TIDMGKP

RNS Number : 0726B

Gulf Keystone Petroleum Ltd.

27 January 2020

27 January 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                            27 January 2020 
 Number of common shares purchased           72,902 
 Highest price paid per common share         196.4 pence 
 Lowest price paid per common shares         196.2 pence 
 Volume weighted average price per common    196.2 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 with the first stage of the programme being for an initial amount of $15 million. As announced on 21 January 2020, once the first stage of the programme is completed, purchases of the final amount of $10 million will commence. Under the programme, the Company has purchased 4,234,253 common shares for a total value of $11.33 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 217,048,493 common shares plus 12,381,073 common shares held in Treasury.

The above figure of 217,048,493 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 
      7,902               196.40              10:00:42            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       945                196.20              10:15:51            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       415                196.20              10:15:51            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       404                196.20              10:15:51            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       415                196.20              10:15:51            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       404                196.20              10:15:51            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       415                196.20              10:15:51            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      3,094               196.20              10:15:51            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       404                196.20              10:15:51            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       680                196.20              10:15:58            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      3,359               196.20              10:15:58            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       404                196.20              10:16:02            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       415                196.20              10:16:02            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      4,039               196.20              10:16:02            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       404                196.20              10:21:39            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       415                196.20              10:21:39            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       415                196.20              10:21:39            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       146                196.20              10:21:39            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       404                196.20              10:21:39            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       404                196.20              10:21:39            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      2,923               196.20              10:21:39            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       936                196.20              10:21:39            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      2,513               196.20              10:21:39            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      1,047               196.20              10:21:39            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        4                 196.20              12:02:16            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       404                196.20              12:38:15            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       415                196.20              12:38:15            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      3,170               196.20              13:15:52            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       152                196.20              15:05:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       415                196.20              15:05:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       252                196.20              15:05:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       415                196.20              15:05:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       866                196.20              15:05:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      1,323               196.20              15:05:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        17                196.20              15:05:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       323                196.20              15:05:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        17                196.20              15:05:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       314                196.20              15:05:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      2,713               196.20              15:05:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       369                196.20              15:05:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       400                196.20              15:05:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       400                196.20              15:05:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        64                196.20              15:05:56            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      1,093               196.20              15:07:06            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        71                196.20              15:07:06            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      1,655               196.20              15:18:14            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        48                196.20              15:19:21            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       220                196.20              15:28:52            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       520                196.20              15:30:20            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        12                196.20              15:54:07            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        51                196.20              15:54:07            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       214                196.20              15:54:07            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        50                196.20              15:54:07            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       208                196.20              15:54:07            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      1,669               196.20              15:54:07            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       146                196.20              15:54:07            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       361                196.20              15:54:07            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       258                196.20              15:54:07            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       406                196.20              15:54:07            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       449                196.20              15:54:07            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       150                196.20              15:54:07            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       404                196.20              15:54:07            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       206                196.20              15:54:07            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       404                196.20              15:54:07            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       145                196.20              15:54:07            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       100                196.20              15:54:07            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       351                196.20              15:54:07            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       477                196.20              15:54:07            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        86                196.20              15:54:07            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       304                196.20              15:54:07            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       415                196.20              15:54:07            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       287                196.20              15:54:07            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      3,663               196.20              15:54:29            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        30                196.20              16:12:17            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       570                196.20              16:12:17            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        30                196.20              16:13:59            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       338                196.20              16:13:59            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      1,259               196.20              16:14:37            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       404                196.20              16:16:23            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        52                196.20              16:16:23            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        17                196.20              16:16:23            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        2                 196.20              16:16:23            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       404                196.20              16:16:23            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      2,207               196.20              16:16:23            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       295                196.20              16:16:23            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      2,256               196.20              16:16:23            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       415                196.20              16:16:23            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       404                196.20              16:16:23            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       739                196.20              16:16:23            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       166                196.20              16:16:23            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       249                196.20              16:16:23            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      1,586               196.20              16:16:23            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       330                196.20              16:16:23            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
        30                196.20              16:16:23            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
      1,244               196.20              16:16:23            Exchange 
                   -------------------  --------------------  -------------- 
                                                               London Stock 
       517                196.20              16:16:39            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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(END) Dow Jones Newswires

January 27, 2020 13:30 ET (18:30 GMT)

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