Gulf Keystone Petroleum Ld
23 April 2008
Not for release, publication or distribution in or into jurisdictions other than
the United Kingdom and Bermuda where to do so would constitute a contravention
of the relevant laws of such jurisdiction
23 April 2008
GULF KEYSTONE PETROLEUM LIMITED
("Gulf Keystone" or "the Company")
Operational Update
Gulf Keystone Petroleum Ltd (AIM: GKP), an independent oil exploration company
with interests in Algeria and Kurdistan, announces that drilling of the HBHN-1
exploration well on the Hassi Ba Hamou Perimeter ("HBH Permit"), has been
completed.
The HBHN-1 exploration well was drilled on an untested structure to the
northwest of the Hassi Ba Hamou, HBH gas discovery. The well was targeting gas
in Devonian sands. The HBHN-1 well penetrated the Devonian sands but no
commercial gas volumes were encountered and the well was plugged and abandoned.
The rig will now move to the third well of a six well commitment on the HBH
Permit and drill exploration well RM-1. This well is expected to spud within a
month. No further announcement on the RM-1 well is expected until the well has
been completed.
Christopher Garrett, the Company's Vice President of Operations, who has over 29
years relevant experience within the sector and who has been involved with this
project for over 2 years. Mr Garrett is a Fellow of the Geological Society, a
member of the Petroleum Exploration Society of Great Britain, and a Certified
Petroleum Geologist (American Association of Petroleum Geologists). He meets
the criteria of a qualified person under the AIM guidance note for mining, oil
and gas companies, has reviewed and approved the technical information contained
in this announcement.
End
Enquiries
Gulf Keystone Petroleum: +44 (0) 20 7514 1400
Todd Kozel, Executive Chairman
RBC Capital Markets: +44 (0) 20 7653 4667
Andrew Smith
Sarah Wharry
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