Gkp- Gulf Keystone Petroleum

[lukese]

and at the end of the 20 days if your down by say £200 whats the deal with "rolling" it over as you said?

sounds intresting as wana get back into trading but aint got the spare cash around but got around 15k of gkp sitting there that i dont wana touch, so could T20 other stuff, can you end early also?

Cheers

[evilsatan]

You can close it when you like, apparently you can call TDW to roll over for a further 20 days but I usually close then open a new one, you can roll over whether you are in profit or not as they make money through commission on the deal execut1on. TDW only let you use half of your credit on a single share but you can use your personal allowance across two if you like, I assume this is to offset risk by reducing exposure to a single company.

[hxbro]

and at the end of the 20 days if your down by say £200 whats the deal with "rolling" it over as you said?

sounds intresting as wana get back into trading but aint got the spare cash around but got around 15k of gkp sitting there that i dont wana touch, so could T20 other stuff, can you end early also?

Cheers

The amount of "credit" you get is based on your trading history, amount invested with them, and any cash you haven't invested. You'd need to move the GKP over them them to get anything good. Unfortunately you can't just open an account with them and get access to 5k worth of credit.

[lukese]

The amount of "credit" you get is based on your trading history, amount invested with them, and any cash you haven't invested. You'd need to move the GKP over them them to get anything good. Unfortunately you can't just open an account with them and get access to 5k worth of credit.

Yeah the 15k gkp is with TD waterhouse so should be ok?

[hxbro]

OK, to see how much you can buy on a t20:

login, go to trading->place an order there should be a line:

Personal Trading Level: £xxx

This is the amount you can have on credit, that doesn't need to be funded until 20 days.

Now enter your stock symbol, for example if I enter RRL, the realtime quote box shows the quote on the right, at the bottom of the box I have an available spend - this is the amount you can spend on one particular stock on the t20. In my case, I have a trading level of 441.36 but my available spend for RRL is only 176.54, this is because I already have a t20 with RRL.

If I enter BMR, I can use the full 441.36.

See what you get and then work out what you want to use.

[lukese]

i get 0.02p haha! how do i sort this out? i got 18k worth of shares with them in total so surely im good for a bit of credit! has anyone had to call them up before to sort this out or havfe u just had the credit there all the time?

this makes sence now as well as when i sell shares to jumpo in on somethign else i allways miss out as i havce to wait a day for money to show in my trading account, might call em and threaten to move, anyonje else do these t20's?

[hxbro]

It automatically appeared for me, I don't have a lot invested in that account either, only 1.5k worth of cash, and today I got the £400 quid offered to me (which has gone on BMR). I've only done a few trades with them too.

[hxbro]

i allways miss out as i havce to wait a day for money to show in my trading account, might call em and threaten to move, anyonje else do these t20's?

I haven't sold yet, but from what I've read on forums with tdw is it takes a few hours before the money can be re-invested after a sell (never tried it myself so can't be certain). With my iii account it's usually straight away, but you only get a T3 with them.

[lukese]

It automatically appeared for me, I don't have a lot invested in that account either, only 1.5k worth of cash, and today I got the £400 quid offered to me (which has gone on BMR). I've only done a few trades with them too.

ill call em up tommorow, got alot on today, if anything ill say a friend only has 1.5k invester and got offered 400 whats the deal there.

thanks for the info.

Luke

[evilsatan]

I don't have cash on account, just shares and I have about 50% of their value as personal trading limit. Only been with TDW for a few months, never requested it so just give them a call and ask about it.

[lukese]

yeah dont get it, i recon it could be to do with the fact i was with hoodless brennan, they where a lot better, but where bought out by tdwaterhouse, i get cheaper trades than the ones advertised also part of teh take over package all hoodless brennan customers had to keep there deal. might be a case of paying £1 more a trade and they will give me the limit maybe?

worth a call anyway, you earn much on the T20's?

[evilsatan]

Made £600 last month but had lost over £750 since I rolled over so it's swings and roundabouts. I use it as a way of holding more shares rather than for trading.

As for GKP, good news today. Looks like the KRG are receiving payments from Baghdad to forward to firms shortly:

Kurdistan PM Expects Iraq to Start Paying Foreign Companies
By Nayla Razzouk - Apr 11, 2011 5:19 PM GMT

Iraq’s Oil Ministry should pay foreign companies working in Kurdistan after having received oil export statements from the semi-autonomous province, said Kurdistan Regional Government Prime Minister Barham Salih.

The KRG has presented the federal Finance Ministry with an oil export statement for the delivery of more than 5 million barrels of oil since shipments resumed Feb. 3 after a halt of more than a year, he said in a release on the KRG website.

“The KRG expects to receive from Baghdad its first payment for the Kurdistan Region contractors, as previously agreed with Prime Minister Nuri Maliki,” he said. The KRG also received a draft of the oil and revenue sharing law for its review, he said.

The Kurdish authorities had angered the central government by signing their own production agreements with foreign companies such as DNO International ASA (DNO) of Norway and Turkey’s Genel Enerji AS. The Oil Ministry refused to recognize these contracts, and exports of Kurdish oil that began in June 2009 ended a few months later amid a payments dispute. The foreign companies are still owed $400 million to $500 million in unpaid revenue.

About 115,000 barrels a day of oil is currently being pumped from Kurdistan for export through a pipeline to the Turkish port of Ceyhan, Iraqi Deputy Prime Minister Hussain Al- Shahristani said in Paris on April 6.

More Facilities

The KRG is ready to discuss with the central government the construction of new pipelines and facilities to export more oil and natural gas to Turkey and Europe, Salih said in the statement. The Iraqis were in discussion with Turkish authorities over details of plans to ship oil from the southern Iraqi provinces to Turkey and Europe, he said.

The KRG has also agreed to help resume electricity imports from Turkey to Iraq’s northern Mosul governorate, he said.

Frequent outages across Iraq hamper reconstruction, and protests over unreliable electricity supplies have made the issue a major concern of the government. Iraq’s power plants and distribution system have suffered through years of conflict, sanctions and sabotage.

Iraq, home to the world’s fifth-biggest oil reserves, needs foreign investment and expertise to help ramp up energy exports and rebuild an economy shattered by years of conflict, economic sanctions and sabotage. The country has signed 15 oil and gas licenses since the 2003 U.S.-led invasion that ousted the regime of former President Saddam Hussein.

Source

This only forms part of the political movement I had mentioned yesterday, I hope this will keep us in an uptrend ahead of confirmation of payment, drill results, Excalibur court results and further political movement. Shame both XEL and RRL are on another downer today though.

[lukese]

im looking to jump in on that RRL with a T20 tommorow, also Great news about DNO with reguards to GKP.

[lukese]

no luck with TDW, just spoke with them and they said the only way to increase my personal trading limit was to fund my account, i said i had friends with a lot less in there portfollio who where getting personal trading levels a lot more than my 0.02p haha! and she said well how much do you want in a rude sorta way! so i said £1500 and she said she would ask someone and get back to me, im not holding my breath, slag!

[hxbro]

how about sell some GKP say £1000 (pick something worth while, otherwise you'll wait longer to see any profit due to trading costs), then do a T5 with something else (RRL will probably rise this week) but use the 0.02p, make sure you use all your funds available so it definitely uses the 0.02p, put a tenner in your account afterwards to cover the 0.02p, then close the t5 on a profit if possible, or sell the holding after the t5 expires (once in profit again) and see what happens then.

It might be because you haven't traded with the extended time, so you need to build up a bit of history.

Obviously this is your own decision, I can't advise buying a stock if you don't want to

[evilsatan]

If you are going to try as hxbro has suggested then RRL would be a good shout, expecting news this week which will hopefully get the SP back into the 20s. If possible avoid selling GKP though as we could get news any time now!

[lukese]

tell me about it, i got 1500 tied up in PAF might sell that.

ill keep ya updated

[evilsatan]

A decent update today but I am a little disappointed with the early SA results. Fox Davies have raised their target price to £2.75 though.

*
Gulf Keystone Petroleum Ltd. (AIM: GKP)
("Gulf Keystone" or "the Company")
*
Kurdistan Operational Update
Gulf Keystone today provides an update on its activities in the Kurdistan Region of Iraq.

Shaikan-2
*
Further to the Company's announcement on 22 March 2011, the Shaikan-2 deep appraisal well has now drilled to a depth of 2,655 meters. The well is now in the top most section of the Triassic age formations and the Company is running casing.*
*
Further to the announced testing of the Sargelu/Alan section, which achieved the stabilised flow rate of 8,064 bopd, logs and cores have now been obtained in the Mus and Butmah Jurassic sections.
*
Four cores totaling almost 30 meters have been recovered from the Mus formation, 23 meters of which had excellent oil shows. An open hole test resulted in a significant flow, although a reliable oil measurement could not be obtained due to technical limitations of the down hole tools. A similar zone on Shaikan-1 achieved 2,250 bopd.
*
Five cores totaling almost 47 meters have also been recovered from the Butmah formation, 26 meters of which had excellent oil shows. A similar zone on Shaikan-1 achieved 4,650 bopd on test.
*
This combination of core, log and flow test data indicates extensive oil columns and an impressive similarity between the Jurassic section in Shaikan-2 and the same formations in Shaikan-1 (which achieved a cumulative test rate of over 20,000 bopd from various geological horizons).
*
The forward plan is to drill through the Triassic section and possibly into the Permian.
*
After drilling of the well is complete cased hole flow tests in the Jurassic may be undertaken, a practice which worked well on Shaikan-1 during the summer of 2010. This would allow an optimized testing programme to be designed which will benefit from all of the information gathered during drilling of the well and equipment to be sourced which will overcome the current technical limitations of the open hole test tools. A similar approach may also be undertaken in the deeper zones but does not preclude earlier open hole testing.
*
Sheikh Adi-1
*
The Sheikh Adi-1 exploration well has reached the Triassic and has cut a core in the Kurre Chine A at a depth of 3,293 meters. The core of the Kurre Chine A contains good oil shows and a flow test is to be undertaken shortly.
*
Prior to reaching the Triassic, logs and cores were obtained in the Jurassic sections, which show hydrocarbon saturations and where 45 meters of net pay have been calculated. Gulf Keystone obtained the following from the Jurassic net pay zones of interest:
*
·***** A core totaling almost 13 meters was recovered from the Barsarin/ Sargelu Jurassic section which had moderate oil shows. A test of this zone of interest recovered oil but no reliable flow rate measurement could be obtained due to limited permeability.
·***** A core of just over 12 meters was also obtained in the Butmah containing good oil shows.
*
In addition, log data indicates moveable oil in the Sargelu/ Alan (obtained in sections deeper than the test zone), Mus and Butmah, all of which would be the target of a future potential test programme.
****
This recent Sheikh Adi-1 well data, along with early results of the 3D seismic interpretation, indicates that the natural fracture system that makes the wells in the Jurassic intervals at Shaikan such prolific oil producers, is significantly less extensive on the footwall of the Sheikh Adi structure. The main significance of this is that the wells in this part of the structure, which are likely to flow oil at low rates, may benefit from acid treatment and artificial fracturing in order to improve well productivity. The Company has already demonstrated with Shaikan-1 and Shaikan-3 that small scale acid treatments can lead to significantly improved production rates.* *
*
Similar to Shaikan-2 an extensive cased hole testing program is currently being considered for the Jurassic section of Sheikh Adi-1 after drilling of the well is complete, which may include limited artificial fracturing, depending on equipment availability. This would allow an optimized testing programme to be designed which will benefit from all of the information gathered during drilling of the well and equipment to be sourced which will overcome the current technical limitations of the open hole test tools. A similar approach may also be undertaken in the deeper zones but does not preclude earlier open hole testing (as currently being progressed in the Kurre Chine A).
*
Gulf Keystone analysis indicates that due to the intense flexure of the Sheikh Adi structure a more extensive natural fracture system is likely to be found on the other side of a major reverse fault, to the north of the current well location. A well into this area is being considered.
*
Shaikan-4
*
Shaikan-4, second deep appraisal well, 6 kilometers to the north-west of the Shaikan-1 discovery well, is targeted to drill to the top of the Permian. The drilling rig is currently 98% rigged up at the well site, and is expected to spud before the end of May.
*
Bekhme-1
*
Bekhme-1, second exploration well on the Akri-Bijeel block operated by Kalegran Ltd. (a 100% subsidiary of MOL), is drilling ahead with 12.25 inch hole at a depth of 1,776 meters, in the upper sections of the Jurassic.
*
Oil Export
*
Following a request from the Ministry of Natural Resources of the Kurdistan Regional Government ("KRG"), the Company is preparing to export up to 5,000 barrels of oil per day (bopd) from its Extended Well Test ("EWT") facility at Shaikan. A number of operational, commercial and legal preparations are required in order to be able to implement this request which the Company is currently undertaking. Commencement of the export of oil is still subject to final approval of the KRG.
*
John Gerstenlauer, Gulf Keystone's Chief Operating Officer commented:
*
"We will soon have four exploration/appraisal wells underway in Kurdistan with further wells expected to spud before the end of the summer. The Company's steady progress in the Shaikan-2 and Sheikh Adi-1 drilling is highly encouraging and we look forward to obtaining more results from these two wells soon. The Company views the recent announcement by the Kurdistan Regional Government confirming release of the first oil export payment to the KRG as an extremely positive development for all the oil producers in the Kurdistan Region of Iraq. This is especially good news for Gulf Keystone since we are preparing to meet the KRG's request to begin oil export at an initial volume of up to 5,000 bopd of crude".

Source

[lukese]

all good, cant work out the 5% drop though but this is GKP after all!

[evilsatan]

all good, cant work out the 5% drop though but this is GKP after all!

I have smaller holdings in RRL and XEL too, all three shares fell 5-8.4% today and all three are oil explorers. Couple that with the falling value of crude and GKP always falls on good news I wouldn't read too much into it. I am getting fed up but I am still holding strong in GKP until TO, the only reason I hold other shares is that TDW don't allow all of my credit in a single share and I can't use ISA funds in GKP.