(GKP) Gulf Keystone Petroleum

Today's Daily Mail 900 GKP or £9.OO for GKP

Make your own choice!! http://www.regtransfers.co.uk/main/searchs/searchresults.asp

Just a bit of fun.

TRI

Without any good news, really good news, being given to shareholders well prior to the 2013 AGM I cannot see any chance of major shareholders agreeing to any new "performance-related" share award for Todd this year; it's getting pretty close now.

So, the onus is on him and the KRG to throw us a bone.

"Pure speculation which will no doubt attract triple digit blue ticks. It is naive, arrogant and misleading to assume or presume that the conference was delayed to accommodate the outcome of the CC Judgement or are we to believe that Judge Clarke is being controlled by some mighty force?? Nonsense."

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Having Todd on the top table alongside the top men within the KRG and Chevron, being the operator of one of the largest onshore oil finds in the last 30 years, with a heavy oil 500k bpd pipeline for little old us and a court case over us due anytime now?

Naive, arrogant and misleading? Na - highly possible IMO.

If timing is not perfect this will be postponed. Which is what has happened. Something caused them to pull the plug. We know how much timelines shift when dealing with Iraq. The KRG are continuing to tread carefully, planning every move to the finest detail. They have to. The importance of Shaikan, for example, has global implications. From the US, to Turkey, to Iran, to Iraq. If the PKK have been made to lay down arms (which was massive), I'm sure a month delay on a conference is minute, when we have such a vitally important role within the KRG's plans.

It's interesting to note that we've had a decent rise in the share price over the last week or so and now we have the STEAM conference ready to announce a new date next week. If we have judgement over the next week or two that'll be VERY interesting...

Lets hope so. I'm bored of the 100's. I look forward to seeing the 300's again soon.

GL from NYC

Motley Fool's comprehensive rubbishing of GKP in Spring, 2009 was what inspired me to buy.(I think many of the posters had been burnt in Algeria.) I just liked the sound of the oil-shows!That said, lots of oilmen used to post there;less so since a mass defection to Stockopedia. This may not be relevant to your question, though. I'm signed up over there,but don't actually subscribe.

Hi KKO,

You are incorrect when you say I tick up EVERY post of ILs - I don't - just the ones that I read ( and I don;t read all of them by a long chalk) and which seem to contain some realistic observations.

I don't do ramping or deramping - at least, not intentionally. I just try to be realistic.

As to whether I am or am not invested at this present time - what is that to you?

Why should it make a difference to an objective investor?

Anyway, will perhaps talk later.

I've just heard that my mother, who is usually in my care but was taking a short break with one of my brothers, has fallen and broken her hip and has been taken to hospital for an elergency hip replacement.

I have just had to arrange emergency care for my disabled daughter (and that's even more difficult because of half term) and am shortly on my way to Welwyn Garden City from Cornwall.

The only reason I am responding to you now is a feeble attempt to reduce the shock element and bring some semblance of normality into my life by posting my usual carp on GKP BB while I wait to catch the train at 7.15pm.

Maybe talk later - I have a 4 hr train journey ahead of me.

PS: Seems to be a time for family concerns on GKP - best we all hold close those whom we love.

http://www.al-monitor.com/pulse/originals/2013/05/turkey-puzzled-us-exxon-krg.html

By: Tulin Daloglu for Al-Monitor Turkey Pulse Posted on May 24.

Turkish officials are dismayed hearing about US concerns that Turkey’s decision to sign an agreement with ExxonMobil in northern Iraq is perceived as a threat to Iraq’s unity. Noting that it is ExxonMobil, a US company, that is going to do the exploration work in the Iraqi Kurdistan Regional Government's (KRG) area, the Turkish side is curious why the Obama administration would want Turkey — a country that is more than 80% dependent for its energy needs on outside sources — to turn its back on newly rising opportunities in its neighborhood that will help it to diversify its energy portfolio, while giant US oil and gas companies are exempt from such criticism.

According to the Turkish side, it is primarily these giant oil companies that decide how and when these hydrocarbon reserves will come on the market, and that when they make their move it is best to be on board from the beginning. As ExxonMobil took a step in that direction by exploiting the northern Iraqi resources, Turks are saying that it is not even serious to paint Turkey as a country attacking Iraq’s territorial integrity. “We have a fast developing economy and industry.

We have a large population and we don’t have our own homegrown energy resources to match our needs to keep up with the growth,” a Turkish official told Al-Monitor. “ So what it is exactly that the United States wants us to do — that we don’t work with Russia, Iran and Iraq! So, who should we buy our energy from?”

The Wall Street Journal, however, reported on May 14, “US officials fear setting a precedent to let regional governments strike independent resource deals could destabilize [Iraqi Prime Minister Nouri al-] Maliki’s government during a time when sectarian violence in Iraq is mounting.” The Wall Street Journal also went on to write: "'Our position on energy trade from Iraq has been consistent and remains unchanged: The United States doesn’t support oil exports from any part of Iraq without the appropriate approval of the federal Iraqi government,' said Caitlin Hayden, a spokeswoman for the National Security Council."

Turkish officials, however, argue that if the Obama administration is worried about rising sectarian conflict in Iraq, they should point fingers at themselves and take responsibility as the former occupier of the country — but not blame Turkey for anything that goes wrong in Iraq. “The problem is in Baghdad, not in Ankara,” one Turkish official told Al-Monitor.

The signing of the agreements does not mean that these resources will be available for consumption on the market tomorrow. It is going to take time, and much can change in Baghdad’s relations with the Iraqi Kurds before then. “We are just watching out for our best interest.”

(Well done to Turkey for telling the hypocrites in Washington to f*** off)

Maybe, but it is completely pointless trashing someones opinion, especially when they have posted on another board. Anyway spring and Summer have arrived on the same day here in Moray. High up above Forres the views to Sutherland and the snow capped mountains on the west coast are amazing. Taps aff, pure roastin' at last.

That is most excellent news

it sounds to be as if the conference was moved to take place after GKP /CC judgement...

LOL

Regards
GRH1

Pure speculation which will no doubt attract triple digit blue ticks. It is naive, arrogant and misleading to assume or presume that the conference was delayed to accommodate the outcome of the CC Judgement or are we to believe that Judge Clarke is being controlled by some mighty force?? Nonsense
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That is one of the most sensible responses I've seen for a long time and only received two ticks.

Bright and early tomorrow, well I wont be.

Holy crapp!! I hope that the 15 billion barrels isn't just a wrinkle in the quantum fabric of space/time.

And BTW, Mandels, this is a GKP BB so please keep your creationist claptrap for another time and another place.

Such a lot of pompous people on here! So it's arrogant and misleading eh? Well, obviously you are not mislead, MC, but you feel that the rest of us are lower life forms than you and must be protected by your censorious umbrella. Twittt!

Hap

LOL! I guess Mr.WP thinks he can come back the next day and try twisting facts again.


Mandels,

Seeing as you tick up just about every one of ILS's posts and you repeatedly state you are very concerned about your fellow ex-investors, why don't you do something about it?

Remember B77's post?
http://www.iii.co.uk/investment/detail?code=cotn%3AGKP.L&display=discussion&action=detail&id=10602297

You are UK-based, considerably smart, well versed in AIM companies and you seem to have your free time back now that the move is done & dusted. How about it? We all know ILS is all negative talk and no action but if you are genuinely so concerned about GKP to be here non-invested on a BH WE, why not buy one symbolic share and do something to help B77? It won't talk that much effort and earn you lots of kudos.

Honestly, this is not sarcastic, think about it over the WE before responding.

Enjoy the rest of the long WE,

KKO

yep but you are affected by GRH's statement, which shows you are not an independent man. Chill, if you read something you don't like, ignore and carry on with your own agenda, and if your agenda is to have a go at the bulls , then I apologise....

I've kept this request short so anyone can flick to the next point without wasting valuable time.
What I would like to know is how many (if any) board members subscribe to Motley Fool and what is your opinion of their opinions?
Thanks in advance for you comments.

"It is naive, arrogant and misleading to assume or presume that the conference was delayed to accommodate the outcome of the CC Judgement"

Makes total sense to me.

When I say pay the CEO, I mean pay the board!

Albeit that most of the awards are to TK in any event.

Miny,

As it is shareholder money with which TK has "rewarded" himself through the Rem committee, are you honestly happy with 10% of your holding being used to pay the CEO to date? Or would you rather have had that 10% used to develop production capability or further exploration?

Would your view on this change if you had bought in at say the £1+ mark in 2009, rather than the 9p+ mark?

While that line of questioning is admittedly academic as we cannot change the past, this for me at least, goes to the core of the issue with GKP's management and lack of value creation for shareholders since 2009.

In my view, TK appears so keen on lining his own pockets, he may be forgetting his fiduciary duty to ensure shareholder value first and foremost.

Which is why as a shareholder, I would like either an incredibly strong and well connected Chairman, or, TK gone.

Him staying in as is(CEO+Chair), is in my view at least, wholly unacceptable.

Again, in my view, now that GKP are where we are, with the move to production apparently underway, with PWP in to negotiate with purchasers and political developments moving in the right direction, we need professionals in charge, not cowboys.

Which is why I believe that TK's time is done.

Let alone listing the litany of errors of judgement and decidedly smelly dealings which TK appears to have been instrumental in and the bad press this attracts.

One can't rest on past glories forever and the fug surrounding TK's presence is noticeable.

ILS

That is most excellent news

it sounds to be as if the conference was moved to take place after GKP /CC judgement...

LOL

Regards
GRH1

Pure speculation which will no doubt attract triple digit blue ticks. It is naive, arrogant and misleading to assume or presume that the conference was delayed to accommodate the outcome of the CC Judgement or are we to believe that Judge Clarke is being controlled by some mighty force?? Nonsense.

nlper,

Over 10% of shares in issue would have paid for a lot of infrastructure. It would have paid for our pipeline spur. It would have paid for a number of either exploration and production wells.

Instead it has been snuffled away by our very own vampire squid; TK. His tentacles stuffed into the orifice of every shareholder.

No wonder so few of them on here can see or hear what's happening.

It's why I hope Capital Group were acquiring shares under their own fund management team and not on behalf of someone else, or dare I say it, the facilitators of a certain financing arrangement? The timing and share quantity is somewhat in line.

We need II scrutiny and involvement in GKP's governance. Another PI spring may help, but it needs both, as per the Truscott issue, to have an impact.

There are too many people on here who like TK's tentacles where the sun doesn't shine for this board to be an appropriate place to muster such an effort however.

ILS

Who said that?

We all expect to be rewarded by holding on to our gkp shares. But many of us are concerned that we do not benefit as well as we ought to given the sheer quality of our assets.

I have always been against public slaying of the BOD of GKP and Todd.

I happen to believe he has earned his wage packages along with the BOD up till now!!?

This years pay awards will be scrutinised more than ever and understandably so given the sp performance and the lack of progress in other areas.

Most of us probably want a straight takeover of gkp, we do not know what Todd wants?

The exit awards ensures he gets his rewards but I now doubt whether we as PIs will benefit anything close in our handouts.

If Todd had his wage package severely reduced then he would at least have an incentive to create value, As things stand his wage structure is an enticing. Incentive NOT to sell GKP inits entirety.

All IMHO. Miny

Niper

I can only see you talking to yourself on this thread

Have you fallen into a Trolll Trap?

A

"But have HSBC found any oil? "

Oh dear where does anyone start from this.

Novice: "Sarcasm doesn't suit you nlper!!!"
---------
Oh dear. That's at least half my posts gone.

JaneB,

Last year, when GKP announced Todd's salary, including cash bonus, share bonuses and options from a total of 6 or 7 different schemes, awarded, vested, taken, plus the exit awards, I thought Wow, that's a LOT. But I didn't have the comparisons to other AIM oilies.

Yet, you know when something is so complicated, that you wonder if it's hiding something?So I put all the schemes into a spreadsheet and what I was looking for stood out, obvious once you've seen it, it was the total, 81m shares (bonuses and options),  10% of shares in issue.

Then the annual report was published. In the year that we made local sales for the first time, I was expecting/hoping for a reduced loss.  But the loss had grown, allowed to escalate from 36m to 62m, with three quarters of the increase being down to the INCREASED cost of the bonus scheme.

It was that that made me want to do something. The asset is immense, but at £1.40 a share both this year and last June, Todd has successfully monetised GKP for himself and, to a lesser extent, GKP's employees, whilst shareholders  have little or nothing since 2009.

This year though, things are a little different.  

- Todd's pay has simply not been announced, not to PIs anyway. 
- Impact on the P&L? Can't see it as Annual Results have been put back. 
- AGM in Bermuda (they have to, oops , no, sorry, they don't have to, they thought it would be nice)

So no data on which to base a resolution and, for me at least, no possibility of attending the AGM.

In fact, his nominal salary for 2011 was OK, at $675,000
Then add in cash bonus $2.75m
Then add in share bonus $18.8m  (4.6m shares)

Well he's already taken 5.9m bonus shares this year (RNS 26th Feb) but the price is lower, so his pay will probably be much the same as last year.

So, I do take it seriously, but it's for someone else to take it on this year.

nlper

I heard HSBC indirectly discovered a number of the largest oil fields in the world over the last few years - Stuart Gulliver is seething at the pay revolt as he is sure that discovering, exporting, refining and distributing the sheer volume of petroleum products that they have under the influence means he should be in line for a £1 billion pay award.

Or so I've heard.

I may be wrong though, so DYOR.

Exploitistan

Niper,

I didn't realise HSBC were a young oil exploration company?

Where do they operate?

"A Holographic Universe?

Are we actually living in a holographic universe? Are the distant galaxies only a virtual illusion? In a hologram, distances are synthetic! How does this impact our concepts of time and space?

There seems to be growing evidence to suggest that our world and everything in it may be only ghostly images, projections from a level of reality so beyond our own that the real reality is literally beyond both space and time.1
The Cosmos As a Super-Hologram?
An initiating architect of this astonishing idea was one of the world’s most eminent thinkers: University of London physicist David Bohm, a protégé of Einstein’s and one of the world’s most respected quantum physicists. Bohm’s work in plasma physics in the 1950s is considered a landmark. Earlier, at the Lawrence Radiation Laboratory, he noticed that in plasmas (ionized gases) the particles stopped behaving as individuals and started behaving as if they were part of a larger and interconnected whole. Moving to Princeton University in 1947, there, too, he continued his work in the behavior of oceans of ionized particles, noting their highly organized overall effects and their behavior, as if they knew what each of the untold trillions of individual particles was doing.

One of the implications of Bohm’s view has to do with the nature of location. Bohm’s interpretation of quantum physics indicated that at the subquantum level location ceased to exist. All points in space become equal to all other points in space, and it was meaningless to speak of anything as being separate from anything else. Physicists call this property “nonlocality”. The web of subatomic particles that compose our physical universe—the very fabric of “reality” itself—possesses what appears to be an undeniable “holographic” property. Paul Davis of the University of Newcastle upon Tyne, England, observed that since all particles are continually interacting and separating, “the nonlocal aspects of quantum systems is therefore a general property of nature.”2
The Nature of Reality
One of Bohm’s most startling suggestions was that the tangible reality of our everyday lives is really a kind of illusion, like a holographic image. Underlying it is a deeper order of existence, a vast and more primary level of reality that gives birth to all the objects and appearances of our physical world in much the same way that a piece of holographic film gives birth to a hologram. Bohm calls this deeper level of reality the implicate (“enfolded”) order and he refers to our level of existence the explicate (unfolded) order.3 This view is not inconsistent with the Biblical presentation of the physical (“explicate”) world as being subordinate to the spiritual (“implicate”) world as the superior reality.4
The Search for Gravity Waves
Gravitational waves are extremely small ripples in the structure of spacetime caused by astrophysical events like supernovae or coalescing massive binaries (neutron stars, black holes). They had been predicted by Albert Einstein in 1916, but not yet directly observed.

GEO 600 is a gravitational wave detector located near Sarstedt, Germany, which seeks to detect gravitational waves by means of a laser interferometer of 600 meter arms’ length. This instrument, and its sister interferometric detectors, are some of the most sensitive gravitational wave detectors ever designed. They are designed to detect relative changes in distance of the order of 10-21, about the size of a single atom compared to the distance from the Earth to the Sun! Construction on the project began in 1995.
Mystery Noise
On January 15, 2009, it was reported in New Scientist that some yet unidentified noise that was present in the GEO 600 detector measurements might be because the instrument is sensitive to extremely small quantum fluctuations of space-time affecting the positions of parts of the detector. This claim was made by Craig Hogan, a scientist from Fermilab, on the basis of his theory of

Guys what ever is decided Im sure the legal beagles and accounttans on this BB wil do what is best for Dreambuilders family , Im 100 % in what ever the outcome is.

also thanks for the kind words .

Stef on a sunny day chilled out.

totally agree with your choice of oilman cooky

Hi Stef,

It seems to me that you are a fantastic example of how to take responsibility for one's life and not adopt a victim mentality, regardless of how horrible one's early years may have been.

Taking responsibility for oneself is so empowering - it allows one to change one's present circumstances through how one reacts to them, whereas the victim mentality just complains about what has been done to it by others and by past circumstances; and since it is not within the individual's gift to change either, it leaves the victim totally disempowered and at the mercy of all future adverse circumstances and experiences.

I know of a brother and sister who both endured pretty awful childhood experiences. The sister shrugged them off and left them buried in the past and made a good life for herself, whilst the brother never stopped explaining away his poor decisions and everything that went "wrong" in his life, on his wretched childhood, as though he was absolutely powerless to do anything but succumb to all the carp the world chucked his way.

He is now a miserable and unfulfilled and bitter old man with never a good word to say about anyone or anything, whereas his sister is as light as a butterfly and thinks only good of everyone she meets. and makes the best of every circumstance that comes her way.

The difference in how their lives were lived and how they have turned out in their old age, is astounding - but it is entirely due to how they respectively dealt with their lousy beginnings.

You have my admiration and respect for overcoming some really adverse beginnings and following circumstances, and turning out to be such a decent chap and one who so obviously appreciates his family and works hard to support them in every way possible.

Kudos.

And very best wishes for the future.

Very few people on this board seem to want to take it on board that Kozel is having it both ways. Yes, he went into Kurdistan, yes he got the contracts, he has had and has interests in shares and options which recognise those actions which happened several years ago now. He will (as a shareholder and, rightly, like other shareholders) make a lot of money if and when GKP becomes profitable and the shares increase in value or the company is taken over. However, his pay for the job of CEO is distinct from that, it's what he is paid for the job and ought to be in line with other CEO's of, not HSBC but, rather, other start-up, loss-making, high-risk ventures. By any measure, his pay as CEO of this loss-making company, years away from being profitable and cash-generative, is way over the top, I'd say by a factor of 10. We really need to start being serious about this.

glacier mog...glacier. Would love it...

KKO....that's me...Cooky.

I suggested a fund raising for DB, but although I got some sort of positive vibe, I am not sure who really wants to support the reigns being taken up. The basic stuff I can do is drop DS a mail, set up a JGiving page and let it roll...which seems a bit basic and without thought imo.

Reading your info is what I was getting at over the last couple of days. there may be better ideas from people out there. I was wondering if Oilman knew of a method of co-ordinating something in the right way. I really think it does need a face to face, but I don't have that knowledge of who DB was and how to move forward.

A few of us could take this offline. Would be good if Oilman was involved, purely as he has a galvanising persona imo...but it is a personal choice.

Anyone else...please feel free to contribute ideas, but this seems to need a Skype conference, rather than just random posts on here in cyber land.

Cooky (aka Mike)....or is it the other way around.

"Kurdistan would command more respect and support from the international community if she went ahead and declared independence than this cat and mouse game which can go on indefinitely"

Does anybody really want this to happen, or even believe that it could happen without civil war?

Complete and utter madness - GKP would be back to 10p.

Hoofuckingray!

mt

@hairycapers: May I ask you to look at this video on youtube: <a href="http://www.youtube.com/watch?feature=player_embedded&v=MkiX0jJJozk" target="_blank">Linky</a>

It is work safe - well it is the weekend now but it will eat up two very interesting hours of your weekend.

tbo,

I am not too keen on a partial sale - much rather see a sale lock stock and barrel.

If TK can get between 8-12 quid a share I reckon he will have done well - 6-8 quid disappointing but would take it.

Stef,
I just wanted to say you've always struck me as a seriously good bloke, from your unbelievable honesty to your tireless work at the court case. After a week like this it's fantastic to hear people wearing their hearts on their sleeve a bit.
Don't go changing mate

Oh it's a hard life - lol !

Enjoy.

I'm off to get the boat in shape for the summer, the pistes are long gone.... The Vin cellar will take a beating

Cheers Victor

Le Mog