoken to at least two smaller businesses about potentially developing its assets in a joint venture.
US oil supermajor Exxon Mobil is understood to have sounded out London-listed Gulf Keystone Petroleum (GKP) over a possible deal that could value the Kurdistan-focused group at around £7bn.
GKP has a market capitalisation of around £1.5bn and is listed on the junior Aim market, but its chief executive, Todd Kozel, believes the group could eventually go for double-figure billions. GKP is sitting on what is considered to be one of the world's great recent oil finds – Shaikan, about 50 miles north-west of Kurdistan's capital, Erbil – but the regional government is known to want a supermajor on board to properly fund and develop the field.
It is thought that the board would not accept the estimated £8-a-share that Exxon is considering and that a number of other companies, perhaps including China's Sinopec and Californian giant Chevron, are monitoring the situation. There is even some speculation that an informal four-way auction for GKP might be under way, while it is also believed that the company has spoken to at least two smaller businesses about potentially developing its assets in a joint venture.
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Gulf Keystone Petroleum Limited (Gulf Keystone) is a holding company. Gulf Keystone is an independent oil and gas exploration and production company with operations in the Kurdistan Region of Iraq. The Company operates in three regional business units: Algeria, Kurdistan and the United Kingdom. The Algerian segment consists of the Algiers office and the Company’s operations in Algeria. The Kurdistan segment consists of the Shaikan, Akri-Bijeel, Sheikh Adi and Ber Bahr Blocks and the Erbil office, which provides support to the operations in Kurdistan. The United Kingdom segment provides geological, geophysical and engineering services to the Gulf Keystone Group. Gulf Keystone Petroleum International Limited (GKPI), a wholly owned subsidiary of the Company, holds Production Sharing Contracts (PSCs) for four exploration blocks, which include Shaikan, Sheikh Adi, Ber Bahr and Akri-Bijeel, with a total area under license of 1,624 square kilometers. more »
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December 26, 2011
Iraqi Kurdistan: KRG To Play Prominent Role
http://bit.ly/sbUvm2
Iraq — still a potential battlefield
By Tanvir Ahmad Khan
Published: December 25, 2011
http://bit.ly/rxQGU4
"iraq oil"
http://reut.rs/t7Js4K
By Suadad al-Salhy
BAGHDAD | Mon Dec 26, 2011 9:19am IST
Gulf Keystone
BUY
‘It is better to be lucky than to be good,’ reflects John Gerstenlauer
http://bit.ly/vpeE8K
25 Dec 2011
More foreign companies flock to Kurdistan Region
http://bit.ly/vZ6w7Q
By STAFF of Iraq Oil Report
Published December 26, 2011
Missan to file suit against Oil Ministry
http://bit.ly/tuoxnv
RIGZONE
Oil Dispute Illustrates Risks of Work in Iraq Fields
http://bit.ly/sgFRzq
IEA expects Iraqi oil boom
Dec 27, 2011 at 1:05 AM WAT
http://bit.ly/tBAhbT
December 27, 2011 4:13 am
Iraq’s political rifts deepen
By Dan Morse in Baghdad
http://on.ft.com/uNsRuQ
Barzani confirmed legal hold Exxon Mobile "with the territory
26.12.2011
http://bit.ly/rT9d6i
Hard Questions, Tough Answers with Yossi Alpher -December 27, 2011
http://bit.ly/rRSRsu
Iraq government expects crude production to rise to 3.4 million barrels a day by the end of 2012
December 27
http://bit.ly/sdtreY
Another Great Year for ExxonMobil
By Dan Caplinger
updated 12/27/2011 4:57:24 AM ET
http://on.msnbc.com/uQzXwf
Ex-Oil Minister Outlines Promises, Pitfalls of Iraq's O&G Sector
by Pamela Ann Smith|Middle East|Monday, December 26, 2011
http://bit.ly/uhDSdu
I have a lot of faith in GKP but there are so many prices being quoted - £8.00 to £20.00 seem a bit OTT. The maths add up but like XCITE it seems there is more ramping than usual. It looks like the FLAVOUR OF THE MONTH scenario. I ememnber the same kind if stuff for RKH/DES and CHAR.
http://www.rudaw.net/english/kurds/4286.html
New interview with Barzani's Chief Of Staff today:
Rudaw: On your visit to the US, you met with ExxonMobil. Is it true that ExxonMobil has backed off of its oil deal with the Kurdistan Region?
Fuad Hussein: No, it hasn’t. On the contrary, they’re very happy about their contract with the Kurdistan Region and will continue their work here. Some Iraqi officials and some in the US as well tried to have the agreement revoked and pressured ExxonMobil for that reason. Our talks with the State Department and ExxonMobil’s officials convinced everyone that the deal was legal and constitutional and that it would be in the interest of Iraq and the Kurdistan Region. The Iraqi side failed in its attempts to revoke the deal and make Exxon Mobil back out of the contract.
Rudaw: During his visit to the US, Maliki said that he had spoken with ExxonMobil officials and that they had promised to revise the contract with the Kurdistan Region. Did that have any impact?
Fuad Hussein: As far as I know, while we were still in the US, Maliki discussed the ExxonMobil contract with American officials. He later told the media that he had discussed the issue with US officials, but he didn’t succeed in his efforts. In politics the outcome is what counts. So, ExxonMobil and several other major international oil companies will come to the Kurdistan Region.
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GKP Operational update.
http://www.moneyam.com/action/news/showArticle?id=4288310
All steam ahead imv. Doubt they'll last the year.
Crazy day today, touched 315p ended 270ish, roll on tomorrow...
surprised how little discussion given share price movement ths week
I don't know what's happened to the chat on this board .
But GKP are about to go through the roof . Price today £3.83p . Should go over £4 tomorrow monday 13th Feb 2012 . We are expecting drill results on Shakaran 4 & 5 & 6 , soon . An upgrade to Oil in place . Agreement of the Iraq parliament on Oil & Gas Law . And by July a take over at £8 upwards £12 , some say over £20+++ . I think about £12 and we all go away smiling .
On LSE chat site i suggested when we hit that Takeover , we form the GKP Millionaires Club and all meet up . cubasteve57 on twitter .
Cubasteve
There is plenty/adequate/too much (depending on your viewpoint) GKP chat/analysis on iii, ADVFN, LSE and even across on TMF so not much more to add here.
I am a happy shareholder and GKP currently absolutely dwarfs the rest of my portfolio (>60% as of last friday). I did have a fairly balanced portfolio a while back but then along came Genel/Hayward and the whole dynamic shifted. Been in GKP from 11p/12p days but have been adding over time as my confidence in GKP increased and additional drill results were made known. If they go for circa £10 I will be content but £15 is my "fair value" price which still leaves lots/some for next man. However if sold to Chineese company might expect to see £18 to £23 per share.
JPGH