gulf keystone pet-spon adr (GFKSY) Key Developments
Gulf Keystone Petroleum Puts Assets For Sale
Jul 27 15
Gulf Keystone Petroleum Limited's (LSE:GKP) perilous financial position forced it to place itself and its assets up for sale, but the process has so far failed to produce a buyer. However, Jón Ferrier, recently appointed Chief Executive Officer, expects to close the process by the end of the summer. Certainly, attracting a buyer, or strategic partner, would be the preference of shareholders, who fear that their investment in the company may be diluted if it is forced into a capital-raising to bolster its balance sheet.
Gulf Keystone Petroleum Limited. Announces Board Changes
Jul 3 15
Gulf Keystone Petroleum Limited. announced that the company's Non-Executive Director V Uthaya Kumar has resigned from the Board on 2 July 2015. Non-Executive Directors Dr. Joseph Stanislaw and Maria Darby-Walker have decided to not seek re-appointment and will retire from the Board on the day of the company's annual general meeting on 9 July 2015.
Gulf Keystone Petroleum Secures Six Month Agreement with Kurdistan Crude Oil Buyer
Jul 1 15
A six-month agreement has been secured by Gulf Keystone Petroleum with a crude oil buyer in Iraqi Kurdistan. The terms of the deal covers that the London-listed group would offer between 12,000 and 40,000 barrels of oil per day (bpd) to an unnamed local buyer. Through this contract, it would develop Gulf Keystone's balance sheet, which recorded a cash position of $68.7 million as of June 26, even though the company is still owning oil payments from the region's government. The talks between the group and the Kurdistan Regional Government to set up a regular payment plan for crude oil purchases were currently in progress and it is expected to reach a solution over the coming months.
T5 Mulls Gulf Keystone's Reverse Takeover
Jun 28 15
New Horizon Oil & Gas Limited is considering a second bid for Gulf Keystone Petroleum Limited (LSE:GKP). T5 has been looking at various targets for a reverse takeover as a route to a public listing, and is keeping a watching brief on Gulf Keystone Petroleum Limited. Pat Plunkett, one of several former senior Oil executives at New Horizon, said that the company would consider spending between €100 million and €500 million on a reverse taekover.
Gulf Keystone Petroleum Limited, Annual General Meeting, Jul 09, 2015
Jun 15 15
Gulf Keystone Petroleum Limited, Annual General Meeting, Jul 09, 2015., at 12:00 Central European Standard Time. Location: Le Meridien Etoile 81 Boulevard Gouvion-Saint-Cyr. Agenda: To approve the company's annual report and accounts for the year ended December 31, 2014; to consider auditor's re-appointment and remuneration; to consider re-appointment of directors; to consider remuneration policy for directors and annual report on remuneration; and to consider share capital.