Gulf Keystone Statement on Takeover Speculation

Gulf Keystone has issed the following statement regarding recent takeover speculation:

Gulf Keystone notes the continued unfounded press speculation regarding a potential offer for the Company.

The Board of Gulf Keystone ("the Board") does not normally comment on speculation, but confirms that it remains committed to creating value for shareholders, via the continuing 2011/2012 exploration and appraisal programme on its world-class assets in the Kurdistan Region of Iraq.

Whilst there is clearly increasing interest in the region in which Gulf Keystone operates, the Board is not in discussions with regard to a sale of the Company.

(Pictured: Todd Kozel, Gulf Keystone Chairman and CEO)

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