Gulf Keystone: Your statement makes me even more worried

Tom Winnifrith Thursday 2 May 2013


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I am expecting that the next statement from Gulf Keystone will be “The company knows of no reason for the decline in its share price.” Well I can pre-empt that by stating that I can think of plenty and today’s cack-handed attempt to reassure investors is one of them. And so here goes with my six reasons why I am increasingly bearish about Gulf Keystone.

I am sure that bulls can answer some of them but not all I suspect. The Red Flags keep coming up on this one and I suspect they will keep appearing. I wrote last week Gulf Keystone and the Smell Test: Fail – I stand by my conclusions of then. But here goes with the questions.


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About Tom Winnifrith
Tom Winnifrith is the editor of When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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Tom Winnifrith Bearcast: Why Bidstack now needs a formal (lack of) profits warning and could it run out of cash in Q1 2020

Of course I only record this because I am in the pay of the Israeli and Russian Governments. Whatever. I start with the pathetic deadwood press and how Richard Jennings blows them off to his shame and my disgust. But this podcast is really all about Bidstack (BIDS). Its CEO lied to investors on August 8 as explain with more detail this time. Ther case is open and shut. Now the company needs to issue a formal lack of profits warning. Again that is not a matter poof debate as I explain, in case wretched Nomad Mark Brady of Spark is listening and wants to avoid getting into even more trouble after his August 8 failure. Finally I ask how soon it will need to place again?

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