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11 Nov 11 13:09
Date Joined: 01 Oct 07
| Topic/replies: 6,350 | Blogger: Whippet's blog
Can't be long now shirley?

Vallares and now Exxon have entered Kurdistan. This must derisk the region massively.

All looks very good for GKP with 10 billion barrels OIP and a market cap of £1.25 bn.

It doesn't take a genius to work out that this is massively undervalued, especially considering iraqi oil companies trade for $8/boe based on 2P reserves. My only hope is this doesn't get taken over on the cheap for a few quid by the majors.
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Report Banwana November 12, 2011 4:44 PM GMT
GKP is the third most annoying share in the world market.
Report wykhamist2 November 12, 2011 4:55 PM GMT
I have been holding them for the last few months but they are pretty much at the price I paid for them now. Since I only have about 3000 shares I will be hanging on to them for the long term.

But I would not be surprised to see a lot of profit-taking on Monday. On paper they have something like double Shell's reserves, so should be worth vastly more. But the market is very suspicious of them. It's very hard to decide whether its a massive buy or a good time to sell, so definitely not one for widows and orphans.
Report Whippet November 12, 2011 5:54 PM GMT
What are the 2 more annoying shares? lol

I can see why people would be annoyed by it as this oil and gas law is one hell of a saga.

They are undervalued purely because of the oil and gas law wranglings which rightly puts a lot of investors off (and was originally why I never bought any). But seeing as hayward (vallares) and now exxon have taken up contracts in kurdistan I believe the law can't be far off (this was the reason I have now bought in). If a law gets passed then there should be a rerating here to a valuation of approx $8/boe (2P) which is what the southern iraq oil companies trade for. I'm hoping for a speedy resolution, otherwise I can see myself getting very pissed off with this share.
Report Banwana November 12, 2011 6:02 PM GMT
Wasabi is number 2 although I'm not sure I should be passing that one over. Number 1 will cost you money :D
Report Banwana November 12, 2011 6:15 PM GMT
PS I bet you buy some whippet Laugh
Report MONEY TREE November 12, 2011 10:16 PM GMT
Is number 1 betfair?
Report Whippet November 24, 2011 8:05 PM GMT
yet another rumour of a £3 takeover by exxon. Laugh
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