Updates

Gulf Keystone - Shares soar ahead of imminent exploratory well drilling

August 2005

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Gulf Keystone, one of our New Year NAPS, has soared during the month and is up 60% since the June issue. No new news other than an update note from broker Evolution. Three positive bits of news (a) The GKN-field has almost doubled its production from 850 barrels/day to 1,500 barrels/day with the company expecting a production licence by the year end; (b) reservoir simulation and testing will begin at the GKS-2 and GKS-3 workover wells on 11 August and (c) the rig has moved to the exploratory well RTB-W and will reach its total depth around the time this issue lands. Evolution notes that the company?s drilling programme calls for a further 12 wells in the next 18 months. Its price target has been lifted in line with the oil price in ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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