Gulf Keystone Petroleum Ltd (LON:GKP) boss Jón Ferrier said he is “strongly encouraged” by the stable performance of the Shaikan field, which is in-line with expectations.
Having reset its finances, with a dilutive debt-for-equity swap, the company is now funded for the next programme of work – which first aims to stabilise output at around 40,000 bopd, before growing to 55,000 bopd.
Cantor Fitzgerald analyst Sam Wahab tells Proactive: ''They're cash flow positive ... I would agree they seem to have turned a corner''
''The results were very pleasing and the share price has obviously reacted well this morning''.