Drilling Update

RNS Number : 1804D

Gulf Keystone Petroleum Ld

11 September 2008

 



Not for release, publication or distribution in or into jurisdictions other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws of such jurisdiction

11 September 2008

Gulf Keystone Petroleum Ltd.

("Gulf Keystone" or "the Company")

Drilling Update FEG-1 Well, Algeria

Gulf Keystone Petroleum Ltd (AIM: GKP), an independent oil and gas exploration company with interests in Algeria and Kurdistan, announces that drilling of the FEG-1 exploration well on the Hassi Ba Hamou Perimeter ("HBH Permit"), has been completed. 

The FEG-1 exploration well was drilled on an untested trap to the southwest of the HBH gas discovery and reached a total depth of 2,746 metres. The FEG-1 well penetrated the target Carboniferous sands but no commercial gas volumes were encountered and the well will be plugged and abandoned.

The rig will now move to the fifth well of a six well commitment on the HBH Permit and drill appraisal well HBH-5 on the HBH gas discovery. This well is expected to spud within a month. No further announcement on the HBH-5 well is expected until the well has been completed. 

Enquiries

Gulf Keystone Petroleum:  Todd Kozel, Executive Chairman	[phone]
Ewen Ainsworth, Chief Financial Officer
RBC Capital Markets:	+ 44 (0) 20 7653 4667
Andrew Smith
Sarah Wharry
Tristone Capital Limited:	[phone]
Simon Ashby-Rudd
Majid Shafiq
Citigate Dewe Rogerson:  Martin Jackson	[phone]
George Cazenove

or visit: www.gulfkeystone.com

 

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