Gulf Keystone Petroleum Ltd. Payment and Operational Update (8488N)
14 August 2017 - 4:00PM
UK Regulatory
TIDMGKP
RNS Number : 8488N
Gulf Keystone Petroleum Ltd.
14 August 2017
August 14, 2017
Gulf Keystone Petroleum Ltd. (LSE: GKP)
("Gulf Keystone", "GKP" or "the Company")
Payment and Operational Update
Gulf Keystone confirms that it has been notified by the
Kurdistan Regional Government that a gross payment of $15.0 million
($12.0 million net to GKP) has been authorised for Shaikan crude
oil export sales for April 2017. Gulf Keystone will make a further
announcement confirming receipt of payment.
On August 8(th) , cumulative production from the Shaikan field
reached 40 million barrels; another important milestone for the
Company. The Shaikan Field continues to perform in line with
expectations with an average daily production of 36,671 barrels of
oil per day during the first half of 2017. Gulf Keystone remains on
course to achieve its previous gross production guidance of between
32,000 - 38,000 bopd for the full year.
Commenting on today's announcement, CEO, Jón Ferrier, said:
"Safe and reliable operations remains a strategic priority and
we continue to be strongly encouraged by the stable performance of
the Shaikan Field during 2017. I am also pleased to report that GKP
recently achieved two years with no Lost-time-incidents ("LTI"), a
testament to the quality of our field operations."
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
Enquiries:
Gulf Keystone Petroleum: +44 (0) 20 7514 1400
Jón Ferrier, CEO
Sami Zouari, CFO
Celicourt Communications: +44(0) 20 7520 9266
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
and the operator of the Shaikan field with current production
capacity of 40,000 barrels of oil per day
-- 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 company news service from the London Stock Exchange
END
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