GKP Declares Commercial Discovery at Shaikan

By John Lee.

Shares in Gulf Keystone (GKP) were up more than 5% on Friday following the company's submission of a 'Declaration of Commercial Discovery' relating to its Shaikan Block in Iraqi Kurdistan.

Todd Kozel (pictured), Gulf Keystone's Executive Chairman and Chief Executive Officer commented:

"Declaration of Commercial Discovery is an important milestone for Gulf Keystone. It marks the completion of the Shaikan appraisal programme and the move to the development of this world class discovery. Preparation of the Shaikan Field Development Plan is already well underway, which we look forward to submitting within the next 180 days."

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