03-24-2012, 02:23 PM
The Independent: Gulf Keystone bosses' trip to China hints at takeover deal
MARK LEFTLY SATURDAY 24 MARCH 2012
The bosses of takeover target Gulf Keystone Petroleum have visited China with an army of advisers, leading to speculation that a Far Eastern oil giant could be interested in the company.
In a court transcript from a case over the origin of Gulf Keystone's oil discoveries in northern Iraq, the company's lawyer revealed: "The business trip to China is one which, as your Lordship sees, is market sensitive ... it involves finance advisers, it involves external legal advisers, and it involves a number of counterparties in the Far East who this team is going to see."
The news emerges a day after chief executive Todd Kozel announced an "exit event" scheme, which would see the board granted significant bonuses if they sell the company or a majority of its assets.
(This info leaked via a study of the transcripts of a court hearing related to Excalibur.)
MARK LEFTLY SATURDAY 24 MARCH 2012
The bosses of takeover target Gulf Keystone Petroleum have visited China with an army of advisers, leading to speculation that a Far Eastern oil giant could be interested in the company.
In a court transcript from a case over the origin of Gulf Keystone's oil discoveries in northern Iraq, the company's lawyer revealed: "The business trip to China is one which, as your Lordship sees, is market sensitive ... it involves finance advisers, it involves external legal advisers, and it involves a number of counterparties in the Far East who this team is going to see."
The news emerges a day after chief executive Todd Kozel announced an "exit event" scheme, which would see the board granted significant bonuses if they sell the company or a majority of its assets.
(This info leaked via a study of the transcripts of a court hearing related to Excalibur.)