GKP Gulf Keystone Petroleum Ltd

BUDAPEST--MOL Nyrt. (MOL.BU) announced Monday the spud of its exploration well Gulak-1 in the Kurdistan region of Iraq.

MAIN FACTS:

-- Gulak-1 is the fourth exploration well in the Akri-Bijeel Block in Kurdistan, with a planned depth of 3.66 kilometers.

-- MOL holds a 80% share in the block through its local operator Kalegran Ltd. and Gulf Keystone Petroleum International Ltd. (GKP.LN) holds a 20% share.

-- MOL closed up 1.6% at HUF17,190 ($73) Friday.

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