Board Change

Gulf Keystone Petroleum Ld 21 January 2008 GULF KEYSTONE PETROLEUM LIMITED ("Gulf Keystone" or "the Company") Board Change Gulf Keystone Petroleum (AIM: GKP), an independent oil & gas exploration company operating in Algeria and the Kurdish Region of Iraq, today announces the appointment of Mr. Jeremy Asher as non-executive director of the Company with immediate effect. Mr Asher (age 49) graduated from the London School of Economics & Political Science in 1979 and was awarded an MBA with high distinction from the Harvard University Graduate School of Business Administration in 1981. Mr. Asher has had a career embracing both consulting to and running a variety of enterprises, mainly in the energy sector. Following several years consulting with what is now Oliver Wyman, he became co-head of the global oil products trading business at what is now Glencore AG, and left in 1989 to acquire and develop the Beta oil refinery at Wilhelmshaven in Germany which is now owned by ConocoPhillips. Between 1998 and 2001, as CEO of PA Consulting Group, he oversaw PA's globalization and growth from 2,500 to 4,000 staff, and negotiated and managed the integration of PA's acquisition of Hagler Bailly, Inc as well as helping to set up a number of PA's technology ventures. Since then, he has originated or participated in financing a variety of investments in the energy sector, directly and more recently through his investment company Agile Energy Ltd, including Tower Resources PLC where Agile is a substantial shareholder and Mr. Asher serves as a non-executive director. Mr. Asher is also a member of the investment advisory group at Imperial Innovations Ltd, the technology ventures company controlled by Imperial College, and a member of th UK Regional Advisory Board of the London Business School. Mr. Todd Kozel, Executive Chairman, Gulf Keystone, commented, "I am delighted that Jeremy Asher is joining Gulf Keystone. He has considerable business management experience which will be of immense value as Gulf Keystone implements its growth strategy." Save for the declerations below there are no updated disclosures to be made in respect of the appointment of Mr. Asher under rule 17 and under Schedule 2 paragraph (g) of the AIM rules. Current Directorships Company Date of Appointment Agile Energy Ltd March 2005 Tower Resources PLC February 2007 European Housing Finance Ltd February 2007 Process Systems Enterprise Ltd November 2003 Past Directorships (last ten years) Company Date of Resignation PA Consulting Group (holding co. and subsidiaries) October 2001 Skyvision Holdings Ltd and subsidiaries June 2006 Enquiries Gulf Keystone Petroleum: +44 (0) 20 7514 1400 Todd Kozel, Executive Chairman Hoare Govett Limited: +44 (0) 20 7678 8000 Andrew Foster Tristone: +44 (0) 207 399 2470 Simon Ashby-Rudd Citigate Dewe Rogerson: +44 (0) 20 7638 9571 Media: Martin Jackson Analysts: Kate Delahunty or visit: www.gulfkeystone.com This information is provided by RNS The company news service from the London Stock Exchange