15 September 2015 Gulf Keystone Petroleum Ltd. (LSE: GKP) ("Gulf Keystone" or "the Company")
Shaikan Operational and Payment Update
Gulf Keystone, the operator of the world class Shaikan field in the Kurdistan Region of Iraq, is pleased to announce that total commercial production from the Shaikan field has now surpassed 15 million barrels with the current daily average production in excess of 40,000 barrels of oil gross. In July 2015, at the request of the Kurdistan Regional Government's ("KRG") Ministry of Natural Resources ("MNR"), the Company commenced trucking Shaikan crude oil a distance of 120 km to Fyshkhabour on the Turkish border for injection into the export pipeline to Ceyhan in Turkey. In anticipation of regular payments for pipeline export sales announced by the KRG earlier this month and at the request of the MNR, the Company is in the process of transferring all crude oil deliveries to the export pipeline.
As of today, the Company's cash position is US$73.0 million, including the recent payment of US$15 million gross (US$12 million net to Gulf Keystone) now received for Shaikan crude oil exports.
'Cos it is: SP=Mkt Cap / No.Shares = £281m / 981m = 28.7p SP (ie Mkt Cap) will continue to oscillate around that price dependant upon - Player's Algorithms - Snippets of Good/Bad news (payments confirmed, production fluctuations, - Small ripples in Oil Price/Production - Gossip & Rumours What will Initiate a Quantum Change ? - Bidding (won't happen until PoO takes off significantly - or it would have by now) - A significant change in the CPR status - World events related to OPEC Members - Govt/Host Interventions - Increasing Production Significantly (we can't afford to - the 'Catch 22' scenario) Any other ideas on this guys?
Thanks KK, must admit the reading of charts is something I have yet to get to grips with. Had been planning to but finding the time, etc. Obviously a positive CPR could see us break 37p and then happy days ahead (I hope).
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