Director/PDMR Shareholding

Gulf Keystone Petroleum Ld
25 July 2005


                GULF KEYSTONE PETROLEUM LIMITED (the "Company")

                              DIRECTOR SHAREHOLDING


The Company was informed on 22 July by Bill Guest, a director of the Company,
that on 22 July 2005 he purchased 20,000 common shares of US$0.01 each ("Common
Shares") at a price of 78p per Ordinary Share. Following this purchase, Bill
Guest is interested in 20,000 Common Shares, representing 0.01 per cent. of the
current issued share capital of the Company.

25 July 2005



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