Blinding sandstorm hits Kuwait. Sandstorms have caused poor visibility all over the country where objects further away than few meters can't be seen clearly. Winds are up to 50 kilometers per hour, almost covering the state of Kuwait in sand. Chaos has been caused to the transportation system, and drivers have to travel very carefully to avoid accidents.
The weather is badly affected Kuwait international airport and no flights service operated after 6:00 pm today.
According to the local meteorological bureau, The visibility will decrease and may be nil in some areas next few hours due to dust storm with fresh north westerly wind exceeds 50 Km/H
EmailPrint.. AFP – A display at the Kuwait Oil and Gas Summit which opened.
A blinding dust storm has hit Kuwait, forcing … .– 58 mins ago
KUWAIT CITY (AFP) – A blinding dust storm hit Kuwait on Monday forcing a halt in oil exports which an official said would not affect commitments to clients, while air traffic was completely halted.
A spokesman for Kuwait National Petroleum Co (KNPC) said oil exports were stopped and would resume when weather conditions improve.
"We have stopped crude exports at terminals and also receiving vessels. This however will not impact commitments to clients," Mohammad al-Ajmi told AFP.
Winds of up to 45 kilometres an hour (28 mph) reduced visibility to less than 150 metres (yards) at Kuwait airport and much less in the open desert.
OPEC's fourth-largest producer pumps around 2.3 million barrels of crude oil daily through KNPC export facilities in oil-rich southern Kuwait.
Issam al-Zamel, head of operations at the civil aviation authority, told the official KUNA news agency that flights that were scheduled to land at Kuwait International Airport were being diverted to neighbouring Gulf countries.
Departing flights were halted until weather conditions improve, said Zamel.
Kuwait has had little rainfall for the fourth winter in a row, making the desert sand loose and easily carried aloft by strong winds.
Dust storms are rare in winter but common in summer when the temperatures hits 50 degrees Celsius (122 Fahrenheit).
====
Heaviest Dust Storm of the season has covered Kut skies and it has settled after sun set leading to shortage of oxygen and many facing breathing disorders in the entire city and its oil facilities. Any international Laws, regulations requires to stop work in bad weather affecting health of employees.
===
Subject Re: O/T Kuwait City View parent message
Votes for this Posting Voted UP 7 times.
Message
My wife lived in Kuwait for 14 years and her sister and husband lived there for longer, running a transport business, until all 67 artics were nicked by Saddam and duly blown up on the road to Baghdad by the Americans in the first Gulf War.
They all have very fond memories of Kuwait. My father in Law was in charge of loading tankers. His last task was to load one Torrey Canyon, he then bought a hotel in Carbis Bay Cornwall. The rest is history!
D
==
O/T Kuwait City
The Bwana
That old chestnut is not strictly true.
I agree that it's ridiculous to obsess over individual trades.
When a large trade is shifted on either side of the book, there are people on here who reckon - one way or the other - that 'someone knows something'. Essentially, that someone is insider trading.
It concerns me that there are many on here who don't understand the basic mechanics of the market, and it's not helpful when people post that 'every buy is a sell' or 'every sell is a buy' to back up their permanently-positive or permanently-negative point of view. It doesn't advance the collective knowledge of this board.
When you trade, you are usually striking a deal with a Market Maker.
If you're buying, they may not have the full amount of shares to sell - but they'll sell them to you anyway, and make up the deficit in subsequent trades.
If you're selling a large wedge, they probably don't have a buyer lined up for the full amount, but they'll buy them anyway, fixing the price in accordance with liquidity at the time.
So when someone buys, say, 152,000 shares, it DOESN'T mean that someone has just sold that exact amount. It means that the Market Makers have supplied that amount of shares for an agreed price...whether they've got them to hand or not.
For the benefit of newbies, here's something I originally posted last year:
'Brokerman Daniel' first appeared on the LSE GKP board in 2009 after Shaikan. He claimed to be 'in the know', though some of his 'inside information' was somewhat suspect (eg He claimed that representatives from ETAMIC were in the City negotiating GKP's admission to the FTSE; He insisted that the full DGA report was doing the rounds within the City even though those of us in direct contact with DGA were told that the report hadn't even been finished).
Re: Brokerman Dan update -tenty
GKP.L
17UP
One thing that BMD has never claimed is that he is 'close to GKP'.
And given some of his predicitions - who can forget the old chestnut about ETAMIC being in talks in the City about getting GKP listed on the FTSE? - he has given us ample evidence that he doesn't have the first clue about what's happening within the company.
Anyone who posts on a BB should expect to have their info tested. BMD didn't like debate, and developed grudges against anyone (mainly loyal GKP holders) who questioned him. Eventually, after several incarnations, he was permanently banned from LSE.
He then appeared here and resumed his role as the font of all wisdom, while also attacking all the loyal GKP holders he held grudges against. (eg In the days of red ticks, he went through my past posts and red ticked the lot of them. Classy. I wasn't the only one who was given that treatment.) After several incarnations, he was permanently banned from iii.
Someone on here suggested that he start a blog. He did, and continued his modus operandi, including using it as a platform to attack several loyal GKP holders. His predictions didn't get any better, but he had a vociferous band of followers who happily attacked BMD's perceived enemies (who were, let's not forget, mainly loyal GKP holders).
He announced that Optare were about to be taken over. The sp spiked immediately after his announcement. The rumour was garbage. People lost money.
He announced that TRP had struck oil; PIs piled in. The following day they declared a duster. People lost money.
And so on, and so on, and so on.
Could this happen to GKP?
GKP.L
11UP
Firstly, it HAS happened to GKP. There are still many of us here who were in around the 10p mark and have ridden the ride up to £2, and down, and up, and down...
The reason we're still here, and haven't cashed in our substantial profits, is that we believe that we're still in the foothills of the ascent.
But comparisons to SAR are spurious. I held SAR for a while, and I have no regrets about getting out (with a small profit 18 months ago). What have they found? Not oil.
Their value is based on trials of a treatment that may or may not eventually find a place in a crowded marketplace, and may or may not make money - though nobody can say how much, and any benefits will be diluted among 1.4 BILLION shares.
SAR remains a MASSIVE punt. And for every shareholder who rode the rise from 0.3p to 1.8p, there are also shareholders who bought when the sp peaked at 5p a few weeks ago. A bet they just LOVE the company.
14-03-11
Re: ShaMaran up 21%
GKP.L
16UP
Matty,
When you say we're 'oversold', that implies there was a genuine reason for the sell-off in the first place. There was no genuine reason.
The 'Middle-East Crisis' argument doesn't hold water because, if anything, threats to oil supplies ought to be good for us.
The 'Kurdish situation' doesn't hold water because HOIL and SEY have sailed through, despite being subject to the same supposed risks.
Since the stable 180s we've been subjected to a bear raid, pure and simple.
The pathetic (and illegal) attempts by derampers to start false rumours about Todd 'resigning', oil turning to gas, etc etc were all deliberate attempts to surpress the sp.
The fact remains that, fundamentally, GKP is stronger now than it was 5 weeks ago. There's been a 30% upgrade at Shaikan, new drills are imminent, and two drills are close to delivering.
By rights, a 30-40% jump tomorrow would merely take us back to where we ought to be.
I've been invested in GKP for almost exactly two years. I've seen posters come and go. I've endured the waves of ramping and deramping, and have held fast.
(Strangely, although I've always declared my bullishness about GKP, the most vicious personal attacks I've endured have tended to come from my side of the fence: BMD and his various incarnations; Boring Post, and his endless reinventions.)
Every big move north has been preceeded by seeming setbacks in the sp and a marked increase in mindlessly postive and negative posts. The past week has echoed the typical pattern.
Compared to 24 months ago, this is a different company. Massive OIP in the bank, two drills reaching the interesting stage, other drills in the immediate offing, production, and the political impasse almost sorted.
At times this board has been brilliant, providing even handed advice. At the moment it's going through yet another period of polarization, with posters on both sides of the argument doing their best to trash the place for those of us who share the best interests of fellow long-term investors.
We've seen it all before. It's always at its worst immediately before GKP takes another positive step in its continuing transformation.
Never thought I'd agree with Elena, but this needs to be referred to the FSA. Forging an RNS or a broker's note is against the law.
It's a sad indictment of this board that so few people have ticked up Austrobrit's post.
Regardless of the views we hold regarding GKP, forging a supposedly official document to sway investors should not be tolerated.
And don't forget SADR
TRP.L
1UP
TRP's concession in SADR (Western Sahara) is currently bogged down in politics, but if things ever get sorted out there (the major stumbling block is Colonel Gaddafi's support of Morocco's occupation; when he snuffs it, things could move rapidly) we can finally start taking a close look at one of the world's last great exploration voids.
It might contain nothing, it could be a resource of Saudi proportions, or anything in between. But if the oil price continues to rise, even the theoretical existence of oil & gas in SADR is worth something, and if nothing else we could sell the rights there to fund exploration elsewhere.
30-06-09
RAB Capital
AFE.L
10UP
I expect it was one of the temporary rampers rather than an AFE regular who red traingled me when I posted my suspicions about RAB Capital on the day of our 30% fall.
Well, it turns out that I was right. So whoever it was - if you're reading this - stick your red triangle up your bum.
As for the rest of us, hopefully we can now make sound, harmonious progress now that the RAB elephant is off our back.
24-08-09
Re: Some News Intelligenceleak
GKP.L
15UP
The source for this story is dealReporter, the subscription-only service offered to professional traders by the Financial Times.
No matter how ludicrous the idea of a Tartar company taking over GKP may sound, this is not the wild imagining of some rogue poster on a BB. This is a story that has been fact-checked.
-
12-10-09
Re: Alpha fool Chat from ADVFN
GKP.L
15UP
So this is what we've come to on this thread, is it? Someone posts a transcript from a widely-read live blog that is specifically relevant to GKP and they get five red triangles for their trouble.
FGS, grow up some of you. Stop treating GKP like a football team you support, and start treating it as an investment. Be open to all views and opinions, and allow your beliefs in the company to be tested constantly. That's how you know when to top up, when to hold, and when to sell.
I've read what Alphaville have said over the past few months, but I haven't acted upon their advice thus far and have consequently made a paper fortune.
But their warnings remain in the back of my mind, and ensure that I always remember that this is still a risky investment. We could be destined for riches, or our dreams could founder on a myriad of complications.
Contest other views by all means, but what's the point of trying to censor them?
Why is it that almost everyone overlooks the potential sale of the Algerian assets?
If the rumoured $150 million sale to GDF Suez goes through (or for a higher amount to another party if the suspected bidding war is going on), it'd be an instant game-changer. Suddenly Shaikan would be fully financed to production and there'd be funds to get the other blocks moving.
It was interesting that the interims specifically mentioned the Algerian assets as a possible source of funding. Interesting too that although some of the derampers on here falsely reckoned that the interims included an announcement for a placing, no placing has been announced. Algeria might be further advanced than we realise.
04-09-09
Re: MS - wake up
GKP.L
12UP
03-11-09
Master Shanus - 0.3 billion
GKP.L
10UP
Funny how you have consistently round down the DGA estimate from 5.3 to 5.0 billion barrels, wiping out 300 million potential barrels.
Funny, because you still keep posting positively over on TRP. 300 million barrels is x3 the potential of TRP's two main Ugandan prospects.
I can't understand why MS is so negative here - despite GKP making one of the biggest oil finds of the 21st century - and so positive over on TRP, despite the fact that their Ugandan well was a duster and their future prospects there are currently in the balance.
Over on TRP he's predicting imminent news. That news could be reasonably good (eg they've identified new prospects worth drilling in 2010) or dire (eg the field data hasn't shown anything new and therefore they won't go ahead with a second drill).
Here, we know that there is a high likelihood of positive news from several directions: Shaikan, Algeria, Ber Bahr, and takeover speculation.
The bottom line: I got out of TRP after the Iti-1 failure. If I'd listened to MS and stayed in, I'd still be sitting on a loss. When MS was shouting doom and gloom about GKP c 30p, I ignored him and let my holding run. Consequently my portfolio is currently showing a 5-figure profit.
02-11-09
The ceremony at Shaikan
GKP.L
17UP
that we saw pictures of in the Kurdish press last week didn't necessarily signify a milestone for the well.
Anyone familiar with the Middle East will know that ceremonies are two a penny, and often signify no more than the fact that some influential dignitary was invited to a site, with all the trappings laid on for him. To succeed in business in that part of the world, you have to court influence - and that's one way of doing it.
However, the speeches from all parties seemed very bullish, and Todd Kozel was beaming. Therefore, although we can't presume an imminent announcement on the strength of that ceremony, it does provide a window onto the current state of play at the well, and on GKP's relationship with the regional government. On those two fronts there appears to be plenty to be positive about.
01-11-09
Brokerman - ETAMIC
GKP.L
10UP
My first golden rule of investing: be sceptical of anything posted on a bulletin board. Although I'm intrigued by the posts of certain posters - Zengas, Brokerman and a few others - I don't base my investment decisions on what they say.
My particular wariness about Brokerman is based on this post of his, on LSE, from 14 October: "Etamic representatives have been in the City of London re a possible relisting of GKP onto the main market for late 2010."
For anyone who knows this share in depth, that statement is completely laughable. Even if such discussions were taking place, what business would ETAMIC have being involved? They're not on GKP's board (not officially, anyway), and are not even notifiable shareholders.
I hope his current information is correct, though it should be noted that news is due from Algeria and especially from Kurdistan at any time. In light of the story + photos in the Kurdish press, it would appear entirely likely that an RNS is imminent.
I'll continue to read Brokerman with interest, but even if there's an RNS in the next three days I won't take it as proof that he is the sage of our times. For that I'd need to see pigs flying with 'ETAMIC' branded on their sides.
25-10-09
Top Six Oil and Gas Discoveries this yea...
GKP.L
18UP
From today's Sunday Telegraph.
1) Iraqi Kurdistan. 1.9 billion barrels. (Heritage).
2) Australia. 1.2 billion barrels*. (ConocoPhillips).
3) Israel. 786 million barrels*. (Noble)
4) Iran. 742 million barrels*. (National Iranian Oil Co).
5) USA. 667 million barrels. (BP).
6) Brazil. 467 million barrels. (Esso).
* gas equivalent
Hmmm. Methinks they've missed one off that list.
25-10-09
Re: 500,000,000 Shares = GKP
GKP.L
31UP
GKP has 478.62 million shares in circulation, not 500 million. There is a difference. (That difference would pay for more than 40% of the required costs of producing Shaikan, so get your numbers right.)
Other junior oilers (eg Petroceltic and Tower Resources) are already over the billion share mark.
It is estimated that $80 million will be needed to bring Shaikan to production. That would involve a total placement of approx 50 million shares.
However, there has already been a bid of $150 million for the Algerian assets from GDF Suez. If we shift them in the next few weeks, NO SHARE ISSUE WILL BE REQUIRED IN THE NEAR TERM.
21-10-09
Reuters
GKP.L
10UP
http://uk.reuters.com/article/idUKLL10724720091021
Shares in Gulf Keystone Petroleum (GKP.L) fall more than 20 percent following Tuesday's rally to an all-time high after its partner, Hungarian oil and gas firm MOL MOLB.BU, says caution is needed in estimating oil reserves at an Iraqi exploration well. [ID:nLL78840]
"The market took a bit of a fright from that (the MOL comments). I wouldn't read too much into it," says Lionel Therond, an analyst with Fox-Davies Capital.
"The stock has been running up quite strongly and expectations have been built up in the price," he adds.
Therond, who maintains a "Buy" stance with a target price of 175 pence, is expecting a third party report imminently from Gulf Keystone, which has a 75 percent stake in the Shaikan-1 well.
A trader says investors are taking a chance to sell following the stock's strong run over the last three months.
"I think there are a few people sitting on big profits and any rumour of bad news makes people just want to take it out," he said.
18-11-09
Another bad day for GKP PIs
GKP.L
53UP
No wonder FT Alphaville, the UK press, and most of the city are laughing at us.
Many of us are sitting on big profits, yes. There's probably more to come, yes. But good grief, do we really have to exhibit all of the worst aspects of human nature in the process?
Today we've had racism, sexism, greed, delusion, sycophancy, and - certainly in the case of 'Todd Kozel' - market abuse. (In case whoever's responsible is too stupid to be aware of the fact, it is a criminal offence to pretend to be the CEO of a listed company and to post false information on a BB, a blog or any other public forum.)
Meanwhile, most of you continue to bow down to Brokerman as if he is some sort of deity. Have you forgotten that a few weeks ago he said the completed DGA report had been handed to Fox-Davies? Today he says it's been completed again. Oh, right. Must be a fact then.
He has not been 'right every time', as some insist. He's using the techniques of a cold reader (http://en.wikipedia.org/wiki/Cold_reading): he says things that appear specific, but he allows enough grey areas for the ignorant and gullible to project what they want to believe onto every pronouncement he makes. He's been wrong plenty of times.
He knows - as we all do - that an RNS grows more likely by the day, so it's no enormous leap into the dark to predict that news is imminent.
If you've done your research, have faith in it, and have faith in the company. But please retain a bit of dignity in the meantime.
13-11-09
Master Shanus - TRP v GKP
GKP.L
10UP
Master Shanus, on the TRP board on 21/6/09 - after TRP hit a duster: "Look at the long story here [TRP], how many O&E companies get a first strike in such uncharted areas? The odds are still for finding oil. Just put this in the bottom drawer and come back in November."
Back then, some of us on the TRP board were ethusiastic about GKP, but MasterShanus was already entrenched as a GKP skeptic. In retrospect, MS, did those of us who bailed from TRP in order to top up in GKP do the right thing?
11-11-09
Special mention for GKP
GKP.L
11UP
http://proactiveinvestors.co.uk/columns/investment_insights/544/why-theres-no-success-like-penny-share-success-including-big-news-from-dialight-0544.html
"Just four days earlier there was a similar story. That day, the share price of Gulf Keystone (ticker: GKP) more than doubled – rising from 13p to 28p after it struck oil in Kurdistan.
Today BP is valued at £110bn. If BP is going to double its share price, it needs to create that amount of value – value that is equivalent to the GDP of Singapore.
It has taken BP 150 years to get this far. Is it suddenly going to create £110bn of value overnight? No.
But penny share companies are valued at just a few million. It is easy for them to create that amount of value overnight. A good oil strike can be worth hundreds of millions."
11-11-09
Law of Probabilities
GKP.L
22UP
"GKP could publish their updated well results tomorrow but the chance of this is getting smaller each day." Master Shanus, this morning.
You've said some stupid things on this board, but this one deserves a special prize.
30-11-09
Re: I CANT WAIT!!!! - mrcombustible
GKP.L
15UP
Word of warning, though. Of a night, when you've done the deed, and you're lying there in darkness, if she asks: 'What we're you thinking about while we were doing it?'
Don't say: 'The drillbit striking oil in Shaikan-1.'
For some reason they don't like that.
30-11-09
Re: I CANT WAIT!!!! - mrcombustible
GKP.L
26UP
You need to start structuring you life around GKP:
- Laptop with wi-fi for morning RNSs
- Mini fridge containing champagne in the bedroom in case of early morning good news
- Map of Kurdistan on your bedroom wall
- Picture of TK on your bedside table.
Er. Maybe not that last one.
26-11-09
Re: Placing
GKP.L
16UP
I prefer this scenario.
1) Algerian assets sold for £100 million
2) Instant funding for multiple drills in 2010.
3) TK sticks two fingers up at the City.
24-11-09
Classic Bear Raid
GKP.L
12UP
The shorters have been in, made their 7% profit, closed, and moved on. All before 10am.
The only losers were those who sold in panic.
23-11-09
OIP v Flow Rates
GKP.L
20UP
After the DGA Report, some traders were reportedly angry that no flow rates were included because they are what determine the value of a well.
Today we get outstanding flow rates but no revision to the estimated OIP.
I could understand the doubts raised by the DGA Report: eg. You could have 100 billion OIP, but if you can only get it out at 500 bopd the size of the reserve is irrelevant.
Today we've got an estimated total flow rate of 31,000 bopd, which will be revised upwards. You don't get that kind of oil flow from a small reserve. So the bottom line is that Shaikan will make a lot of dollars per day for a lot of days - starting as early as April. It's a company changer.
Hold tight. The sp is severely undervalued.
21-11-09
robin goodfellow / aktierman
GKP.L
11UP
There have been some excellent discussions on here this morning. Starting a new thread doesn't kill off the other threads. I can't understand why posters who disagree with a particular topic being raised invariably feel the need to contribute to said thread, thus extending it.
Why not continue to contribute to the threads you DO agree with, thus keeping them on the front page, and ignore those you don't? Just a thought.
Btw, if either of you ever comes under personal attack, you'll have my support regardless. Unfashionable as it may seem, I do think there are limits to what people should say about others.
PS Nobody respond to this thread - I don't want it to clog up the page.
21-11-09
Message for Brokerman
GKP.L
23UP
I spent most of yesterday tending to a close relative who has terminal cancer and was literally screaming in pain. I logged on to LSE later and discovered that someone was saying I'd been banned.
Unsurprisingly, the source was your blog. Quite what has prompted that personal attack on me I don't know, though it seems to be related to a couple of BNP supporters I clashed with on ADVFN a few months ago.
You edited an erroneous racist comment, but you have chosen to leave a comment so despicable that I was almost physically sick when I read it.
"That b***** Nyasa dodged the bullet on LSE but he/Bwana got it between the eyes on Interactive. He won’t be seen there ever again you can be sure. Now he’s bleeting about family health problems. Hopefully he/she/it will die a long and horrible death followed by him. Long live the revolution. Death to our enemies."
So in your world if someone has the temerity to debate a point with you they deserve that sort of treatment do they?
Each to their own. There are currently bigger things in my life than pathetic internet vendettas.
19-11-09
Re: Hoist with his own petard
GKP.L
23UP
Randalf, this IS GKP-related. When BrokermanDan made the Fox-Davies suggestion, I said that it was completely absurd that an independent broker would be given a market-sensitive report. I was then subjected to 10 days of constant red-ticking by Brokerman and his acolytes.
Like it or not, his posts are taken as gospel by some and are reposted on all the forums.
Forums are for discussion and debate. If you see a hole in someone's argument (in this case, entirely GKP-related), surely one purpose of a forum is to point it out.
19-11-09
From LSE
GKP.L
29UP
'Offwork' posted this email from GKP this morning:
"We write in response to your email of 13 November.
"There is no legal requirement for an AIM listed public company to make a disclosure once a specific depth has been reached, however GKP will seek to announce any new material information as soon as practically possible. You are correct to anticipate an RNS announcement followed by a DGA report.
"We can not make comments on behalf of our partner MOL, however we understand that there are no existing concerns on their part with regards to the timing of exploration
"Thank you for your continuing support for the Company.
Best regards,
Gulf Keystone Petroleum Ltd."
24-02-10
MS & BMD
GKP.L
17UP
Reputations blown out of the water by today's bad news from TRP.
MS has always rated TRP above GKP. I guess the moral is 'it's the oil stupid'.
Yesterday BMD 'confirmed' that TRP had found oil. What little credibility he had left has now sunk.
Wish I'd stuck by my better judgement and stayed well clear of TRP, but I had a little punt on Monday. That's the second time they've done me. They're no GKP.
20-01-10
FAO Neil Hume
GKP.L
35UP
"I don’t know why GKP have not rallied more. I have some theories, but none that I want to share." Neil Hume, 18 January 2010.
So do you belong to the Can't Be Ars*d School of Journalism, or to the I Know Something You Don't But I'm Not Telling School of Journalism?
I'm a journalist myself, of the old school. If I sniff a decent story, I get stuck into it. I don't use a blog to promulgate snide hints and innuendo, and to engage in childish taunts against a section of my readership.
Spit it out, man. Let Gulf Keystone's lawyers take a look at what you have to say. Or is your reluctance to run a full, in-depth story on GKP due to your not being able to present hard and fast evidence? In which case, shut up, and start behaving like proper journalist rather than a sniggering smarta*se schoolboy.
11-01-10
Posters Beware
GKP.L
10UP
Looks like there might be a crackdown on market abuse on bulletin boards.
Someone on the DEO board over on LSE is in very hot water following a false announcement posted today. Certain posters - perhaps even those with their own blogs - would do well to read Point 6 of the FSA Code, as reproduced in the following link.
http://ftalphaville.ft.com/blog/2010/01/11/123706/more-fun-and-games-on-aim/
10-01-10
The key sentence
GKP.L
37UP
that makes a nonsense of any claims that we should sell up due to the political situation:
"We said it is time to look at this file and settle it with flexibility and realism in order to preserve the rights and interests in these contracts."
PRESERVE THE RIGHTS AND INTERESTS IN THESE CONTRACTS.
Who said it? Prime Minister Nuri al-Maliki of Iraq.
When did he say it? Last week.
That's a giant leap made by a man who, until last week, had maintained that the contracts were illegal. Now he is talking about preserving OUR rights and interests while hammering out the finer points with the KRG. Who would be stupid enough to sell up now?
31-12-09
Re: Akri Bijeel - Tas
GKP.L
18UP
"Why did he not report it to the markets then ?
If he did not report it to the markets it was because the oil shows encountered were not significant. ie they were traces of oil.
If the oil encountered after 30 days had any significance and he waited a full month to report it to the markets, he committed a crime."
Rubbish.
There is no obligation to report oil to the market as soon as it is hit. The size and quality of the find has to be analyzed first, and that can take as long as the company wants it to take.
Also, given the risks inherent in drilling a discovery well, there is always the very real possibility of the well being lost and any finds being rendered academic.
When GKP and TRP spudded last year, I discussed their obilgations to the market with a City friend. Basically, they can keep stum until after TD, or they can provide updates as the drill progresses. There is no legal requirement for the latter.
02-12-09
Re: FT - one other thing
GKP.L
17UP
If you were TK, and if the Koreans really did make an offer too good to refuse, what would you do?
Sell, and you're made for life. But you're an oil man, and being in that game is what you live for. Meanwhile, you'll have sold the biggest assets you've ever held to the Koreans, who have limited exploration and development experience.
What if you sell GKP to the Koreans, but you spin off a new company that will explore and operate in Kurdistan under contract to them?
You (and your shareholders) have got hideously rich, you've derisked the entire enterprise, you've retained an interest in future exploration, and you've got a new company to boot.
Hmmm. Tempting.
02-12-09
Re: FT
GKP.L
17UP
Back in September, my newspaper contact (the one who tipped me off about market misgivings about Frank Timis's role in GKP several days before it appeared in the Sunday Telegraph), said that the Koreans were interested in GKP.
When it comes to Iraq, South Korea has jumped on the Kurdish side of the fence. Any interest they have in Iraq will be in Kurdistan. Therefore, the 'one in Iraq' could well be GKP.
After all, we are the 'most popular person at the dance'.
01-12-09
Adnan Samarrai and Shaikan
GKP.L
15UP
TK made a big thing about Adnan Samarrai today.
We have the former Chief Exploration Geologist of Iraqi Petroleum in our team. There has been exploration and drilling in Kurdistan in the past, and Samarrai will be aware of all the known data (some of which no longer exists because it was destroyed in the aftermath of the war - so there's valuable information that is in his head and his head alone).
Todd indicated that it was Samarrai who picked our blocks.
Now look at page 19 of the PDF. Shows how shrewd Samarrai has been. The Shaikan anticline is almost entirely within our block. Other companies might have bigger acreage for individual blocks, but ours is - apparently - about 80% oil. Incredible!
The KOEP wasn't set up to exclude those with less optimistic opinions about GKP. It was set up because this board had become a slanging match, and the vast majority of the slanging was about fellow posters rather than GKP.
Your political analogy works in so much as this board illustrates what a public forum can denegerate into without rules and regulation.
As others have said, if you've got a problem with not being on the KOEP board, why not just ask to join? Simple as that.
Of course, your recent completely unjustified comments about FF probably don't stand you in good stead, but whose fault is that?
Some of the uninformed garbage on this thread illustrates precisely why the KOEP board was set up in the first place.
For the first half of last year, this board was largely a civilised forum for informed discussion. Several posters - including FF - provided useful information that gave mainy of us - including me - the basis for the research that enabled us to buy into GKP before Shaikan spudded.
After oil was found, and the sp multiplied, the board was trashed by a handful of attention seekers.
MS deramped the share from 13p onwards, prompting page after page of debate about him rather than GKP. Boring Post's contributions often consisted of the word 'buy' typed hundreds of times. BrokermanDaniel cast himself as some kind of guru, and anyone who had the temerity to point out that his pearls of wisdom were nonsense was subjected to a red ticking campaign by him, his aliases and his cohorts.
That was the background against which the KOEP board was set up. It provided, and provides, a venue for informed, respectful debate. It was only elitist in that it sought to exclude the posters whose main focus was not GKP and Kurdistan, but on winding each other up.
This board occasionally has moments of lucidity, but in general that background persists - just witness the moronic fuss about the meeting with TK.
Most boards on iii seem to have one big cheese who rules the roost. For nine months or so, GKP has had several big cheeses fighting for supremacy, and their squabbles have dominated the threads and often make the site unreadable.
If you've got a problem with the KOEP board, why not rein in your egos and get this board back to what it once was? The informed posters would return, and this might once again become a forum for mature discussion which - hopefully - will help us all make money from our GKP investments.
But for now, it seems, if you want to read grown-up conversation, the KOEP board is the place to find it.
26-03-10
Re: Allawi election news! - runner44
GKP.L
13UP
The market's inherent dislike/mistrust of GKP is why we're not sitting at a higher sp.
SEY are currently in the early stages of the first drill in their only block, and their market cap is almost the same as GKP, who have one massive find in the bag, another soon to be announced, and two more blocks waiting in the wings.
Politics has been a big black cloud over all the Kurdish oilers, and that might be about to lift.
Funding seems to be a weight on GKP specifically (despite the fact that we have OIP and no debt), but a big find at Akri-Bijeel - and carefully placed rumours that it's a saleable asset - could solve that issue.
We all know that sooner or later the dam will break on GKP's sp. Indications now are that it could be sooner rather than later.
24-03-10
Re: EVO Like Alphaville
GKP.L
13UP
To be fair to Alphaville, they've really taken the gloves off in the past few days and have had a couple of real goes at GKP.
It's quite heartening, actually. Last year they were scathing about GKP when the sp was 13p ("this share is a sure way to lose money"), and later recommended selling in the 80s just before the ascent into the 120s.
Over the past few months they've been slightly more balanced, harping on about the funding being key, and that once it's sorted the sp will move sharply northward.
Now, perhaps due to the complete mutual loathing between them and the investors they have taken it upon themselves to mock, they have increased their general snideness towards GKP.
With Akri-Bijeel nearing TD (and the possibility that the sale of that asset could underwrite most of GKP's current plans), and the political picture improving by the day, they've got balls to up the ante in their battle with GKP - but they appear to be lacking in the brains department.
And still the Sword of Damocles(Constant threat; imminent peril: "the Latin American debt, overhanging American banks like the sword of Damocles" (Arthur M. Schlesinger, Jr.).) hangs above their heads....
13-03-10
Re: Hung Parliment Likely in Iraq - jimm...
GKP.L
13UP
Please explain why you reckon GKP is a sell when a hung parliament is probably the best possible outcome for the company.
The Kurds hold the balance of power. Any party with pretentions to rule Iraq must do a deal with the Kurds. Any deal will include concessions on oil.
Perhaps you should change your 'sell' to 'buy'.
04-03-10
Re: Market Abuse by FT
GKP.L
28UP
To repeat my post of 20th January, which remains relevant:
"I don’t know why GKP have not rallied more. I have some theories, but none that I want to share." Neil Hume, 18 January 2010.
So, Neil Hume, do you belong to the Can't Be Ars*d School of Journalism, or to the I Know Something You Don't But I'm Not Telling School of Journalism?
I'm a journalist myself, of the old school. If I sniff a decent story, I get stuck into it. I don't use a blog to promulgate snide(Derogatory in a malicious, superior way.) hints and innuendo, and to engage in childish taunts against a section of my readership.
Spit it out, man. Let Gulf Keystone's lawyers take a look at what you have to say. Or is your reluctance to run a full, in-depth story on GKP due to your not being able to present hard evidence? In which case, shut up, and start behaving like proper journalist rather than a sniggering smarta*se schoolboy.
28-05-10
This Board
GKP.L
34UP
So it's okay to have page after endless page of navel-gazing and back-biting. But when the UK's leading financial newspaper begins to question the validity of GKP's OIP figures, that's not a suitable topic for discussion?
For nine months people on here have been wondering why GKP's sp is not higher than it is. The FT Alphaville incident has given us a little peek at the City establishment's deep-seated prejudice against this company. If that's not worthy of detailed discussion on the GKP DISCUSSION BOARD, I don't know what is.
Apologies for the off-topic post. Now get back to talking about each other.
A little man in a bad wig. No wonder he hates GKP. He's got nothing else in life to make him happy.
(Thanks for the link, Marsman.)
http://espanol.video.yahoo.com/watch/4386508/11767741
26-05-10
FT Alphaville & Sachsgate
GKP.L
17UP
So, Hume and Elder have effectively compared themselves to Brand and Ross, and yesterday's shambles to Sachsgate.
Rubbish. Like them or not, Russell Brand and Jonathan Ross are talented, and their humour is wide-ranging. The 'humour' on FT Alphaville is painted in two colours: one cynical, the other sarcastic. That's all H&E have in their arsenal. If they're not being cynical they're being sarcastic. How erudite(learned). How witty(Possessing or demonstrating wit in speech or writing; very clever and humorous.).
In truth, their 'Sachsgate' came when they cynically purchased an insulting web domain and sarcastically pointed it here. Any pretense they have of being serious journalists was lost when they decided to start insulting a section of their readership. They shouldn't be surprised when that section of readership bites back.
25-05-10
Well, the FT have finally said it - more...
GKP.L
20UP
They've hinted, they've suggested, they've nudged and winked. Now they've put it out in broad daylight: they don't believe GKP/DGA's OIP figures.
From their sector watcher's update today: "However we would caution that there still remains material geological risk, especially as the [Shaikan]reserves have not yet been fully audited by a reputable reservoir engineer."
The use of the word 'reputable' seems to be a pointed dig at TK and the GKP board. Months ago I was told by media colleagues that GKP was languishing under the 'Timis effect'. For those not familiar with Frank Timis (who was a major taker of GKP's pre-Shaikan placing) and the Regal Petroleum episode - http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/7258982/Questor-share-tip-Buy-Regal-Petroleum-its-Greek-tragedy-is-history.html
I think Akri-Bijeel could go a long way to addressing this particular issue. Presumably the FT will regard MOL's reservoir engineers as 'reputable'.
18-05-10
Re: Breaking news from AFVFN - terrytrin...
GKP.L
34UP
Intelligenceleak is not a shorter.
Last year he had a very good record of supplying info from the private newswires used in the City. I have no doubt that the info he has posted this time is a direct quote from one of those subscription-only sources.
Funding is essential to enable GKP to make the next big stride. We know it's coming soon, and this puts a bit more flesh on the speculation. It's good news.
24-04-10
Elena Investment Advice
GKP.L
17UP
"If contracts are recognised by the Iraqi government and exports can start then GKP would be worth buying at 150p+." Elena, yesterday.
Let me get this right: according to Elena, if GKP's sp near-doubles from the current level it would then be worth buying.
Ummmm. Just a thought, but wouldn't the ride from 80p to 150p+ constitute a half-decent investment?
The contracts are undoubtedly holding the sp down, but given that, among other companies, we have China's biggest corporation (Sinopec) on our side of the fence, the odds are pretty good that it'll all get sorted. Therefore, surely, this is an excellent entry level for new investors.
26-07-10
Babe Sherman: Genius
GKP.L
11UP
Babe Sherman, 08:32 this morning: "Dont think we'll see the nineties again for a long time and if I were betting on it I'd say never."
GKP sp, 10:55 this morning: 90p
23-07-10
FT - What do you expect?
GKP.L
22UP
"Gulf Keystone Petroleum jumped 21.4 per cent to 85p on vague gossip of bid interest at around 250p a share. Meanwhile, fellow Kurdistan oil group Sterling Energy slipped back by 3.8 per cent to 121¼p after it pushed back the schedule for a test well at its Sangaw North prospect by a month to September."
The author is Bryce Elder, one half of the FTAlphaville Chuckle Brothers, hence the pointed use of the words 'vague' and 'gossip'. This is not impartial reporting at its best. This is a journalist putting a cynical spin on what the market views as a realistic proposition. Namely, that a company with massive OIP and the biggest acreage in Kurdistan is a prime candidate for a takeover.
23-06-10
Re: ddboy's post's on the LSE - Hub
GKP.L
24UP
News out of the way?
Production at Shaikan is imminent.
The chatter about the contracts is becoming increasingly positive.
And anyway...Shaikan-2 is all about increasing the resource estimate for the Shaikan structure. Haven't we effectively just done that today?
20-06-10
This US Navy story
GKP.L
15UP
CNN aren't running with it.
BBC aren't running with.
Not even Fox News are running with it.
Who are the main sources? Press TV, Ha'aretz, Ynetnews, IndyPosted, Arutz Sheva, Zee News, The Media Line and others of a similar ilk.
The Internet's full of garbage. Don't believe a word of anything until it goes mainstream - and even then, treat it with caution until you are convinced by the weight of evidence.
(Sources courtesy of: http://news.google.co.uk/news/more?pz=1&cf=all&ned=uk&cf=all&ncl=dz0e9Vv0Rc5T8FM7PGi1oc-Y8SqXM )
10-06-10
Re: 15p apology
GKP.L
23UP
The dramatic rise in August was caused by making a massive oil find. That oil is still there.
(Interestingly, if you look at SEY, you'll see their chart also had a dramatic spike in August - based entirely on GKP's success. SEY had no oil then, and despite today's RNS they still have no oil.)
Production of the oil is about to begin, another well (operated by MOL, but in which GKP have a stake) is due to report at any time, and an exciting programme of further exploration is fully funded into 2011.
Underlying everything, there is a dispute about the oil contracts awarded to foreign companies in Kurdistan. Once that is sorted out - as it will be - the brakes will truly come off.
10-06-10
Re: 15p target
GKP.L
31UP
Brilliant. So, in your expert opinion, this company is worth less than the cash it has in the bank?
And as for the biggest oil find of 2009 and biggest acreage in Kurdistan - they're of negative value?
We've had some complete idiots pop up on this board over the past 18 months, but you take the biscuit.
05-06-10
This 'Border Incident'
GKP.L
16UP
1) It happened on Thursday, and consisted of an Iranian force of just 30 soldiers.
2) It had nothing to do with the Iranians attempting to seize Kurdish territory, and had no implications for the oil industry. They were chasing PJAK rebels who have mounted attacks in both Iran and Turkey.
3) End of story.
16-08-10
Re: from lse - source
GKP.L
14UP
The poster on lse had merely copied and pasted from a 4-day-old source.
http://www.theiraqidinar.com/enorrste-conference-call-notes-posted-on-just4dinar/
Please, people, can we be a bit more discerning in the news we chose to relay?
At the very least, check the dates and where it's come from. 'Dinar Daddy's Titbits' is no Reuters, and the fact that they predicted a new government for last Friday - and it hasn't happened - suggests that they may have done some leaping to false conclusions.
12-08-10
Re: Misleading...
GKP.L
12UP
I broadly agree with your criticism of mindless ramping, though it has to be said that anyone who buys any share without researching it thoroughly is asking for trouble.
But then you say: "after all all we are doing is predicting the progress of an oil company in a war zone"
Since when is Iraqi Kurdistan a war zone? If anyone is posting misleading statements, it's you.
11-08-10
Re: O/T but related-TRP
GKP.L
15UP
Last year Master Shanus was ramping TRP while deramping GKP. Enough said.
GKP is currently trading way below its actual value. Your prediction of 15p was ludicrous because it writes off almost ALL of the company's assets, including the cash in the bank from the recent placing and the 4 billion + barrels of oil discovered last year.
Look at the fundamentals rather than the charts and I expect you'll reach the conclusion that this share is one of the most outstanding prospects for the next 6-18 months.
11-08-10
Next News
GKP.L
10UP
Production next week, I reckon.
Akri-Bijeel news before the end of the month.
Shaikan-2 spud within 4 weeks.
Sheikh-Adi news anytime from October onwards.
It won't be long before we get the usual suspects on here saying that the sp will drift downwards in the absence of news. That may have been true for the first 7 months of 2010, but we've now moved into a whole new ballpark. Slang. The approximately proper range, as of possibilities or alternatives: Your estimate is high, but still in the ballpark.
09-08-10
FAO Babe Sherman
GKP.L
13UP
In the light of today's HAWK RNS, would you care to repeat the allegation you made about GKP on 19th July?
Namely, and I quote:
"I know all about the dubious history of this company but I wont go into that , the market knows that theres a worm in the apple and no doubt in several weeks time that worm will reveal itself.,,
"GKP is on a precipice and what I'm really waiting for is a high volume sell off day that will take GKP to the next leg down.."
We've had our share of derampers on here, but to my mind Babe Sherman has been the most odious(Arousing or meriting strong dislike, aversion, or intense displeasure), not only in his disrespectful attitude towards fellow posters, but also in his tendency to step across the line that separates deramping from outright dissemination.The passing out or spreading about of something
09-08-10
FAO Babe Sherman
GKP.L
13UP
In the light of today's HAWK RNS, would you care to repeat the allegation you made about GKP on 19th July?
Namely, and I quote:
"I know all about the dubious history of this company but I wont go into that , the market knows that theres a worm in the apple and no doubt in several weeks time that worm will reveal itself.,,
"GKP is on a precipice and what I'm really waiting for is a high volume sell off day that will take GKP to the next leg down.."
We've had our share of derampers on here, but to my mind Babe Sherman has been the most odious, not only in his disrespectful attitude towards fellow posters, but also in his tendency to step across the line that separates deramping from outright dissemination.
08-08-10
Re: Master Shanus
GKP.L
24UP
It's deja vu(Psychology. The illusion of having already experienced something actually being experienced for the first time.) all over again.
All of last year - from 13p to 120p - Shanus was like the little devil sat on our shoulders. "There won't be any oil." "Oh, there is, but it won't flow." "Oh, it flows, but it'll be the wrong type." "Oh, it's not the wrong type, but they'll never be able to export it." and on and on. Until we hit £1.20, and then, if I recall, he congratulated us all and toddled off.
Then began the sustained bear run, and Tas popped up to provide the commentary, hour after hour, day after day, month after month.
The tide's turned, the trend is looking bullish, the newsflow is very promising indeed, and hey presto - Shanus is back! Brilliant. I look forward to his dire predictions the whole way up to £10. When he starts conceeding that we were right all along, that's the moment to get out.
06-08-10
BMD - A Potted History
GKP.L
34UP
(For Newbies).
He appeared on the LSE GKP board last year after Shaikan. He claimed to be 'in the know', though some of his 'inside information' was somewhat suspect (eg He claimed that representatives from ETAMIC were in the City negotiating GKP's admission to the FTSE; He reckoned that the full DGA report was doing the rounds within the City even though those of us in direct contact with DGA were told that the report hadn't even been finished).
Anyone who posts on a BB should expect to have their info tested. BMD didn't like debate, and developed grudges against anyone (mainly loyal GKP holders) who questioned him. Eventually, after several incarnations, he was permanently banned from LSE.
He then appeared here and resumed his role as the font of all wisdom, while also attacking all the loyal GKP holders he held grudges against. (eg In the days of red ticks, he went through my past posts and red ticked the lot of them. Classy.) After several incarnations, he was permanently banned from iii.
Someone on here suggested that he start a blog. He did, and continued his modus operandi, including using it as a platform to attack several loyal GKP holders. His predictions didn't get any better, but he had a vociferous band of followers who happily attacked BMD's perceived enemies (who were, let's not forget, mainly loyal GKP holders).
He announced that Optare were about to be taken over. The sp spiked immediately after his announcement. The rumour was garbage. People lost money.
He announced that TRP had struck oil. The following day they declared a duster. People lost money.
There was a long silence. He then revealed that he had had a near-fatal car accident. But now he's back again in full voice, and again a band of followers is lapping it up.
On GKP he might be doing people a favour - we all know what the company's propects are. But otherwise, buyers beware.
06-08-10
FT Alphaville
GKP.L
16UP
Two observations:
1. A few months ago they said GKP's biggest problem was raising funds to develop their assets. If the funds were raised, the sp would rise, so they said.
Funds were raised, but yesterday FT Alphaville opted to characterise it as 'refinancing the thing' - refinancing generally being a term applied to companies in their death throes.
Funny that.
2. At the end of last year, EVO said that investors should switch from GKP to SEY, because SEY would have all the newsflow for the foreseeable future. FT Alphaville's sector watcher agreed with that, and indeed FT Alphaville have been broadly positive about SEY while never passing up an opportunity to have a snide dig at GKP.
As it happens, both companies have had a quiet first half of 2010 re news. But from where we sit now, which company offers the biggest bonanza of positive newsflow in the coming months?
Funny that.
05-08-10
Re: Crowd is going wild
GKP.L
17UP
Your mechanical software hasn't factored in the value of shares traded. 20 million shares at £1 are more than equivalent in value to 100 million shares traded at 13-40p a year ago. So there's nothing to worry about on that score.
You also conveniently ignore the newsflow expected for the rest of the year. We had very little in the months after Shaikan. Today's RNS was just a prelude. All manner of stuff is expected this month and in the rest of 2010. And don't forget - probably next month - GKP shifts from being exclusively an explorer to being a producer.
Programme all of the above into your software then get back to us.
05-08-10
A reminder
GKP.L
25UP
This is what the lovely, kind-hearted Babe Sherman said just last week:
"Most posters on this board are woefully lacking in trading experience and become lambs to the slaughter when unscrupulous traders want to offload a losing position.
Dont think we'll see the nineties again for a long time and if I were betting on it I'd say NEVER.
This pump and dump exercise on the back of a fabricated rumour (a reheated one at that) is just another example of this sordid share , as the PIs continue to get fed into the market meat grinder.
Babe "
Where is he these days?
04-08-10
Re: 6 months a long time
GKP.L
23UP
There's plenty to tide us over in the meantime:
Akri-Bijeel: currently close to TD - news any time
Shaikan-1 workover programme: currently testing, news any time
Shaikan-1 production: could start as early as next month
Iraqi politics: news any time
Shaikan-2 spudding: probably within the next four weeks
KRG contracts for SA and BB: news any time
Payment from BG re Algeria: news any time.
etc etc.
Investors will have the upper hand over traders for the rest of 2010. Today was a case in point. When the RNS came out, the sp put on 9p in a minute. Thus far this year, the traders have been able to rely on the sp retracing. But some of the expected news listed above could send the sp into a whole new trading range.
Go long, and you can relax. But shorters have to be aware that a well timed RNS could give GKP a +£1.50 or even +£2.00 opening one of these mornings. The potential gains of going short are relatively modest when measured against the risk of a multi-bagging loss.
29-07-10
Narcissism, shorting and iii
GKP.L
11UP
Narcissism (noun)
1. inordinate fascination with oneself; excessive self-love; vanity.
2. Psychoanalysis . erotic gratification derived from admiration of one's own physical or mental attributes, being a normal condition at the infantile level of personality development.
Internet forums and BBs are known to be a magnet for narcissists. Narcissists can easily be identified by their predilection for idiosyncratic grammar and/or their compulsion to sign every post with their user name or a 'witty' slogan.
In the realm of private investment, narcissists are especially drawn towards shorting. They perceive it to be a 'dark art' which sets them apart from the crowd and allows them to indulge the fantasy that they are innately( Possessed at birth; inborn.
Possessed as an essential characteristic; inherent.
Of or produced by the mind rather than learned through experience: an innate knowledge of right and wrong.) superior to mere mortals.
Narcissism is a mental illness. These people should be pitied. They need help.
22-09-10
Spelling it out
GKP.L
26UP
"[T]he initial indication of the oil-water contact in this well is supportive of the concept of a single regional aquifer; this further supports the upside oil volume scenario for all four blocks in which GKP has an interest. In addition, it appears that the Bijeel structure could be a southern extension of the much larger Bekhme structure."
Possibly the single most significant piece of info we've had from GKP this year.
MOL are testing a SUPERGIANT. The Bekhme well has been derisked. The information being gathered at Akri-Bijeel will have implications for ALL FOUR blocks.
Later this morning, FT Alphaville will no doubt snidely remark that the RNS contains nothing new. They wouldn't recognise a supergiant if they fell in it.
19-09-10
Re: Telegraph - Douglas Allen
GKP.L
23UP
I'm a journalist. 16 years on the Telegraph. There was a time when every fact had to be accounted for. Now I'm astonished by some of the lax reporting that makes it into print.
The offence I take at the article is not on behalf of GKP, but rather that it is yet another example of the slap-dash cut-and-paste jobs that pass for serious journalism.
And yes, the line I quoted is an error. If I'd made that mistake when I was starting out I'd have been hauled across the coals by the sub-editor (who would have ensured it didn't make it into print).
19-09-10
Telegraph - A Bigger Error
GKP.L
23UP
"The company's fields are believed to hold between 1.9bn and 7.4bn barrels of oil."
Erm, no. That figure is based on the first well in just one of GKP's four blocks. The belief is that the company's fields hold a tad more than 1.9bn-7.4bn. Probably ten times more.
Devaluing the company by £200 million is one thing, but to completely disregard the very positive noises being made about Akri-Bijeel and Sheikh-Adi is to do an oil explorer a grave misjustice.
13-09-10
Babe Sherman
GKP.L
41UP
Post from Thursday (with a double Sell recommendation):
"Ginty ,
One of the problems with these boards is that they develop groupthink and mob mentality.
Obviously most people who post on this board have a favorable GKP bias because they've bought into the company.
Any negative posts are treated with disdain and on this board anyone who disagrees with the mob is subjected to abuse and invective.(Denunciatory or abusive language; vituperation.)
For me the biggest warning sign for me as regards GKP are the type of people who invest in it as this board exemplifies.
GKP is a tip takers share , and tip takers to me are like dirty drunks , incapable of any depth of thought or reasoning.
Babe"
You were wrong in the 60s, you were wrong in the 110s. Anyone who's listened to your advice will be SERIOUSLY out of pocket.
Have you ever stopped to think that the abuse you get is because you're wrong and the majority on here are right?
07-09-10
BMD & the Derampers
GKP.L
18UP
Funny how BMD starts banging on about civil war in Iraq (proving beyond all doubt that he knows very little about the current situation on the ground there, and less about Kurdistan), and suddenly that's the angle that's been picked up by derampers across the boards.
Funny, too, how some of these derampers - in common with BMD - claim to be invested in GKP.
This, it seems, is BMD's Payoff: after months of ramping GKP with info of dubious quality (and attempting to build up a band of followers), he's now playing a different game. But his info is still of dubious quality.
24-08-10
Leeds
GKP.L
18UP
You told me not to respond to Elena, then you did yourself, and then - not for the first time - you started a whole new thread about her.
Elena may have large blind spots in his/her understanding of GKP, but some of the debates he/she has provoked have been quite useful to those of us who believe the primary purpose of this board should be as a forum to exchange and discuss relevant information
Your incessant drivel(To talk stupidly or childishly.) contributes nothing.
23-08-10
energy lully
GKP.L
13UP
was on the SXX board this morning congratulating Spidey for ramping SXX over here.
Personally, I think the rampers are every bit as bad as the derampers. They blot out genuine news and productive debate with clouds of disinformation. It doesn't do anyone any good.
However: for the 7am crew who thought that the lack of an RNS meant no possibility of news today, remember that MOL tend to release info in the afternoon. News is overdue, and today could yet be the day.
But that's based on deduction rather than a 'friend in the City'. (If the City genuinely had forewarning that news was on its way today, they'd be buying like crazy. IIRC, when first news of oil at AB was announced, there was a 10-minute lead-in during which the sp went haywire. That's what I'd be looking out for - not the hearsay(Unverified information heard or received from another; rumor.) of a serial ramper.)
01-11-10
Re: what news blackout? !
GKP.L
35UP
Only when we get upgraded OIP figures can it be said that there isn't a news blackout.
The news blackout theory relates to the KRG withholding resource updates from the central government. Despite the workover rig on Shaikan-1, and today's news, GKP has not yet upgraded OIP.
The proof of the pudding will be whether we get Bijeel-1 results before, during or after government formation.
29-10-10
Re: MikeyAdmin/Jackozy et al
GKP.L
26UP
Mikey,
Re the blackout theory, you consistently ignore the single most important piece of evidence: Shahristani said that the KRG are withholding resource figures.
The KRG are not drilling; foriegn companies are. Those companies must have made finds that are not yet in the public domain, otherwise the KRG would have nothing to withhold.
Added to MOL being 2 months late on delivering a result on their sidetrack, several other companies have been drilling this year, yet nobody has announced anything of note.
Either Kurdish oil has dried up, or new finds have been made but haven't been declared. I refer you again to Shahristani's statement.
28-10-10
Re: o/t vast copied - Mikey
GKP.L
34UP
"That puts to bed the blackout theory regarding Vast."
No it doesn't. Not until they actually release some news regarding OIP. MOL have been saying there'll be news in 2-3 weeks for the last 8 weeks, still nada.
The blackout theory is that the KRG are withholding OIP/reserve figures from the Iraqi Oil Ministry.
Actually, it's more than a theory. Shahristani himself confirmed as much.
There are negotiations about government formation going on at the moment. There might come a point during those negotiations at which the blackout card is no longer needed, in which case KRG will approve news releases that include the sensitive information.
It's entirely possible that for the last 8 weeks the KRG has been telling the Kurdish oilers that they'll be able to release news in "2-3 weeks". Hence, VAST are still on track to release news as forecast. However, I wouldn't be surprised if they run into 'drilling difficulties' between now and then and have to 'repair the rig' or 'sidetrack'.
I don't see the blackout theory as being a negative thing. It is a sane and sensible explanation for the lack of news over the past year (which has flown in the face of Kurdistan being the most prospective new oil territory in the world). When it's lifted, there'll be a tidal wave of good news.
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201 to 240 of 728 Messages
Date/Time Subject Discussion
03-11-10
Re: Time to short?
GKP.L
2UP
03-11-10
Re: time to get the shorts on
GKP.L
4UP
03-11-10
Re: time to get the shorts on
GKP.L
7UP
01-11-10
Re: what news blackout? !
GKP.L
35UP
Only when we get upgraded OIP figures can it be said that there isn't a news blackout.
The news blackout theory relates to the KRG withholding resource updates from the central government. Despite the workover rig on Shaikan-1, and today's news, GKP has not yet upgraded OIP.
The proof of the pudding will be whether we get Bijeel-1 results before, during or after government formation.
More | View thread (6) | Respond | Vote up
29-10-10
Re: MikeyAdmin/Jackozy et al
GKP.L
26UP
Mikey,
Re the blackout theory, you consistently ignore the single most important piece of evidence: Shahristani said that the KRG are withholding resource figures.
The KRG are not drilling; foriegn companies are. Those companies must have made finds that are not yet in the public domain, otherwise the KRG would have nothing to withhold.
Added to MOL being 2 months late on delivering a result on their sidetrack, several other companies have been drilling this year, yet nobody has announced anything of note.
Either Kurdish oil has dried up, or new finds have been made but haven't been declared. I refer you again to Shahristani's statement.
More | View thread (48) | Respond | Vote up
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28-10-10
Re: o/t vast copied - Mikey
GKP.L
34UP
"That puts to bed the blackout theory regarding Vast."
No it doesn't. Not until they actually release some news regarding OIP. MOL have been saying there'll be news in 2-3 weeks for the last 8 weeks, still nada.
The blackout theory is that the KRG are withholding OIP/reserve figures from the Iraqi Oil Ministry.
Actually, it's more than a theory. Shahristani himself confirmed as much.
There are negotiations about government formation going on at the moment. There might come a point during those negotiations at which the blackout card is no longer needed, in which case KRG will approve news releases that include the sensitive information.
It's entirely possible that for the last 8 weeks the KRG has been telling the Kurdish oilers that they'll be able to release news in "2-3 weeks". Hence, VAST are still on track to release news as forecast. However, I wouldn't be surprised if they run into 'drilling difficulties' between now and then and have to 'repair the rig' or 'sidetrack'.
I don't see the blackout theory as being a negative thing. It is a sane and sensible explanation for the lack of news over the past year (which has flown in the face of Kurdistan being the most prospective new oil territory in the world). When it's lifted, there'll be a tidal wave of good news.
More | View thread (12) | Respond | Vote up
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28-10-10
A Word of Warning
DES.L
28-10-10
Re: Borrowing to Invest in GKP - 3dgie
GKP.L
11UP
"I would not let anyone put you off, as I have said before GKP is akin to Halleys Comet, which won't pass this place for another 50 years, Another GKP coming by in that time frame??"
That's precisely the kind of irresponsible ramping that fuels market bubbles and can cause gullible investors to lose everything.
THERE IS NO SUCH THING AS A SURE THING.
Who would have predicted that BP - of all companies - would lose half its value earlier this year? If it can happen to BP, it can happen to any company.
GKP is an amazing prospect because of the risk/reward ratio. The risks are high - though probably overstated by the market - and therefore the potential rewards are also high.
However, RISKS are RISKS.
Ultimately, everyone is responsible for the degree to which they expose themselves to risk, but anyone actively encouraging others to invest more than they can afford to lose is being grossly irresponsible.
26-10-10
There IS a new blackout
GKP.L
14UP
It was all but confirmed by Shahristani when he upgraded Iraq's reserves on 4th October. This from the BBC report:
"The new proven reserves figure excludes oil located in the autonomous province of Kurdistan in the north of the country, according to the oil minister.
"The Kurdish regional government did not supply us with the latest developments of their activities," complained Mr al-Shahristani.""
Several companies have been drilling this year, but while we have had oil flow figures from some - including MOL - there haven't been any OIP or Reserves updates. Why not?
The answer, IMO, is that the KRG are not cooperating with the Iraqi oil ministry. I am sure that the Kurdish oil contracts specify that the KRG must approve any significant public announcements made my individual companies with regard to drilling operations in the region (that's standard practice in most parts of the world).
Shahristani says KRG are withholding information about reserves. That can only be information pertaining to recent drilling (inc Bijeel-1) that hasn't yet been made public.
I don't think it's a shady conspiracy. It's merely one of the pawns being used in the current political chess game.
On the bright side, I believe that MOL may have been using the additional time to upgrade their OIP estimate to actual reserves. If that's the case, then when the announcement finally comes it will provide a figure that GKP can add to the bottom line....and suddenly we will be a company with proven reserves in addition to estimated OIP.
24-10-10
Re: bloomerg article
GKP.L
15UP
I presume you mean this:
http://www.bloomberg.com/news/2010-10-24/iraq-s-allawi-bloc-says-oil-gas-licenses-are-illegal-may-be-canceled.html
I am truly shocked that after months of discussion, there are still people on here who don't understand the difference between the Kurdish oil contracts issued by the KRG and the contracts for southern Iraq awarded by Maliki's government.
Allawi's only talking about the latter. In doing so, he's appealing to the Shiites of southern Iraq who were outraged at central goverment doing a deal with foreign companies over their heads, and to the Kurds, who have always maintained that their contracts are constitutional while Maliki's aren't.
16-10-10
Re: Set to soar on bid news
GKP.L
10UP
I advise PLENTY of research before contemplating an investment in TAN. You will not find many shareholders - if any - enthusiastic about the management.
Optare is closely related to TAN, and it has been subject to takeover rumours that have come to nothing (see BMD's posting of such a rumour a few months back, which directly caused the Optare's sp to spike before falling right back, costing many punters real money.)((Informal. To cease doing something; give up: Let's punt on this and try something else.))
punt2 (pŭnt) pronunciation Football.
n.
A kick in which the ball is dropped from the hands and kicked before it touches the ground.
First stop if you have any appetite for TAN, Google 'Roy Stanley' - the chairman of TAN, who sold his holding at the top, and bought back when the sp had dropped by more than 90%.
15-10-10
Re: Placing ? Pull yer necks in ..scaram...
GKP.L
18UP
Some facts.
1. FT Alphaville have waged a war of juvenile sarcasm against GKP and its shareholders for more than a year in their daily live market blog. That's the nature of that particular forum.
2. In their official blog (which tends to stick to verified sources rather than speculation), they correctly predicted the last placing (not hard - a lot of people have to be approached in advance of a placing, and some of them talk to journalists).
3. In all probability, there will be an RNS about a placing on Monday.
14-10-10
Holding at 1000% Profit
GKP.L
19UP
Despite all the helpful posters on here over the past year who advised all holders to sell.
They would have cost me a fortune - had I listened to them.
08-10-10
Re: HOIL
GKP.L
13UP
What evidence do you have that money from GKP is moving into HOIL?
Why would anyone currently in GKP want to miss out on the imminent results from Bijeel-1 (where we've already found oil; we're waiting to discover how much), and Shaikan-3 (ditto)?
Oh, and the drill at Sheikh-Adi is due to reach the first payzone round about now.
Far too many irons in the fire over here to risk going over there.
04-10-10
Re: bored?
GKP.L
17UP
Formation of a new government is the single most important issue standing between us and massive wealth. Why would you find it boring?
The truly groundbreaking RNS most of us are holding out for is the one about a takeover.
At the moment, most of the big potential buyers are excluded due to the blacklisting of oilers operating in Kurdistan. As soon as the blacklisting is lifted - which would happen the instant the Kurds got the oil ministry - there will be a massive scramble for Kurdish assets.
All other RNSs are merely milestones along the way. For that reason, the twists and turns of Iraqi politics are far from boring. Our lives could be transformed by the outcome.
04-10-10
Kurds & Maliki
GKP.L
28UP
Despite the failures of the current government, the Kurds have always seemed more inclined to lean towards Maliki.
The office of the president is supposed to be earmarked for the Kurds. That's their golden bargaining chip.
Allawi seems to be willing to accept the presidency, albeit with enhanced powers. The Kurds seem willing to give it up in exchange for the speakership and the oil ministry, among other things.
So far, the Kurds haven't put a foot wrong. I don't think they'll start now. They know what they want, and chances are they'll get it.
22-09-10
Re: from advfn.. - randalf
GKP.L
20UP
"you can put all the spin you want on it but the fact remains we have neither rig or results from Ab."
I stand by what I said just after 7am this morning. The new news we got about Akri-Bijeel was SPECTACULAR. The RNS all but told us that AB is a supergiant. Our SECOND.
What's more, it seems to contain information that will raise the OIP for Shaikan as well as having implications for the other two blocks.
If you can't see that...please sell. There will be plenty of willing takers.
(As for the delay at S-A being 'bad news' - FGS. Look at all the delays Sterling have had. We're steaming ahead by comparison.)
08-11-10
Re: Sorry if Posted
GKP.L
17UP
Mikey,
You appear to be suggesting that there's been some kind of coordinated campaign of disinformation, which is complete and utter tosh.
Who are 'they'? As far as I'm aware, several individual posters have individually reached a similar conclusion.
It is not a uniform position, which is why there have been differences of emphasis - not a 'moving of the goalposts'.
The FACT remains that there have been no OIP figures for months. The FACT remains that Shahristani has said that the KRG are withholding said figures. The FACT remains that Shahristani has been pressing for OPEC membership (most recently last week), for which he desperately needs an upgrade of Iraqi reserves.
Today's RNS changes nothing. The new government hasn't yet been sworn in, we still haven't had any OIP figures from any company for months.
08-11-10
Re: Talks finished
GKP.L
11UP
The quote "A deal has been reached" was taken directly from Press TV.
Given that it's an Iranian TV station - and Maliki is their horse in this race - it seems they over-egged their summary.
However, in the past hour it has been announced that Maliki will be making official visits of five gulf states to thank them for their support in the formation of the Iraqi government. Sounds like he's already putting entries into the diary for his next term as PM.
08-11-10
News Blackout
GKP.L
16UP
MOL have supplied flow rates but still no OIP. The blackout theory still holds water.
Interesting that there was what appeared to be a contradictory announcement last week that MOL would put out information about Bijeel-1 this week AND in the 'next few weeks'.
IMO, they have the OIP figures (and may even have a reserves estimate) but are waiting for the green light from the KRG.
06-11-10
DGA / New Acreage
GKP.L
33UP
Two potential pieces of news that aren't always mentioned in the regular round-ups:
1) DGA have said (in communication with GKP shareholders) that they are still compiling data and that there will be at least another resource report. I'm looking for a triple whammy: Shaikan-3, Bijeel-1, DGA report upgrading the whole of Shaikan.
2) There's another round of KRG contact awards in progress. The last placing took everyone by surprise - we'd been told that GKP was funded into 2011. We now have a useful war chest. What are the odds on an announcement within the next couple of weeks of new acreage?
03-11-10
Watch Vote - tick for CASIO
GKP.L
30UP
£30, tells the time perfectly, I want nothing more.
I don't need a piece of expensive, poncy jewellery. I'm not a woman.
====
Anyone been?
I could use some tips as to where to go, what to do, what not to do, where to eat, etc.
Gavxfm
The Bwana - ive been and there isnt a great deal to do - no pubs, no booze anywhere - if your going long term there are some expats there that go biking etc in the desert.
There are plenty of restaurants as thats what evereyone does cos they cant get p****d. Recommend you eat later as the restaurants are quiet early on.
I had an interview there with Kuwaitee oil co and i turned it down cos of above!
good luck
actingverystrange
freerun
Not "blinkered" at all. Simply a concerned citizen of the world.
Kuwait has an 80/20% split of Sunni Shiia population which is leading to a problem currently being played out in many Arab states as the Sunni and elitist groups are not prepared to share power and wealth with the Shiia groups. Then there is the issue of Iranian influence, only 2% in Kuwait thankfully, but meddling in the wider area and as we know Iraq.
I wouldn't recomend anyone take a holiday in the Middle East at present but meant no offense. Perhaps you haven't seen the news of late.
Best wishes
Re: O/T Kuwait City
bubblingcrude
Gavxfm,
Saudi,Libya,offshore in the gulf,where there are experienced ex-pats there is alcoholic to be fermented or distilled.You find all inredients for sale in their supermarkets so it is'nt difficult to get the beer or wine on the go.If you get really desperate buy cases of non alcoholic beer a block of yeast and your on your way.
No it was called Hillcrest - now sadly apartments.
My wife lived in Kuwait for 14 years and her sister and husband lived there for longer, running a transport business, until all 67 artics were nicked by Saddam and duly blown up on the road to Baghdad by the Americans in the first Gulf War.
They all have very fond memories of Kuwait. My father in Law was in charge of loading tankers. His last task was to load one Torrey Canyon, he then bought a hotel in Carbis Bay Cornwall. The rest is history!
I've spent quite a few hours in the Carbis Bay Hotel having worked in the village for 18 years - wonderful place.
Dalesmann
==============Dust storm disrupts UK leader Cameron's visit to Afghanistan20 Dec 2011 14:00Source: Reuters // ReutersKANDAHAR, Afghanistan, Dec 20 (Reuters) - British Prime Minister David Cameron flew to Afghanistan on Tuesday for a pre-Christmas visit to the troops but his plans to visit the main British bases were disrupted when his plane was diverted because of a severe dust storm.Cameron had to abandon plans to meet British troops at Camp Bastion and Lashkar Gah, the main British bases in the southern province of Helmand, because the weather was too poor for his huge C-17 military transport plane to land there.The plane had to divert to the NATO base at Kandahar, better equipped for landings in bad weather, where he met some of the 400 British servicemen and women based there. (Reporting by Adrian Croft; Editing by Daniel Magnowski)
==================
أفاد المركز الوطني للأرصاد الجوية والزلازل بالإمارات بأن عاصفة رملية ضربت العراق والكويت من المنتظر وصولها إلى المناطق الشمالية الغربية في الدولة في العاشرة من صباح اليوم.
وأضاف المركز- في تقرير نشرته "الإمارات اليوم"- أن سرعة الرياح المثيرة للغبار والأتربة تصل الى اكثر من 80 كيلومتراً في الساعة، ومن المتوقع أن تؤدي الى تدني مدى الرؤية الأفقية إلى أقل من 200 متر، خصوصاً غرباً.
ودعا المركز السائقين إلى أخذ الحيطة والحذر على الطرقات نتيجة لتدني الرؤية الأفقية بسبب الغبار.
وكانت الادارة العامة للطيران المدني الكويتية أعلنت أمس، إغلاق مطار الكويت الدولي امام جميع الرحلات القادمة والمغادرة لحين تحسن الاحوال الجوية السيئة التي تمر بها البلاد حالياً.
وقال مدير دائرة العمليات في مطار الكويت الدولي، عصام الزامل، لوكالة الانباء الكويتية (كونا) انه نتيجة لسوء الاحوال الجوية والموجة الغبارية الكثيفة والرياح الشديدة التي تمر بها البلاد حالياً، فقد تم تحويل جميع الطائرات القادمة إلى دولة الكويت إلى المطارات القريبة. وأفاد الزامل بأن حركة الرحلات المغادرة في مطار الكويت جميعها متوقفة لحين تحسن الاجواء.
وقال مراقب المحطات في ادارة الارصاد الجوية التابعة للطيران المدني إن الكويت تتعرض حاليا الى عاصفة ترابية تسببت في انخفاض الرؤية الأفقية الى اقل من 50 متراً، متوقعا انعدام الرؤية تماما في بعض المناطق. واضاف المراقب ان هذه الاجواء هي بسبب عاصفة ترابية مصحوبة برياح شمالية غربية تصل سرعتها الى اكثر من 50 كيلومتراً في الساعة.
وكانت عاصفة رملية ضربت العاصمة السعودية الرياض مصحوبة برياح سطحية تجاوزت سرعتها 50 كم في الساعة، وسط توقعات بانخفاض شديد في درجات الحرارة.
وحولت العاصفة الرملية نهار الرياض إلى ليل، وانعدمت الرؤيا إلى مسافات قليلة جدا، وتشهد الآن بعض أحياء مدينة الرياض زخات خفيفة من الأمطار.
وحذر الدفاع المدني في الرياض السكان من الخروج في الساعات المقبلة لأمر غير ضروري، بعد أن أدت العاصفة القوية إلى صعوبة في الرؤية في الشوارع والطرقات، كما حذر مرور منطقة الرياض من آثار العاصفة القوية التي انعدمت معها الرؤية تقريباً.
وكرر مرور الرياض تحذيراته للمواطنين والمقيمين عبر الإذاعة ووسائل الإعلام، مشدداً على ضرورة تأجيل المشاوير العادية إلى ما بعد انجلاء العاصفة، تحسباً للحوادث.
وأكد المقدم حسن الحسن رئيس مركز القيادة والتحكم بمرور الرياض أن من الإرشادات ضرورة توقف قائدي المركبات إلى جوار الطرق في حال مصادفتهم لهذه الأجواء لحين زوالها، كما أكد على ضرورة بقاء السكان داخل المنازل وقت العاصفة التي تنعدم فيها الرؤية الأفقية.
من جانبها توقعت هيئة الأرصاد وحماية البيئة بأن تشهد مدينة الرياض اليوم هطول مزيد من الأمطار، فيما دعا الدفاع المدني المواطنين والمقيمين لتوخي الحيطة والحذر واتباع التعليمات وسط هذه الأجواء المتقلبة.
وأعلن مدير عام الشؤون الصحية بمنطقة الرياض الدكتور عدنان العبدالكريم حالة الاستعداد الكامل في جميع المستشفيات بسبب موجة الغبار، وأشار إلى أهمية لبس الكمامات الطبية الوقائية أثناء الخروج من المنزل، مؤكدا أن تأثيرات الغبار على الأطفال كبيرة.
=========
Kuwaiti writer gets 7 years for sectarian tweets
April 10, 2012 01:01 PM
By Sylvia Westall
Reuters
KUWAIT: A Kuwaiti court sentenced a local Sunni Muslim writer to seven years in jail and ordered that he pay nearly $18,000 in compensation after ruling that he had insulted the Gulf state's Shiite Muslim minority on Twitter.
The court said Kuwaiti Mohammad al-Mulaifi posted falsehoods about sectarian divisions in the Gulf Arab country and insulted the Shiite faith and its scholars with comments that damaged Kuwait's image.
He was arrested in February and his comments triggered protests by Shiites, according to Kuwaiti media. His lawyer was not immediately available for comment.
Twitter is very popular in Kuwait, where many public figures use the site to debate current events, swap gossip and share news. But the public messaging site has landed several users in trouble with Kuwaiti authorities.
Police arrested a Kuwaiti Shiite last month, accusing him of insulting the Prophet Mohammad on his Twitter account. He denied this, saying his account was hacked, according to his lawyer.
Dozens of Sunni activists protested last week to condemn the man and some members of parliament called for his execution.
In September a Kuwaiti court convicted a man for insulting Gulf rulers and posting inflammatory sectarian comments online, but he was released immediately because of time already served while awaiting trial, according to a human rights activist.
Kuwaiti MPs from across the political spectrum have voiced concern about sectarian tensions. The unease reflects a wider regional trend, especially in Bahrain where the Sunni monarchy has launched a crackdown on protesters who are mainly Shiites.
Shiites make up around 30 percent of Kuwait's roughly 1 million native citizens.
Read more: http://www.dailystar.com.lb/News/Middle-East/2012/Apr-10/169782-kuwaiti-writer-gets-7-years-for-sectarian-tweets.ashx#ixzz1resOxIsX
(The Daily Star :: Lebanon News :: http://www.dailystar.com.lb)
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