TorontoChaosTheatre Posted January 30 Share Posted January 30 Hi, I want to buy shares in a company that trades in the London Alternative Investment Market, and I need help finding a single Canadian discount brokerage that allows me to do this. My advantage as a small investor is that I can go where others cannot; however, I believe the company, in particular Gulf Keystone Petroleum, does not even trade on Interactive Brokers. I would appreciate any help. Questrade requires someone to invest a minimum of USD 5000 and charges a 195 USF fee for international trades (which is pretty much my net worth). Interactive Brokers, unfortunately, only offers AIM shares traded on the AMSM segment that trades on SETSmm. https://markets.ft.com/data/equities/tearsheet/profile?s=GKP:LSE Happy Bargain Hunting! I hope the above request is reasonable. Link to comment Share on other sites More sharing options...
gfp Posted January 30 Share Posted January 30 Just to be clear, the ticker of the investment you are trying to make is GKP in London? Or that was just an example and you want to buy something more obscure? Link to comment Share on other sites More sharing options...
TorontoChaosTheatre Posted January 30 Author Share Posted January 30 Also, this is an even more obscure question. How can I find out how to buy LEAPS on the company's shares? Link to comment Share on other sites More sharing options...
TorontoChaosTheatre Posted January 30 Author Share Posted January 30 GKP in London is the specific company I want to buy. Also, thank you so much for your quick response. Link to comment Share on other sites More sharing options...
AG Posted January 30 Share Posted January 30 To my knowledge GKP trades on the main market, not the AIM Link to comment Share on other sites More sharing options...
gfp Posted January 30 Share Posted January 30 Interactive brokers seems to let me trade GKP in London with no problem, but obviously the market is closed so I don't know for sure. I am not in Canada though. Have you tried to place an order for the somewhat illiquid unsponsored ADR, ticker GUKYF on the US OTC markets? I don't think you will find listed options on this company but I'm not an expert in London market options. Link to comment Share on other sites More sharing options...
TorontoChaosTheatre Posted January 30 Author Share Posted January 30 1 minute ago, AG said: To my knowledge GKP trades on the main market, not the AIM That's a great question. So, what happened is that it initially traded in the main exchange. Now however, it trades on the less known AIM now because it no longer meets the requirements for the Main Exchange. I hope that helps. Link to comment Share on other sites More sharing options...
AG Posted January 30 Share Posted January 30 8 minutes ago, TorontoChaosTheatre said: That's a great question. So, what happened is that it initially traded in the main exchange. Now however, it trades on the less known AIM now because it no longer meets the requirements for the Main Exchange. I hope that helps. Hi, it wasn't really a question but an statement. To my knowledge GKP trades on the Main Market https://www.londonstockexchange.com/stock/GKP/gulf-keystone-petroleum-ltd/company-page Link to comment Share on other sites More sharing options...
gfp Posted January 30 Share Posted January 30 Yeah, Interactive Brokers lists it as LSE, it doesn't appear to be difficult to transact in. Anyone that can execute trades on the LSE should be able to buy some. Or you could try the US OTC listed GUKYF if you can't get access to the LSE. I don't think you are going to find call options, LEAPS or otherwise. Be careful... Link to comment Share on other sites More sharing options...
AG Posted January 30 Share Posted January 30 IBKR does have an issue with many stocks that trade primarily through market makers, mainly in the AIM, because IBKR only trades through the trading book at certain auctions during the day, which makes it less liquid. But that should not be an issue with GKP as the trading service is SETS as per the LSE webpage Link to comment Share on other sites More sharing options...
Gmthebeau Posted January 30 Share Posted January 30 Interactive Brokers usually has access to nearly anything. I have bought really obscure stuff in really obscure countries. Sometimes their platform is strange so you might just want to call them and tell them what you are trying to buy (assuming you have an account there). Link to comment Share on other sites More sharing options...
gfp Posted January 30 Share Posted January 30 I'm curious what the idea is here. Is your thesis that the pipeline that transports oil from kurdistan to turkey will be reopened sometime soon or what? Link to comment Share on other sites More sharing options...
hasilp89 Posted January 30 Share Posted January 30 ditto. pipeline issue seems complicated. Seems to be issues with the iraqi government, reimbursements to kuristan ... but a resolution could be interesting. Paid nearly 100% of current mkt cap in dividends in 2022 (prior to shutdown). no debt. didn't think i'd be watching videos of the american representative of the association of the petroleum industry of kurdistan this afternoon. Link to comment Share on other sites More sharing options...
Gmthebeau Posted January 30 Share Posted January 30 (edited) According to this article they are owed $150 million. No doubt it's very cheap. Lots of political risk though. I would rather buy this than all that Chinese crap people buying. https://www.energyvoice.com/oilandgas/middle-east/exploration-production-middle-east/546439/local-sales-cost-cutting-and-patience-kurdistan-producers-hang-on/ Edited January 30 by Gmthebeau Link to comment Share on other sites More sharing options...
TorontoChaosTheatre Posted January 31 Author Share Posted January 31 Hello everyone, First of all, I am very grateful for the many thoughtful responses and thank you for helping an undergraduate out with how to buy their first ownership stake in a business! I was able to open an account on interactive brokers, and it trades there (I double-checked, and I made an error believing it was harder to trade than it was). 6 hours ago, gfp said: I'm curious what the idea is here. Is your thesis that the pipeline that transports oil from kurdistan to turkey will be reopened sometime soon or what? I wish my thesis were more in-depth. I only started taking accounting classes recently, and from my poor reading and analysis, it is cheap. I have no catalyst or unique analysis indicating why it will cease to be cheap. Only if it has no debt is it hard to go bankrupt. I am also slowly making my way through the footnotes and also need to finish reading the proxy (THIS LEGALESE LANGUAGE IS DENSE, and I am sorta lost, to be frank). My pre-mortem for what could go wrong is that local demand falters. It's high uncertainty and low risk as long as they are profitable. I am publicly committing to selling if that situation changes. 7 hours ago, AG said: Hi, it wasn't really a question but an statement. To my knowledge GKP trades on the Main Market https://www.londonstockexchange.com/stock/GKP/gulf-keystone-petroleum-ltd/company-page Sorry about saying what you said was a question (that's right, it was a statement), and thank you so much for helping me out here with that link. 6 hours ago, hasilp89 said: ditto. pipeline issue seems complicated. Seems to be issues with the iraqi government, reimbursements to kuristan ... but a resolution could be interesting. Paid nearly 100% of current mkt cap in dividends in 2022 (prior to shutdown). no debt. didn't think i'd be watching videos of the american representative of the association of the petroleum industry of kurdistan this afternoon. It is intellectually stimulating. I started rereading Peter Cundill's bio (I am ashamed I forgot about many of the situations). Some of the international situations are epic. But I am sure they were not as clear-cut bargains as they seem in hindsight. Does anyone know where to buy those 1840s unpaid Mississippi bonds? 6 hours ago, Gmthebeau said: According to this article they are owed $150 million. No doubt it's very cheap. Lots of political risk though. I would rather buy this than all that Chinese crap people buying. https://www.energyvoice.com/oilandgas/middle-east/exploration-production-middle-east/546439/local-sales-cost-cutting-and-patience-kurdistan-producers-hang-on/ Thank you for the article. Happy Bargain Hunting! -TorontoChaosTheatre Link to comment Share on other sites More sharing options...
Gmthebeau Posted January 31 Share Posted January 31 15 minutes ago, TorontoChaosTheatre said: Hello everyone, First of all, I am very grateful for the many thoughtful responses and thank you for helping an undergraduate out with how to buy their first ownership stake in a business! I was able to open an account on interactive brokers, and it trades there (I double-checked, and I made an error believing it was harder to trade than it was). I wish my thesis were more in-depth. I only started taking accounting classes recently, and from my poor reading and analysis, it is cheap. I have no catalyst or unique analysis indicating why it will cease to be cheap. Only if it has no debt is it hard to go bankrupt. I am also slowly making my way through the footnotes and also need to finish reading the proxy (THIS LEGALESE LANGUAGE IS DENSE, and I am sorta lost, to be frank). My pre-mortem for what could go wrong is that local demand falters. It's high uncertainty and low risk as long as they are profitable. I am publicly committing to selling if that situation changes. Sorry about saying what you said was a question (that's right, it was a statement), and thank you so much for helping me out here with that link. It is intellectually stimulating. I started rereading Peter Cundill's bio (I am ashamed I forgot about many of the situations). Some of the international situations are epic. But I am sure they were not as clear-cut bargains as they seem in hindsight. Does anyone know where to buy those 1840s unpaid Mississippi bonds? Thank you for the article. Happy Bargain Hunting! -TorontoChaosTheatre I took a position in it today from the OTC pink sheets. I’ll possibly buy more on LSE if I decide to increase position. It’s super cheap. The catalyst would be the pipeline reopening. Link to comment Share on other sites More sharing options...
gfp Posted January 31 Share Posted January 31 Just to make sure I have this right, the approximate market cap of this company is something like $314m USD ? Link to comment Share on other sites More sharing options...
Gmthebeau Posted January 31 Share Posted January 31 8 hours ago, gfp said: Just to make sure I have this right, the approximate market cap of this company is something like $314m USD ? Yes, thats what I am seeing. The article I linked says they are owed $150 from prior oil sales. No debt. Still profitable without the pipeline so far. If pipeline reopens anytime soon they should see a massive profit increase. Link to comment Share on other sites More sharing options...
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