Holding(s) in Company

Gulf Keystone Petroleum Ld
31 October 2006

LETTER TO: GULF KEYSTONE PETROLEUM LTD
DATED: 30TH OCTOBER 2006

Re : GULF KEYSTONE PETROLEUM LTD

In accordance with the provisions of Section 198 of the Companies Act 1985 as
amended by the Disclosure of Interest in Shares (Amendment) Regulations 1993, we
write to inform you that VIDACOS NOMINEES LTD A/C 2303 no longer has a
reportable interest in your company by virtue of a purchase of 300,000 shares at
GBP .59 and subsequent sales of 350,000 at GBP .585, 665,997 at GBP .59 and 
600,000 at GBP .5938 on 19th October 2006. As a result, the current position is
now as follows:

Registered holder name / custodian:    VIDACOS NOMINEES LTD A/C 2303
Beneficial owner name:                 Alphagen Volantis Prime Brokerage
Fund Manager name:                     Gartmore Investment Limited
Amount of holding:                     7,200,000 Ordinary USD0.01 shares
Percentage holding:                    2.61%

These shares are held by Gartmore Investment Limited for investment purposes 
only, on behalf of the client/fund. The percentage holding is based on the 
number of shares in issue, 275,480,140 as supplied to us by Extel Financial 
Limited.

FROM: GARTMORE INVESTMENT LIMITED



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