The shareholders are entitled to be told the characteristics of the Shaikan fracture system studies. After all, they have paid for them, and they were told years ago that over $1 million had already been spent on them.
These details cannot possibly be put on display for one buyer, for the following reasons:
#1. material information must be publicly disclosed
#2. it would disadvantage other potential buyers
#3. it would be impossible for the shareholders to know whether or not an offered or recommended price was fair and reasonable.
Longer term - I agree with most of what you say - but in the meantime it IS the oil price and it IS the issue of payment that determines the share price, hence you should save this stuff for when we get away from the danger zone in terms of share price. Otherwise you're going to be looking at the 30's scratching your head and getting even more frustrated than you obviously are, if things don't change rapidly, what you're talking about 'may' or 'may' not be revealed when the time is right.
I appreciate your obvious knowledge, sorry if I've ever offended you, it's only banter.
best left to the experts methinks....i'm sure all the technicals would be out on display for a future buyer..JG seems very confident.and in my view...won't leave any detail to chance..that will be our USP...when its prudent..all will be revealed..imo
The short-term oil price, and the issue of payment, do not determine the value of Gulf's assets.
What matters is the # of recoverable barrels, and their value to the company, under different production scenarios from initial primary production to ultimate Enhanced Oil Recovery approaches.
Shaikan contains a series of stacked, highly-fractured carbonate reservoirs in a fold-belt which is still active. The carbonate matrix (i.e. the deposited rock itself) in the Kurdistan Zagros is generally described as of low porosity and low permeability, with the overall quality of the reservoirs being determined by the fractures.
It is the uniformity of the fracture system, the extent of the fracturing, the average size of the fractures and how they are interconnected which are the factors in determining the value of *every* reservoir in Kurdistan. Together with the other classic petrophysical factors such as trapping mechanism, seal, enclosed rock volume, maturity of source rock, migration path, charge and absence of breach.
Attempting to value one's shares in Gulf Keystone is absolutely *impossible* without knowing - or at least, taking a best guess at - the characteristics of the fracture system at Shaikan.
And the fracture porosity percentage is the key metric.
It influences and determines just about everything.
And if the shareholders do not know what it is, they might perhaps do well to ponder the words of Lord Kelvin:
“When you can measure what you are speaking about, and express it in numbers, you know something about it, when you cannot express it in numbers, your knowledge is of a meager and unsatisfactory kind; it may be the beginning of knowledge, but you have scarely, in your thoughts advanced to the stage of science.”
Fifteen oil workers have gone missing after Islamic State insurgents seized a small crude oil station in Iraq's northern city of Kirkuk.
Officials from the North Oil Co fear the men may have been taken hostage by the extremists which took over the oil facility in Khabbaz.
"We received a call from one of the workers saying dozens of Daesh fighters were surrounding the facility and asking workers to leave the premises. We lost contact and now the workers might be taken hostage," a North Oil Co engineer told Reuters.
It comes as Islamic State launched an offensive against Kurdish forces southwest of Kirkuk on Friday, including a major oil production centre in Khabbaz.
Five members of the Kurdish Peshmerga were killed in clashes, while 46 more were wounded, according to AFP.
from discovering one of the largest onshore oil fileds in the last 20 years, winning court case, controlling ISIS, ramping up production to over 40000 bopd, getting a payment in December through to approved iraq budget.
Surely 2015 will be a good year for GKP...??? Looking forward to regular payments , increased production and, hopefully, the big boys coming in with offers (anything over £2 please)..
Have we gone through the worse....I really hope so. At 45p, this should be a great time to invest and hopefully some big investors will take a punt. Once payments star to come through and oil prices pick up, this should be a steal and so much upside. Just wish I got in now and not when I did. Good luck all long term holders.
to supplying the kurds with weapons Obama has to take the blame here he has to tell the iraqis to put up or shut up and supply the kurds independently or someone else will. we have to face facts the Iraqis cant run a **** up at a brewery. its strange how is are concentrating on the kurds again. I just dont trust the iraqis they hate the thought of a victorious Kurdish army. they say they dont have any money yet oil production in the south has been unaffected . Obama needs to do something here or i can see a catastrophe happeneing
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