Member Info for Straycat

9 September 2025

Gulf Keystone Petroleum Ltd. (LSE: GKP)

(“Gulf Keystone”, “GKP” or “the Company”)

Potential Dual Listing in Oslo

Gulf Keystone, a leading independent operator and producer in the Kurdistan Region of Iraq (“Kurdistan”), announces that it is pursuing a potential dual listing of its shares on Euronext Growth Oslo operated by the Oslo Stock Exchange (“OSE”).

As part of the Company’s efforts to increase the liquidity of its issued share capital, attract new institutional and retail shareholders and improve its access to capital markets, Gulf Keystone’s Board of Directors (“the Board”) has conducted a thorough review of potential initiatives to supplement the Company’s existing listing on the London Stock Exchange’s Main Market for listed securities. The Board sees several attractions and potential benefits of a dual listing on the OSE, including:

• The OSE is a leading hub for conventional energy capital markets with a broad group of listed companies within the oil & gas sector

• The Company is well known by equity and debt capital markets in Oslo where investors have an excellent understanding of the Kurdistan oil and gas industry and extensive track record of support for the Company and other international oil companies with operations in the region

• The Company has broad equity research coverage in Oslo, with Norwegian firms accounting for the majority of sell-side analysts currently covering the Company

• Additional reporting requirements and ongoing costs associated with a potential secondary listing are expected to be minimal

David Thomas, Non-Executive Chair, said:

“Oslo’s capital markets have long been supportive of Gulf Keystone, primarily through the historic provision of competitive debt financing, and have a deep understanding of the Company, the Shaikan Field and the broader Kurdistan oil and gas industry.

Following an extensive review of options to improve the liquidity of the Company’s existing share capital, we are today announcing that we are actively considering a dual listing on the Oslo Stock Exchange. The Company is in a strong position, with a world-class asset, material free cash flow generated from local sales, a robust balance sheet, a proven commitment to balancing disciplined investment with shareholder returns and significant potential upside from the restart of Kurdistan crude exports via the Iraq-Türkiye Pipeline.

On behalf of the Company, we look forward to engaging more closely with market participants to discuss Gulf Keystone’s compelling equity story and to further explore the potential for a dual listing in Oslo.”

As I have said on several occasions recently, this will happen.

GKP are well known on the OSE and well respected for their shareholder resilience ten years ago.

Coupled with their debt free status and the re-opening of the ITP, this is a mouth watering proposition for Norwegian in

‘i just filter the muppets. ****eye, straycat, jenslehman etc. not only are they idiots, but obnoxious ones at that. they have been and always will be cannon fodder.’

And then;

‘let them be run over at which point they will blame some dark and sinister third party rather than their own stupidity.’

Just look @ the A IBOTUP’s punctuation (or lack of it) if anyone wants evidence of its veracity (or lack of it).

Oh yes, and by the way, it’s impossible to be ‘cannon fodder’ and road kill at the same time.

Unless you’re shot by a cannon and then ‘run over’. Or visa versa.

Idiot AI BOTUP.

Just a joke nowadays…a meaningless irrelevant joke.

Has anyone else recognised/identified the preponderance of AI BOTUP/BB/Itsa etc postings lately?

What are they afraid of?

The truth?

Because the REAL truth is that this a fully functioning operation with a debt free plan for fully funded debt free growth to 100bopd.

I don’t get the problem.

GKP either do it or they don’t.

It just takes backbone and commitment.

Or not.

And that’s the bet.

Neither of which AI BOTUP and his acolytes recognise because his Masters have a very different asset stripping agenda.

Either way, they have no relevance on this bb.

‘This is a joke to be clear :-)’

Why are you trying to interface with an AI BOTUP, who/which doesn’t even understand humour?

That’s the joke…IF, starsalign, you are a real contributor you should get a grip.

AI BOTUP has been planted on this site to degrade expectations on the future development of GKP.

Whoever developed this monstrosity and his/it’s acolytes have a reason.

I think it's to do with asset stripping.

In the end I don’t care because the intrinsic value in GKP is why I’m invested.

And the basic plan to self-funding growth is where we’re headed with JH.

Get on board or get off.

DNO is a player...hence the Oslo listing which is a very shrewd move by JH and the Board.

This will happen.

I don’t really factor in the delinquent debt, since in the overall scheme of things it’s irrelevant because of the $100bopd on the table for stable self-funding development.

However, $151m is $151m.

What’s JH doing (if anything) to deal with that problem?

He should address this as a matter of management rigour.

I reckon he'll fail but that's a matter of my judgment and it's still a number for him to deal with!!!

If GKP can demonstrate a new repayment plan for investments already made and on a reliable regular basis, then this share can fly as it moves inexorably to 100k bopb over the next six years with self-generative investments of up to $800m. Even more maybe.

And poo is simply a matter of how much ridiculous profit is made in the process.

Just run the numbers and see what I can see.

This is not a question of faith, it’s a simple model analysis of what’s already on the table and happening real time.

Whatever the poo.

And anyway, if poo collapsed then so would our Capex.

It’s a self-fulfilling prophesy.

This is critical in its understanding because it goes to dividends and saleability.

Just run the numbers at 100k bopd and even @ $40 a barrel…see for yourselves.

I’m overweight in GKP because the fundamental business model fascinates me.

Yes it’s faced geo-political head winds which it has endured/survived because:-

1) It’s debt free;

2) It seems to me that the Board are on-side with JH’s view of the future.

Capex will be ca. $800m/$900m or so over that six year period. All recovered over time under the current CPR.

And I reckon that’s the MASSIVE elephant in the room…will there be any adjustments to the rules of engagement?

But just run the numbers as they sit, and see what I can see.

This is not a question of faith, it’s a simple model analysis of what’s already on the table.

No you're not.

The only dimwit here is AI BOTUP who can't keep up with human thought processes and how they develop exponentially and immediately.

F*ck AI BOTUP and his derivatives .

Let's the rest of us deal in the real trading world where investments matter real time and in the real world.

There’s currently a big BUY sign over GKP right now, with a median Broker consensus @£2.57 over the next twelve months.

‘So all as expected - just as expected. Brent still tracking as expected also. Ho hum.’

No. Certainly not ‘Ho hum’…AI BOTUP is so far off the mark.

As it goes there is a structural change to GKP’s investment platform that JH and the Board have re-engineered through tough times.

And IF they’re on top of it, then they will get paid on time.

Yes there are questions about delinquent debt; yes the payment actions will be critical, rather than the words and/or contractual agreements or even any MoUs.

However, this looks to me like real progress to me.

S/B Jon Harris...apologies.

I want to invest a significant amount of (more) money in your vision for the future.

Is there any chance that you can kick-start a plan for regular repayments for GKP investments already made that can support the many future investments needed?

Of up to $800m (or more) over the next six years...

Love you, want you, though not in a sexual way.

Just do your job for all our sakes.

For what it's worth I reckon you are navigating troubled waters in a difficult time.

Doesn't help me in a decision to buy another tranche of stock though...think I will even though I'm already overweight here.

Come on JH, get the job sorted and let's get onto the next phase of the development plan to 100k bopd.

We need to look at risk and reward. A crucial assessment.

The risk is GKP can’t handle the new financial/repayment regime, which is a BIG issue and critical to the self-funding strategy.

If it doesn’t work or is fundamentally compromised then we’re all in a place where we’re all screwed unless we’re bought out or struggle with local arrangements and a limited profit perspective.

The reward is if JH and the Board can do their job and carry the basic proposition of self-funding growth to its six year development outcome and with it our shareholder inevitable financial success.

In any case, GKP are debt free…so GKP has its life in its own hands to some extent.

'That's me and out for a while.'

If that means you don't infest our bb 'for a while' then tell AI BOTUP it has my gratitude 'for a while'.

But let it know that we're on to it now, 'for a while'.

The question still remains; who's driving the AI BOTUP agenda?

I do.

But not where you're concerned Scatcat.

You are an irrelevant but intrusive AI BOTUP supplant.

I can only call you out to account.

And I will.

Just stick kiddy pencils up your nose with cotton wool entering the nostril spaces and shout 'wubble wubble wubble, cluck cluck, gibber gibber, wubble.'

Then have a chat with your AI BOTUP to decide what to do next...good luck with that.

I can do this all day.

Hello Scatcat and welcome to the bb on your first post.

Send my regards to AI BOTUP because I reckon we’re going to be seeing a lot more of you soon.

So stupid it’s funny; bit like Rowan Atkinson in ‘Black Adder Goes Forth’ sticking pencils up his nose and pretending insanity to avoid going over the top in the First Great War.

Funny if it wasn’t so tragic…but going to be very amusing.

How strange.

AI BOTUP absolutely refuses to engage because it's still on a very steep learning curve.

It declares it's filtered us renegades and now regards us as a 'muppets crew'.

As if that's going to stop our opinions and understanding (or lack of it)!

It'll never catch up with our anticipatory behaviour with the associated errors we make as a consequence.

That's because we're human and capable of change without BOT prompting.

What we don't want is force-fed instructions on what's in our best interests by a computer...

Like I've said previously, the bigger question is who has instructed it to learn about GKP and why?

For an AI fabrication who purports to have 'filtered me' (and many others) AI BOTUP seems to have an uncanny way of tuning into our posts.

Sorry for that intervention by the BOTUP Victor, but I've read you over time and I know you're a grown up with enough experience to understand how this bb works.

The BOT's just learning its craft, that's all.

Still talking b*ll*cks though.

Meanwhile I agree with your assessment of any potential relationship with DNO because our potential market value and their lack of financial clarity/definition.

It depends on their debt leverage for future investments, but I'm inclined to agree.