THE NEW GKP / Drilling for Super Giants (moderated) - GKP CNOOC US$3.25bn not enough shanghaijack - 22 Feb 2017 - 13:46: 26 - 534518 of 534589 THE NEW GKP / Drilling for Super Giants (moderated) - GKP Quote.
What I laugh at is that there are city employees on here trying to put off PI's from buying, when apparently it is PI's that the city needs to dump to. The city are quiet obviously holding for a takeover. Even Stevie Wonder can see that.
Correct in most
CNOOC using Addax not too takeover but merger deal.
Have been a holder of GKP for several years now, sadly not long enough to benefit from the rise to £4.50ish. I continue to hold and accumulate small amounts monthly with the intention of reducing my average. I am hopeful that GKP will eventually be sold at fair value.
When you compare the characters of Kozel and Ferrier it's certainly reflected in the share price. The city were determined to get rid of Kozel for lots of reasons and primarily so they could get control of GKP.
For all his excesses Kozel was a natural salesman whether we believe the CPR figures or not there is no doubt the share price would not be were it is now. Ferrier promised a lot but has failed on every account he has not communicated to the shareholders and purely played the role KRG have wanted him to do. Would the corrupt MP have been employed under Kozel watch?
I know who I would prefer at the helm right now, it's an disgrace the way this has been played. They were more interested in rushing through a VCP than communicating a clear roadmap to deliver on the potential Shaikan clearly as.
Let's just hope given the current ridiculous valuation the final obstacle is removed and a re-rate happens prior to any takeover.
Do your sell a favour pal.Regardless of what this company does in the future there is not a cat in hells chance any sane PI would touch this i hope the good guys who are left do get some return on their hard earned money.Then i hope the bods aeroplane crashes into med.Who says am not bitter.Lol
Gulf Keystone Views Future With Confidence, Shareholders Unconvinced
By Philip Waller
LONDON--Gulf Keystone Petroleum Ltd (GKP.LN) is regarding the future with confidence after its debt restructuring, though shareholders who lost most of their investment in the Middle East oil producer aren't convinced.
Gulf Keystone has pledged to focus on developing its giant oil field in Iraqi Kurdistan after last year's restructuring, in which it converted more than $500 million of debt into equity, leaving debt of $100 million.
The move handed about 85% of the company to creditors, leaving shareholders with about 5%, though the company also held a $25 million open offer for the rest of the equity.
The group's main asset, Shaikan, is an acknowledged world-class oil & gas field said to be as big as greater London and three times the height of the U.K. capital's tallest building, the Shard.
Chief executive Jón Ferrier cites an independent report that put the field's recoverable reserves during the period of Gulf's existing license at 622 million barrels.
Still, some shareholders who lost out in the restructuring fear the company isn't making the most of Shaikan's potential and its attractiveness to potential buyers.
They point to an independent assessment in 2012 that put total resources in the field at 13.7 billion barrels, though only about a third of that is thought to be recoverable.
"I don't think Ferrier is much of a salesman," one shareholder said on condition of anonymity.
Mr. Ferrier says he's trying to manage investor expectations about one of the most complex oil-fields in the world.
"I'd rather not hype these things - there's too much hype in this market," he told Dow Jones Newswires and the Wall Street Journal in an interview. "We're trying to deliver what we promise."
Takeover rumors about Gulf Keystone have swirled since at least 2011, when reports suggested the company attracted interest from U.S. major Exxon Mobil Corp. (XOM) and China.
The latest bid talk was in December 2016, when its shares rose following a media report that Chinese oil major China Petroleum & Chemical Corp., or Sinopec Ltd. (SNP), had made a takeover approach for the group.
In July, it rejected a takeover proposal from Norwegian oil group DNO ASA (DNO.OS), saying it needed to complete the debt restructuring.
U.S. rival Chevron Corp. (CVX) considered an approach in 2014, though it never materialized, according to industry sources with knowledge of the situation. Chevron didn't respond to a request for comment.
Meanwhile, Exxon sounded out Gulf Keystone over a possible deal in 2011 that would have valued it at about 7 billion pounds ($8.7 billion), according to a report at the time.
Mr. Ferrier has nothing to say about the claims, though he says he would put any "sensible offer" to the board.
I hadnt looked in today as it sickens me to see how this company has been trashed and mismanaged and we PI's have been smashed and ripped of. When did the Ferret last speak to the PI's ? Weak ineffectual ****** !
Past is done. Here and now all that matters Extremely attractive part developed resource Huge scope to cheaply expand Priced at a very large discount to industry Publically in play Hold if you have Buy more if you can
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.