We now live in interesting times for Kurdistan and GKP

FULL ARTICLE . Can Gulf Keystone Petroleum Limited’s Share Price Return To 412p? By Rupert Hargreaves - Tuesday, 14 January, 2014 Right now I’m looking at some of the markets most popular companies to try and establish whether or not they have the potential to return to historic highs. Today I’m looking at Gulf Keystone Petroleum (LSE: GKP) (NASDAQOTH: GUKYF.US) to ascertain if its share price can return to 412p. Initial catalyst Of course, before we can establish whether or not Gulf Keystone can return to 412p, we need to establish what catalyst caused the company’s shares to reach this level in the first place. It would appear that Gulf Keystone reached this high at the beginning of 2012, concluding a rally that began during December the previous year. As far as I can see, this rally was driven by two factors. Firstly, there was a significant amount of speculation in the market that Gulf Keystone was about to be acquired by a large peer. In addition, it seems as if this rally was fuelled by positive exploration results from the company’s world class Shaikan oil field. But can Gulf Keystone return to its former glory? Gulf Keystone’s Shaikan oil field is widely quoted as one of the largest oil discovery’s in recent times and the company’s positive drill results, as well as initial production rates have only confirmed the fields potential. Indeed, with this huge discovery behind it, I feel that Gulf Keystone has all the foundations in place to make another run at 412p. In particular, according to Gulf Keystone’s own predictions, the company should be producing 40,000 barrels of oil per day for the majority of this year. This works out at 14.6 million barrels of oil per year, and if the price of oil remains around $100 per barrel, Gulf Keystone’s revenue for 2014 will be in the region of $300 million — not bad for the company’s first full-year of production. What’s more, management has predicted that within 18 months the company’s production will hit 100,000 barrels of oil per day, which works out at more than $700 million in revenue per year. In addition, I should mention that City analysts believe there are over 2.5 billion barrels of recoverable oil in Gulf Keystone’s Shaikan field. Gulf Keystone has an 80% interest in the field, so it would appear that Gulf Keystone’s Shaikan oil reserves alone are worth around $200 billion. Foolish summary So overall, Gulf Keystone has an interest in one of the largest oil discoveries ever and the company’s profits are set to explode during the next few years. As a result, I feel that the company can return to 412p.

Mikey: I have no idea of what the origins of this thread are and do not care. There are several of the individuals who participated in the private placement of 2003 that raised approx. $ 32 MM who read this board ( that I know of), at least one posts from time to time. A group of approx. 10 of those individuals receive their updates from me which include select posts. I performed due diligence on the private placement on behalf of two of my clients and spent 3 days in the Pittsburgh office of GKP in December of 2003. My clients invested. The minimum was $ 250k, a little rich for me. I started buying in Sept of 2004 ( or so ) after the AIM listing. The listing price, in $, was .86 vs the $ 1.00 per share that the founders paid, a disappointment for all. Most of the founders that I speak with still hold and have added, most are also fatigued but have held long enough to see I through. I hope this clears up any issues whatever they may be. Pittsburghguy ========= Very wise words Mr Dares - your comments echo my own sentiments entirely, as I'm sure they will of many other longer term holders who have taken the decision to no longer to interact with this BB. One or two of you may recall I was posting here quite regularly a while back, but I'm afraid I reached similar conclusions, and also several things have happened during the past few months, the most significant of which was an untimely bereavement within my immediate family, which have brought me to the conclusion that I don't wish to spend too many precious moments of my life on bulletin boards. Whilst it frustrates me that so much misinformation and garbage is posted with an obvious agenda to disrupt, and the temptation to set the record straight with such folk is always there, the debates I was finding myself drawn into were of little consequence in the overall scheme of things and unlikely to affect my medium term investment decisions, or indeed that of any others. However, despite not posting I remain long and strong in GKP - of course I have kicked myself for not being a smart trader but I literally haven't sold a single share. The only transactions I have undertaken are movements for tax purposes to crystallise gains in the right pot, and to move certain holdings into trusts for my children (not quite in Todd's league I'm afraid, but will hopefully see them through Uni and onto the property ladder!) Clearly as investors we have had to endure a slightly protracted wait for the outcome we desire, and whilst this has proved frustrating at times I still remain confident that we will get a result most level headed folk will be happy with. As you rightly say, the only people who will be disappointed are those who set themselves unrealistic agendas. Warmest wishes to all- let's hope 2014 proves to be a prosperous one. Dr H ================ The Times Tempus article which was posted as O/T is actually on topic because after commenting on Genel it goes on to talk about GKP. The thrust of the comment on GKP is that the most likely outcome is a bid before or after it gains a full listing. The Tempus column has a history of following GKP. It was one of the Tempus tips for the year in the year it did rather well however Tempus did suggest taking some profit in the high £3 range( advice which I unfortunately did not take!). I have some time for Tempus's views on GKP although I think his comment that GKP has " shrugged off the threat of litigation over ownership of its assets" is failing to give proper credit to GKP's resolve defeat a totally unfounded claim and to give Excaliber a total discrediting in court with indemnity costs awarded. Tempus, Goldman Sachs and a number of others are now predicting a near term bid. We are starting to see an increase in bids generally with bids for Time Warner and Goldcorps bid for another gold miner just yesterday. Todd always indicated he would sell in the early days when the time was right. We now live in interesting times for Kurdistan and GKP. =======================