2008 Results Announcement
17/6/2009
Gulf Keystone Petroleum Limited (AIM: GKP), today announces its results for the year ended 31 December 2008.
Highlights
171 kilometres of 2D seismic acquired on the Shaikan Block in 2008
442 kilometres of 2D seismic acquired on the Akri-Bijeel Block in 2008
3 exploration and 3 appraisal wells drilled on the HBH Perimeter in 2008
Phase-2 of the HBH exploration contract entered requiring a further 3 wells to be drilled and 1,300 kilometres of 2D seismic to be shot
Successful fund raising in July 2008 totalling $46.8 million resulting in the issue of 89.5 million new shares
Recent / Upcoming Events
Shaikan-1 well spudded on 27 April 2009
First Akri-Bijeel exploration well planned for Q3 2009
£30 million Standby Equity Distribution Agreement signed in May 2009
Todd Kozel, Chairman and Chief Executive Officer said:
"I am pleased to report another year of good progress by Gulf Keystone. I believe we are a much stronger company operationally and strategically than a year ago. This can be witnessed in the skills and enthusiasm of our people, the success of our drilling campaign and our prospects for the current year. Realising the funding to deliver the opportunities within the Company's portfolio remains a priority and a range of realistic funding solutions are being pursued".
Link to the 2008 Annual Report and Accounts
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