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18 September 2008
GULF KEYSTONE PETROLEUM LIMITED
("Gulf Keystone" or "the Company")
Board Change
Appointment of Chief Operating Officer
Gulf Keystone Petroleum (AIM: GKP), an independent oil & gas exploration company operating in Algeria and the Kurdish Region of Iraq, today announces the appointment of Mr. John B. Gerstenlauer as Chief Operating Officer ("COO") with effect from 01 October 2008. Mr. Ibrahim Al-Khaldi, currently COO of Gulf Keystone, will become Vice President, MENA region.
John Berndt Gerstenlauer (former name: Juergen Berndt Gerstenlauer, age 55) joins Gulf Keystone from BASF's Wintershall Nederland Group, The Hague, where he was Managing Director and responsible for a business with over 100,000 bopd of production, of which more than 80% was operated.
A US citizen, Mr. Gerstenlauer holds Bachelor of Science degrees in Marine Biology from the University of Miami and in Civil Engineering from NC State University and a Master of Science degree in Ocean Engineering, also from NC State University. He has written numerous technical papers on Petrophysical topics and drilling techniques.
Mr. Gerstenlauer's oil & gas industry career began when he joined Shell Coastal Division, New Orleans, as a Petrophysical Engineer in 1979. Over subsequent years, he assumed increasingly senior production engineering and drilling engineering roles within various New Orleans-based Shell operating divisions including Coastal, Onshore and Offshore until joining Shell Oil subsidiary Pecten Cameroon Inc as Engineering Manager in 1985, where he was responsible for 50,000 of operated offshore production, and a further 120,000 bopd of non-operated offshore production. Mr. Gerstenlauer returned to Shell's Offshore East and Coastal Divisions, New Orleans in 1989 as Production Superintendent before transferring to Shell Oil subsidiary Pecton do Brasil Ltd as Engineering Manager in 1990, and then in 1993 he was seconded to Canadian Occidental Yemen ("CanOxy Yemen") as Operations Manager. At CanOxy Yemen Mr Gerstenlauer managed the project from start-up to full production of 210,000 bopd. In 1996, Mr. Gerstenlauer joined UMC Petroleum firstly as International Engineering Manager and then International Operations Manager focussed mainly on offshore West Africa. Following UMC's planned takeover by Ocean Energy in 1998, Mr. Gerstenlauer joined Wintershall AG, Kassel, Germany as Project Manager then Consultant before becoming Managing Director of Wintershall Nederland Group, The Hague in 2003.
Mr. Todd Kozel, Executive Chairman, Gulf Keystone, commented,
"I am delighted that John Gerstenlauer has agreed to join Gulf Keystone as COO. He brings proven technical expertise and international project development experience, particularly in bringing complex projects into production. John's exceptional operating skills will be of crucial value to Gulf Keystone as we continue our rapid progress in Algeria, where our Hassi Ba Hammou discovery enters the development phase and in Kurdistan, where our exploration drilling campaign is scheduled to commence in early 2009."
Mr. Gerstenlauer is not currently a director or partner in any other company and save for his previous appointment as managing director at Wintershall Netherlands B.V, Mr. Gerstenlauer has not held any other directorships, or been a partner in any partnerships, within the previous 5 years. There are no additional disclosures to be made in respect of AIM Rule 17 and under Schedule 2 paragraph (g) of the AIM rules.
Enquiries
Gulf Keystone Petroleum: +44 (0) 20 7514 1400Todd Kozel, Executive Chairman
RBC Capital Markets: +44 (0) 20 7653 4667
Andrew Smith
Sarah Wharry
Tristone Capital Limited: +44 (0) 20 7355 5800
Simon Ashby-Rudd
Majid Shafiq
Citigate Dewe Rogerson: +44 (0) 20 7638 9571 Martin Jackson
George Cazenove
or visit: www.gulfkeystone.com