Consent Process Completion

RNS Number : 3708Q
Gulf Keystone Petroleum Ltd.
17 June 2015
 

Not for release, publication or distribution, directly or indirectly, in whole or in part in or into the United States or any jurisdiction other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws or regulations of such jurisdiction.  This announcement (and the information contained herein) does not contain or constitute an offer to sell or the solicitation of an offer to purchase, nor shall there be any sale of securities in any jurisdiction where such offer, solicitation or sale would constitute a contravention of the relevant laws or regulations of such jurisdiction.

 

 

 

17 June 2015

 

Gulf Keystone Petroleum Ltd. (LSE: GKP)

("Gulf Keystone" or "the Company")

 

Consent Process Completion

 

Further to the Company's RNS of 2 April 2015 (the "Announcement"), Gulf Keystone, the operator of the world class Shaikan field in the Kurdistan Region of Iraq, today announces that it has completed the process of implementing the terms described in the Announcement with respect to its US$250 million 13.0 per cent. Guaranteed Notes due 2017 (the "Notes") and its US$325 million 6.25 per cent. Convertible Bonds due 2017 (the "Bonds"), including the granting, on a pari passu basis, of a security interest in its shares in Gulf Keystone Petroleum International Limited in favour of holders of the Notes and the Bonds.  The security interest is subject to the intercreditor arrangements set out in the intercreditor agreement dated 15 June 2015.

 

 

Enquiries:

 

Gulf Keystone Petroleum:

+44 (0) 20 7514 1400

Sami Zouari, CFO


Anastasia Vvedenskaya, Head of Investor Relations




Celicourt Communications:

 +44 (0) 20 7520 9266

Mark Antelme

Jimmy Lea


 

 

or visit: www.gulfkeystone.com 

 

 

Notes to Editors:

 

·           Gulf Keystone Petroleum Ltd. (LSE: GKP) is an independent oil and gas exploration with operations in the Kurdistan Region of Iraq.

·           Gulf Keystone Petroleum International (GKPI) holds Production Sharing Contracts for four exploration blocks in Kurdistan, the Shaikan, Sheikh Adi, Ber Bahr and Akri-Bijeel blocks.

·           GKPI is the operator of the Shaikan Block, which is a major commercial discovery, with a working interest of 75% and is partnered with MOL Kalegran Limited (a 100% subsidiary of MOL Hungarian Oil and Gas plc.) and Texas Keystone Inc., which have working interests of 20% and 5% respectively. 

·           Gulf Keystone plans to move into the large-scale phased development of the Shaikan field targeting 100,000 bopd of production capacity during Phase 1 of the Shaikan Field Development Plan.

 

 

Disclaimer

 

This announcement contains certain forward-looking statements.  These statements are made by the Company's 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 uncertainties, including both economic and business factors, underlying such forward-looking information.  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 communication and the information contained herein is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States unless they are registered or are exempt from registration. Any public offering of securities to be made in the United States would be made by means of a prospectus that would contain detailed information about the company and its management, as well as financial statements. The company does not intend to register any portion of this offering in the United States or to conduct a public offering in the United States or any other jurisdiction. Any public offering of securities to be made in the United States would be made by means of a prospectus that would contain detailed information about the Company and its management, as well as financial statements. Copies of this communication are not being, and should not be, distributed in or sent into the United States.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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