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Additional Information
Market: AIM
Sector: Energy
EPIC: GKP
Latest Price: 200.00p  (-0.99% Descending)
52-week High: 450.00p
52-week Low: 87.00p
Market Cap: 1,752.36M
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Gulf Keystone Petroleum Ltd.
www.gulfkeystone.com

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. It holds a majority working interest in the Shaikan, Sheikh Adi and Ber Bahr exploration blocks and a further interest in the Akri-Bijeel block. Gulf Keystone is the Operator of the Shaikan and Sheikh Adi Production Sharing Contracts. Following a major discovery at Shaikan in 2009 and a discovery at Akri-Bijeel in 2010, the Company is undertaking an ambitious 2011-2012 exploration and appraisal programme across the four adjacent blocks. Gulf Keystone is also focused on continuing domestic oil sales and increasing oil export operations in order to move towards the Company’s production target of over 5,000 barrels of oil per day (“bopd”), increasing to 10,000 bopd thereafter. 

Full Gulf Keystone Petroleum Ltd. profile here
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Gulf Keystone Petroleum hires corporate advisors to assist in Akri-Bijeel stake sale

9th Feb 2012, 7:32 am by Jamie Ashcroft The Bijell discovery, by MOL’s estimates, contains 2.4 billion barrels oil-in-place.

Gulf Keystone Petroleum (LON:GKP) has hired joint corporate advisers to assist with the Akri-Bijeel stake sale.

Strand Hanson Ltd and Perella Weinberg Partners will be jointly responsible for coordinating and advising the company on the proposed sale of its 20 per cent interest in the Akri-Bijeel block, in the Kurdistan region of northern Iraq.

The block is operated by a subsidiary of Hungary’s MOL Hungarian Oil and Gas Plc, which owns the remaining 80 per cent interest.

The Bijell discovery, by MOL’s estimates, contains 2.4 billion barrels oil-in-place.  And ongoing exploration and appraisal work programme is targeting existing and identified hydrocarbon prospects in the Akri-Bijeel block.

Gulf Keystone announced its plans to sell the Akri-Bijeel stake in September, as part of a broader strategy for the company’s future development.

It also comes after a brisk round of consolidation of the emerging Kurdistan oil industry last year.  

The period also saw Vallares, then a £2 billion vehicle for Hayward and City financier Nat Rothschild, merge with Turkish firm Genel, one of the leading players in Kurdistan. Afren (LON:AFR) and Petroceltic (LON:PCI) also inked deals in the region.

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