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.
RNS Release - Exercise of Warrants
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.
12 January 2012
Gulf Keystone Petroleum Ltd. (AIM: GKP)
("Gulf Keystone" or "the Company")
Exercise of Warrants
Gulf Keystone has been notified by Mirabaud Securities LLP ('the Warrant Holder') of an exercise of warrants which were issued in lieu of a cash payment for placing fees in respect of the May 2010 fund raising, which entitles the Warrant Holder to subscribe for 761,500 Common Shares of US$0.01 each ('Warrant Shares') at a price of 75p raising £571,125.
The Company has now received payment of £571,125 and has applied for admission of the Warrant Shares to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings in the Warrant Shares will commence at 8.00 a.m. on 17 January 2012. The total number of Common Shares in issue following the issue of the Warrant Shares, and the total number of voting rights, will be 854,879,948.
The above figure of 854,879,948 Common Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Gulf Keystone under the FSA's Disclosure and Transparency Rules.
Enquiries:
Gulf Keystone Petroleum: | +44 (0) 20 7514 1400 |
Todd Kozel, Executive Chairman and Chief Executive Officer | |
Ewen Ainsworth, Finance Director | |
Strand Hanson Limited | +44 (0) 20 7409 3494 |
Simon Raggett / Rory Murphy / James Harris | |
Mirabaud Securities LLP |
+44 (0) 20 7878 3362 |
Peter Krens | |
Pelham Bell Pottinger | +44 (0) 20 7861 3232 |
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 International (GKPI) holds Production Sharing Contracts for fourexploration blocks in Kurdistan.
§ The Company's shares have traded on the AIM market of the London Stock Exchange since listing on 8th September 2004.
§ Gulf Keystone Petroleum Limited is registered in Hamilton, Bermuda with further offices in Erbil, Kurdistan (Iraq), Algiers, Algeria and London, UK.
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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