Gulf Keystone Hits New Highs on Possible FTSE Entry

Shares in Kurdistan-focussed Gulf Keystone Petroleum (GKP) jumped more than 5% on the London market on Monday, achieving a new closing high of 432.66p, following an intra-day peak of just over 460p.

A statement by the company confirmed its intention to move from the junior AIM market to a full listing on the London Stock Exchange:

Further to recent press comment, the Company is pleased to confirm that Gulf Keystone is continuing to work with its advisors to undertake a move from AIM to a Premium Listing on the Official List of the London Stock Exchange, as announced on 14 September 2011.

The Company’s current intention remains to undertake such a move during 2012, subject to obtaining the necessary approvals. Further announcements will be made as required.

With a market capitalisation of around £3.7 billion ($5.9 billion), this could put GKP straight into the main FTSE 100 index.

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