Gulf Keystone Petroleum Ltd. Operational Update and Notice of Results (7314U)
July 31 2015 - 7:05AM
UK Regulatory
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RNS Number : 7314U
Gulf Keystone Petroleum Ltd.
31 July 2015
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.
31 July 2015
Gulf Keystone Petroleum Ltd. (LSE: GKP)
("Gulf Keystone" or "the Company")
Shaikan Operational Update and Notice of Results
Gulf Keystone, the operator of the world class Shaikan field in
the Kurdistan Region of Iraq, announces that all production and
truck loading operations currently continue without interruption at
both Shaikan production facilities (PF-1 and PF-2) in a safe and
secure manner.
On 29 July 2015, production totalled 43,700 barrels with 39,500
barrels (240 trucks) loaded by a domestic offtaker for onward sale.
As announced on 9 July 2015, the Company continues to implement its
diversified marketing strategy. Under a direct contract with the
domestic offtaker, Shaikan crude oil is delivered by truck from the
Company's production facilities to the Turkish coast. In addition,
following the request of the Kurdistan Regional Government's
Ministry of Natural Resources ("MNR"), the Company has commenced
trucking Shaikan crude 120 km to Fyshkhabour on the Turkish border
for injection into the export pipeline to Ceyhan in Turkey. These
deliveries are expected to resume once the temporary shutdown of
the Kirkuk-Ceyhan pipeline in Turkey has been rectified.
The Company continues to receive regular monthly payments direct
from the domestic offtaker, while progressing the dialogue with the
MNR regarding the payment mechanism for export sales via the
pipeline and payments for past crude oil sales and other
arrears.
Gulf Keystone also confirms today that the Company's half year
results for the period ended 30 June 2015 will be announced on
Thursday 27 August 2015.
A live webcast of the presentation to analysts will be available
at 10:30am (BST) on the Company's website www.gulfkeystone.com.
Enquiries:
Gulf Keystone Petroleum: +44 (0) 20 7514 1400
Jón Ferrier, CEO
Anastasia Vvedenskaya, Head of Investor
Relations +44 (0) 20 7514 1411
Celicourt Communications: +44 (0) 20 7520 9266
Mark Antelme
Jimmy Lea
or visit: www.gulfkeystone.com
Notes to Editors:
-- Gulf Keystone Petroleum Ltd. (LSE: GKP) is an independent oil
and gas exploration with operations in the Kurdistan Region of
Iraq.
-- Gulf Keystone Petroleum International (GKPI) holds Production
Sharing Contracts for four exploration blocks in Kurdistan, 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% and is
partnered with MOL Kalegran Limited (a 100% subsidiary of MOL
Hungarian Oil and Gas plc.) and Texas Keystone Inc., which have
working interests of 20% and 5% respectively.
-- Gulf Keystone plans to move into the large-scale phased
development of the Shaikan field targeting 100,000 bopd of
production capacity during Phase 1 of the Shaikan Field Development
Plan.
Disclaimer
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 communication and the information contained herein is not
an offer of securities for sale in the United States. Securities
may not be offered or sold in the United States unless they are
registered or are exempt from registration. Any public offering of
securities to be made in the United States would be made by means
of a prospectus that would contain detailed information about the
company and its management, as well as financial statements. The
company does not intend to register any portion of this offering in
the United States or to conduct a public offering in the United
States or any other jurisdiction. Any public offering of securities
to be made in the United States would be made by means of a
prospectus that would contain detailed information about the
Company and its management, as well as financial statements. Copies
of this communication are not being, and should not be, distributed
in or sent into the United States.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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