TIDMGKP

RNS Number : 9100E

Gulf Keystone Petroleum Ltd.

03 March 2020

03 March 2020

Gulf Keystone Petroleum Ltd. (LSE: GKP)

("Gulf Keystone", "GKP" or "the Company")

Transaction in Own Shares

Gulf Keystone Petroleum, a leading independent operator and producer in the Kurdistan Region of Iraq, announces that it has made the following redemptions pursuant to the share buyback programme (the "Buyback Programme") announced on 10 December 2019.

 
 Date of purchase                            03 March 2020 
 Number of common shares purchased           235,000 
 Highest price paid per common share         153.20 pence 
 Lowest price paid per common shares         151.80 pence 
 Volume weighted average price per common    152.77 pence 
  share 
 

As announced on 10 December 2019, the Company will use existing cash resources to make market purchases of common shares for a maximum consideration of $25 million. The initial amount of $15 million of the programme has been completed. Further to the announcement on 21 January 2020, purchases of the final amount of $10 million has commenced. Under the programme, the Company has purchased 8,812,667 common shares for a total value of $21.92 million to date.

Notification of total voting rights in accordance with the FCA's Disclosure and Transparency Rules provision 5.6.1R.

Following the repurchase of the shares set out above the Company's issued share capital consists of 212,470,079 common shares plus 16,959,487 common shares held in Treasury.

The above figure of 212,470,079 may be used by shareholders 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 FCA's Disclosure and Transparency Rules. The Company will make further announcements in due course following the completion of any further purchases pursuant to the Programme.

In accordance with Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014 details of the purchase of its own common shares by the Company, which were all executed through the Company's broker, Canaccord Genuity Limited, are set out below:

Individual transactions:

 
 Number of shares   Transaction price    Time of transaction   Trading venue 
     purchased       (pence per share) 
                                                               London Stock 
      73,282              153.20              08:25:18            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       2,599              153.20              10:39:12            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       2,401              153.20              10:44:41            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       1,720              153.20              11:12:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       3,280              153.20              11:12:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       3,336              153.20              11:12:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       1,664              153.20              11:12:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       1,672              153.20              11:12:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        139               153.20              11:12:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        455               153.20              11:26:03            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       4,406              153.20              11:26:03            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        455               153.20              11:26:03            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        232               153.20              11:26:03            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       2,641              153.20              11:26:03            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       2,789              153.00              09:26:05            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       2,211              153.00              09:26:05            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       2,211              153.00              09:26:05            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       2,010              153.00              09:26:05            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       5,000              153.00              11:44:00            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       5,000              153.00              11:44:00            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       5,000              153.00              11:44:00            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       1,262              153.00              11:44:14            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       1,025              153.00              11:44:14            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       2,713              153.00              11:44:14            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       1,025              153.00              11:44:14            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       2,713              153.00              11:44:14            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        488               152.80              15:08:54            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       4,512              152.80              15:08:54            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       5,000              152.80              15:08:54            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       1,718              152.80              15:08:54            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       5,000              152.60              09:06:17            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        779               152.60              09:06:17            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       4,221              152.60              09:06:17            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        779               152.60              09:06:17            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        277               152.60              09:06:25            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       4,723              152.60              09:06:25            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       5,000              152.60              12:48:10            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        161               152.60              12:48:10            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       4,839              152.60              12:48:10            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       1,318              152.60              12:48:10            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        161               152.60              12:48:10            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       4,839              152.60              12:48:10            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       4,839              152.60              12:48:10            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        161               152.60              12:48:10            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       3,682              152.60              12:49:59            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       1,106              152.40              12:02:25            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        156               152.40              12:02:25            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       4,400              152.00              13:05:35            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        600               152.00              13:05:35            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       1,486              152.00              13:05:35            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       1,486              152.00              13:05:35            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       1,486              152.00              13:05:35            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        542               152.00              13:05:35            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        944               152.00              13:05:35            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        549               152.00              13:05:35            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        157               152.00              13:05:35            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       4,294              152.00              13:05:35            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       5,000              152.00              13:05:49            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       4,056              152.00              13:13:12            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        193               151.80              13:44:00            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        113               151.80              13:44:00            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        712               151.80              13:44:00            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       3,982              151.80              13:44:00            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        825               151.80              13:44:00            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        765               151.80              13:44:00            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       4,235              151.80              13:44:00            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       1,348              151.80              13:44:00            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       3,200              151.80              13:44:00            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       1,671              151.80              13:44:00            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        129               151.80              13:44:00            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       1,542              151.80              13:44:00            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       2,192              151.80              14:47:12            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       2,808              151.80              14:49:01            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       1,285              151.80              14:49:01            Exchange 
                   -------------------  --------------------  -------------- 
 

Enquiries:

 
 
 Celicourt Communications:    + 44(0) 20 8434 2754 
 Mark Antelme 
  Jimmy Lea 
 

or visit: www.gulfkeystone.com

Notes to Editors:

Gulf Keystone Petroleum Ltd. (LSE: GKP) is a leading independent operator and producer in the Kurdistan Region of Iraq. Further information on Gulf Keystone is available on its website www.gulfkeystone.com

Disclaimer

This announcement contains certain forward-looking statements that are subject to the risks and uncertainties associated with the oil & gas exploration and production business. These statements are made by the Company and its 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 risks and uncertainties, including both economic and business factors and/or factors beyond the Company's control or within the Company's control where, for example, the Company decides on a change of plan or strategy. 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 information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

POSDXLFBBXLLBBD

(END) Dow Jones Newswires

March 03, 2020 12:45 ET (17:45 GMT)

Gulf Keystone Petroleum (LSE:GKP)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Gulf Keystone Petroleum Charts.
Gulf Keystone Petroleum (LSE:GKP)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Gulf Keystone Petroleum Charts.