LSE:GKP

Update on Shaikan Field local sales & Notice of 2023 Full Year Results

Retrieved on: 
Wednesday, March 13, 2024
GMT, GKP, Kurdistan Region, Gulf Keystone Petroleum

Gulf Keystone, a leading independent operator and producer in the Kurdistan Region of Iraq, is today providing an update on Shaikan Field local sales ahead of its 2023 Full Year Results on 21 March 2024.

Key Points: 
  • Gulf Keystone, a leading independent operator and producer in the Kurdistan Region of Iraq, is today providing an update on Shaikan Field local sales ahead of its 2023 Full Year Results on 21 March 2024.
  • The increase has brought gross average sales in 2024 year to date to c.29,600 bopd.
  • The Company continues to receive advance payments for its net entitlement of 36% of gross sales revenue.
  • The Company confirms it will be announcing its results for the full year ended 31 December 2023 on Thursday 21 March 2024.

Director / PDMR Shareholding

Retrieved on: 
Thursday, February 15, 2024

Mr Gabriel Papineau-Legris, Chief Commercial Officer, purchased 20,000 common shares in Gulf Keystone Petroleum Limited on 14 February 2024 at a price of 96.2512p per common share.

Key Points: 
  • Mr Gabriel Papineau-Legris, Chief Commercial Officer, purchased 20,000 common shares in Gulf Keystone Petroleum Limited on 14 February 2024 at a price of 96.2512p per common share.
  • In total, when added to shares previously held, Mr Papineau-Legris owns 420,000 common shares in the Company representing 0.19% of the issued share capital.

Operational & Corporate Update

Retrieved on: 
Monday, February 5, 2024
KRG, Kurdistan Region, Government, G&A, GKP, Environment, Safety, Economics, GOI, Big, Gulf Keystone Petroleum

Gulf Keystone, a leading independent operator and producer in the Kurdistan Region of Iraq (“Kurdistan”), today provides an operational and corporate update.

Key Points: 
  • Gulf Keystone, a leading independent operator and producer in the Kurdistan Region of Iraq (“Kurdistan”), today provides an operational and corporate update.
  • The information contained in this announcement has not been audited and may be subject to further review.
  • By adapting to the new environment and commencing sales to the local market we have been able to protect our business and balance sheet.
  • We continue to engage with government stakeholders to push for the restart of exports and payment surety for past and future sales.

Management & Board changes

Retrieved on: 
Monday, February 5, 2024
COVID-19, CFO, Senior, Kurdistan Region, GKP, Retirement, ITP, Information technology, Annual general meeting, AGM, Gulf Keystone Petroleum, Management

Martin Angle, Chairman of the Company, said: "On behalf of the Board, I would like to thank Ian for his substantial contribution over the past four years.

Key Points: 
  • Martin Angle, Chairman of the Company, said: "On behalf of the Board, I would like to thank Ian for his substantial contribution over the past four years.
  • We wish Ian well for his deserved retirement and welcome Gabriel as the new CFO and Board member."
  • Kimberley Wood, who is currently the Senior independent Director, has advised the company she will be resigning from the Board.
  • Kimberley has recently accepted an executive appointment and is therefore required to reduce her Board commitments in order to meet the corporate governance guidance.

PDMR Transfer of Shareholding

Retrieved on: 
Tuesday, December 26, 2023
Gulf Keystone Petroleum, Bank, Security (finance)

Gulf Keystone has been notified that on 16 November 2023 Ian Weatherdon, Chief Financial Officer, transferred 628,935 common shares in the Company to a personal investment account at a price of 135p per common share.

Key Points: 
  • Gulf Keystone has been notified that on 16 November 2023 Ian Weatherdon, Chief Financial Officer, transferred 628,935 common shares in the Company to a personal investment account at a price of 135p per common share.
  • The total number of common shares that Ian Weatherdon has an interest in remains unchanged at 679,047 common shares, representing 0.30% of the issued share capital of the Company.

Operational & Corporate Update

Retrieved on: 
Thursday, December 14, 2023
Economy of Kurdistan Region, Production, KRG, Petroleum industry, Economics, Kurdistan Regional Government, GKP, UK Corporate Governance Code, AGM, G&A, Federal government of Iraq, Kurdistan Region, National Energy Board, Gulf Keystone Petroleum, Production sharing agreement, Oil

Gulf Keystone, a leading independent operator and producer in the Kurdistan Region of Iraq, today provides an operational and corporate update.

Key Points: 
  • Gulf Keystone, a leading independent operator and producer in the Kurdistan Region of Iraq, today provides an operational and corporate update.
  • Jon Harris, Gulf Keystone’s Chief Executive Officer, said:
    “We remain focused on preserving liquidity by maximising local sales, maintaining strict cost control and proactively managing accounts payable.
  • It is currently engaged in an independent non-executive director search process to ensure compliance.
  • However, the pace of the process has been controlled to reflect the Company’s current focus on cost reduction and liquidity preservation.

Block Listing Six Monthly Return

Retrieved on: 
Tuesday, November 7, 2023
Cryptocurrency, Bookkeeping

Balance of unallotted securities under scheme(s) from previous return:

Key Points: 

Balance of unallotted securities under scheme(s) from previous return:
Equals: Balance under scheme(s) not yet issued/allotted at end of period:

Update on Shaikan Field local sales

Retrieved on: 
Monday, September 25, 2023
Gulf Keystone Petroleum, Transport, Kurdistan Region, Water, GKP, Oil, Drug

At current volumes and prices, more than covering current monthly costs of $6 million

Key Points: 
  • At current volumes and prices, more than covering current monthly costs of $6 million
    Gulf Keystone, a leading independent operator and producer in the Kurdistan Region of Iraq (“Kurdistan”), is today providing an update on Shaikan Field local sales.
  • Since closure of the export pipeline and subsequent commencement of local sales on 19 July 2023, gross average monthly local sales of Shaikan crude have steadily increased: c.4,900 bopd in July, c.17,200 bopd in August and c.28,800 bopd between 1-24 September.
  • Following recent agreements with buyers, GKP has ceased trucking operations and is injecting all crude sales into the pipeline for transportation to a local refinery in Kurdistan.
  • Current local sales volumes and realised prices enable GKP to more than cover its estimated monthly costs of around $6 million in H2 2023, while strengthening its financial position.

Operational & Corporate Update

Retrieved on: 
Wednesday, August 9, 2023
Kurdistan Regional Government, PF-1, Economy of Kurdistan Region, KBT, Half-year convention, G&A, Big, Gulf Keystone Petroleum, Public expenditure, IOC, GKP, KRG, Kurdistan Region, Whaling, Cryptocurrency, Gasoline

In advance of the publication of its 2023 Half Year Results on 31 August 2023, Gulf Keystone, a leading independent operator and producer in the Kurdistan Region of Iraq (“KRI” or “Kurdistan”), is today providing an update on operational and corporate activity.

Key Points: 
  • In advance of the publication of its 2023 Half Year Results on 31 August 2023, Gulf Keystone, a leading independent operator and producer in the Kurdistan Region of Iraq (“KRI” or “Kurdistan”), is today providing an update on operational and corporate activity.
  • As political negotiations continue, we remain focused on what is within our control to preserve and bolster liquidity.
  • We are actively pursuing additional local sales opportunities, although pricing and volumes remain unpredictable.
  • At the same time, we are continuing to reduce our costs, pursue inventory sales and proactively manage our accounts payable.