History

• September 2025

  Restart of Kurdistan and Shaikan Field pipeline exports

• August 2025

  Investment decision taken on installation of water handling facilities at PF-2

• May 2024

  Restart of shareholder distributions with initiation of $10 million share buyback programme

• January-March 2024

  Ramp up of Shaikan Field production as local market demand strengthens

• December 2023

  Confirmed target to maintain net capital expenditures, operating costs and G&A monthly run rate at or below c.$6 million into 2024
  Exited year with $82 million of cash and no debt, demonstrating benefit of expenditure discipline and management of accounts payable

• October 2023

  Strong gross average sales volumes of 37,173 bopd, with sales and production surpassing 40,000 bopd on several days

• July 2023

  Commencement of Shaikan crude oil sales to local market following extensive buyer due diligence
  Net capital expenditures, operating costs and G&A monthly run rate lowered to less than $6 million for H2 2023

• June 2023

  Drilling rig released following completion and hook-up of SH-18.
  Appointment of Martin Angle as Non-Executive Chairman following retirement of Jaap Huijskes at 2023 AGM

• May 2023

  Cancellation of final 2022 ordinary dividend of $25 million to preserve liquidity. As the operating environment and the Company’s liquidity position improve, we will keep under review our capability to reinstate distributions

• April 2023

  Full shut-in of Shaikan Field following production at curtailed rates into storage
  GKP suspends all expansion activity and targets cost reductions to preserve liquidity

• March 2023

  Payment of $25 million interim dividend
  Iraq-Turkey Pipeline closure and suspension of Shaikan Field exports

• February 2023

  Kurdistan and Shaikan Field exports suspended for c.24 hours following earthquakes in Turkey
  SH-17 brought online under budget and ahead of schedule

• December 2022

  SH-16 brought online on schedule and on budget

• November 2022

  SH-17 spud

• October 2022

  Payment of $25 million interim dividend

• August 2022

  SH-16 spud
  $100 million bond redeemed, leaving GKP debt free

• July 2022

  Payment of ordinary and special dividends totalling $75 million

• April 2022

  SH-15 brought online after drilling in record time
  Payment of $65 million interim dividend

• February 2022

  Payment of $50 million interim dividend
  
  

• November 2021

  Submission of draft Shaikan Field Development Plan to the Ministry of Natural Resources

• October 2021

  Payment of $50 million interim dividend

• August 2021

  Payment of $25 million special dividend

• July 2021

  Payment of $25 million annual ordinary dividend

• June 2021

  Resumption of drilling activities

• March 2021

  Reinstatement of annual dividend policy of at least $25 million

• March 2020

  Suspension of drilling activities due to COVID-19

• December 2019

  PF-1 tied in to export pipeline
  Second $25m share buyback programme launched

• July 2019

  Commenced $25m share buyback programme

• May 2019

  Revised FDP submitted to the MNR

• March 2019

  First dividend declared

• February 2019

  Crude oil sales agreement renewed

• October 2018

  Revised FDP submitted to MNR

• July 2018

  PF-2 tied in to export pipeline

• July 2018

  $100 million bond refinanced

• June 2018

  Expansion to 55,000 bopd initiated

• January 2018

  First crude oil sales agreement signed

• October 2016

  Completion of restructuring

• September 2015

  Start of regular monthly export payments

• December 2014

  40,000 bopd production first achieved

• December 2013

  Oil exports to Turkey by trucks

• January – June 2013

  Commercial production commences

• August 2012

  Declaration of commerciality

• November 2010

  First domestic sales

• April 2009

  Shaikan 1 discovery

• November 2007

  Shaikan PSC awarded