Appointment of Non-Executive Directors

RNS Number : 5234O

Gulf Keystone Petroleum Ltd.

07 August 2014

 



Not for release, publication or distribution, directly or indirectly, in whole or in partin or into the United States or any jurisdiction other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws or regulations of such jurisdiction.  This announcement (and the information contained herein) does not contain or constitute an offer to sell or the solicitation of an offer to purchase, nor shall there be any sale of securities in any jurisdiction where such offer, solicitation or sale would constitute a contravention of the relevant laws or regulations of such jurisdiction.

7 August 2014

Gulf Keystone Petroleum Ltd. (LSE: GKP)

Appointment of Non-Executive Directors

Gulf Keystone Petroleum Limited ("Gulf Keystone" or the "Company") is pleased to announce the appointment of Dr Joseph A. Stanislaw and Mr V Uthaya Kumar to the Board of Gulf Keystone (the "Board") as Non-Executive Directors with immediate effect.

Dr Joseph A. Stanislaw has spent the last three decades as a senior adviser within the energy industry. He was previously President and CEO of Cambridge Energy Research Associates (CERA), the US consulting company specialising in advising governments and private companies on energy markets, geopolitics, industry trends and strategy. Following the sale of CERA in 2004 he founded The JA Stanislaw Group, also an energy advisory business, from where he served as Independent Senior Advisor, Energy and Sustainability, to Deloitte LLP.

Dr Stanislaw is a member of the Council on Foreign Relations. He was a Research Fellow of Clare Hall and a member of the Energy Research Group in the Cavendish Laboratory at Cambridge University. He served as Senior Economist to the Organization of Economic Cooperation and Development's (OECD) International Energy Agency in Paris.

V Uthaya Kumar, a Fellow of the Institute of Chartered Accountants in England and Wales and had a 35 year career with PricewaterhouseCoopers (PwC) before retiring as Senior Partner of PwC South East Asia Peninsula in June 2014. Mr Kumar has worked with international clients in audit, business advisory, mergers & acquisitions, valuations, privatisations and cross border transactions.

There is no further information to be disclosed pursuant to sections LR 9.6.11, LR 9.6.12 or LR 9.6.13 of the Listing Rules, FCA Handbook.

Commenting on today's announcement, Simon Murray, Non-Executive Chairman of Gulf Keystone said:

"We are very pleased to welcome both Dr Stanislaw and Mr Kumar to the Board of Gulf Keystone as independent Non-Executive Directors.  Both bring skillsets honed over long and distinguished careers in their respective fields which complement the existing team and from which I am confident the Company will benefit hugely.

"Dr Stanislaw has provided strategic advice to energy firms at all stages of their development, including on geopolitical and economic issues.  Mr Kumar, as a former senior partner at PwC, brings deep expertise in the disciplines of Risk & Governance, Financial Reporting and Process & Controls.  Furthermore, both new Directors' international perspectives fit well with the Company's geographically diverse equity and debt investor base."

Enquiries:

Gulf Keystone Petroleum:	[phone]
Anastasia Vvedenskaya, Head of Investor Relations
Bell Pottinger	[phone]
Mark Antelme / Henry Lerwill

or visit: www.gulfkeystone.com

Notes to Editors:

·      Gulf Keystone Petroleum Ltd. (LSE: GKP) is an independent oil and gas exploration, development 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, 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 100,000 bopd of production capacity during Phase 1 of the Shaikan Field Development Plan following its approval in June 2013.

Disclaimer:

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.

This communication and the information contained herein is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States unless they are registered or are exempt from registration. Any public offering of securities to be made in the United States would be made by means of a prospectus that would contain detailed information about the company and its management, as well as financial statements. The company does not intend to register any portion of this offering in the United States or to conduct a public offering in the United States or any other jurisdiction. Any public offering of securities to be made in the United States would be made by means of a prospectus that would contain detailed information about the Company and its management, as well as financial statements. Copies of this communication are not being, and should not be, distributed in or sent into the United States.

This communication is directed only at (i) persons who are outside the United Kingdom or (ii) persons who have professional experience in matters relating to investments falling within Article 19(2) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended from time to time (the Order) or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order or (iv) certified high net worth individuals and certified and self-certified sophisticated investors as described in Articles 48, 50, and 50A respectively of the Order or (v) persons to whom this communication may otherwise be lawfully communicated (all such persons together being referred to as relevant persons). Any investment activity to which this communication relates will only be available to and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

This communication is distributed in any member state of the European Economic Area which applies Directive 2003/71/EC (this Directive together with any implementing measures in any member state, the Prospectus Directive) only to those persons who are qualified investors for the purposes of the Prospectus Directive in such member state, and such other persons as this document may be addressed on legal grounds, and no person that is not a relevant person or qualified investor may act or rely on this document or any of its contents.

 

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