Member Info for GarryGraham

Almost all of these Trinidad wells were abandoned or shut in or suspended as per today's RNS. What makes Eytan Uliel think he can do better and suddenly hit massive amounts of oil? Am I missing something? Secondly, the block five license we were recently awarded was heavily explored for oil by BP, who walked away. I have heard posters say it was due to the price of oil, but if there was an ocean full of oil under the seabed, they would have drilled. Is it me or is Etyan Uliel on a massive buy-up phase of buying up old abandoned licences and wells on the cheap? Could be another round of funding or dilution coming up folks. Im only 98.5% down now. GG

am i missing something here but in the rns statement today re the granting to ceg of the new trinidad license or proposed granting " the block contains approximately 65 historic wells, a few of which are active, but most of which are currently shut-in / suspended / abandoned. i feel the key words here are shut in, suspended and abandoned. similarly, the granting of the block 5 license in the urguguay off shore fields that no one was interested in bidding on. bp had carried out considerable seismic evaluations on and had abandoned the area. is eytan uliel just buying up abandoned old exploratory areas for next to nothing and hoping some **** sticks or looking to raise further funds with these new areas ? gg

I am a new investor who has put a good chunk of my change into ITV and considering more. I usually go for recovery stocks that is my thing and look for a return of 20% + after 12-24 months. What I would like to know is why the share price dipped to 52p in September 2022 and when are the next results out ? Thanks and all opinions appreciated. GLA.

GG.

Many thanks for all the responses. Could someone help me out here on timelines? I am guessing CEG will sit back and let the majors do most of the seismic evaluations, and then if successful, they will look at a farm out on block 1. When does this have to be done by? Are we talking 2 years, 5 years or in the next 12 months? I know Eytan Uliel has stated he wants to get a farm out by the end of the year but I cannot foresee any oil major wanting to enter into a farm out without the majors going ahead first or at the very least confirming a drill date after 3d seismic results ?

I don't know what to make of the block 3 Uruguay license awarded to CEG. None of the Oil majors wanted the license. I read that BP has analysed it previously are was not interested. Is it simply a punt from Eytan Uliel? I find it hard to believe that BP, with all its resources, would merely leave this block and abandon it if there was a chance of a significant oil find. I am interested in what other investors feel. Is this a case of Eytan getting too excited or a genuinely great piece of business? GG

Armasmaximillian : Today's climb makes zero sense in a rational world.

Agree. There are no rises in the share price of other oil producers in the same area affected by the ban and no reduction in the shortening of positions by ii.

Dumbfounded. GG

The GKP ( Gulfkeystone Oil ) is flying up, but this SP doesn't seem to be moving despite large director buys ? Totally perplexed at this. Can anyone give a suggestion? Its my understanding they are both operating in the same area which is currently suspended. If Im wrong I stand corrected. GG

Jedclampit: As bald Eagle says : You can trade shares , daily and at anytime. The big difference is you do not pay CGT with an Isa and are allowed a £20k maximum limit per tax year. Trust this helps. GG.

Umit Bilgrin hoovering up the shares here. Cant be just a coincidence.

Surely news soon. Any one any ideas ? GG

New to this company and interested to know how much liquidity the company has and what length of time do investors believe GENL can survive with the closure of the pipelines into Turkey. SP seems very much undervalued but guessing it is due to the closure. Equally interested in recent director buys. I also have GKP shares who are pretty much in the same boat. All opinions are appreciated. GG

Straycat : Many thanks to you for your honest comments much appreciated. I bought in and derisked yesterday by selling over half with a minimal loss. Suppose I can ask you a couple of questions. I have done my research on this but would like another point of view.

1. Regarding GKP's liquidity position, how long do you think the pipeline can be shut down to affect it seriously?

2. Do you see a correlation between Genel Energy plc and the recent director buys and GKP situation?

Appreciate your point of view. GG

Paul1828: No concerns over the pipeline shutdown or it causing a liquidity problem long term ?

Ive got a chunk of shares in GKP, sold some yesterday to derisk but undecided to buy back in ?

Thanks for any help : GG

Paul 1828: Interesting to see what is going on at Genel Energy and all the director buys. How do you know GKP is under a takeover offer?

@Gulf_Keystone directors can't ( as they are effectively under TAKEOVER offer )

as that would breach UK Takeover Code with which they abide.

Any help gratefully appreciated mate. GG

I think the Indian lawsuit is a huge issue and anyone who states differently I believe is naive. In relation to the jobcuts what is disappointing is the complete farce from the UK government in supporting RR in the Nucleur field. Regrettably, I think there is a good chance of a retrace on the SP. Plenty still to sort out by the maverick CEO who hasn't quite grasped the meaning of the word " Public Relations". GG

Willec- I can thoroughly see JB's point of view, but surprisingly, on my part, I believe you MAY have a case for the defence of Mr Uliel. The history of this company and the way they have treated their shareholders is shocking. The results speak for themselves. The exploration drill in the Bahamas was a calamity from start to finish. Whilst agreeing that Mr Uliel was not our CEO, he was one of the main protagonists in this farce that cost shareholders 99% of their investment into your beloved Challenger Energy. It is impossible to treat shareholders as bad, so the markets and private investors have little faith in this company hence the almost worthless share price. This is the case for the prosecution. The claim by the defence is that Challenger Energy just may have been the luckiest company ever to have purchased this license in the Uruguay block, and as they have had the first pick, the chances are that BLOCK 1 is going to be in with a strong chance of finding oil. I must say I think Eytan Uliel is more excited than Shell or Total, or any of the other majors involved. He knows he has to ramp this up like there is no tomorrow, as basically, it is his last throw of the dice. He may get a farm out, but there is no way he cannot proceed without one and then if he somehow manages to obtain a farm out the license is not as straightforward with the Uruguay government as it appears. We all know from bitter experience how difficult it can be to negotiate with governments with all the control they have. Finally and most importantly, we must still discover the oil's quality and quantity. When I watch the video presentations from Eyton Uliel, he is virtually making it a dead cert when we have not even done 3D seismic yet.

In summary, Willec has a case, but at present, it is a weak one and one where everything has to come into play for Challenger. For Shell, Total and all the other majors, I believe this is a punt, and if it works, then great, but they have the capital for it to be another duster. For Challenger, that is not an option. ITS STILL A MASSIVE LONGSHOT. All in my own opinion. GG

I’ve just invested a good chunk of change into Gulf Keystone and would be interested if fellow investors could enlighten me as to the following being new to this share. I’ve done my research on the fundamentals such as the accounts and liquidity and it appears to me it is simply a case of Turkey getting the pipelines open again. I would be interested to know the following.

1. Is it likely Erdogan will refuse to reopen the pipeline and what would be the cons in doing so ?

2. How long do fellow investors believe the liquidity position can remain tenable for GKP ?

3. What other options does GKP have in getting this oil to market without going through Turkey.

4. Is there a chance that the indefinite closure of the pipeline could result in bankruptcy.

I appreciate that some of these questions are looking into a crystal ball but all feedback is very much appreciated. It appears to me that the company was very profitable and paid an excellent dividend yield and had excellent liquidity until all this nonsense with Erdogan started but if someone contradicts this view point I am happy to accept. Thanks again: GG

Market Viking: I think there is a difference between buying junk AIM stocks in companies without assets or an actual trading service and buying an established business in the FTSE. Two examples would be that I invested in Rolls Royce, purchased it as a recovery stock, and made good money. It's a well-established, worldwide renowned engineering company. The other example is Velocys, who have capital expenditure and directors' salaries way out of line, a pathetic turnover and no commercial acumen whatsoever. Regrettably, I have a small investment in this company, but I would have spent my ten grand on a decent holiday rather than let Henrik Woreborn spunk it up the wall as he appears to have done. All in my own opinion. Do your research. GG.

I watched the presentation on LSE, and Eytan does come across as creditable. Credit him and his team for obtaining a break even on Trinidad and reducing Capital expenditure. I think Potter and Koot were and are oil mercenaries. And to some extent, Uliel was their protege, but he has realised that flitting from oil company to oil company doing nothing is not a career path, and Eytan appears to have nailed down the finances and states we are no longer in debt. It seems that, at present, we are treading water at best, the company has been massively scaled down, and expenses are in line with income. He adds that the share price is very much undervalued. I may suggest that it is on two conditions, namely - 1. A farm out with a major is agreed upon that substantially benefits the company if a significant oil discovery is found within Block 1 of the Uruguary project. We don't end up with a tiny slice of the cake or sell the company, which does not benefit investors. 2. If a farm out is not agreed upon and we have to await results from oil majors in the other blocks, those results are successful. 3. If we can obtain a farm out and eventually drill with another major, a successful discovery is found, which equals one to two million barrels of oil, as is his forecast. If all of these objectives can be made, I would agree the share price is very much undervalued. If they weren't met, I would argue that the current share price is a true reflection of the company, and the company may well go into administration in the next three years. All in my own opinion: GG

convb: "aim is just junk, and these idiots are incompetent fools".

agree with this statement. the level of incompetence in some aml companies is baffling; either they are "lifestyle" companies or should not be allowed to run a publicly listed company in which members of the public can lose all their hard-earned savings. our board of directors are extremely highly educated, and god knows we have enough of them, but that does not necessarily mean they can drive a groundbreaking product forward to market and make it successful. maybe velocys must eliminate all the chartered accountants and strategists from the board and secure a few hard-edged tough deal makers who take no **** and will drive this company forward; otherwise, we will run out of cash. all in my own opinion ; gg

Market Viking.

As an investor, I hope Velocys Plc makes a lot of money. Still, it employs five chartered accountants, a commercial lawyer, and nine other senior board members on a turnover of £200k. I am not surprised they are making record losses. I would have recommended four commercial directors driving the company forward, obtaining new contacts and tying up new partnerships with airlines and power companies, and one chartered accountant/CFO, who I am pretty confident having working in finance, are more than capable of getting these accounts out over their cornflakes. It seems the company is paying hefty company director salaries, but when its investors' monies are funding everything, what is £255,000 per annum for a strategist, as we appear to be overloaded with them as well? GG.