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.
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.
The misery continues for those holding shares in Kurdistan-focused oil explorer Gulf Keystone Petroleum (LSE: GKP). Such is the company's plight that even good news its turns out to be bad for private investors.
Gulf Keystone Petroleum Ltd. (LON:GKP) confirmed today that it has received a gross payment of US$15mln from the Kurdistan Regional Government (KRG) for crude oil export sales in November 2016 from the Shaikan oil field.
Years don't get much worse than the one Gulf Keystone Petroleum (LSE: GKP) has just endured. Shares of the company are down over 80% in the past 12 months, but the most pertinent question is whether or not bargain hunting investors should take a punt ...