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Gulf Keystone Petroleum Share Chat (GKP)

Share Price: 4.70Bid: 4.70Ask: 4.84Change: 0.00 (0.00%)No Movement on Gulf Keystone
Spread: 0.14Spread as %: 2.98%Open: 4.75High: 4.95Low: 4.55Yesterday’s Close: 4.70

Share Discussion for Gulf Keystone Petroleum

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Posts: 811
Off Topic
Opinion:No Opinion
RE: Shareholders Agreement
Today 17:05
BB, read with interest and maybe JF and Bod, should consider .TKI what is current position, and what is owed in oil payments this year still. TKI interests in some revolving door trust require lawyers who understadn what GKPI have or tried to do.
TKI interest under trust would come under Dodd Frank 1504

Also Iraq which inculdes Kurdistan is part of Extractive Industries Transparency Initiative (EITI)-compliant country
since 2012

The requirements of the EU Directives are implemented through the enacting legislation of each EU Member
State. The deadlines for implementing the EU Accounting Directive and the EU Transparency Directive are
July 20, 2015 and November 26, 2015 respectively. In general, non-EU EEA countries enact implementing
legislation after an EU Directive is adopted into the EEA by Joint Committee decision. The EEA Joint
Committee adopted the Accounting Directive on October 30, 2015 and the Transparency Directive is awaiting
decision (as of November [6], 2015). As of November [6], 2015, Austria, Croatia, the Czech Republic,
Denmark, Germany, Hungary, Italy, Lithuania, Portugal, Slovakia, Spain, and the United Kingdom have filed
notifications of full transposition of the Accounting Directive with the European Commission. Norway, a nonEU
member of the EEA, has adopted legislation that complies with both the Accounting and Transparency
Directives, effective for fiscal years beginning on or after January 1, 2014.

Each oil company is required to disclose exact amounts of oil produced, exact amount per barrel received .

SOMO is required to do so, so its hardly any wonder DANA had a field day with THE KDP MNR OF Kurdistan.

I note posters say write to the IMF, but would investors consider laying out complaints in detail, to include qestions onaccounting for oil since production, TKI interest, TKI loans, GKPI loans to TK or TKI, placings, failure to apply for arbitration, failed to obtain capital owed by accepting $100 million for an additional 5% of Shaikan, which destroyed the balance sheet further, bondholders called in when the BOD failed to act in shareholders interests by talking to bond holders, when they accepted the above $100 million.
Send the complaints to the SFO, FCA, Foriegn Office.
U.S. Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549-1090
TKI are a US Registered company, shareholders should be able to retrieve 5% TKI holds, as the current board are negligent
Posts: 263
Off Topic
Opinion:No Opinion
Today 15:50
Posts: 263
Off Topic
Opinion:No Opinion
Today 15:50
frenchboy24 11 Feb'10 - 22:18 363 40

Intraday chart. Click to open a chart window 6 Month chart. Click to open a chart window
Long Term Charts
2 Year chart. Click to open a chart window

Fundamental Data
Mkt.Sector SMEW Mkt.Segment SSMU
Turnover 58.48 Profit -91.14
Norm EPS -9.78 PE Ratio -
Market cap 45.97 NMS -
20/07/2016 07:00 UKREG Gulf Keystone Petroleum Ltd. Notice of Special General Meeting
19/07/2016 16:40 UKREG Gulf Keystone Petroleum Ltd. Second Price Monitoring Extn
19/07/2016 16:35 UKREG Gulf Keystone Petroleum Ltd. Price Monitoring Extension
14/07/2016 07:14 UKREG Gulf Keystone Petroleum Ltd. Appointment of Chairman
14/07/2016 07:00 UKREG Gulf Keystone Petroleum Ltd. Balance Sheet Restructuring Transaction
01/07/2016 17:08 UKREG Gulf Keystone Petroleum Ltd. Update on Stakeholder Discussions

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FTSE 250 Intraday

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johnbuysgkp 24 Jul'16 - 15:32 - 506635 of 506637 1 1

And even at 3p, the open offer of 0.8p is a bargain.

morfina 24 Jul'16 - 15:39 - 506636 of 506637 0 0

I assume that MNR are aiding GKP in this debacle by deliberately withholding funds. I don't think they will be able to keep the details secret for ever. IMO Morf

richie666 24 Jul'16 - 15:46 - 506637 of 506637 0 0 edit

Johnbuys - the problem for the ord equity buyers is that in order to qualify for the open offer you will need to be on the shareholder register at the record date. This is why the stock price has been relatively elevated the last wk - peeps know that the recapitalisation is artificially low in order to appease the bond holders (seniors). The only 2 ways to get the real cheapie stock at @0.8p is to own the ords or the convertibles.
So, if you bought 9 shares now at 5p say and you take up your open offer at 0.8p for 20 new shares then your average price is thus 2.1p. This gives an indication of what the post recap price is likely to be incidentally imo.
The alternate is to buy the CB's where you get @ 2.8m for every $200k nom which currently trade around 20c and so your equity IN price is @ 1.1p.

Anybody with pocket depth able to buy the CB's is frankly acting illogically and against their own commercial interests in buying the Ords and not the CB's if they see renewed value in GKP.
Posts: 56
Off Topic
Opinion:No Opinion
RE: Shareholders Agreement
Today 15:28
Well now that we have been mugged ...I guess that the IMF IRAQ Corporate Governance team would like to hear what's happening to companies like GKP.. This will help the KRG pledge for more funds and gain international recognition quicker and increase its capacity building by attracting more oil companies to come and also invest in infrastructure to help support its population...what goes round comes round ...I personally would no longer be reading the future sections on GKP Corporate Governance Report : the current one on Page 55 reads : One of the Board's primary responsibilities is to ensure that the Group is run in the long -term interests of our shareholders and wider stakeholders...what a waste of salaries being paid each month ...I hope shareholders are taking time to write to authorities ..thanks every body for sharing their knowledge ....This is the link to IMF IRAQ....I hope the corporate governance team of GKP write to them too....every little help counts!
Accountability :

IMF Integrity Hotline
Integrity Hotline
Talk with us on the IMF Integrity Hotline: 800 548 5384

Resident Representative for Iraq

Marwa Alnasaa

Resident Representative

Dr. N. Abu-Aishan Bld. Floor #2
1 Saeed Al Mofti St.
Swifiyah Amman 11185, Jordan

Tel: (962) 6-5861598
Fax: (962) 6-5861572
Posts: 710
Opinion:No Opinion
Oil & Gas 2016
Today 13:28
Proud Bronze sponsors of...

How much does this cost GK???
Posts: 3,630
Off Topic
Opinion:No Opinion
View Thread (2)
Today 13:25
i see your only contribution to this BB remains telling other posters you disagree with to not post.

while Helx has a turn of phrase i do not like - at least he posts opinion relevant to the facts as he sees them.

you however add nothing.
Posts: 200
Off Topic
Opinion:Strong Buy
RE: Bid
Today 13:11
Is that why there is still large buying here all week

Mms not letting it move up naturally
Posts: 288
Opinion:No Opinion
View Thread (6)
Shareholders Agreement
Today 12:48
If the proposed restructuring gets the go-ahead in Genf, non-bondholders may hold as little as 5% or as much as 14% of the issued shares.

In a worse case situation they will essentially have no voice in monitoring the affairs of the company and no say in disagreeing with decisions made (for myself I do not consider Capital as the effective conscience or voice of the smaller shareholders).

It's also to be expected that the new majority holders (as yet unknown) will purge the BOD and have their own people put in place - both main board directors, Chairman and as non-execs too.

In the interests of fairness, and in view of the proposed tremendous dilution of shareholder "voice" staring us in the face, it therefore seems to me that some form of Shareholders Agreement be agreed ASAP in order to protect minority shareholders from future abuse by a self-interested majority.
There is still time for a motivated CEO and his legal team to get this done, if not before the SGM then certainly before the AGM.

Considering the massive dilution and loss of voice I'm surprised that JF has not already proposed such a course of action.

I'm and engineer not a lawyer, and I do understand these agreements are generally more common and suited to smaller shareholders groupings and private companies, but I urge you to consider the idea and, if you consider it worthwhile, act on it in the way you best see fit.

For myself, I've written to several heavyweight newspapers about this.

Google "Minority Shareholdings and Shareholder Agreements" for a flavour of what's possible.
Posts: 657
Off Topic
Opinion:No Opinion
View Thread (2)
Today 12:39
Do be quiet you absolute cretin
Posts: 836
Off Topic
Opinion:No Opinion
Today 12:38
Mine has been been sent, hoping lots more of you do the same.

Topic.....Zahawi and Hawrami. connection ?

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