Source - RNS
RNS Number : 2526L
Gulf Keystone Petroleum Ltd.
29 September 2016


Not for release, publication or distribution, directly or indirectly, in whole or in part in 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.





29 September 2016


Gulf Keystone Petroleum Ltd. (LSE: GKP)

("Gulf Keystone", "GKP" or "the Company")


Shaikan Payment Update


Gulf Keystone confirms today that a gross payment of $15.0 million has been received from the Kurdistan Regional Government ("KRG") for Shaikan crude oil export sales in July 2016.


Gulf Keystone and the KRG's Ministry of Natural Resources ("MNR") continue to work towards agreeing the final form of the May, June, and July 2016 invoices in parallel with the negotiation and finalisation of the Second Amendment to the Shaikan Production Sharing Contract ("Second Shaikan Amendment"), as per the Bilateral Agreement between the Company and the MNR announced on 17 March 2016.


Following receipt of the payment, the Company's current cash position is $79.6 million.





Gulf Keystone Petroleum:

+44 (0) 20 7514 1400

Jón Ferrier, CEO

Sami Zouari, CFO

Anastasia Vvedenskaya, Head of Investor Relations

+44 (0) 20 7514 1411

Celicourt Communications:

+44(0) 20 7520 9266

Mark Antelme

Jimmy Lea



or visit: 



Notes to Editors:


·           Gulf Keystone Petroleum Ltd. (LSE: GKP) is a leading independent operator and producer in the Kurdistan Region of Iraq and the operator of the Shaikan field with current production capacity of 40,000 barrels of oil per day

·           Further information on Gulf Keystone is available on its website





This announcement contains certain forward-looking statements.  These statements are made by the Company's Directors in good faith based on the information available to them up to the time of their approval of this announcement but such statements should be treated with caution due to inherent uncertainties, including both economic and business factors, underlying such forward-looking information.  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 information is provided by RNS
The company news service from the London Stock Exchange

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