TIDMGKP

RNS Number : 1767G

Gulf Keystone Petroleum Ltd.

13 March 2020

13 March 2020

Gulf Keystone Petroleum Ltd. (LSE: GKP)

("Gulf Keystone", "GKP" or "the Company")

Transaction in Own Shares

Gulf Keystone Petroleum, a leading independent operator and producer in the Kurdistan Region of Iraq, announces that it has made the following redemptions pursuant to the share buyback programme (the "Buyback Programme") announced on 10 December 2019.

 
 Date of purchase                            1 3 March 2020 
 Number of common shares purchased           260,000 
 Highest price paid per common share         90.00 pence 
 Lowest price paid per common shares         85.30 pence 
 Volume weighted average price per common    88.62 pence 
  share 
 

As announced on 10 December 2019, the Company will use existing cash resources to make market purchases of common shares for a maximum consideration of $25 million. The initial amount of $15 million of the programme has been completed. Further to the announcement on 21 January 2020, purchases of the final amount of $10 million has commenced. Under the programme, the Company has purchased 10,912,244 common shares for a total value of $25.00 million to date.

Notification of total voting rights in accordance with the FCA's Disclosure and Transparency Rules provision 5.6.1R.

Following the repurchase of the shares set out above the Company's issued share capital consists of 210,370,502 common shares plus 19,059,064 common shares held in Treasury.

The above figure of 210,370,502 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in Gulf Keystone under the FCA's Disclosure and Transparency Rules. The Company will make further announcements in due course following the completion of any further purchases pursuant to the Programme.

In accordance with Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014 details of the purchase of its own common shares by the Company, which were all executed through the Company's broker, Canaccord Genuity Limited, are set out below:

Individual transactions:

 
 Number of shares   Transaction price    Time of transaction   Trading venue 
     purchased       (pence per share) 
                                                               London Stock 
     100,000               89.2               10:15:32            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      50,000               90.0               11:10:05            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      1,022                87.0               13:57:31            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       297                 87.0               13:57:31            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       273                 87.0               13:57:31            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      3,408                87.0               13:57:31            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       570                 87.0               13:57:31            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      1,022                87.0               13:57:31            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      3,978                87.0               13:57:31            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      2,118                87.0               13:57:31            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      1,615                88.0               14:06:45            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      3,385                88.0               14:06:45            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        31                 88.0               14:06:45            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      1,629                88.0               14:06:45            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      18,794               88.8               14:12:12            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       583                 88.8               14:12:12            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       228                 88.8               14:12:12            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       133                 88.8               14:12:12            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       872                 88.8               14:12:12            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      3,956                88.8               14:12:12            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       935                 88.8               14:12:12            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       109                 88.8               14:13:14            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        42                 88.8               14:13:14            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       958                 88.1               14:27:31            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       211                 88.1               14:27:31            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      3,831                88.1               14:27:31            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       211                 88.1               14:27:31            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      1,075                88.1               14:27:31            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      1,258                88.1               14:27:31            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       750                 88.1               14:28:43            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      1,917                88.1               14:28:43            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      1,140                88.1               14:28:43            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       830                 88.1               14:28:43            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       696                 88.1               14:28:44            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       731                 88.3               14:33:28            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      4,269                88.3               14:33:28            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        40                 88.3               14:33:28            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      1,500                88.3               14:33:28            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      3,460                88.3               14:33:28            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      1,610                88.3               14:33:28            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       513                 88.3               14:33:43            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      3,200                86.7               14:55:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      1,600                86.7               14:55:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       200                 86.7               14:55:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      4,200                86.7               14:55:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       600                 86.7               14:55:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      1,349                86.7               14:55:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      2,262                86.7               14:55:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       789                 86.7               14:55:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       600                 86.7               14:55:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       685                 86.7               14:55:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      4,315                86.7               14:56:47            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       200                 86.7               14:57:04            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      2,500                85.3               15:48:37            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       412                 85.3               15:48:37            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        27                 85.3               15:48:37            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       193                 85.7               15:48:48            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      5,000                85.7               15:48:48            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      2,338                85.7               15:48:48            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      2,662                85.7               15:48:48            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      5,000                85.8               15:49:24            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      1,762                85.8               15:49:24            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       106                 85.8               15:49:24            Exchange 
                   -------------------  --------------------  -------------- 
 

Enquiries:

 
 
 Celicourt Communications:    + 44(0) 20 8434 2754 
 Mark Antelme 
  Jimmy Lea 
 

or visit: www.gulfkeystone.com

Notes to Editors:

Gulf Keystone Petroleum Ltd. (LSE: GKP) is a leading independent operator and producer in the Kurdistan Region of Iraq. Further information on Gulf Keystone is available on its website www.gulfkeystone.com

Disclaimer

This announcement contains certain forward-looking statements that are subject to the risks and uncertainties associated with the oil & gas exploration and production business. These statements are made by the Company and its Directors in good faith based on the information available to them up to the time of their approval of this announcement but such statements should be treated with caution due to inherent risks and uncertainties, including both economic and business factors and/or factors beyond the Company's control or within the Company's control where, for example, the Company decides on a change of plan or strategy. This announcement has been prepared solely to provide additional information to shareholders to assess the Group's strategies and the potential for those strategies to succeed. This announcement should not be relied on by any other party or for any other purpose.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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March 13, 2020 13:40 ET (17:40 GMT)

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