What is your business strategy regarding your assets in the Kurdistan Region of Iraq?
The Company’s business strategy consists in exploring, appraising and developing the Company’s four blocks in the Kurdistan Region of Iraq (Shaikan, Sheikh Adi, Akri-Bijeel and Ber Bahr) to realise their reserve potential, and bringing the Company into production. Gulf Keystone is firmly focused on continuing to make progress in its exploration and appraisal programme in the Kurdistan Region of Iraq.
When do you anticipate completing the exit of Gulf Keystone from Algeria?
In 2010, the Company relinquished Blocks 108 and 128b under the Ben Guecha Permit and reached an agreement with BG on the proposed withdrawal of the Company from the Hassi Ba Hamou (“HBH”) Permit, which is awaiting necessary Algerian approvals. On the Ferkane Permit (Block 126a), the Company is currently evaluating a number of options.
What are financial implications for Gulf Keystone as a result of the exit from Algeria?
The exit from Algeria, in terms of exit costs, is anticipated to be cash neutral for Gulf Keystone.
