Fractured resources, fractured hopes!

Earlier this year I was preparing a Finding Petroleum event on the Middle East (it eventually happened on May 16th) with Kurdistan a strong theme, some context being provided by Gulf Keystone Petroleum’s financial restructuring, Genel Energy’s  reserves downgrading, and lesser incidents with other Kurdistan exploration-oriented players.

Somewhere in that thought process, I realised that I had better check what I had said about exploration opportunities in Kurdistan at a similar event back in November 2009: I concluded “Doesn’t this mean that shareholders in the Majors and bigger Independents are the ones that are going to be pleased, in the end; those in AIM-sized companies are going to be intensely disappointed?”

So a little while ago my colleague Karl Jeffreys summarised one aspect of our May 16th event thus…


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