Gulf Keystone Petroleum Forum

Looks like fund raising needed. I cannot see them holding £ level so I can see money being raised at 75p. This is where these are heading imoh.

This is to shake out all CFDs etc..

Last Installment for the gold cup?

We heading for double digits people

and not or.........sorry

im afraid if it drops into the 90's there will be no stopping until the 60's buy now or risk it staying above a quid.....mmmmm decisions decisions - either way its a long term hold...

Bought in at 178p - will balance the unrealised loss with a buy up if we get to sub 100p today.

Gulf Keystone (LON:GKP) has been downgraded to ‘sell’ by Canaccord after the publication of a competent person’s report on its key assets in Kurdistan. The broker said the CPR highlights a number of key points especially over its flagship Shaikan field. The target price is slashed to 100p/share (from 195p/share) with the rating now ‘sell’ from ‘hold’. “Shaikan remains the jewel, but it looks smaller and more complex than before. Oil-in place on the field is now put at 9.2 bbls (from 13.7 bbls), and the recovery factor is 11% (substantially lower than previous indications). The other assets (Sheikh Adi, Akri Bijeel, Ber Bahr) provide only slender support to the resource figure. “Shaikan itself is revealed by the CPR to be a very complex development with still plenty that is unknown, and we wonder whether the exploration-oriented GKP is best placed to carry through the field's development. “Financing too remains a concern. We estimate cash today at c.$90m, and given the ongoing drilling and little op.cashflow the coffers look likely to run very low by summer, and there is already a $325m outstanding convertible note. “Finally, we are still unclear about the long-term marketing of Shaikan crude, and we question now if the field really has the scale to appeal to a potential buyer.”

Labour's business credentials were dealt a blow in a note on the European energy market from HSBC yesterday. The bank said the decision of Centrica, British Gas's owner, to invest in the US rather than the UK has been "vindicated" by Ed Miliband's pledge last year to freeze energy prices if elected. Analysts said its shift "to higher-producing areas such as Norway and the US and away from the UK" justified its overweight rating, helping the company up 6.9p to 334.8p. HSBC also downgraded the energy provider SSE, off 8p at 1,417p, due to "increasing uncertainty about the implications of a Scottish referendum". Another day, another twist in Vodafone's attempted takeover of the Spanish cable operator Ono. After reports last week that it had tabled a second bid, thought to be between €7bn (£6bn) and €8bn, Ono's shareholders yesterday backed plans for a market listing in Madrid. The company's board are said to be still mulling the bid but it piles the pressure on Vodafone, down 5.15p to 224.4p, to up its offer. The FTSE 100 marked its fifth day of losses yesterday, down 67.12 points at 6,553.78, a five-week low. Retailers led the way down after dire results from WM Morrison spooked investors. One high street regular to make gains was the DIY group Kingfisher, up 4.5p to 407.4p, It was boosted by strong numbers from Home Retail Group, which rose 10.3p to 215.4p as it announced a sales boost at Homebase. Despite falling profits and job cuts, Numis was upbeat on Barclays yesterday, saying it is meeting regulators' capital requirements faster than expected. The bank clicked up 1.9p to 235.65p. On the mid-cap index, the online gambling group bwin.party made gains after revealing it was on track for a return to growth this year. Investors placed their chips on the table and the company rose 4.5p to 126.6p. The Aim-listed Equatorial Palm Oil,Sefton Resources and KEA Petroleum made big gains on City rumours of impending good news from the trio. Gulf Keystone Petroleum slid 23.75p to 120.25p after lowering output guidance on its Shaikan site in Iraq...

nice buying opp pre ftse today