Gulf Keystone Petroleum Regulatory News (GKP)

24 Nov 2005 07:02

Gulf Keystone Petroleum Ld24 November 2005 Gulf Keystone Petroleum Limited ("Gulf Keystone" or "The Company") GRJ - 1 Well Update Gulf Keystone (AIM - GKP.L), an independent oil exploration company operating inthe Republic of Algeria, today announces that the Company has suspended thetesting of its GRJ-1 well located on Block 126a. The well was drilled by Gulf Keystone in 2003 and established the presence ofhydrocarbons through the analysis of wireline logs, gas shows and drillcuttings. However, the stimulation procedures used during this well testprogramme have not resulted in the flow of hydrocarbons to the surface.Consequently the current operation has been concluded and the well has beensuspended. This will allow the Company's completion experts, in co-ordinationwith its partner Sonatrach, to review the testing procedure and consider otherwell stimulation options for this structurally complex reservoir, prior tocarrying out further activities on well GRJ-1. Operations on the Company's neighbouring well, GRJ-2, are continuing as planned. 24 November 2005 Enquiries: Gulf KeystoneTodd Kozel - Chief Executive Officer (0207 514 1400)Bill Guest - President (0207 514 1400) Citigate Dewe RogersonMartin Jackson/Nina Soon (0207 638 9571) This information is provided by RNS The company news service from the London Stock Exchange