Ann: $15m raised to fund Well Test & Cabora Bassa Operations, page-708

Gulf Keystone Petroleum (GKP.LSE) got up to 22Billion Shares In Issue (SII) - before they tidied up (consolidated) their Register !!

IVZ Still has PLENTY of Headroom in it's SII space !!

https://en.wikipedia.org/wiki/Gulf_Keystone_Petroleum

"A small American company called Excalibur Ventures had initially drawn the attention of Texas Keystone to the possibility of acquiring exploration acreage in Kurdistan.[10]
This initially included a majority position in the Shaikan block, for which Gulf Keystone would be the operator, and a minority position in the Akri-Bijeel block, for which MOL would be the operator (op. cit).

"In the summer of 2009 the Shaikan wildcat well was a success, and it was realized that the volume of oil in Shaikan was much greater than had been expected from the pre-drill assessments made by the company's geophysicists.[11] The share price strengthened considerably as a consequence, moving beyond its previous high levels.[8]

"Shaikan was declared a commercial discovery on August 1, 2012, following a five-well appraisal program.[14] In June 2013, the Field Development Plan was approved[6] and in December 2013 crude oil exports from the Shaikan field commenced.[5]

"Initially independent estimates placed the gross oil-in-place (OIP) volume at 13.7 billion barrels (P50) potentially making it one of the largest oilfields discovered in Iraqi Kurdistan"......


It is Worth reading this Wiki - to see and appreciate the UPs and DOWNs of the "Retail Perception" for the Value of the Shaikan Field as it has Progressed/Developed

Including ALL of the Political/Geo-Political (Sovereign Risk) and Business/Financial "Adventures" of being a Shareholder in GKP - from Day One !! (Not Me though !!)

As a Case History for study by Speculative Retail O&G Investors this is in the Top Rank !!

https://en.wikipedia.org/wiki/Gulf_Keystone_Petroleum