Gulf Keystone, eyeing Kurdistan success, could be takeover bait

|About: Gulf Keystone Petroleum Ltd. (GUKYF)|By:, SA News Editor

Gulf Keystone (GUKYF.PK, GFKSY.PK), sitting on Iraqi's Kurdistan's giant Shaikan discovery that could produce 250K bbl/day by 2018, is seen as a takeover target as the world’s biggest oil companies look for untapped fields.

Gulf Keystone has spent $780M so far toward completion of a pipeline for direct exports to Turkey; analysts say offers could come soon because the new pipeline may boost the company's value by 40%, and a ruling is expected in a London lawsuit brought by a former associate claiming 30% of the pipeline.

Exxon Mobil (XOM), Chevron (CVX) or an Asian national oil company are considered candidates to snap up the company.