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.
Gulf Keystone (GKP) has managed to raise $40 million before expenses (let’s call that $38 million via a heavily discounted placing at 32p. This is a can kick. It is applying a sticky plaster when your arm just fell off. Bond holders will be laughing, for shareholders the wailing and gnashing of teeth is far from over.
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