Business
2010 Results Announcement
2010 Results Announcement.
About this update from Gulf Keystone Petroleum Limited
[{"type":"text","content":"\n \nRNS Number : 6339E Gulf Keystone Petroleum Ltd. 11 April 2011 \n \n\nNot for release, publication or distribution in or into the United States or jurisdictions other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws of such jurisdiction.\n \n \n \n11 April 2011\n \nGulf Keystone Petroleum Ltd. (AIM: GKP)\n(\"Gulf Keystone\" or \"the Company\")\n \n \n2010 Results Announcement\n \nGulf Keystone Petroleum Limited (AIM: GKP), an independent oil and gas exploration and production company operating in the Kurdistan Region of Iraq, today announces its results for the year ended 31 December 2010.\n \nHIGHLIGHTS\n \nFinancial Summary\n \n· Loss after tax $26.0 million (2009: $96.3 million)\n \n· Loss per share 4.17 cents (2009: 22.80 cents) \n \n· Cash, cash equivalents and liquid investments $211.4 million (2009: $19.2 million)\n \nOperational Summary - To Period End\n \nKurdistan Region of Iraq:\n \nShaikan Block\n \n· Significant increase in gross oil-in-place numbers for the Shaikan discovery with a range of 1.9 (P90) to 7.4 (P10) billion barrels, following independent evaluation by Dynamic Global Advisors\n \n· 599 km² 3D seismic acquisition completed\n \n· Successful re-testing of Shaikan-1 in the Butmah and Mus formations at improved rates following which the well was completed as the first Jurassic producer in the Sargelu formation \n \n· Extended Well Test (\"EWT\") facilities completed in September and first domestic sales from Shaikan-1 commenced in October with a net entitlement to oil sales of 30,193 barrels \n \n· Shaikan-3 appraisal well spudded in September to evaluate the Cretaceous\n \n· Shaikan-2 deep appraisal well spudded in December\n \n· Shaikan-4 deep appraisal well location completed \n \nAkri-Bijeel Block\n \n· Bijell-1 well resulted in a significan...