Jackpott Ölaktie Gulf Keystone !

http://www.lse.co.uk/...s_Second_Payment_For_Oil_Exports_During_April
 

....werden hier massiv große Blöcke bis zu fast 1Mill Shares vorrangig gekauft. Irgendwas läuft hier! Hat jemand News?  

...heute im Minus schliessen, schließt die Bude bei voraussichtlich ca. 20 Mill gehandelten Shares aauch ihre Pforten. Wahnsinn bei dem Ölvorkommen.  

Gulf Keystone Petroleum Ltd. bondholders are preparing a plan that would swap some debt into equity to take control of the oil producer, according to people familiar with the matter.

Guaranteed and convertible bondholders are working on the plan to take the company if it fails to find substantial new funding, said the people, who asked not to be identified because the talks are private. Under the proposal, holders of $250 million of guaranteed notes due April 2017 would get a majority of the company, while convertible bondholders and shareholders would have smaller stakes, they said.

Gulf Keystone, which operates in the Kurdish region of northern Iraq, delayed payment of $26 million of debt obligations due this week as it seeks to restructure its finances. The London-based company has been hit by the slump in oil prices and previously erratic export payments from the Kurdistan Regional Government.

A spokesman for Gulf Keystone declined to comment on restructuring talks and potential new investors. The company can delay the overdue bond payments until early next month without risking default.
Stock Collapse

Bondholders could deploy the plan if management fails to raise enough money to guarantee repayment of $575 million of notes due next year, the people said. Gulf Keystone has a market value of about $74 million, following an 86 percent stock rout in the past year, based on data complied by Bloomberg. The shares dropped 6.3 percent on Friday, the first decline this week.

Houlihan Lokey Inc. is advising a group of guaranteed and convertible bondholders including GLG Partners, Sothic Capital Management and Taconic Capital Advisors, people familiar with the matter said in February.

Officials at Houlihan Lokey, GLG, Sothic and Taconic declined to comment on the restructuring negotiations.

Gulf Keystone can delay payments on $325 million of October 2017 convertible notes due April 18 until May 2. Those on the guaranteed notes can be postponed until May 3. The convertible notes last traded at 17 cents on the dollar, while the guaranteed notes were at about 49 cents, according to Trace, the price-reporting system of the U.S. Financial Industry Regulatory Authority.

Gulf Keystone has said that the Shaikan wells in Kurdistan, which it operates with MOL Hungarian Oil & Gas Plc, need $71 million of investment to maintain current production levels of 40,000 barrels a day. Spending of $88 million is required to raise production to 55,000 barrels  

Gulf Keystone Petroleum (LSE:GKP) has been having cash flow problems for some time -- you don't need me to tell you that.

The company has been receiving its agreed monthly payments, from the Kurdistan Regional Government in payment for oil supplied from its Shaikan development, of $15m gross per month. But there's been not a penny yet to cover the arrears from before that deal was struck, when the government was taking the oil and not paying for it.

On top of that, Gulf's debts and interest payments are building up while its cash reserves are dwindling -- the company has been keeping afloat thanks to a standstill agreement with creditors that had been extended as far as 1 July.

But then, after the markets had closed on Friday, Gulf Keystone revealed the bad news -- the standstill agreement has not been extended, the company doesn't intend to make its delayed April 2016 coupon payments, and in the absence of the agreement the company will be in default. Gulf reiterated that it's discussing a possible agreement with some stakeholders that could lead to a restructuring, and that the discussions will continue.
Is it all over?

What does this all mean? Gulf Keystone shares fell 30% in early trading when the markets opened Monday, but at the time of writing the price had recovered half of the drop to 4.1p for a 15% loss on the day. What does the future hold now for Gulf Keystone?

I'm reminded of the disaster that befell Afren last year, when, overtaken by debts it couldn't service, a debt-for-equity restructuring that would have handed most of the company to its creditors looked to be the only way out. Despite a protest from some shareholders, the deal looked like it would be struck until the last minute, when the state of the company turned out worse than expected and Afren ended up in administration.

Gulf is clearly not in such a dire situation as its Shaikan reserves are large and the oil is pumping away at daily volumes of 40,000 barrels per day. But the company has said its wells might begin to exhibit natural declines later in 2016, and that more capital investment will be needed to maintain current volumes and to raise production to a possible 55,000 barrels per day.
Deal in the pipeline?

Now that the standstill agreement has been suspended, there has to be a possibility that a deal with lenders isn't far from being inked -- I reckon they'd be mad not to come to some sort of agreement given the genuine long-term potential of Shaikan. I see it as inevitable that Gulf will survive -- its finances are all in the open and there shouldn't be any Afren-like skeletons in the closet. The big question is how much of the company will be left for existing shareholder after any debt-for-equity swap takes place.

Considering that Gulf's debt repayments are set to rocket next year, with $250m due in April 2017 and another $325m due in October, and with its market cap standing at only $40m today, I can't see there being much left at all. I've been bearish on Gulf Keystone as an investment for a long time now, and I certainly wouldn't be buying in the hope of recovery now.  

Gulf Keystone Petroleum Ltd. creditors will take control of the oil producer after low crude prices and erratic export payments

... (automatisch gekürzt) ...

http://www.bloomberg.com/news/articles/2016-07-14/...quity-sell-stock

 

...am Boden! Wahnsinn bei der Story vor einigen Jahren! Wäre da nicht Krieg im Mittleren Osten und der Ölpreisverfall gewesen. Ich mag gar nicht daran denken. Momentan sind die Funde nichts  mehr Wert!  

da werden Kurse angezeigt (An- und Verkauf) in Stuttgart und Frankfurt sowie Tradegate.

In meinem Depot die Aktien aber bis zum 31.12. gesperrt !?

Also was soll das denn ?
 

werden da nur die neuen Aktien gehandelt ?  

ich glaub es gab einenn 100:1 Resplit  

ja, hast recht....Re-Split wurde durch geführt  

Seitdem alle Kapitalmassnahmen und Resplit durchgeführt sind,haben wir täglich steigende Notierungen seit etwa einer Woche,wie geht es weiter ,hm ? Wie siehts bei dir aus Noidea ?  

Gulf Keystone Petroleum Limited (LON:GKP) has guided for production in 2017 of between 32,000 and 38,000 barrels of oil per day, but it says without further investment in the Shaikan field it would expect it to be at the low end of that range.

How much GKP invests into the Shaikan field – beyond what it terms ‘maintenance capital’ - depends upon the outcome of ongoing talks with the Kurdistan Regional Government.

Uncertainty over the quantum and regularity of oil payments from the KRG has been a continual headache for both GKP and its shareholders.

Long running talks aim to establish a regular and timely payment cycle, and crude marketing arrangements. And as analysts at stockbroker WH Ireland this morning point out, the present payments schedule reflects only slight returns for the oil company.

“The cash received amounts to $11.22/b, which is low and suggests the KRG is not shy about creaming the lion’s share of the gains at the expense of the providers of capital and technical expertise,” WH Ireland said in a note.

Over the course of 2016, Gulf Keystone received US$142.5mln of gross oil payments from the KRG, while production averaged 34,794 barrels of oil per day (at the top end of last year’s guidance).

GKP ended 2016 with some US$104mln of cash, and following its debt-for-equity refinancing the group’s debt was reduced to US$100mln.

Chief executive Jón Ferrier emphasised the group’s operational performance, which he described as strong.

“We have an increasingly well understood field which continues to perform in line with expectations, a healthy balance sheet, and stand ready to further invest in the Shaikan Field,” he said.

“However, commercial and contractual clarity around payments and marketing remain key to achieving production growth and realising full value potential."  

jeder Dreck`s Explorer hat eine höhere MK !

 

vermute ich. Lt. finanzen.net haben die ein MK von 337 Mio.

 

danke für die Info.....das ändert die Situation dann etwas....obwohl 337 Mio. ist auch nicht gerade viel......da ist noch viel Luft nach oben :-)  

Gulf Keystone boss “strongly encouraged” by Shaikan performance
08:57 06 Apr 2017
Having reset its finances, with a dilutive debt-for-equity swap, the company is now funded for the next programme of work.
Oil workers on a well
A new phase of work will lift output to 40,000 bopd, then to 55,000 bopd

Gulf Keystone Petroleum Ltd (LON:GKP) boss Jón Ferrier said he is “strongly encouraged” by the stable performance of the Shaikan field, which is in-line with expectations.

In the company’s results, for 2016, it was revealed that production from Shaikan averaged 34,794 barrels of oil per day, which was at the upper end of the 31,000 to 35,000 bopd guidance for the year.

Having reset its finances, with a dilutive debt-for-equity swap, the company is now funded for the next programme of work – which first aims to stabilise output at around 40,000 bopd, before growing to 55,000 bopd.

The first phase of the programme has an estimated US$58-68mln capital cost, while the next stage is slated at US$25-45mln.

GKP reported a 126% rise in revenue to US$194.4mln, up from US$86.2mln, which included US$72.6mln which offsets against payables due from the Kurdistan authorities. Losses narrowed significantly to US$17.4mln, from US$214mln.

“We are cash flow positive with a healthy current cash balance of $112.7 million as at 5 April 2017, so we are primed for future development.  Since September 2015, we have received 16 payments from the MNR for Shaikan exports,” Ferrier said.

“To reiterate the group's position; we have a field which continues to perform predictably, a revitalised team, and a healthy balance sheet, with which we stand ready to further invest in the Shaikan Field and grow shareholder value."

MGF
Chali  

ein sehr interessanter Wert. Bin mit dabei.

 

Is it finally time to buy Gulf Keystone Petroleum Limited?

G A Chester | Saturday, 25th March, 2017 | More on: GKP
Imager: Public domain

Gulf Keystone Petroleum (LSE: GKP) has been one of the great oil disaster stories for investors of recent years. Its protracted fall from grace culminated in a virtual wipeout for long-term shareholders last year in a hugely dilutive debt-for-equity swap.

The company still seems to be viewed as poison by many in the market but does this present a great opportunity for new investors to make a killing and old shareholders to recoup their losses? In other words, is it finally time to start buying Gulf Keystone stock?
From the brink of insolvency

The traumatic events of last year were precipitated by an overload of debt on Gulf Keystone’s balance sheet, a falling oil price and a deterioration in regional geo-politics.

The oil price and political situation left Gulf Keystone in a position in which it would be unable to service, refinance and/or repay its debt. With the company teetering on the brink of insolvency, management undertook a painful restructuring of the balance sheet. This involved a significant debt reduction from over $600m to $100m through the conversion of over $500m of debt into equity and a $25m equity raise through an open offer at 1.09 cents (0.82p) a share.

Management said the strengthened balance sheet and liquidity would allow Gulf Keystone to implement its near-term investment plan to maintain production at 40,000 barrels of oil per day (bopd) with the potential to increase production to 55,000 bopd.

Chief executive Jón Ferrier commented: “With the support of the MNR [Kurdistan Regional Government Ministry of Natural Resources], which has established a pattern of payments, and with a stabilising oil price environment and sustainable debt levels, we have the foundations of a strong future equity story for a restructured GKP to develop the Shaikan field and unlock its potential as one of the most significant assets in Kurdistan.”
Has there ever been a better time to buy?

Despite the transformation of the balance sheet (Gulf Keystone reported a cash position of $104m at 31 January), an improving oil price and some brightening of the geo-political outlook, the company’s shares are trading today at below the level when the very existence of the company was under threat.

A 1-for-100 share consolidation followed the restructuring, which means that today’s share price of 118p is equivalent to 1.18p in ‘old money’. The shares were trading at 2.02p immediately prior to the announcement of the restructuring.

Of course, Kurdistan remains a volatile region, although this is something that has always been known to investors. Also, discussions with the MNR regarding a regular and timely payment cycle and other commercial and contractual conditions have yet to conclude. However, management appears optimistic of gaining satisfactory clarity and “looks forward to making further investments to achieve plateau production at nameplate capacity of 40,000 bopd”.

Gulf Keystone has always been a relatively high-risk investment. Indeed, I have rated it as wholly un-investible over the last couple of years. However, looking at the business and potential today, I believe there’s never been a better time to buy the shares — albeit for investors with a higher tolerance for risk.
Don't make these mistakes

Underestimating the risk of Gulf Keystone's previous high level of debt proved to be a costly mistake for some investors but is it one of the most common wealth-sapping mis-steps investors make?  

Herzlich willkommmen in unserem "Desaster Thread"!

MFG
Chali  

Gulf Keystone investors will be hoping the worst is over
15:54 05 Apr 2017
Last year was extremely dilutive for GKP shareholders, they'll be hoping that 2017 will be better.
oil well and money, US dollar
GKP releases results for 2016 on Thursday

Given that Gulf Keystone Petroleum Ltd (LON:GKP) severely diluted equity holders with its recent financial restructuring, swapping some US$500mln of debt for new shares in October, the loyal investors still holding shares will be hoping the worst is now over.

As GKP releases results for 2016 on Thursday eyes will be on production volumes, realised oil prices as well as commentary regarding crude transportation and payments.

GKP boss Jon Ferrier is seemingly in increasingly positive mood, according to oil companies expert Malcom Graham Wood.

“The winds they are a changing, around at New Fetter Lane but the main asset, Shaikan is certainly not, it is still a high quality asset with significant growth potential,” he said in his blog this week, following a meeting with the company.

“The reserves which are 622 mmbbl of 2P give current stable production of 40/- b/d  and with investment that figure could and should grow to a much higher number.”

“Effectively under new management and after last year’s refinancing with a balance sheet that actually has net cash GKP is in a stronger position, albeit having wiped out most of the equity holders which they would be minded to remember.

“KRG payments for their oil have been regular and adequate and means that in due course they will be able to contemplate further investment to increase production, but this time they will do things in the right order one hopes.”  

Hat die jemand auf dem Schirm?  

Erstklassige einstiegschance hier bei top Fundamentaldaten:

Today we'll evaluate Gulf Keystone Petroleum Limited (LON:GKP) to determine whether it could have potential as an investment idea. To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business.

First, we'll go over how we calculate ROCE. Next, we'll compare it to others in its industry. Last but not least, we'll look at what impact its current liabilities have on its ROCE.

What is Return On Capital Employed (ROCE)?
ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. In general, businesses with a higher ROCE are usually better quality. In brief, it is a useful tool, but it is not without drawbacks. Renowned investment researcher Michael Mauboussin has suggested that a high ROCE can indicate that 'one dollar invested in the company generates value of more than one dollar'.

How Do You Calculate Return On Capital Employed?
Analysts use this formula to calculate return on capital employed:

Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)

Or for Gulf Keystone Petroleum:

0.12 = US$77m ÷ (US$773m - US$123m) (Based on the trailing twelve months to June 2019.)

So, Gulf Keystone Petroleum has an ROCE of 12%.

See our latest analysis for Gulf Keystone Petroleum

Does Gulf Keystone Petroleum Have A Good ROCE?
ROCE is commonly used for comparing the performance of similar businesses. Using our data, we find that Gulf Keystone Petroleum's ROCE is meaningfully better than the 9.8% average in the Oil and Gas industry. We consider this a positive sign, because it suggests it uses capital more efficiently than similar companies. Independently of how Gulf Keystone Petroleum compares to its industry, its ROCE in absolute terms appears decent, and the company may be worthy of closer investigation.

Gulf Keystone Petroleum reported an ROCE of 12% -- better than 3 years ago, when the company didn't make a profit. That suggests the business has returned to profitability. You can click on the image below to see (in greater detail) how Gulf Keystone Petroleum's past growth compares to other companies.

LSE:GKP Past Revenue and Net Income March 26th 2020
LSE:GKP Past Revenue and Net Income March 26th 2020
More
Remember that this metric is backwards looking - it shows what has happened in the past, and does not accurately predict the future. Companies in cyclical industries can be difficult to understand using ROCE, as returns typically look high during boom times, and low during busts. This is because ROCE only looks at one year, instead of considering returns across a whole cycle. Remember that most companies like Gulf Keystone Petroleum are cyclical businesses. Future performance is what matters, and you can see analyst predictions in our free report on analyst forecasts for the company.

Gulf Keystone Petroleum's Current Liabilities And Their Impact On Its ROCE
Current liabilities include invoices, such as supplier payments, short-term debt, or a tax bill, that need to be paid within 12 months. The ROCE equation subtracts current liabilities from capital employed, so a company with a lot of current liabilities appears to have less capital employed, and a higher ROCE than otherwise. To counter this, investors can check if a company has high current liabilities relative to total assets  

unsere gulf keystone entwickelt sich praechtig,einer von euch wieder dabei ? mittlerweile hochprofitabel un immer noch nur 500 mio wert,ich glaub premier oil ist pleite und alle russenaktien vom handel ausgesetzt,da bin ich mal gespannt wie das ueberhaupt weitergeht ....  

Fakten:  Gulf sitzen auf riesen Ölreserven...bei aktueller jährlicher Förderung ca. 30 Jahre Reserven
Unternehmen ist so gut wie Schuldenfrei.
Unternehmen zahlt jetzt Kapital den Aktionären zurück Vierteljährlich.
Da ich davon ausgehe das Öl weiterhin um die 100 Dollar pendeln wird ,werden ordentliche Renditen erwirtschaftet. Ich gehe davon aus das man vierteljährlich um die 15-30 Cent bezahlt. Das wären 0,60 bis 1,20 Dollar.... Rendite 20-40 %
Risiko hier ist das dass ganze Geschäft über die Regierung Kurdistan läuft. Aber bei den hohen Renditen ist es das Risiko wert.
Wie wertvoll das ganze ist sieht man schon an den historischen Kursen. Nur heute steht man wesentlich stabiler da.