Tony Hayward speaking at Kurdistan-Iraq

Author SpikeyDT View Profile | Add to favourites | Ignore
Date posted today 11:35
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Votes for this Posting Voted 9 times.
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The event will take place in Erbil on the 13-15 November 2011 with the full support of the Kurdistan Regional Government, the Iraqi Government and the Ministry of Natural Resources – Kurdistan. According to Kurdish Globe, the first and the only English paper in Erbil, the Region was described as "one of the last great oil and gas frontiers".

Gulf Keystone Petroleum is confirmed as Principal Sponsor; Genel Energy, DNO, Marathon Oil, Repsol, KAR Group, UB Holding & Iraq Oil, ADDAX Petroleum, Afren, OMV, OilServ, MOL, Hess, Talisman Energy, WesternZagros, Garda World and Mubadala are confirmed as Associate Sponsors for the Conference.


09-23-2011 08:12 AM CET
http://www.openpr.com/news/192982/Tony-Hayward-speaking-at-Kurdistan-Iraq-Oil-Gas-Conference.html
Tony Hayward speaking at Kurdistan-Iraq Oil & Gas Conference
Energy & Environment
Press release from: CWC Group



(openPR) - According to Kurdish Globe, as merger awaits final approval by the KRG, analyst believes that the move is ‘good sentiment for the region’.

The UK-based Vallares PLC, listed in the London Stock Exchange and led by former BP Plc Chief Executive Officer Tony Hayward, announced on 7 September 2011, its plans to merge with the Turkish Genel Energy International Ltd, the largest oil producer in the Kurdistan Region of Iraq. The value of the merger is US$2.1 billion

The UK-based Vallares PLC and former BP Plc Chief Executive Officer Tony Hayward together with Genel Energy’s CEO Mehmet Sepil, will be addressing the Kurdistan–Iraq Oil & Gas Conference.





The event will take place in Erbil on the 13-15 November 2011 with the full support of the Kurdistan Regional Government, the Iraqi Government and the Ministry of Natural Resources – Kurdistan. According to Kurdish Globe, the first and the only English paper in Erbil, the Region was described as "one of the last great oil and gas frontiers".

Gulf Keystone Petroleum is confirmed as Principal Sponsor; Genel Energy, DNO, Marathon Oil, Repsol, KAR Group, UB Holding & Iraq Oil, ADDAX Petroleum, Afren, OMV, OilServ, MOL, Hess, Talisman Energy, WesternZagros, Garda World and Mubadala are confirmed as Associate Sponsors for the Conference.

Confirmed Ministerial Keynote Speakers:
• H.E. Barham Salih, Prime Minister of Kurdistan, Kurdistan Regional Government
• H.E. Ashti Hawrami, Minister of Natural Resources, Kurdistan Regional Government

Distinguished Speakers:
• H.E. Michael Aron, Her Majesty’s Ambassador to Iraq, British Embassy
• H.E. Taner Yildiz, Energy Minister, Turkey
• Nadhim Zahawi , MP, UK Parliament
• Aydın Selcen, Turkish Consul General, Turkish Consulate , Erbil
• Qubad Talabani, Representative to the US, Kurdistan Regional Government – Iraq• Sir Jeremy Greenstock, Former UK Ambassador to the UN, Director, Lambert Energy Advisory ltd
• Dr Alirio Parra, Senior Associate, CWC Group Ltd
• H.E. Abdul Razzak Alsaady, Head of Iraq Finance Commission, Iraqi Government
• Sirwan Aziz, Senior Advisor to the Minister of Natural Resources, Kurdistan Regional Government – Iraq
• Saad Sadollah, Commercial and Business Development Advisor, Ministry of Natural Resources Kurdistan Regional Government - Iraq
• Michael Howard, Advisor to the Minister of Natural Resources, Kurdistan Regional Government – Iraq• Tony Hayward, CEO, Vehicle Valleres
• Jabbar Allibi, Former DG of the South Oil Company & Chairman of the Board of Directors, the Minister’s Former Advisor for the South Oil Fields, Iraqi Ministry of Oil
• Todd F Kozel, Executive Chairman and Chief Executive Officer, Gulf Keystone Petroleum Ltd
• Mehmet Sepil, CEO, Genel Enerji
• Magne Normann, Managing Director, DNO
• Walter Hamilton, Senior Vice President for Global Exploration, OMV Exploration & Production GmbH
• Gretchen Watkins, Regional VP for International Production, Marathon
• Michael Woltran, Senior Vice President Gas Logistics, OMV Gas & Power GmbH
• John B Gerstenlauer, Chief Operating Officer, Gulf Keystone Petroleum Ltd
• J Jay Park Q.C., Partner and Chair, Global Resources Practice Group, Macleod Dixon LLP
• Iain Wright, Associate Director, Afren
• Dr Peter Wells, Director, Neftex Petroleum Consultants
• Ben Montalbano, Senior Research Analyst, EPRINC
• Peter Worby, Iraq Country Director, AAIB Insurance Brokers
• Prof Dr Friedbert Pflüger, Director European Centre for Energy & Resource Security (EUCERS), King's College London
• Ian McIntosh, VP Kurdistan Business Unit, Western Zagros Resources

The Kurdistan-Iraq Oil & Gas Conference is organized by the CWC Group Limited.

The CWC Group are renowned world experts in oil, gas, power, telecommunications, infrastructure and investment sectors, particularly in emerging markets. We have a wealth of knowledge, offering top-level strategic events around the world.

We work closely with many governments, NOCs and international corporations to highlight the key issues and challenges facing the global energy industry. CWC operates globally and over the past 13 years, our gatherings have become widely acknowledged within the industry for their quality, prestigious level of government officials and senior corporate delegation.

Regent House Oyster Wharf 16-18 Lombard Road London SW11 3RB UK


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From Genel’s Invitation to Tender document dated 30th May:

http://www.scribd.com/doc/60773122/GEINT-LTD-Drilling-Rig-Tender-Dossier

It is possible to pick out from the tender document:

- Commencement of drilling due from the 1st September 2011, and no later than October 15th 2011.

- Genel have invited tenders for preferably a 2000 HP rig capable of drilling to 5,000m

- TD anticipated as 3,100 m

http://i56.tinypic.com/5eaam9.jpg
PPG=Pounds Per Gallon
DST=Drill stem Test
MW=Mud weight
VSP - Vertical Seismic Profile



Once the link is opened if you click on the middle of the page it gets bigger to view!

Is the spudding still due by 15th October? Jonathan Eley from Investor’s Chronicle in today’s CNBC interview appears to be saying it is imminent.

Dragon_Ventures


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Author minimini View Profile | Add to favourites | Ignore
Date posted today 09:40
Subject Keep believing folks...it will happen.
Opinion Strong BUY
Votes for this Posting Voted 48 times.
Message
Good morning all,

I don't post often but do read most posts on here good and bad. I lack allot of the technical knowledge of drilling holes and associated geology and therefor refrain from most of the discussions. I do understand where we are going though. The politics are slowly getting better and have to work. Both Malaki, Sharistani and KRG know this. For the good of Iraq and Kurdistan it has to work. Both parties will have compromises to make.

I would like to share some of my thoughts regarding GKP.
Like most here I'm a Gulf Keystone addict however some reading this may not appreciate my opinion. Thats life. I accept that.
Hopefully I can generate some Sunday morning interest and discussion here as this board has got a bit stale over last few days. The rubbish written about TK is just that. Excalibur will fizzle out also.


What I'm trying to say is, lets be more upbeat about this share as it should get exciting soon enough. This is a time to put things into perspective. How far we have come and where we are headed.

Regards to all the news we have been promised and not heard or read yet.....maybe it is being kept out of public ears and eyes for a good reason.

Maybe GKP putting all their cards on the table at once (and I mean the 3D results) not only opens them up for a early takeover but also one where the investors are not rewarded as they ultimately deserve. Also we shouldn't expect preferential treatment over II's who have invested heavily in GKP, however there will always be information leaks. Yes mates rates exist as in any walk of life. We as private investors need take that on the chin. It will be for our benefit in the end.....that is if you stick it out.

Before I go on. Thank you to all on this board. I eagerly wait your posts as much as bonobo77, scaramouch, BBBS, ginty, gramacho, hub, investor48, sandunes and many others. I'm no use remembering names but well done to you all who post their own research for others to see.

....moving on......

Dont think for one moment that GKP will accept anything less than what the company will be worth. This is reason why the cash was raised and why being a FT rated company will command a higher price. With cash and resources in production (IT WILL HAPPEN) whilst proving up more will only push that price higher. This has bought them time and a re-rating after AB sale, prior to existing drilled upgrades, production and then takeover. That to me is a further 4 re-rating moves upwards with potential of more with SH4, 5, 6, 7 , SA2 and BB results as expected.

I scoff at anything less than the £8 being touted lately and this is Shaikan alone as I'm pretty sure it will be upgraded soon enough.
In the end I will obviously accept what GKP are taken over for, however I would like to think it will be higher than this £8 figure.
GKP have taken a massive risk with investors money and will have to be compensated for this. Just look what KNOC gambled and lost recently. We have de-risked the blocks with what we have found. The presentations speak for themselves and when the 3D results eventually are made public then its very possible a first takeover move for GKP will occurr.
When it does happen and I hope not any earlier than later next year to allow for proving up resources then I would think it will occur all too quickly and some people will miss out big time. Of course the share price will have moved on by then.

Below, I will let it be known my personal investment strategy regards to GKP as this is how much I believe in this company.

I'm talking about years and years of personal savings invested in GKP. It will possibly be seen by most people as a massive gamble when I say most of it is invested in GKP. I dont see it as a gamble anymore after Vallares arrival, and reason I put my pension into GKP recently.

I insist now as I'm in my 40's my retirement fund is better controlled by me rather than some jumped up inexperienced 25 year old pension adviser who ridiculed my ability to do a better job than them after me discovering my pension made very little growth. So fortunately I have been lucky enough to gain extra cheap GKP shares with this money by transferring my 3 under-performing pensions into a SIPP and have hoovered up more GKP golden tickets in last few weeks. GKP will kick start my pension once more. Once take over occurs I re-invest in at my leisure or even it doesn't we would be sure to have years of dividends which will enhance the pension even more. I urge anyone thinking about their future to gain control of their pension and stick some GKP into it whilst they are cheap.

As and when funds become available I will add to my ISA fund in readiness for the transfer to FT250. In the meantime I will use any other spare cash into topping up to my share dealing target of 100,000 shares - (I did get in early at 13p, 25p, 35p and 53p). I more than accept I will have a hefty tax bill, however this is like buying money. My ISA and pension will cover a high proportion of tax free money.
I see no other company which is as attractive as GKP are especially in current climate. This is the chance of a lifetime share IMO and urge anyone who are getting itchy feet to hang in there. YOU WILL BE REWARDED. I also urge anyone sitting undecided and waiting for the price to drop to gain entry and start buying now as its only a matter of time before it gets massively re-rated.


I posted some time back regarding the high possibility of GKP selling off their assets one by one.
The process has already started and I would wonder if other posters think what block may be next. My thinking is it will be SA after proving up 2nd well along with 3D results.
This will then leave GKP as a company with a few billion dollars of funding to fully develop SH and BB, whilst producing from SH. At this point the takeover price will be fully justified.


I'm 100% confident in GKP and fully expect them to deliver. I have been invested here for what seems years but I'm patient just like the bloke on here the other day who put all his time and efforts into a company for 10 years lately and has sold it and invested into GKP. He is correct with what he says as "this will be the easiest money I ever make".
Me too!

Ramp over.

GLA
minyminy

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Author MrAverage1 View Profile | Add to favourites | Ignore
Date posted today 11:28
Subject out of Manchester and into the Triassic
Votes for this Posting Voted 98 times.
Message


Hello all,

Phew, where to begin ...

Initially I was in 2 minds whether to attend Manchester. When Chris G filled in for an otherwise engaged Ewen then it was a definite journey worth making. 18 months ago I spoke on two seperate occaisions with our Kurdy neighbours Hunt Oil speaking with Ken Topolinsky there based at Dallas.
Briefly, and looking back at all the old notes and scribbles Ken advised me to speak with Chris Garrett, Ken's actual words being that Chris is a genuine, decent, and highly respected kinda guy who can tell you more about GKP than i could.
Well history has proven that Chris doesn't speak with people, at least not to us pi's ---- until Thursday night.
For any GKP newbies, below is the mothballed conversation.
http://www.iii.co.uk/investment/detail?code=cotn%3AGKP.L&display=discussion&threshold=0&action=detail&id=6572240


Just like to add and elaborate a little on other excellent earlier summaries on the Manchester Presentation to the wider audience. After the Presentation several of us pi's pinned down Chris and asked various rapid-fire questions which i'll come back to later. Parts that have previously been duplicated or abridged have been either omitted here or extended with a little more hopeful detail from memory, scribblings and recollections.

From the Presentation, words by Chris, .....contents in brackets are my interpretation and thoughts.

Bekhme1 - This has reached TD and drilling has now stopped. Testing is "just about" to be commenced.

(so from GKPs 12.8% sale perspective we will now know the OIP from LWD's logging while drilling at Bekhme. Testing will tell us oil quality and flow rates at a later stage).

Shaikan4 - currently analysing the BOTTOM Jurassic zone.

(Shaikan4 appears to be a stormer), from the recent RNS = "The Sh4 net pay count is significantly higher than both Sh1 & sh2 in the upper Jurassic"

Shaikan6 will be the deepest well STRUCTURALLY. ..in Chris's own words ......"this will be the one that finds water" (OWC).

The actual deepest well will be Shaikan 7 - planned, designed and targetted for the unknown Permian. **Chris's later comment indicated they (GKP) believe there is MUCH further potential in the Permian, and NOT just from gas.

By March next year there will be 7 rigs running.

GKP may have to work with "others" on the Fishkabour pipeline. (More on this later with some new found strategic friends).

The Genel / Vallares Ber Bahr 2100 metres TD, was interestingly replied ...."If we (GKP) were the Operator there and we got to 2100 metres whils't still swimming in oil ....we know what we would do".

Interestingly, when under fire re production questioning, it took another Proactive Presenter attending namely the CEO of New World Oil & Gas to throw Chris a small lifeline by loudly commenting ......"You have all the makings with ASSETS like these of becoming a Major" !


******************************************************************************************************

Later, after the Presentation concluded myself & Gramacho together with a handful of pi's had a more private one-to-one conversation with Chris.

Firstly, I asked about the outstanding Shaikan BIRs - as we pi's believe from the AGM that the KRG have currently awarded them back to themselves and these are temporarily in a "held" position. I explained to Chris the delayed gripe was not with GKP but with the KRG. Had this been awarded then GKP could have recovered back costs of some $27 MM, this would have greatly reduced the recent need for the $200 MM Placing. ......Chris's response interestingly was "do you mean the KNOC back-in-rights. ( say no more ), and 3dgie Yes you heard correct.

Conversation swung to Sheikh Adi and my own thoughts ran to our very own visionary BBBS.
I asked Chris specifically where the SA2 well site is to be positioned. To avoid any doubt's I handed him Page 14 of GKPs May Presentation showing the SA / BB geological data diagram. Refer Page 14 below:
http://www.gulfkeystone.com/uploads/gkp-investor-presentation-may-2010.pdf

Remarkably Chris looked at the above and commented that this diagram is not wholly accurate or correct (lol) and that he uses ANOTHER DIFFERENT map based on Sheikh Adi (not so much the X-Files, more like the mega master blue print together with recent accompanying 3D seismics). Chris commented that the SA2 site is not near Ber Bahr's eastern boundary but more central to the SA block itself. Just to be certain I asked him to pin-point SA2 based on this page 14, and his finger denoted a more central position to the block itself, followed by his words ...."we will be at the opposite side of the Jurassic's hanging wall". He later added that together with 3D seismics they (BoDs) are happy this is an optimum site.

My pennies worth is now that wer'e looking most definately to be one huge continuous/contiguous on-trend structure ie, Shaikan, Sheikh Adi & Ber Bahr, then placing a well at their perceived optimum position will bring rapid value realisation to a block with an all important 80% WI irrespective of well position. ...Let Genel / Vallares do the initial honours on Ber Bahr and collectively with Sheikh Adi and Shaikan GKP will have total success in ALL blocks, ....or one massive structure if you like.

I guesstimated to Chris that Sh4 should IMO currently be around ~ 3600 metres and if so this would take us into the lower Triassic zone (new GKP virgin territory) and could he comment if oil shows are present there. Obviously he wouldn't comment on oil shows but he did confirm that we are in the lower Triassic, when pushed on oil present at this low level i asked could he at least make a postive noise or throw a tasty scrap our way. IMO his resultant positive fixed facial expression and body language said it all !!

On a personal note regarding the earlier Presentation I found Chris to be genuinely uneasy as a public speaker, (had he been got to and silenced beforehand), his trait isn't a criticism IMO he's one of natures quiet, inoffensive and unasumming types, he warmed a little afterwards and came over as a genuine and honest fella, quite refreshing when compared to others from his ego brigade. If he didn't know the answer to a question put to him contrary to his non-executive role in the Company he was honest and openly humble enough to say so, ...rather than wriggle out or detract on regardless or attempt to deffer the topic. FWIW tend to agree with Ken at Hunt Oil and like him. Let's hope as a last minute stand in for Ewen - that Ewen has bigger, better & more important fish to fry.

Interestingly, earlier on lol when under fire re flow rate questioning, it took another Proactive Presenter attending namely the CEO of New World Oil & Gas to throw Chris a diffusing lifeline by loudly commenting ......"You (GKP) have all the makings with ASSETS like these of becoming a Major " !

Conversation moved to Shaikan's permeability and matrix porosity - Gram pinned him down on this so best he reply on the matter albeit to say all was positive and echos the earlier Ryder Scott CPR report.

I asked who would be auditing and responsible for future 2P Reserves, would it be the DGA or Ryder Scott ?
Chris stated that this is likely to remain in the DGA / our hands. All other associated matters to date have been handled with no resultant fuss or problems.

Personally, I was hoping for Ryder Scott or RPS etc, oh hum. ...Priority currently still seems to be prooving up huge volumes of OIP. All drills are handled and managed very carefully and often pilotted at great additional cost. If i recall this is similar to what Jackozy was told when he attended the London shindig over a year ago.
To all intense and purposes they (GKP) are progressing and adapting along as any major would, albeit in a much smaller but evolving and accommodating way whils't making allowances for being in frontier country.

Mentioned too was the pipeline and the infrastructure production work neccessary there. Interestingly his words re pipelines ......."We have productivity plans and ideas for our blocks, these ideas are different to Sinopecs". ....This was good to hear from a strategical point of view, this confirms too what Afren let escape several weeks ago - that Sinopec will be actively involved on the infrastructure front. Or, quite possibly stage1 of consolidation.

Dalesman was sadly unable to make Manchester, he asked me to inquire about the Shaikan fracture report commisioned and carried out by a specialist independent due out Q1 2012. Chris wasn't aware of this and presumed it already being carried out in-house as such. Maybe were not the only ones kept in the dark.
3D seismics ARE OUT, they're alive and kicking, Chris remonstrated somewhat in defence of why would us pi's need to see these as they simply carry more defined closer detail.

Tut tut Chris, well for one thing it would be good to see or "hear" about the NEW 3D additional 15%, ...looks like prospective foothills land available to the south and a potential trend play to the east beyond the original anticline ALL contained within Shaikan's licence boundary, and ALL this exceeds well beyond the smaller and earlier shot 2D seismics represented on the illustration below in "green" on page 11.
http://www.gulfkeystone.com/uploads/gkpinvestorpresentation1213october2011.pdf


Note to Todd: we know Shaikans' now a giant oilfield. However, you let the cat-out-of-the-bag on the 14th Sepember and whispered that there could more to come at 8 Bln bbls of Reserves there (yes 8 Bln bbls Reserves) - no harm in throwing us pi mushrooms a tasty scrap informing us it could just be a Super Giant oil field. Lol. Wonder if this was around the same time the M&G Fund topped up with an additional 13 Million shares taking them to 61 Million.

Lastly, I asked Chris if the recent Kurdistan Upsteam rumours were correct by naming ConocoPhillips as possible participants looking to enter the North, combined with their absence in the Southern bidding rounds this would make perfect sense.

His reply ....." I haven't seen them, but there have been numerous Companies from many destinations about recently".

Anastasia who tagged along with Chris from GKPs London HQ also commented that the Vallares deal bears no sense in relation to GKPs current sp / value. Incidently the current sp is a disappointment to many at GKP including the non execs and the BoD's.

As Chris shook hands and exited I asked him if he knew the above sea level well location of Sh4. We know that Sh2 was positioned 659 metres above seal level and that Sh1 was around ~ 800ish metres above sea. I had these figures scribbled down and showed them to him, in true gent style he looked and replied ......"please don't hold me to this but from memory Sh4 is sited somewhere in the middle of these figs"

So at Sh4 at a guesstimated current ~ 3600 metres (measured depth) and allowing for a well siting of say ~ 725 metres above sea level we should be around the 2875 metre TVDSS=true vertical depth subsea and well into the lower Triassic ....this is NEW territory for GKP and for us as shareholders.

Could the Triassic just like the Jurassic is prooving - be contiguous at depth too.



Over to you Gram, ..the floor is yours.

Best of luck to you all. ..IMO hold if you can.


MrAverage1


P.S. good to see MikeyA, Gram, Niper, 3dgie, Oilman63, Dragon_Ventures and many others.


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