Transaction date: May 10
Transaction type: Placing (Co-Broker)
Amount: £114.2 M
Gulf Keystone is an independent company whose objectives are to
explore, develop and produce oil and gas primarily in North Africa
and the Middle East.
The company currently has exploration and appraisal rights over
six blocks and two producing fields totalling approximately 17,600
square kilometres in the Republic of Algeria. Gulf Keystone has
operated in Algeria since 2001 and has in-depth knowledge of the
country's local culture and political and operating
In January 2008, the company received Development Plan approval
for the GKN and GKS oil fields triggering an entitlement to a share
of production effective from 10 October 2007. This is a first for
Gulf Keystone marking our evolution into an exploration and
In November 2007 Gulf Keystone diversified out of its 100%
Algeria focussed position and secured interests in two production
sharing contracts in the Kurdistan Region of Northern Iraq. This
region has the potential to be a world class hydrocarbon province
and Gulf Keystone believes it is well positioned to seek out
further growth opportunities.
Gulf Keystone is quoted on the Alternative Investment Market
(AIM) of the London Stock Exchange. Ticker symbol GKP.
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