[Steve A]

Originally Posted by Nick999

Do you think it's worth investing in GKP, now they have dipped under 300p?

237.3 im fucking glad i got out when i did hope others havent been really bummed.

[doughboy]

214p now FFS!

Down 38% so far today!

[rogerxp]

Doh

[mowflow]

Squeaky bum moment. Looked at Shareprice at 4.33 and it had GKP at 56p. Must have been a glitch as the price suddenly jumped to 258.25p, my heart then stated again and breathing resumed.

Can only be that either the market knows something that we don't or this is the last almighty shake. I'm hoping it's the later. Either way my portfolio is a scary looking thing right now.

[JLR1969]

Bought in at £1.55 two years ago and I am not selling a single share until the end. It's days like today that separate those that run with the crowd and those that understand the fundamentals of GKP.

A few rumors and panic sets in amongst the PIs

As mentioned before there are lots of games etc with AIM and it's not a good idea to be all in and over exposed.

Steve I am glad you sold when you did as you did pile in quite heavily and looking at a loss for any amount of time is a real pisser.

On days like to day it's best to turn off the PC and not watch as the temptation to panic and sell is huge.

Always have a strategy and stick to it.

Personally my total portfolio dropped by £11k today but given the rises of GKP, OPHIR, IMT and PMO over the last 3 months I am not concerned.

I do prefer it when it goes up though.

GKP was always oversold at £3.50+ so expected it to drop. More games tomorrow so hold your nerve and stick to the plan.

GOOD LUCK ALL

[Reggie-g75]

http://www.iii.co.uk/articles/27217/...tone-petroleum

[mowflow]

That 56p actually happened and several stops were hit at that price. Imagine how those guys must be feeling.

My strategy is simple, DO NOT MAKE A LOSS. I won't be selling.

[335iLondon]

The highest traded stock on AIM by a long shot.
Never fear, the peaks and valleys are all part and parcel of this game.
Topped up at 260 today.

PS. Anyone looking for a more stable investment. Try Weir Group. Look good to me at the moment.

[335iLondon]

Originally Posted by mowflow

That 56p actually happened and several stops were hit at that price. Imagine how those guys must be feeling.

My strategy is simple, DO NOT MAKE A LOSS. I won't be selling.

It is just a mistake.
Those trades were redacted immediately afterwards.
Dont count on google finance for accuracy mate.

[Steve A]

Google reports the last trade of the day so all i can assume is that some one has put in a large buy order at 56p...

what gets me is the board of GKP can see this happening yet they have done nothing to stop it, possibly with a good RNS. if they really want to get on the FTSE then surely they must act, theyve lost nearly 50% of the valureof the company

[Steve A]

Looks like GKP are moving in the right direction for you guys today. good luck.

[JLR1969]

Originally Posted by Steve A

Looks like GKP are moving in the right direction for you guys today. good luck.

Made back £3.5k of the £11k I lost yesterday. I wonder how many people got stopped out or just sold and lost money.

Must be like taking candy of a baby to the MMs and professionals.

[335iLondon]

I cannot understand those who sold.
It is all adding up to be a good day tomorrow, by the lack of any information out their today.

PS. Have not put in another stake into GKP from this months pay just in case, went with Weir group.

PPS. Anyone got into the habit of checking RNS first thing at work!

[JLR1969]

Originally Posted by 335iLondon

I cannot understand those who sold.
It is all adding up to be a good day tomorrow, by the lack of any information out their today.

PS. Have not put in another stake into GKP from this months pay just in case, went with Weir group.

PPS. Anyone got into the habit of checking RNS first thing at work!

I signed up to www.investegate.co.uk and added a portfolio of shares I hold, as soon as an RNS is released its sent to my email address.

Every morning I check my emails with a little trepidation. Sad but I am hooked.

[mowflow]

I keep my portfolio page open on my phone. Refresh it just before leaving for work then usually do another just after the markets open as i'm always in the car stuck in traffic going nowhere at exactly the same spot around 8.30 every morning.

I also keep a browser window with shareprice open on my second monitor at work all day. Some might say it's an unhealthy obsession.

[JLR1969]

Apparently Exxon are staying in Kurdestan, did anyone really think they wouldnt!!!!!!

Anyway looking good for GKP.

Made back another £4k from the £11k hit, only another £3.5 to go.

[mowflow]

Didn't think they would go in without looking at all possible scenarios so didn't think they were going to leave. It was still enough to scare plenty of people out of their holdings.

A rosier picture all round for me today. XEL RNS on WONS approval (although the rig is still in Banff). I'm now in a slightly less scary area of loss

[prt71]

A nervy day or two, enjoyed it in a perverse way.....

[JLR1969]

Originally Posted by prt71

A nervy day or two, enjoyed it in a perverse way.....

A bit like optimistic excitement and anticipation of what's to come.

[335iLondon]

A very good read RE GKP
http://collinssarristatham.com/wp-co...ne-7-3-121.pdf

[JLR1969]

Originally Posted by 335iLondon

A very good read RE GKP
http://collinssarristatham.com/wp-co...ne-7-3-121.pdf

Nice find!

[JLR1969]

RNS Number : 1140Z
Gulf Keystone Petroleum Ltd.
12 March 2012
*

Not for release, publication or distribution in or into the United States or jurisdictions other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws of such jurisdiction.
*
*
12 March 2012
*
Gulf Keystone Petroleum Ltd. (AIM: GKP)
("Gulf Keystone" or "the Company")
*
Kurdistan Operational 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 billion barrels.

Shaikan-4 Appraisal Well
*
The well testing programme for the Shaikan-4 appraisal well, drilled 6 km to the west of the Shaikan-1 discovery well, remains ongoing, with six out of seven planned tests completed to date. Portions of major intervals, such as the Kurre Chine, Butmah, Mus, Alan and Sargelu formations will continue to be tested and so far aggregate flow rates in excess of 14,000 barrels of oil equivalent per day ("boepd") have been achieved. Portions of the well that appear to be high quality oil reservoir on the electric logs, and where proven commercial flow rates were achieved by testing previous wells, will not be tested.
*
The first five tests have been conducted in the northern "footwall" - on the lower side of the inclined fault bounding the Shaikan structure. This is the first occurrence of flow from the footwall and proves an extension of the Triassic and Jurassic reservoirs outside the central part of the structure. The latest test (Test 6) is being conducted in the "hanging wall" (the upper side of the inclined fault) from a new reservoir in the uppermost Sargelu formation which had not been previously flow tested. The test is ongoing and rates in excess of 4,000 boepd have been recorded.*
*
Shaikan-5 Appraisal Well
*
After drilling the Shaikan-5 appraisal well, 6 km to the north-east of the Shaikan-2 appraisal well, to the depth of 1,876 metres in the Jurassic, it became necessary to drill a sidetrack due to a portion of the drill string becoming stuck in the hole. The sidetrack operations were successfully performed at the depth of 1,370 metres, after which the Shaikan-5 drilling operations have resumed below 1,730 metres, to continue drilling to the estimated total depth ("TD") of 3,500 metres, subject to technical conditions.
*
Shaikan-6 Appraisal Well
*
The Shaikan-6 appraisal well, 9 km to the east of the Shaikan-2 appraisal well, is currently drilling a 12.25" hole at the depth of 2,058 metres in the Jurassic. The well will drill to the estimated TD of 3,800 metres subject to technical conditions.
*
Shaikan-7 Exploration Well
*
The tendering process has commenced for a rig to drill the Shaikan-7 exploration well, which will target the lower Triassic and the Permian, the deepest prospective undrilled horizons of the Shaikan structure.
*
Shaikan Extended Well Test
*
As part of the ongoing Extended Well Test ("EWT") on the Shaikan block, the output from the Shaikan-1 & 3 EWT facility reached 137,060 gross barrels of oil between 1 January and 6 March 2012.*Due to unprecedented cold weather and poor visibility, combined with work required to connect an additional 20,000 barrel storage tank, the average test production between 1 January and 25 February was 2,077 gross barrels of oil per day ("bopd"). Since 25 February test production has averaged 5,641 gross bopd.**
*
Shaikan Field Export Pipeline Project
*
On 6 March 2012, Gulf Keystone initiated a tendering process for the export pipeline site construction and installation for the Shaikan field export pipeline project.*
*
As part of the ongoing tendering process for the materials procurement for the Shaikan field export pipeline project, which was announced on 12 January 2012, bids are currently being received with the technical and commercial evaluation to follow.
Gulf Keystone is the Operator of the Shaikan block with a working interest of 75 per cent and is partnered with Kalegran Ltd. (a 100 per cent subsidiary of MOL Hungarian Oil and Gas Plc.) and Texas Keystone Inc., which have working interests of 20 per cent and 5 per cent respectively.

Akri-Bijeel Block: Aqra/ Bekhme Anticline Resources
*
Following the completion of the Bekhme-1 exploration well testing programme in December 2011, after the well reached TD at 5,000 metres in the Triassic, Gulf Keystone has received results of an independent evaluation of estimated petroleum resources for the Aqra/Bekhme anticline on the Akri-Bijeel block by Dynamic Global Advisors (DGA), independent Houston-based exploration consultants.
*
The DGA report, based on the Bekhme-1 wireline logging data and 2D seismic data, while recognizing the fact that no hydrocarbons had been produced to surface, has indicated a significant range of between 2.5 billion barrels and 5.4 billion barrels of gross oil-in-place volumes calculated on the P90 to P10 basis, with the mean resource estimate for the reservoirs in the Aqra/ Bekhme anticline of 3.9 billion barrels. While this range of resource estimate is significant, a considerable portion of the oil resource is likely to comprise heavy oil. Further evaluation would be required as to whether the oil is commercially recoverable.
*
DGA's previous assessments of assets on behalf of Gulf Keystone included independent evaluation of the Shaikan discovery, including two major upgrades of the gross oil-in-place volumes announced in April and November 2011, as well as a preliminary evaluation of the Sheikh Adi resources (1 billion barrels to 3 billion barrels calculated on the P90 to P10 basis) announced in August 2011.
*
Akri-Bijeel Block: Aqra-1 Appraisal Well
*
The first appraisal well to assess the Bijell discovery on the Akri-Bijeel block, is being drilled 8 km to the north-west of the Bijell‑1*discovery well and 26 km to the west-northwest of the Bekhme-1 exploration well. After reaching the depth of 989 metres, the Aqra-1 drilling operations have been temporarily halted in order to repair the rig following a lightning strike. Once the drilling operations have resumed, Aqra-1 will drill to an estimated TD of over 4,700 metres in the Triassic subject to technical conditions.
*
Gulf Keystone has a 20 per cent working interest in the Akri-Bijeel block, operated by Kalegran Ltd., a 100 per cent subsidiary of MOL Hungarian Oil and Gas Plc., which holds 80 per cent working interest in the block. The Operator's P50 resource estimate for the Bijell discovery is 2.4 billion barrels of oil-in-place, while the ongoing 2012/13 exploration and appraisal programme is targeting existing and identified hydrocarbon prospects in the Akri-Bijeel block.
*
Ber Bahr-1 Exploration Well
*
After the setting of 7" casing at the depth of 3,343 metres in the Triassic, the first exploration well on the Ber Bahr block is drilling at the depth of 3,347 metres.*
*
Gulf Keystone has a 40 per cent working interest in the Ber Bahr block, operated by Genel Energy, which holds a 40 per cent working interest in the block. The Kurdistan Regional Government has a 20 per cent carried interest in the Ber Bahr Production Sharing Contract.*The Operator's resource estimate for the Ber Bahr block is 1.5 billion barrels of oil equivalent-initially-in-place.
*
John Gerstenlauer, Gulf Keystone's Chief Operating Officer commented:
*
"We believe that these new results of the ongoing Shaikan-4 well testing programme are excellent, confirming our early understanding that this well may prove to be our best one to date in the Kurdistan Region of Iraq. We anticipate that future test production from Shaikan-4 will significantly increase our existing production level, which reached 6,970 gross barrels of oil per day on 4 March 2012. In parallel to the continuing increase in the test production of the Shaikan crude, our work on the Shaikan export pipeline project is progressing. In addition to a number of important operational developments on the Shaikan block, we are pleased to report on the progress in the Ber Bahr-1 exploration well drilling activities and to present results of an independent report by Dynamic Global Advisors on estimated resources for the Aqra/ Bekhme anticline on the Akri-Bijeel block. The substantial remaining potential of the Akri-Bijeel block is currently being targeted by the Operator's 2012/13 wide-ranging exploration, appraisal and early development programme."*
*
*
Enquiries:
*
Gulf Keystone Petroleum:
+44 (0) 20 7514 1400
Todd Kozel, Executive Chairman and
Chief Executive Officer

Ewen Ainsworth, Finance Director
*
Strand Hanson Limited
+44 (0)20 7409 3494
Simon Raggett / Rory Murphy / James Harris
*
Mirabaud Securities LLP
+44 (0)20* 7878 3362
Peter Krens
*
Pelham Bell Pottinger
+44 (0) 20 7861 3232
Mark Antelme

*
or visit: www.gulfkeystone.com
John Gerstenlauer, the Company's Chief Operating Officer, who has 33 years of relevant experience within the sector and meets the criteria of a qualified person under the AIM note for mining, oil and gas companies, has reviewed and approved the technical information contained in this announcement.* Mr. Gerstenlauer is a member of the Society of Petroleum Engineers.
*
Notes to Editors:
*
§ Gulf Keystone Petroleum Ltd. (AIM: GKP) is an independent oil and gas exploration and production company focused on exploration in the Kurdistan Region of Iraq.
§ Gulf Keystone Petroleum International (GKPI) holds Production Sharing Contracts for fourexploration blocks in Kurdistan, including the Shaikan block.
§ Shaikan is a major discovery with independently audited gross oil-in-place volumes of between 8 billion barrels to 13.4 billion barrels.
§ The Company's shares have traded on the AIM market of the London Stock Exchange since listing on 8th September 2004.
§ Gulf Keystone Petroleum Limited is registered in Hamilton, Bermuda with further offices in Erbil, Kurdistan (Iraq), Algiers, Algeria and London, UK.
§ Gross oil-in-place (or petroleum-initially-in-place) is that quantity of petroleum that is estimated, as of a given date, to be contained in known accumulations prior to production. The range of uncertainty of the oil-in-place (petroleum-initially-in-place) volumes is represented by a probability distribution with a low, mid and high provided: P90 represents at least a 90% probability (high) that the quantities determined to be in place will equal or exceed the low estimate; P50 represents at least a 50% probability (mid) that the quantities determined to be in place will equal or exceed the mid estimate; and P10 represents at least a 10% probability (low) that the quantities determined to be in place will equal or exceed the high estimate.
*
*
Not for release, publication or distribution, directly or indirectly, in or into the United States or jurisdictions other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws of such jurisdiction. This document (and the information contained herein) does not contain or constitute an offer of securities for sale, or solicitation of an offer to purchase securities, in the United States or jurisdictions other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws of such jurisdiction. The securities referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States unless the securities are registered under the Securities Act, or an exemption from the registration requirements of the Securities Act is available. No public offering of the securities will be made in the United States.

This information is provided by RNS
The company news service from the London Stock Exchange
*
END
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