Operational Development

Gulf Keystone Petroleum Ld
24 November 2005

       Gulf Keystone Petroleum Limited ("Gulf Keystone" or "The Company")

                              GRJ - 1 Well Update

Gulf Keystone (AIM - GKP.L), an independent oil exploration company operating in
the Republic of Algeria, today announces that the Company has suspended the
testing of its GRJ-1 well located on Block 126a.

The well was drilled by Gulf Keystone in 2003 and established the presence of
hydrocarbons through the analysis of wireline logs, gas shows and drill
cuttings.  However, the stimulation procedures used during this well test
programme have not resulted in the flow of hydrocarbons to the surface.
Consequently the current operation has been concluded and the well has been
suspended.  This will allow the Company's completion experts, in co-ordination
with its partner Sonatrach, to review the testing procedure and consider other
well stimulation options for this structurally complex reservoir, prior to
carrying out further activities on well GRJ-1.

Operations on the Company's neighbouring well, GRJ-2, are continuing as planned.

24 November 2005


Enquiries:

Gulf Keystone
Todd Kozel - Chief Executive Officer   (0207 514 1400)
Bill Guest - President                 (0207 514 1400)

Citigate Dewe Rogerson
Martin Jackson/Nina Soon               (0207 638 9571)




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