Gulf Keystone Directors Sell Shares

Gulf Keystone Petroleum Limited (AIM: GKP) has announced that it received notification that on 23 September 2010 Lord Peter Truscott, a non-executive director of the Company, and his wife sold 33,000 common shares at an average price of £1.44 per share.

Following this sale Lord and Lady Truscott are interested in 500,333 common shares representing approximately 0.07% of the common shares in issue, and 100,000 options over common shares under the Company’s Share Option Plan.

In addition, the Company was notified that Mr John Gerstenlauer, an executive director of the Company, today sold 333,333 common shares at an average price of £1.4347 per share.

Following this sale Mr Gerstenlauer is interested in 2,000,000 options over common shares under the Company’s Share Option Plan. Additional bonus award shares and long term incentive performance share options may be awarded to Mr Gerstenlauer through the Gulf Keystone Employee Benefit Trust at the discretion of the Trustee.

IBN View:

Both directors retain considerable interests in the company, and it is not unreasonable for them to lock in some of the recent gains.

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