Yes it’s time to post a few thoughts on the old girl. Gulf Keystone Petroleum a stock much under-valued by the market due to its geo-location, ie Kurdistan.
When will this explode? Well to all intents and purposes one could say that it already has. The meteoric rise of the gkp rocket the next super major is as we understand being planned by the company. Yesterdays RNS gave the market an update on the commissioning phase of oil export operations from its Extended Well Test facility close to Shaikan-1 and Shaikan-3. Final preparations and customary checks and tests on all elements of the process, including loading and transportation logistics, as well as metering and receiving facilities, is underway in order to enable the Company to steadily ramp up export volumes to 5,000 barrels of oil per day with an eight month target of over 10,000 bopd. GKP will provide a further update on oil export operations once the commissioning phase is complete and stabilised export volumes have been injected into the Kirkuk-Ceyhan pipeline. John Gerstenlauer, Gulf Keystone’s Chief Operating Officer commented: “Gulf Keystone is making good progress toward commencing oil exports from our Shaikan facilities at the initial intended rate of 5,000 bopd following the current commissioning phase. We look forward to delivering stabilized export volumes of Shaikan crude for shipment via the Kirkuk-Ceyhan pipeline.”
So says the company. I’d rather listen to the actual company and take their word for it than those two witless numpties masquerading as journalists over on the soon to be dissolved FTalphafools markets not very lively Blog, more fun can be had at a funeral it’s looking like a ghost town I swear I actually logged on last week and a tumble-weed drifted across the screen!
Back to the next super-major and make no mistake here GKP have had a terrific ride over the last year or so with oil discoveries amounting into the billions. The recent Jaunt over to Kurdistan for a march around the sites has been conducted to allay fears of the regional security situation and to try to get the market/brokers/analysts on side. Are they on side? Well not at present however when the oil begins to flow down Kirkuk-Ceyhan pipeline at rates of up to 10,000 barrels of oil per day then you can bet your bottom dollar that they will be. News is whispered to be on the way and it’s going to be good!