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Epic & Msn data
Epic GKP
Time: 16:35:00
Mid Price: 87.25
Change Today: 0.25 Ascending
Change % Today: 0.29 Ascending
Fifty Two Week High: 124.00
Fifty Two Week Low: 5.00
Market Capital: 432.46
Period & price data
Period Price
Now: 87.25
3 Months ago:
6 Months ago:
1 Year ago:
Additional information
Additional Information
Market: AIM
Sector: Energy
Epic: GKP
News: Latest news
Web Site: Gulf Keystone Petroleum
Other Articles: 09-03-201022-02-201018-02-2010

Crude Oil

Gulf Keystone Petroleum

Gulf Keystone is an independent company whose objectives are to explore, develop and produce oil and gas primarily in North Africa and the Middle East. The company currently has exploration and appraisal rights over six blocks and two producing fields totalling approximately 17,600 square kilometres in the Republic of Algeria. In January 2008, the company received Development Plan approval for the GKN and GKS oil fields triggering an entitlement to a share of production effective from 10 October 2007.  This is a first for Gulf Keystone marking our evolution into an exploration and production company.  The company also secured interests in two production sharing contracts in the Kurdistan Region of Northern Iraq in November 2007 and this region has the potential to be a world class hydrocarbon province.

CLICK HERE FOR FULL ANLAYSIS OF GULF KEYSTONE PETROLEUM
Monday, November 30, 2009

Gulf Keystone non-exec buys 2 million shares amid encouraging reports from Shaikan oil and gas project

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Iraq and Algeria operating Gulf Keystone Petroleum (AIM: GKP) reported that its non-executive director Jeremy Asher has purchased 2 million shares in the company representing 0.41% of its issued share capital at an average price of 94 pence per share through Asher Family Trust owned company Agile Energy.


The transaction gives Agile Energy a 2.9% interest in the company. This beneficial interest was pledged as part of the security package for a revolving credit facility for the Asher Family Trust.


The average purchase price represents a roughly 7.5% discount to the stock’s Friday’s closing price.
Gulf Keystone has performed incredibly well lately, rising from 13 pence in August to the current 106.5 pence, mostly due to the reports from its oil and gas projects in the Kurdistan region of northern Iraq.


Broker Fox-Davies Capital (FD-Capital) has recently upped its target price for the stock to 200 pence after the company announced an additional Triassic discovery from its Shaikan-1 well in Kurdistan, reporting flow rates of 10,000 boepd (barrels of oil equivalent per day), resulting in an aggregate test rate of 20,000 boepd from the Jurassic tests done in the well thus far.


Gulf Keystone has previously reported test results from the Jurassic zone, where tests indicated production of 7,000 bopd.  Therefore, the cumulative Jurassic and Triassic zones have demonstrated the potential to produce approximately 31,000 boepd. The company has discovered over 1000 meters of oil column and over 200 meters of net pay, but had only tested less than 30% of the net pay zones.


Shaikan-1 was sealed off at 2950 meters to due higher than anticipated bottom hole pressures, meaning the third exploration target in the  underlying Permian Zone will be appraised in the middle of 2010 when the company drills the Skaikan-2 well.


Shares in Gulf Keystone rose 4.5% on the news today.

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