GKP Shares Rally on Announcement

By John Lee.

Shares in Gulf Keystone Petroleum (GKP) closed 14 percent higher on Wednesday following the company's announcement that it is to reschedule its Interim Management Statement.

The shares had been up as much as 30 percent in the afternoon, on expectations of positive news to follow.

The company statement said:

"As a result of constructive discussions currently taking place in Erbil with the Kurdistan Regional Government's Ministry of Natural Resources ("MNR"), and to co-ordinate with the reporting schedules of the other key producers in the Kurdistan Region, the Company has agreed with the MNR to reschedule its Interim Management Statement, currently scheduled for Thursday 30 October, until Thursday 13 November."

(Sources: Gulf Keystone Petroleum, Yahoo!)

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