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Gulf Keystone Petroleum Share Chat (GKP)



Share Price: 92.75Bid: 92.50Ask: 93.25Change: 0.75 (+0.82%)Riser - Gulf Keystone
Spread: 0.75Spread as %: 0.81%Open: 93.00High: 94.00Low: 91.00Yesterday’s Close: 92.00


Share Discussion for Gulf Keystone (GKP)


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Andean
Posts: 686
Off Topic
Opinion:No Opinion
Price:101.25
Inscrutable
9 Apr '14
Mirabaud note courtesy of PFC

Gulf Keystone (GKP LN) has announced the pricing of its previously announced debt offering, the terms of which are in-line with market expectations. The company has raised the full US$250m (3 year maturity) at a coupon of 13% plus 40m of detachable warrants with a strike price of 102p/shr. Today’s news alleviates any residual concern in the market that the offer may not succeed and will dramatically improve the company’s liquidity position. GKP had previously stated that in a worst case scenario it would be in a US$20m cash deficit by the end of May increasing to US$103m by the end of Jan 2015. We expect the shares to build on the relief rally of the past few days.
 
Inscrutable
Posts: 7,098
Off Topic
Opinion:No Opinion
Price:101.25
Short but sweet
9 Apr '14
Wait till KRG say that..... And all sign something!!!!!
neon
Posts: 2,240
Answer
Opinion:No Opinion
Price:100.75
View Thread (3)
RE: Short but sweet
9 Apr '14
Fingers crossed! Today we've got the news on funding. And if Baghdad and Erbil agrees then surely we will fly!!!!

Excellent find Taxx!!!! :)
neon
Posts: 2,240
Off Topic
Opinion:No Opinion
Price:100.75
View Thread (3)
RE: Short but sweet
9 Apr '14
"Iraqi minister sees deal within days to resolve oil export dispute

Wed Apr 9, 2014 8:08am GMT

Print | Single Page

[-] Text [+]

ANKARA, April 9 (Reuters) - Iraqi Oil Minister Abdul Kareem Luaibi said on Wednesday he expected a deal to be reached within a few days to resolve an oil export dispute between the central government in Baghdad and Iraqi Kurdistan.

Speaking at an oil and gas conference in Ankara, Luaibi also said he expected oil flow in the Kirkuk-Ceyhan pipeline to resume within one week after it was halted at the beginning of March. (Reporting by Orhan Coskun; Writing by Daren Butler; Editing by Dasha Afanasieva)"
fourteenhundred
Posts: 3,696
Observation
Opinion:No Opinion
Price:100.75
View Thread (2)
RE: Pricing...
9 Apr '14
I am informed that the Us$250 has been completed. So will be very interested if the forthcoming RNS differs from the 7.59 this morning.
Andydiff
Posts: 2,050
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:100.75
dalesman Wednesday 9 April 2014
9 Apr '14
dalesman Wednesday 9 April 2014

Good - funding completed and with only $103m needed to service the worst case scenario this means that we are fully funded going forwards.

The 40m warrants when exercised will just about furnish the interest payments.

In the meantime there is £850 m to be recovered through cost oil, £5m outstanding from the court case. Payment for oil already shipped $20m , Backin rights outstanding and upgrades likely from Akri Bijeel, Sheik Adi and Shaikan 7.

Plus a VERY INTERESTING clause in the Bond issue states that on achieving a farmin greater than 40% the Bond can be re paid at a cost of 5% to the company.

I wonder why that is there! :0)

D

Tweeted By fishybits | Retweet
Mr Roper Wednesday 9 April 2014

Dales, surely 850m dollars not pounds? Yes? I though the number was nearer 600m dollars though...

Plenty farmers in Kurdistan, should be ripe for farmin'! (I'll get my coat..)

londonfinancial Wednesday 9 April 2014

Good point Dalesman , any idea who will be the lucky party ?

bobsidian Wednesday 9 April 2014

Katsy 9 Apr'14 - 09:45 - 351206 of 351210

"I have learned in 15 years of trading, is to accept the reaction rather than pretend it isn't happening."

My issue is not about accepting the reaction. It is more about the understanding applied by market forces to the CPR. Those who have followed the GKP story over the years understood that the CPR was ultra-conservative and covered a fraction of the resource.

It is not the first time that the share price of GKP has been taken down to an extreme low on a dubious interpretation only to stage a significant rebound thereafter. It would not be surprising to see history repeat itself in the months ahead.

"...but in the mean time just accept that there are issues and Mr market is concerned by these issues."

Mispricing is a feature of equity markets. And we can see this writ large across various sectors. As extreme as are the over-valuations in the current sector bull markets so seem to be the under-valuations in the current sector bear markets. And it is mispricing which presents opportunity.
http://uk.advfn.com/common/tweeted/bb/178178?xref=ADVFNPostTweet
Inscrutable
Posts: 7,098
Off Topic
Opinion:No Opinion
Price:102.00
Dodger.
9 Apr '14
I thought that too. These ain't been bought yet, or at least not announced as such. Maybe they will be by lunchtime!!
praty1
Posts: 40
Off Topic
Opinion:No Opinion
Price:102.00
hope
9 Apr '14
hope is all we have without any oil and gas laws!!!!
fourteenhundred
Posts: 3,696
Question
Opinion:No Opinion
Price:102.00
Question?
9 Apr '14
If you had the option (possibly we all have) would you sell your holding, whether in or out of paper profit, to buy the Bonds at par. For 13% over 3 years?
Taxx
Posts: 784
Observation
Opinion:No Opinion
Price:101.75
View Thread (3)
Short but sweet
9 Apr '14
http://af.reuters.com/article/commoditiesNews/idAFI7N0MO00320140409 My view remains that any solution now will be more on Bagdad's terms than the KRG weighted solutions we were speculating about on here a year or two ago.. Still, it would get us selling so would not need quite such strong binoculars to see profits as we do now... Hopefully before April 2017 or whenever the bonds being issued now mature... WTF knows what is going on behind this panto!



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