Gulf Keystone Petroleum Limited (GKP) is an independent oil and gas exploration and production company with operations in the Kurdistan Region of Iraq - where Gulf Keystone has made one of the most significant discoveries, holds one of the largest licence positions and has amongst the best pre-drill upside in its acreage.
Gulf Keystone Petroleum Price and Volume
Previous Close: 154.00p* (real time prices at ADVFN) Previous Range:147.25 - 153.025* Previous Volume:1913898 shares (down on average)* Trading:below the 50 day M.A. (223.021) & below the 200 day M.A. (211.231)*
A Kurdish peshmerga fighter plants the Kurdish flag on top of a hill in the disputed territories. (KAMARAN NAJM/Metrography/Iraq Oil Report)
By BEN LANDO, PATRICK OSGOOD AND BEN VAN HEUVELEN of Iraq Oil Report
Published Wednesday, June 19th, 2013
Iraq's autonomous Kurdistan region has confirmed that a Turkish company will develop six oil and gas exploration blocks, including two in disputed territories the latest sign that a highly anticipated and controversial bilateral energy deal with Ankara is moving forward.A new map published with the cooperation of Kurdistan's Ministry of Natural Resources (MNR) names a "Turkish entity" as the operator of two blocks in disputed territories in Ninewa and Salahaddin provinces as well as four... By pathai
June 18, 2013 (SNM-TSXV & NASDAQ OMX-SNM) ShaMaran Petroleum Corp. ("ShaMaran" or the "Company") is pleased to report that at the Companys Annual and Special Meeting held today in Vancouver, shareholders approved all of the resolutions put forward at the meeting, namely:
1. Received the consolidated audited financial statements of the Company for the year ended December 31, 2012;
2. Appointed PricewaterhouseCoopers LLP, as auditor of the Company for the ensuing year and authorized the directors to fix their remuneration;
3. Fixed the number of directors at six (6);
4. Elected Keith Hill, Pradeep Kabra, Brian Edgar, Gary Guidry, Alexandre Schneiter and J. Cameron Bailey as directors for the ensuing year;
5. Approved the Companys incentive stock option plan; and
6. Approved a special resolution authorizing an amendment of the Companys Articles to include advance notice provisions with respect to election of directors.
ShaMaran Petroleum Corp. is a Kurdistan focused oil development and exploration vehicle with a 20.1% direct interest in the Atrush Block located in the region. This project is nearby and on trend with existing fields and recent discoveries.
Kurdistan lies within the northern extension of the Zagros Folded Belt. The area is highly underexplored and is currently undergoing a significant exploration and development campaign by over 40 international oil companies.
ShaMaran Petroleum is a Canadian oil and gas company listed on the TSX Venture Exchange and the NASDAQ OMX First North Exchange (Stockholm) under the symbol "SNM".
This press release contains statements about expected or anticipated future events and financial results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as legal and political risk, civil unrest, general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events and managements capacity to execute and implement its future plans. Actual results may differ materially from those projected by management. Further, any forward-looking information is made only as of a certain date and the Company undertakes no obligation to update any forward-looking information or statements to reflect events or circumstances after the date on which such statement is made or reflect the occurrence of unanticipated events, except as may be required by applicable securities laws. New factors emerge from time to time, and it is not possible for management of the Company to predict all of these factors and to assess in advance the impact of each such factor on the Companys business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information.
On behalf of the Board,
President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
ShaMaran Petroleum's Certified Advisor on NASDAQ OMX First North is Pareto Öhman AB.
FOR FURTHER INFORMATION PLEASE CONTACT:
ShaMaran Petroleum Corp.
ShaMaran Petroleum Corp.
President and CEO
0041 22 560 8605
ShaMaran Petroleum Corp.
(604) 689-4250 (FAX)
Couldn't GKP put itself up for auction? Maybe with a reserve of some sort. The Turks, French, Italians, British, Russians, USA, Chinese, Indians, Japanese... Just to name some of the more possibilities. Let the winner take all!
Isn't it the duty of the board of directors to maximize shareholder value? If our share price does not rise substantially in the near future... Shareholders need to push for the immediate sale of the company via an auction process initiated by our very own BOD!
I've been here four years now, and I am weary of all this. One way or another... I want this monetized. I am so frustrated now, I would take 5lbs tomorrow,but tomorrow only. In 2 months this would be 6lbs...
January, 2014. 8lbs
March, 2014. 10lbs
You get the idea. If this takes two more years... I would certainly expect 15lbs. Sorry guys, I am from the USA, typing on my IPad, and don't have a pound sign.
I don't think I would feel so beat up if the SP would have risen steadily over the last two years, so you would feel like you were getting to your final SP goal.
People on this Board have mentioned TPIC which is owned by BOTAS. Great news as BOTAS manage the export pipelinesnow Hawrami needs to speak out tomorrow
Newly BOTAS-owned Turkey oil firm seen boosting foreign presence
UPDATE 2-Iraqi Kurds defend oil policy, reject BP Kirkuk deal
Fri, Jan 18 2013
UPDATE 4-Bombers kill more than 35 across Iraq
Wed, Jan 16 2013
UPDATE 2-Turkey's PM Erdogan says won't bow to Kurdish militancy
Tue, Jan 15 2013
Founder of Kurdish PKK among three women slain in Paris
Thu, Jan 10 2013
UPDATE 2-Defiant Kurds to truck more crude to Turkey-Genel
Wed, Jan 9 2013
Analysis & Opinion
Oil and the Delta Bush
Islamists push own agenda in Iraqs Sunni protests against Shiite power
Tue Jan 22, 2013 5:28am EST
* Move seen paving way for projects in northern Iraq
* TPIC capital to be increased to $500 million
* Turkey, Iraqi Kurdistan building ties amid Baghdad tension
By Orhan Coskun
ANKARA, Jan 22 (Reuters) - Turkey will increase the capital of the state Turkish Petroleum International Company (TPIC) and transfer its ownership to state energy company BOTAS in a move seen boosting foreign activities, particularly in northern Iraq.
The cabinet agreed to increase TPIC's capital to $500 million from $150 million and transfer its ownership from state oil company TPAO, Turkey's Official Gazette said on Tuesday.
Analysts said BOTAS' established name abroad and its experience in energy projects would increase the ability of TPIC, which has authority for foreign exploration and production of oil, to participate in projects abroad.
Ankara has been building on its trade and economic ties with Iraqi Kurdistan at a time of growing tensions with the central government in Baghdad.
In November, industry sources said an unnamed new Turkish oil company was in negotiations to acquire several blocks in Iraqi Kurdistan in a joint venture with at least one foreign oil major and the Kurdistan Regional Government.
Autonomous Iraqi Kurdistan has already signed deals with oil majors like Exxon Mobil and Total, defying the central government in Baghdad which says only it has the right to sign contracts for Iraq's oil resources.
Kurdistan says its right to sign oil deals is enshrined in the constitution. But Baghdad says those agreements are illegal and has warned companies they will be blacklisted from Iraq oil opportunities if they sign accords with Kurdistan.
Oil majors see better terms, security and an easier working environment in Kurdistan compared with tougher service contracts and difficulties with red tape, bureaucracy, and infrastructure bottlenecks that hit oil projects in the rest of Iraq.
Turkey's TPAO operates in southern Iraq but does not have any official operations in Kurdistan.
Political tensions between Baghdad and Ankara have been running high after Turkey accused Iraqi Prime Minister Nuri al-Maliki of sidelining Sunni Muslims in Iraq since the onset of a political crisis after U.S. troops left in December 2011.
The TPIC capital increase will be paid for from TPAO's shareholders' equity in a cash lump sum.
More From Reuters
Common solvent linked to liver cancer risk |Jun. 06
Nikkei advances on gains in defensive stocks, crawls out of |Jun. 16
Dana-Farber: Why Vaccinate Children Against HPV? |Jun. 07
Chinese man gets 12 years in U.S. prison for selling $100 |Jun. 12
Novo Nordisk hit by near $1 billion transfer pricing tax |Jun. 10
From Around the Web
On-Board Camera Catches Devastating Missile Strike Yahoo!
Watch What Happens When Dog Eats A Lime Yahoo!
What could add 15% to Japans GDP? Goldman Sachs
10 costly pension mistakes millions of Britons make Hargreaves Lansdown
The Surprising Relationship Between Big Data and Healthcare Intel
Videos From Reuters
Agreed buriram9, the chatter on here re a rough guide on when the verdict will come being deemed as 'price sensitive' is nothing short of staggering. My mother in law is pretty lofty in the magistrate world and whilst I appreciate it's a different level of law she agreed that by saying roughly when a decision is expected is neither here nor there.
Now we have a guide of late July OR before 23rd Aug (latest) we can all reset our expectations and as a result hopefully this board can return to normality.
old yes - any less true ?
Answers on back of envelope.
TSC - this board has morphed from parallel to surreal.
Next thing we'll have Macbeth forecasting imminent multi billion pound takeovers and a knighthood for TK.
By Chocolate Chip Cookie Tue, 18 Jun 2013 21:05:00 GMT
Iraqi Kurdistan gives Turkish company six oil exploration blocks
ISTANBUL, June 18 | Tue Jun 18, 2013 4:48pm EDT
(Reuters) - Local authorities have given an unnamed Turkish company licenses to explore for oil in Iraqi Kurdistan, according to a report, a move that could anger the central government in Baghdad already worried about the region's growing independence.
The report, co-published by The Oil & Gas Year and the autonomous Kurdistan Regional Government (KRG), is the first official confirmation of the deal. It said a company described only as "a Turkish entity" was given stakes in the Choman, Hindren, Arbat, Pulkhana, Jabal Kand and Khalakan blocks.
Resource-hungry Turkey and neighbouring Iraqi Kurdistan, rich in hydrocarbons, have been negotiating on energy since last year. However, the central government insists it has the sole authority to sign energy deals.
A Turkish Energy Ministry official declined to comment on the report published by Istanbul-based The Oil & Gas Year. A source at state company Turkiye Petrolleri (TPAO), Turkey's main oil exploration company, denied his company won the licences.
The Turkish entity will have 80 percent stakes in the Choman, Hindren and Arbat blocks, the report said.
Choman and Hindren are contiguous sections on the border with Iran, and Arbat is in the southeast near the city of Sulaymaniyah and has had some seismic work completed.
The entity will hold a 40 percent stake in Pulkhana in the south, where eight wells have been drilled, and Jabal Kand in the west. It is expected to be given a 40 percent stake in the Khalakan block in the east of Iraqi Kurdistan, the report said.
The ease of extraction and favourable production-sharing terms have attracted majors such Exxon Mobil Corp, Chevron Corp and Total SA to the Kurdistan region, despite threats of blacklisting from Baghdad, which considers the KRG contracts illegal.
The central government's refusal to pay for exports from the north has sharply reduced shipments, which are currently made overland by truck to Turkey.
Resolution of the dispute between the regional capital Arbil and Baghdad is essential if the Kurdish region is to reach its export goal of more than 1 million barrels of oil per day in by 2015. By Chocolate Chip Cookie
* Charts, price and volume data provided by the mighty Yahoo Finance may be delayed by up to an hour.
For the love of all things velvet, please always check financial data from more than one source before entering a trade. For live prices scoot on over to Share Price. If you know what's good for you, you'll check out: LSE Soirée, Investor Trader, DOW follows FTSE and AIM Shares Compared. Our cocktail of the day is Gimlet Fizz - a snappy, gin-doused number that'll take out a vital organ given the chance.
posted earlier, was it posted on here ?
email sent to Pathai - iii
Whitehead, David (RCJ)
16:19 (7 minutes ago)
The judgment in the case of Excalibur LLC v Texas Keystone and Others will not be handed down in June. The current expectation is that it will be handed down at either the end of July or, failing that, before the 23rd August.
At the end of the trial the Judge indicated that the judgment would be “some months”. That estimate has not changed. The judge does have other duties which do, from time to time, take him away from writing the judgment.
I cannot enter into correspondence concerning any other aspect of the trial. There is no need to reply to this email, further emails will not be responded to.
Once the judgment becomes publicly available you will receive by email either an electronic copy of it or a link to it on the web.
Clerk to Mr Justice Christopher Clarke
020 7947 6296
06lol interesting strategy, must admit I feel on the brink of selling..
but seems pointless having come this far
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~It's called tree shaking.
I and possibly hundreds of pi's are caught up with the same feelings. To sell or not to sell?
Well, i have figured it this way...firstly the mm's will be rubbing their hands with glee at all the
pi's that are in fact selling at a loss, while many more are still holding at good paper profits.
The 'spoilers' the derampers also want you to sell so as to trade GKP which seems as though
they are, what with the yoyo-ing of the sp? Some just want in at the lowest possible price
The general concensus is largely positive, so i ain't selling UNLESS we get bad news overall?
The more we get smashed by the spoilers suggests to me that there really is a lot of interest still, in GKP.
So, until we get official doom and gloom by way of an RNS then i'll be topping up on the dips. When GKP was trading at 180p I began topping up and i really thought i had over bought. Since then i have tripled my holdings
and plan to buy even more...after all, there will be no problem selling even at a small loss if i had to dump them quickly. In fact at today's price of 151.5p. i'd be a few grand up if i sold now.
Listed to your inner feelings and think uppermost -billions of barrels of oil...somebody out there wants it...AND they'll get it sooner or later. Even if we lose the CC, GKP is worth billions with more to come, imo
Just chill....watch and read things are on the move. :-) and like everyone say's, not that it matters one bit IMHO.
There are some good people on here, and I would like to meet them. But work and family normally stop me going to the meets....
Youre a wise man mate. Theres nowt to say here really anymore. Come back in 2 months eh. The merry go round continues, until the KRG are in a position to sell the regions oil. Not long now. CC, PF1, pipeline. All coming to a head in late Q3. Lovely.
Round and round on circles we go
Round and round in circles we go
Jeez I really would like to hear what the issue is that you have, and that's an honest question. ..
Evening Chand ... ;-) keeping my head down reading and watching
I don't see that as bad news. The KRG can do their own thing and set their own targets for 2014. GKP alone plan on 150k a day by then. As long as we are exporting and getting paid, I dont see how it matters that Baghdad isnt including KRG oil in their numbers.