Member Info for highlander1970

Why are you posting this cack?

Wiseman,

the last presentation states 80% working interest as if it is a done deal already so fingers crossed

https://www.gulfkeystone.com/media/119580/gulf-keystone-petroleum-pareto-12-sept-18.pdf
page 3

on the same page they are playing down the net reserves (leaving it as the 58%)
Given the 80% number, that would give GKP Net 466M of 2p reserves (I took off 26M for 2017 and 2018 production) and 192M of 2C resources

copy of it from earlier, obviously the deramping crew are hard at it as usual

What actually has happened to GKP?

Gulf found a huge land based resource. Argue amongst yourselves quite how big , no matter its massive.A variety of tactics were used to try and circumvent the company's grip on the asset.Directors musical chairs , share manipulation , false court claim, and ultimately the company was completely doomed as a hostile acquirer had gained almost enough stock to vote out the board, and vote through an asset sale of Shaikan to themselves,paying off guaranteed debt holders , but leaving equity and convertible bond holders with nothing.The balance sheet restructure was the only way the company could survive.It had two main functions:
1. Destroy the hostile holding to prevent Shaikan being stolen.
2. Protect the company ( that meant putting over 50% of the shares into hands that were going to hang on) whilst a true auction of the asset , and sale diligence studies , and contracts were completed.Those processes are complete ( see CNPC subsidiary studies ) and he company will announce sale soon.We may see the PSC etc before but I rather doubt that as the MNR probably do not want these details in the public domain.So I anticipate a sale announcement as the PSC negotiations obviously long finished or the company would not , indeed could not have submitted a new FDP that their partner MOL refer in NOv presentation,without PSC term certainty.The who the buyer is looks clear to be CNPC/CNOC/Sinopes one or all.Chinese government agents all.How much? Order of magnitude north of the market share price for sure.xxx

So sorry to see this scenario here. I sincerely hope it works out for all here. All the best. H

If it is not reported by rns then I for one will report to fca. I have had enough of this bod

Plenty shares to offload, they will be forward selling the placing

you'll be waiting a while for that incompetent twit to achieve anything other than lining his and CC's pocket while raiding shareholders pockets.
As I predicted before, he has walked away from the SR which never existed (it was a ruse to buy him time after the dilution was refused at the AGM) and he has managed to get turkeys to vote for Xmas by getting the dilution vote done (and got free reign to dilute ad infinitum - well done idiots!).
He is now setting the stage for the dilution.

My next prediction, all 340 million shares will be issued to "cover legal expenses and for ongoing company costs" and very shortly after will be more diltion to "provide a robust legal case"

Might not be exactly those words but I doubt it will be far off.

that's nothing compared to what the ferret will award himself for doing nothing

looks like some of the ii's are shuffling around again, there's a lot of after hours trades reported on LSE last night
Funny how we never see and TR1's with all these trades

link to the slides

http://www.searchanddiscovery.com/documents/2018/42204lin/lin_slides.pdf

Shareholders should never have given permission to dilute at will as has been done. Results first, money later. What has happened since free reign has been given? NOTHING. But it was supposed to strengthen position and speed up a hefty takeover. Nah. Ch and Cc are going to have a merry Xmas at shareholders expense. The next we will hear will be some cry of how difficult something is and why they need some ridiculous amount of money after zero progress.

fair enough, I concede your point and apologise for that particular accusation.

Mikey

"Besides, in my opinion GKP are already producing at 40,000bpd and delivering PF-1 Production to PF-2. "

Completely unfounded

On page 7 as you have pointed to it clearly says "Gulf Keystone has initiated investments to increase gross production capacity to 55,000bopd during H2 2019"

They're not doing anything in 2018

Also, whilst we're discussing timeframes they never meet, shall we look at the ever spiralling cost that gets put towards these ghost operations?

In 2016 after Ferrier screwed over shareholders he stated the figures to get to the "near term" target of 55k bopd production was cumulative at approx $80m

Page 15
https://www.gulfkeystone.com/media/108729/gulf-keystone-petroleum-investor-presentation-nov-16-final.pdf

now it is
"Comprises of US$55-65m programme to return to 40,000 bopd and US$120-150m for the expansion to 55,000 bopd"

Page 7
https://www.gulfkeystone.com/media/119117/gkp-agm-presentation-13-july-2018.pdf.pdf

Where has the $100m extra come from? Who is the ferret bunging that to?

Oil price has increased but service companies are still on their knees and costs have not risen that much.

If they are spending shareholders money at the extortionate rate they seem to intend to then they need to be releasing operational updates, it is called fiduciary duty, not that they have ever bothered with that since joining.

Pray tell how they are going to be increasing production? They are not doing anything at the moment apart from continuing to bury their heads in the trough.

did anyone actually expect anything else from this bod?
They have their free hand to dilute shareholders at will...and they will, of that there is no doubt.
They don't need to issue any news now or do anything for shareholders.

Next step is to walk away from the hoax SR and then let the dilution flow.

Now that the bod have their yes vote, how long can they resist the lure of dilution? Don't you know they have Xmas shopping to do? CH has even stated that he wanted to have this facilty to be able to walk away from the hoax SR. IMO, dilution before end of the month an walk away from "SR" before Xmas and the the begging bowl will be passed around again with still no permits and many excuses for the abysmal performance of this complete sham of a bod.

The truth shows you up for the fantasist you are. If you actually think that this Bod only want the facility to raise then you are the dangerously deluded one. The very second they have permission to raise money, they wil,l and at a huge discount to where we are now. Colin alluded to getting bank finance previously which would have meant no dilution, he has obviously chosen not to go that route for whatever reason. He spouts whatever cack he thinks will persuade shareholders to fund his next round of failures. Not any more from this shareholder. Not until there are tangible results. He said/she said/imminently/hopefully does not wash any more. Provide results or get out, it's quite simple.

I believe Colin is doing a shit job and is only out to line his own pockets.
He has had enough money thrown at him with zero results, he's done a couple of workovers and diluted the shareholders into the ground by choice.
He has not been honest about operational activity and he does not posess a credible up to date CPR that adds value to the bottom line.
He is out of his depth and should not have been in that position, he's an accountant, nothing more.
Failure should not be rewarded.
Show some results before holding out the begging bowl again.

CH and CC will try and spin the blame onto the PI's and scare shareholders into voting for the resolutions so that he can line his and CC pockets for the failure he has presided over.

CH...look in the mirror before blaming anyone else!

* "compfartable" = comfortable (obviously)

didnt's realise fart would get through the antiswearymary filter though