Update on move to Official List of the LSE

RNS Number : 7372F

Gulf Keystone Petroleum Ltd.

29 May 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.

29 May, 2013

Gulf Keystone Petroleum Ltd. (AIM: GKP)

("Gulf Keystone" or "the Company")

Update on move to Official List of the London Stock Exchange

Gulf Keystone is pleased to provide an update on its intention to move from AIM to the Premium Segment of the Official List of the London Stock Exchange.  The Company will initially make an application for the Common Shares of the Company to be admitted to the Standard Segment of the Official List. The Company intends to apply for a Premium Segment Listing when it meets all the necessary regulatory requirements.

As part of the previously announced proposed move to the Official List, and in keeping with the corporate governance best practice of the Official List, the Board of Gulf Keystone has decided to split the roles of Chairman and Chief Executive Officer. A search process has commenced for an Independent Non-Executive Chairman of the Board, as well as for at least one other Independent Non-Executive Director.

Todd Kozel, Executive Chairman and CEO, commented:

"AIM has served Gulf Keystone well, however, for some time we have been of a size where we would be better suited to the Main Market.  Consequently the splitting of my role as CEO with that of an Independent Non-Executive Chairman further signals Gulf Keystone's continuing commitment to high standards of corporate governance in preparation for our previously announced proposed move to the Official List.

"We look forward to keeping shareholders posted on our proposed Board changes and welcoming a new Chairman over the coming months."

Enquiries:

Gulf Keystone Petroleum:	[phone]
Ewen Ainsworth, Finance Director
Anastasia Vvedenskaya, Investor Relations
Strand Hanson Limited	[phone]
Simon Raggett / Rory Murphy / James Harris
Mirabaud Securities LLP	[phone]
Peter Krens
Pelham Bell Pottinger	[phone]
Mark Antelme / Henry Lerwill

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.

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

§ 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.

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

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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