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Equal Energy Ltd. Message Board

profithunting 10 posts  |  Last Activity: Apr 10, 2014 10:26 AM Member since: Oct 28, 2003
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  • the legislation" eliminates" the monthly progressivity tax rate implemented by the 2006 Amendments and ACES and increases the base rate from 25% to 35%.
    These changes will become effective on and after January 1, 2014

  • profithunting profithunting Apr 9, 2014 6:15 AM Flag

    new debt offer $250M @13% interest rate, maturity Date:4-18-2017 +
    warrants 40M @ $1.69.
    old debt 300M @6.25% due in Oct-2017.
    sophisticated machine to print money but not enough oil revenues to serve huge debt.
    consequence come with price, force to sell assets cheap or end up in the bankruptcy court.

  • profithunting profithunting Apr 4, 2014 5:45 PM Flag

    dilution only when stock price moving up become valuable,
    if stock price going down,then no reason to exercise warrants / holds bond with interest payment much better in case Bankruptcy #$%$ fan.
    kurdish regional government independence is what Baghdad worries about, artifice cut / withhold oil payment likely will continues for long period time.

  • 4 April 2014
    Gulf Keystone Petroleum Ltd. (LSE: GKP)
    ("Gulf Keystone" or "the Company")

    Fixed Income Investor Meetings

    Further to the Company's announcement of 19 March 2014, Gulf Keystone has now completed a series of fixed income investor meetings in the US, Europe and Asia.

    A privately placed debt offering to institutional investors of up to US$250 million in accordance with Reg S/144A is expected to follow for next week's business, subject to market conditions.

    The Company also informs today that this expected debt offering will include the issuance of warrants relating to up to 40 million common shares in the Company.

    Further announcements will be issued in due course.

  • Reply to

    2013 Results Announcement

    by profithunting Mar 27, 2014 2:52 PM
    profithunting profithunting Mar 28, 2014 5:40 AM Flag

    delusion bag holder, dilution another $250M coming soon.

  • profithunting by profithunting Mar 27, 2014 2:52 PM Flag

    domestic market oil sale $ 41.2 per barrel
    export market $36.89 per barrel
    revenues $21.99 per barrel to GUKYF
    operating costs would be $27.20 per barrel
    plus short funding

  • 20 March 2014
    Whilst the company announced on 19 March that it is undertaking a series of fixed income investor meetings in the US, Europe and Asia with a debt offering of up to US$250 million in accordance with Reg S/144A expected to follow, subject to market conditions, the Company has made the following statement in the Prospectus:
    The Company is of the opinion that the Group does not have sufficient working capital for its present requirements, that is, for at least the next 12 months from the date of the Prospectus.
    The Group is dependent on its existing cash resources, which totalled US$82 million at 31 January 2014, together with production revenues from its interest in the Shaikan Block in order to meet its future working capital requirements. Existing cash resources at 31 January 2014 include the £16.9 million reimbursement of the Group's litigation costs by Excalibur, which was received in early January 2014. Further litigation costs may be recovered as discussed in paragraph 18 of Part 16: "Additional Information - Litigation" of the Prospectus, but receipt of these further amounts has not been assumed as part of the Group's working capital calculation.
    Existing cash resources may be enhanced over the next 12 months by:
    •achieving further consistent oil production and domestic and export sales from Shaikan increasing up to 40,000 bopd;
    •the exercise of the Shaikan Government Option, the Shaikan Third Party Option, the Akri-Bijeel Government Option and/or the Akri-Bijeel Third Party Option under the terms of the Shaikan and Akri-Bijeel PSCs;
    •any proceeds from the potential sale of the Group's interest in the Akri-Bijeel Block; and/or
    •reimbursement of the additional £5.6 million litigation costs by Excalibur.
    Whilst the Company believes that one or more of the above events are likely to occur, if none of these events occur, and the Company is unable to otherwise enhance its existing cash resources, then the Directors would expect the Company to

  • 13-03-2014 Interactive Investor
    A third-party audit of Gulf Keystone Petroleums Shaikan site shows total reserves at the project to be 32% below previous estimates,.....showed total reserves of 9.38 billion barrels of oil equivalent at the site, just 68% of the earlier estimates of 13.7billion barrels.

  • White House says raised concerns with Iraq about report of arms deal with Iran
    23 minutes ago

    WASHINGTON, Feb 25 (Reuters) - The U.S. government raised concerns about a reported arms deal between Iraq and Iran "at the highest levels" with Iraq's government, White House spokesman Jay Carney told reporters on Tuesday.

    Carney said that the Iraq government has denied in a press release that any contracts were signed, and noted that the U.S. government will follow up with Iraq on the issue.

  • These reserves are listed under Iraq's reserves of 143.1 billion barrels, the fifth largest conventional oil reserves in the world.
    The Kurds are cagey about whether they plan to shoot for independence. But they battled the Baathist regime in Baghdad for decades for self-rule before Saddam Hussein was toppled in 2003.
    The current regime, dominated by majority Shiites who have little time for the overwhelmingly Sunni Kurds, fear Kurdistan will declare independence with its energy resources. U.S. officials support that view.
    "It's reasonable to speculate that given peace, Kurdistan may export between 2 million and 4 million barrels per day within the next decade," observed energy analyst Euan Mearns.
    "With a population of 4 million, Kurdistan could expect to become wealthy like Norway and the Persian Gulf Emirates -- if restless neighbors permit this to happen."
    That, Baghdad worries, would encourage other restive regions to break away and splinter the country that emerged from the collapse of the Ottoman Empire after World War I.
    Those could include the
    western Sunni provinces of Anbar,
    Salahuddin and Diyala where al-Qaida
    seeks to establish its own state in the heart of the Arab world, a region it's already calling the "Jazeera Emirate" and where its fighters seized the flashpoint city of Fallujah in December and parts of the Anbar provincial capital, Ramadi.

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