Gulf Keystone Petroleum is currently digging for oil in Iraq’s Kurdish region at a well called the Shaikan-1 exploration.

For the past few months the share has gone from 0.05p back in March 09 to a year high of £1.24 just recently.  The share is currently trading at £0.9650

The reason for the very large jump is due to them finding oil and estimate to have found upto $4 Billion barrells of oil.  They are still at the early stages of their drilling as they still have 3 other very large sites to drill and no doubt they will find more oil.

Another similar company which has had similar success is Heritage Oil (Hoil) currently trading at £5.41 which are following a very similar pattern and alot of investors are predicting similar levels for Gulf Keystone.

There are also several rumours spreading around of a possible takeover from the Chinese as they are rich hungry for Oil due to their ever increasing growth and have been rumoured to be in talks with GKP with a possible take over bid, but nothing has been annouced.

This share has been heavily discussed the past month on many discussion boards as the best share to be in as anyday soon this could be the share that could make anyone a great return on their investment especially if they keep finding more oil.

So to wrap up put Gulf Keystone on your watch list or make sure your not out of this share as any day soon this will rocket.

Currently the target price is £1.75

As with all my share tips please do your own research

Nationwide report that a 1.2% jump between April and May saw the annual decline reduce from 15% to 11.3%.  This annoucment rose UK house builder stocks higher on Friday.  Taylor Wimpey stocks went from a day low of 30p on friday to todays high of  35.45p after the news was released.  up 7.31% today so far as of 16:25.

Over the weekend the FT report that top london estate agents are seeing the return of Gazumping.  It seems that the amount of cash buyers is the highest the market has ever seen.  A report in the FT says that 45% of sales over £5m in London were cash buyers last month.  This has doubled since levels from 2006 and 2007.  The usual levels are a third compared to last months 45%.

It would look like that alot of the cash buyers are from overseas investors taking advantage of the low sterling rate.  The outlook is still bleak for first time buyers as it is still difficult to get a mortgage as individuals worry about their future employment status.

Some speculate that there is a lack of supply on the market.  But the FT says “stock levels may be falling not because demand is soaking up inventory quickly, but because so few homeowners want to put their property on the market.”