Gulf Keystone Petroleum Regulatory News (GKP)

7 Mar 2008 13:31

Gulf Keystone Petroleum Ld07 March 2008 Not for release, publication or distribution in or into jurisdictions other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws of such jurisdiction GULF KEYSTONE PETROLEUM LIMITED ("Gulf Keystone" or "the Company") DECENTRALISATION OF TECHNICAL MANAGEMENT Gulf Keystone Petroleum Limited (AIM: GKP) an independent oil & gas explorationcompany operating in Algeria and Kurdistan, today announces that it hasimplemented a new policy decentralising its technical capabilities to itscountries of operation, to be led by the respective Country Manager. Thepurpose of this policy is to place the Company's significant technicalcapability at the points of operation where its skills and expertise are ofgreatest value to those responsible for implementing the Company's exploration,development and production strategy. Gulf Keystone's Country Managers are technically highly qualified withsignificant oil & gas experience in addition to their country expertise. Mr. Mohamed Messaoudi, Gulf Keystone Country Manager for Algeria, is a petroleumgeologist with 27 years experience in the oil & gas industry. Mr. Messaoudijoined SONATRACH, the Algerian National Oil Enterprise in 1979, becoming ChiefGeologist for the Hassi Messaoud basin in 1996 and then consecutively, RegionalExploration Manager of the North Algeria Area / Onshore and Offshore Basins andRegional Exploration Manager for the South East Algeria Area (Illizi, Berkine,Hassi Messaoud & Oued Mya basins). He has had responsibility for the mostimportant hydrocarbon area in Algeria and has led more than 25 explorationprojects and teams. He has also published a number of technical papers. Mr. Adnan Samarrai, Gulf Keystone Country Manager for Kurdistan, is a petroleumgeologist with over 45 years oil & gas exploration and development experience inIraq. Mr Samarrai understands the petroleum geology, drilling technology andother disciplines relating to exploration activities within Iraq. He has held anumber of positions in several companies including Chief Exploration Geologistand Senior Geologist at the North Oil Company and Iraq National Oil Company.Prior to joining Gulf Keystone, Mr Samarrai was Director of MAR Oil ServicesLtd, Baghdad and a Petroleum Consultant to a number of companies includingBritish Gas, Pennzoil Co., EOG Resources and OPT-RNGS. Mr. David Mackertich, currently Executive Vice President Exploration andTechnical, will be leaving the Company on 30 April 2008. Todd Kozel, Chairman and Chief Executive Officer, commented: "Decentralising our technical capability to our countries of operation is anextremely important step forward. It places our technically skilled peoplealongside our operational teams allowing real time analysis and understanding ofthe assets being worked, enhancing understanding of the technical issues,accelerating decision making which we believe will deliver improved results andallow the Company to successfully develop our assets." Enquiries Gulf Keystone Petroleum: +44 (0) 20 7514 1400Todd Kozel, Executive Chairman Hoare Govett Limited: +44 (0) 20 7678 8000Andrew Foster Tristone: +44 (0) 207 355 5800Simon Ashby-Rudd Citigate Dewe Rogerson: +44 (0) 20 7638 9571Kate Delahunty or visit: www.gulfkeystone.com This information is provided by RNS The company news service from the London Stock Exchange