Response to Speculation

RNS Number : 0343D

Gulf Keystone Petroleum Ltd.

10 May 2012

 



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 May 2012

Gulf Keystone Petroleum Ltd. (AIM: GKP)

("Gulf Keystone" or "the Company")

Response to Speculation

Gulf Keystone notes the continued and unfounded speculation on various bulletin boards and other social media sites regarding an alleged planned placing of the Company's shares at 160p per share.

Gulf Keystone does not normally comment on such unfounded speculation. However, due to the damaging and misleading nature of these various comments which have been posted on bulletin boards and other social media sites during the past 24 hours, the Company feels it must respond.

Accordingly, Gulf Keystone is pleased to confirm categorically that it has no current intention of undertaking an institutional fundraising.

The Company is also pleased to confirm that the process regarding the sale of its 20% stake in the Akri-Bijeel block in the Kurdistan Region of Iraq, is continuing and negotiations are ongoing with several interested bidders. The Company will issue further updates as appropriate.

The Company is currently taking legal advice with regard to the continued and unfounded speculation on various bulletin boards and other social media sites and will be taking all available legal action to prevent further repetition of similar speculative comments on bulletin boards and other social media sites.

Todd Kozel, Executive Chairman and Chief Executive Officer, commented:

"We are working hard to create shareholder value via the continuing 2012/2013 exploration and appraisal programme on our world-class assets in the Kurdistan Region of Iraq. We will not tolerate malicious attempts to damage the Company's reputation and share price.  We have instructed the Company's lawyers to use all means necessary to protect our shareholders from this malicious and unfounded attack."

Enquiries:

Gulf Keystone Petroleum:	[phone]
Investor Relations and Communications
Strand Hanson Limited	[phone]
Simon Raggett / Rory Murphy / James Harris
Mirabaud Securities LLP	[phone]
Peter Krens
Pelham Bell Pottinger	[phone]
Mark Antelme

or visit: 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 Limited is registered in Hamilton, Bermuda with further offices in Erbil, Kurdistan (Iraq), Algiers, Algeria and London, UK.

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

§ Shaikan is a major discovery with independently audited gross oil-in-place volumes of between 8 billion barrels to 13.4 billion barrels calculated on the P90 to P10 basis, with a mean value of 10.5 billion barrels.

§ The Company's shares have traded on the AIM market of the London Stock Exchange since listing on 8^th September 2004.

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 document (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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