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Exclusive: Gulf Keystone to announce major joint venture with Chevron within days – source

By Tom Winnifrith | Saturday 28 June 2014

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. 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.

Shares in Gulf Keystone (GKP) have soared in recent days partly on hopes that Todd Kozel would be given the boot at the AGM on 17th July but also on speculation that the company could receive a takeover approach. We understand from a reliable source that there will be no bid.

However a reliable source has told me that Gulf has agreed a material join venture with Chevron to accelerate the development of its Kurdistan operations and that an announcement is expected within days. A Gulf spokesman declined to comment when approached this evening.

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  1. So, would you be a buyer of GKP now? seeing as you have said that they are worth sun 50p recently?

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