Shaikan Payment Update

RNS Number : 9561J

Gulf Keystone Petroleum Ltd.

17 April 2020

 

17 April 2020

Gulf Keystone Petroleum Ltd. (LSE: GKP)

("Gulf Keystone", "GKP" or "the Company")

Shaikan Payment Update

Gulf Keystone confirms that a gross payment of $5.9 million ($4.6 million net to GKP) has now been received from the Kurdistan Regional Government ("KRG") for Shaikan crude oil sales during March 2020.

The Company confirms that it has received a proposal from the KRG relating to the payment timing of outstanding invoices for Shaikan crude oil sales during November 2019 to February 2020 inclusively.  GKP understands that the KRG's proposal is in line with those made to other international oil companies operating in Kurdistan. GKP remains in dialogue with the KRG and will update the market further as and when appropriate.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

Enquiries:

Celicourt Communications:	+ 44(0) 20 8434 2754
Mark Antelme Jimmy Lea

or visit: www.gulfkeystone.com  

Notes to Editors:

Gulf Keystone Petroleum Ltd. (LSE: GKP) is a leading independent operator and producer in the Kurdistan Region of Iraq. Further information on Gulf Keystone is available on its website  www.gulfkeystone.com

Disclaimer

This announcement contains certain forward-looking statements that are subject to the risks and uncertainties associated with the oil & gas exploration and production business.  These statements are made by the Company and its Directors in good faith based on the information available to them up to the time of their approval of this announcement but such statements should be treated with caution due to inherent risks and uncertainties, including both economic and business factors and/or factors beyond the Company's control or within the Company's control where, for example, the Company decides on a change of plan or strategy.  This announcement has been prepared solely to provide additional information to shareholders to assess the Group's strategies and the potential for those strategies to succeed.  This announcement should not be relied on by any other party or for any other purpose.

 

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