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Thu, Jul. 17, 8:33 AM
- Gulf Keystone Petroleum (OTCPK:GUKYF, OTCQX:GFKSY) names former COO John Gerstenlauer as its new CEO after serving as interim CEO since replacing Todd Kozel last month.
- Kozel was expected to remain as an executive director on the board, but he has turned it down; he will remain as an officer but the specifics of the job are not clear.
Fri, Jun. 27, 1:20 PM
- Gulf Keystone Petroleum (GUKYF +12.6%) COO John Gerstenlauer will take over the company until a permanent replacement is found following the retirement of the CEO earlier this week, according to a letter to shareholders.
- Gulf Keystone shares have surged ~40% since Wednesday when the Kurdistan-focused company said CEO Todd Kozel was resigning after shareholders had expressed concerns over executive pay.
- A statement from the Kurdistan government that it had won a court ruling in Baghdad over oil exports also may be helping to lift shares.
Fri, Jun. 13, 8:29 AM
- Gulf Keystone (GUKYF, GFKSY) climbs as much as 6% in London trading after saying production from its key asset in Iraq's Kurdistan region was proceeding as planned.
- The company expects production from its Shaikan field to rise to 40K bbl/day of oil by the end of the year, and eight cargoes so far have been sold into the international market.
- Shares had lost 14% in the first four days of this week on concerns of spreading violence in Iraq.
Thu, Jan. 9, 5:12 PM
- Iraqi Kurdistan has started commercial shipments of oil through a new crude export pipeline to Turkey in defiance of the federal government, and the region’s Ministry of Natural Resources says the first shipment of 2M barrels will be sold by the end of January.
- The first exports on the route started flowing earlier this month from the Tawke oil field operated by DNO International (DTNOF, DTNOY), with output from the Taq Taq field operated by Genel Energy (GEGYF) and other producing fields entering the pipeline soon.
- Gulf Keystone (GUKYF, GFKSY), which earlier said it had started exports of oil from its Shaikan oilfield in Kurdistan by truck to Turkey, plans to achieve output of 100K bbl/day in 2015.
- Monthly flows through the pipeline to the Turkish port of Ceyhan are set to rise to 4M barrels next month and 6M in March before reaching 10M-12M by year-end.
Dec. 9, 2013, 12:41 PM
- Shares of Gulf Keystone Petroleum (GUKYF, GFKSY) are higher after Excalibur Ventures says it will not appeal a court judgment which dismissed all claims asserted against the company's Kurdistan operations.
- Excalibur's decision not to appeal ends a long period of uncertainty for Gulf Keystone, during which its 30% interest in the Shaikan oil field was in jeopardy.
- Gulf Keystone also is plotting a boardroom shakeup that could jeopardize a fragile truce between the company and leading investors, Sky News reports.
Sep. 10, 2013, 8:21 AM
- Gulf Keystone Petroleum (GUKYF.PK, GFKSY.PK) wins its legal case which saw its position in Iraqi Kurdistan oilfields challenged, as the English Commercial Court ruled against a U.S. company which had claimed a right to a 30% stake in the Kurdish assets.
- Excalibur Ventures, founded by a U.S. soldier serving in Iraq, lacks financial resources that prevent it from being able to fulfill its financial obligations and thus has no valid claim, the judge rules.
- Gulf Keystone’s Shaikan oil fields will produce 250K/day by 2018, according to the company.
Aug. 15, 2013, 3:59 PM
- 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.
Jun. 4, 2013, 11:58 AMGoldman Sachs upgrades a batch of smaller European energy companies to Buy - including Coastal Energy (CENJF.PK), Gulf Keystone Petroleum (GUKYF.PK) and Heritage Oil (HGOCF.PK) - after underperforming larger peers in the past two years due to falling spot oil prices. The difference between their value and long-dated oil prices is the widest since 2009, “wide enough to offer compelling valuations," the firm says. | Comment!
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Gulf Keystone Petroleum Limited is an independent oil and gas exploration and production company with operations in the Kurdistan Region of Iraq. The Company is registered in Bermuda with further offices in Erbil, Kurdistan Region of Iraq, Algiers, Algeria and London, UK. The Company was... More
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