Extraction Podcast part 6: Gulf Keystone Petroleum

Extraction Podcast part 6: Gulf Keystone Petroleum

Gulf Keystone Petroleum (GKP) does “not need to do a deal” according to chief executive Jón Ferrier, amid reports that the Kurdistan-based producer is a takeover target of Chinese oil group Sinopec. Speculation of a sale or merger has grown since bondholders were handed the majority of the main market-listed* group’s equity last October, in a move that all but wiped out small investors. Since then, Gulf Keystone’s share price has risen with an improved oil price, and management has signed an incentive scheme that could greatly reward it, if a binding sale is agreed by the end of 2017.

To continue reading, register today

to enjoy limited access to the following:

  • Daily trading news
  • Funds coverage
  • Features on big investment themes
  • Comprehensive companies coverage
  • Economic analysis
Subscribe to Investors Chronicle

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now