Holding(s) in Company

Gulf Keystone Petroleum Ld
26 January 2007

LETTER TO: Gulf Keystone Petroleum 
DATED:     12 January 2007


Reporting of Outstanding Share Ownership

This letter is filed on behalf of OppenheimerFunds, Inc ("OFI"), its parent
company, Mass Mutual Life Insurance Co. ("MML") and its clients for the purpose 
of reporting the ownership of shares of GULF KEYSTONE PETROLEUM ("Company").
OFI is an investment adviser registered under the US Investment Advisers Act 
of 1940 that provides investment advice to various mutual funds and other 
accounts ("OFI Clients"). The shares of the Company are held by OFI on behalf 
of various OFI Clients only for investment purposes. Neither OFI nor OFI Clients
exercises or intends to exercise control over the company.

Pursuant to the regulations, the following information is provided with respect
to OFI and its share ownership of the Company:

Address:              6803 S. Tueson ay
                      Centennial, CO 80112-3924

Type of entity:       Corporation

State and Country
Of Organization:      Colorado, USA

Nature of Interest:   OFI holds all shares attributed to it solely in its 
                      capacity as investment adviser to OFI Clients 

                      OFI has no economic interest (e.g., the right to dividends
                      or proceeds from sale) in the Company's shares OFI 
                      generally has the right to vote shares of portfolio 
                      companies held on behalf of OFI Clients.

Percentage Ownership: As of the close of business 01/10/2007, MML had voting
                      and/or dispositive power with respect to an aggregate
                      of 17,000,000 shares of the Company's Common Stock on
                      behalf of various MML Clients. Our records indicate that
                      MML currently holds 6.14% of the outstanding shares of the 
                      Company on behalf of MML Clients. The above percentage was 
                      calculated based on our understanding that the Company has 
                      276,755,108 shares of Common Stock outstanding.

We trust that this notice satisfies our requirements. 


LETTER FROM: OppenheimerFunds Inc


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