Gulf Keystone Petroleum Regulatory News (GKP)

9 March 2017

Gulf Keystone Petroleum Ltd. (LSE: GKP)

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

Shaikan Payment Update

Gulf Keystone confirms today that a gross payment of $15.0 million has been received from the Kurdistan Regional Government ("KRG") for Shaikan crude oil export sales in December 2016.

Gulf Keystone and the KRG's Ministry of Natural Resources ("MNR") continue to work towards agreeing the final form of the invoices for May to December 2016.

Following receipt of the payment, the Company's current cash position is $121.6 million.

Enquiries:

or visit: www.gulfkeystone.com 

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

Notes to Editors:

· Gulf Keystone Petroleum Ltd. (LSE: GKP) is a leading independent operator and producer in the Kurdistan Region of Iraq and the operator of the Shaikan field with current production capacity of 40,000 barrels of oil per day

· 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.