Disclosure: The author has a short position in one or more of the shares mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Gulf Keystone (GKP) reminded potential suitors on Thursday why there was no reason to pay top dollar for it with the news that permission was needed from the 13% bondholders to avert the exercise of a put option which has been triggered by a fall in its asset value.
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