Gulf Keystone Petroleum Limited

Still value in Gulf Keystone Petroleum Limited says Align’s Jennings

Richard Jennings, an analyst at independent research house Align Research, believes Gulf Keystone Petroleum Limited (LON:GKP) has as a chance to get back on its feet through the proposed capital restructuring.
Jennings, who holds convertible bonds in the Kurdistan-focused oil group also tells Proactive that the bid from rival oil firm DNO is both unwelcome and opportunistic.
GKP’s reserves alone may be worth twice as much as the US$300mln offered by the Norwegian group, but even so unless you are a substantial shareholder the open offer is still not worth taking up, he reckons.

Quick facts: Gulf Keystone Petroleum Limited

Price: £2.43

Market: LSE
Market Cap: £545.99 m

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