Director/PDMR Shareholding

Gulf Keystone Petroleum Ld
29 December 2006




Gulf Keystone Petroleum Ltd (the "Company")

On 29 December 2006, the Company allotted a total of 1,274,968 shares to
directors and employees under the Company's  2006 Bonus Scheme, subject to
admission of the shares to trading on AIM.

Of these shares:

(a)   126,533 bonus shares have been awarded to Jon Cooper, a director, pursuant
to the 2006 Bonus Scheme; and

(b)   678,614 shares have been awarded to William Guest, a director. This award
includes Mr Guest's bonus entitlement  for both 2005 and 2006 and certain other
contractual rights, including a percentage of 2006 salary to be taken in  shares
instead of cash.





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