Gulf Keystone Petroleum Regulatory News (GKP)

Not for release, publication or distribution, directly or indirectly, in whole or in part in or into the United States or any jurisdiction other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws or regulations of such jurisdiction. This announcement (and the information contained herein) does not contain or constitute an offer to sell or the solicitation of an offer to purchase, nor shall there be any sale of securities in any jurisdiction where such offer, solicitation or sale would constitute a contravention of the relevant laws or regulations of such jurisdiction.

31 August 2016

Gulf Keystone Petroleum Ltd. (LSE: GKP)

("Gulf Keystone", "GKP", or "the Company")

Publication of Prospectus

Further to the earlier announcement today, Gulf Keystone confirms that the Company's prospectus (the "Prospectus") in connection with an open offer (the "Open Offer") for up to 2,294,295,672 new common shares in the Company (the "Open Offer Shares") at a price of 0.8314 pence per share, to raise up to US$25 million, has been published.

The Prospectus and the Q&A document for eligible shareholders wishing to participate in the Open Offer can be found on the Restructuring microsite: http://www.gulfkeystone.com/restructuring.

Disclaimer

This communication and the information contained herein is not an offer of securities for sale in the United States or Excluded Territories or any other jurisdiction where to do so could constitute a violation of the relevant laws of such jurisdiction. New Common Shares may not be offered or sold in the United States unless they are registered under the Securities Act, or are exempt from registration thereunder. Any public offering of securities to be made in the United States would be made by means of a prospectus that would contain detailed information about the company and its management, as well as financial statements. The Company has not registered and does not intend to register the new Common Shares under the Securities Act or to conduct a public offering in the United States or any other jurisdiction. Copies of this communication are not being, and should not be, distributed in or sent into the United States.

This communication is directed only at (i) persons who are outside the United Kingdom or (ii) persons who have professional experience in matters relating to investments falling within Article 19(2) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended from time to time (the Order) or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order or (iv) certified high net worth individuals and certified and self-certified sophisticated investors as described in Articles 48, 50, and 50A respectively of the Order or (v) persons to whom this communication may otherwise be lawfully communicated (all such persons together being referred to as relevant persons). Any investment activity to which this communication relates will only be available to and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

This communication is distributed in any member state of the European Economic Area which applies Directive 2003/71/EC (this Directive together with any implementing measures in any member state, the Prospectus Directive) only to those persons who are qualified investors for the purposes of the Prospectus Directive in such member state, and such other persons as this document may be addressed on legal grounds, and no person that is not a relevant person or qualified investor may act or rely on this document or any of its contents.