Update on timing of the Board's recommendation

RNS Number : 0384J

Gulf Keystone Petroleum Ltd.

10 July 2013

 



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

10 July 2013

Gulf Keystone Petroleum Ltd. (AIM: GKP)

("Gulf Keystone" or "the Company")

Meeting with M&G and update on timing of the Board's recommendation

Gulf Keystone is pleased to announce that senior representatives of the M&G Recovery Fund ("M&G") have agreed to meet with members of the Company's Nominations Committee, on the afternoon of Friday 12 July 2013, to discuss the four candidates proposed by M&G as directors (the "Proposed Directors"). Simon Murray, the Company's Independent Non-Executive Chairman, will lead the meeting on behalf of Gulf Keystone.

In light of this welcome development, the board of Gulf Keystone (the "Board") has, in the best interests of the Company's shareholders ("Shareholders"), decided to delay publication of its RNS and circular, recommending to Shareholders what action to take with regard to the Proposed Directors, pending the outcome of the meeting with M&G.

The Company will update Shareholders following the meeting with M&G, and by no later than close of business on Monday 15 July 2013, which will still give sufficient time for all Shareholders to review the Board's recommendation and vote accordingly.

In the meantime, the Board continues to strongly urge all Shareholders not to vote, or fill in their Forms of Proxy, until they have reviewed the Board's recommendation on the Proposed Directors.

Enquiries:

Gulf Keystone Petroleum:	[phone]
Todd Kozel, Chief Executive Officer
Simon Murray, Non-Executive Chairman
Anastasia Vvedenskaya, Investor Relations
Strand Hanson Limited	[phone]
Stuart Faulkner / James Harris / Rory Murphy
Mirabaud Securities LLP	[phone]
Peter Krens
Pelham Bell Pottinger	[phone]
Mark Antelme / Henry Lerwill

or visit: http://www.gulfkeystone.com/ 

Notes to Editors:

§ Gulf Keystone Petroleum Ltd. (AIM: GKP) is an independent oil and gas exploration and production company focused on exploration in the Kurdistan Region of Iraq.

§ Gulf Keystone Petroleum International (GKPI) holds Production Sharing Contracts for four exploration blocks in Kurdistan, including the Shaikan, Sheikh Adi, Ber Bahr and Akri-Bijeel blocks.

§ GKPI is the Operator of the Shaikan Block, which is a major commercial discovery, with a working interest of 75% and is partnered with Kalegran Ltd. (a 100% subsidiary of MOL Hungarian Oil and Gas plc.) and Texas Keystone Inc., which have working interests of 20% and 5% respectively.  Texas Keystone Inc. holds its interest in trust for Gulf Keystone, pending transfer of its interest to the Company.

§ Gulf Keystone is moving into the large-scale phased development of the Shaikan field targeting 150,000 barrels of oil per day of production within three years, following the approval of the Shaikan Field Development Plan, announced on 26 June 2013.

Disclaimer

Not for release, publication or distribution, directly or indirectly, in or into the United States or jurisdictions other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws of such jurisdiction.  This announcement(and the information contained herein) does not contain or constitute an offer of securities for sale, or solicitation of an offer to purchase securities, in the United States or jurisdictions other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws of such jurisdiction. The securities referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States unless the securities are registered under the Securities Act, or an exemption from the registration requirements of the Securities Act is available.  No public offering of the securities will be made in the United States.

 

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