Gulf Keystone, Shaikan Payment Update

Gulf Keystone Petroleum (GKP) has confirmed that a gross payment of $15.0 million has been received from the Kurdistan Regional Government (“KRG”) for Shaikan crude oil export sales in October 2016.

Gulf Keystone and the KRG’s Ministry of Natural Resources (“MNR”) continue to work towards agreeing the final form of the invoices for May to October 2016. Following receipt of the payment, the Company’s current cash position is $106.1 million.

Gulf Keystone confirms today that a gross payment of $15.0 million has been received from the Kurdistan Regional Government (“KRG”) for Shaikan crude oil export sales in October 2016.

Gulf Keystone and the KRG’s Ministry of Natural Resources (“MNR”) continue to work towards agreeing the final form of the invoices for May to October 2016.

Following receipt of the payment, the Company’s current cash position is $106.1 million.

(Source: Gulf Keystone)

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