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RNS Number : 7348O
Gulf Keystone Petroleum Ltd.
01 June 2015
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indirectly, in whole or in partin or into the United States or any
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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
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1 June, 2015
Gulf Keystone Petroleum Limited. (LSE: GKP)
("Gulf Keystone" or "the Company")
Appointment of CEO
Following recent press speculation, Gulf Keystone Petroleum
confirms that it is in the process of appointing Jón Ferrier as
CEO. Following a brief transition period, John Gerstenlauer will
retire as CEO and, at the forthcoming Annual General Meeting, as a
Director of the Company. A further announcement will be made in due
course.
Jón Ferrier, (57) will join Gulf Keystone as CEO following three
decades spent in exploration, commercial, strategic and leadership
positions in the oil and gas and mining industries. Mr Ferrier, a
geologist by training, was most recently Senior Vice President
Business Development, Strategy & Commercial at Maersk Oil in
Copenhagen.
He has considerable international experience, including in the
Kurdistan Region of Iraq and has successfully led the delivery of
complex projects on time and within budget in the Middle East. His
most recent roles have been externally oriented and have seen Mr
Ferrier working effectively with all stakeholders, including host
governments.
Prior to Maersk Oil, Mr Ferrier's oil & gas experience was
gained with ConocoPhillips, Paladin Resources PLC,
Petro-Canada/Suncor, in a number of regions. He has a B.SC in
Geology from UCW Aberystwyth and an M.SC awarded with distinction
from the Royal School of Mines, Imperial College in London and has
undertaken executive programmes at IMD, Ivey, Thunderbird and
Harvard.
No information in connection with Mr Ferrier's appointment is
required to be disclosed pursuant to Listing Rule 9.6.13R. Mr
Ferrier is a British Citizen and is married with three grown up
children. He will split his time between London and the Kurdistan
Region of Iraq.
Commenting on today's announcement, Andrew Simon, Interim
Non-Executive Chairman of Gulf Keystone said:
"John Gerstenlauer has been instrumental in the success of Gulf
Keystone to date. He has been with the Company for seven years and
as Chief Operating Officer oversaw the most successful drilling
campaign in the Kurdistan Region of Iraq. On stepping up into the
role of CEO he has ensured Gulf Keystone reached its 40,000 barrels
of oil per day target at the end of 2014. He has also played a
pivotal role in seeing the Company through a number of challenges
over the past year. On behalf of the Board, and everyone at Gulf
Keystone, I thank him sincerely and wish him the very best for his
future once he leaves the Company."
"Jón Ferrier will bring considerable experience to the head of
the Gulf Keystone executive team, and to the Board. We are
confident that a combination of his international operational
expertise and strategic track record, will serve the Company
well."
Enquiries:
Gulf Keystone Petroleum: +44 (0) 20 7514 1400
Anastasia Vvedenskaya, Head of Investor
Relations +44 (0) 7714061410
Celicourt Communications: +44 (0)20 7520 9266
Mark Antelme
Jimmy Lea
or visit: www.gulfkeystone.com
Notes to Editors:
Jón Ferrier Career Summary:
-- Maersk Oil: SVP Business Development and Strategy 2010 - 2015
-- Petro-Canada (Suncor) Syria General Manager 2008 - 2010
-- Petro-Canada London, UK Director, Business Development 2006 - 2008
-- Paladin Resources plc Norway/London Director, Business Development 2003 - 2006
-- ConocoPhillips Moscow, Russia Project Director 2001 - 2003
-- ConocoPhillips London, UK Business Development 1999 - 2001
-- Conoco UK Ltd Aberdeen, UK Strategy & Portfolio Management 1997 - 1999
-- Conoco Norway Inc Stavanger, Norway Geologist 1991 - 1997
-- Conoco Inc Houston, USA Exploration EVP support 1989 - 1990
-- Conoco UK Ltd London, UK Development Geologist 1985 - 1989
-- Anglo American South Africa Exploration Geologist 1979 - 1985
GKP:
-- Gulf Keystone Petroleum Ltd. (LSE: GKP) is an independent oil
and gas exploration and production company 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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