Operational Update - Drilling

23 Apr 2008 11:13

Gulf Keystone Petroleum Ld23 April 2008 Not for release, publication or distribution in or into jurisdictions other thanthe United Kingdom and Bermuda where to do so would constitute a contraventionof the relevant laws of such jurisdiction 23 April 2008 GULF KEYSTONE PETROLEUM LIMITED ("Gulf Keystone" or "the Company") Operational Update Gulf Keystone Petroleum Ltd (AIM: GKP), an independent oil exploration companywith interests in Algeria and Kurdistan, announces that drilling of the HBHN-1exploration well on the Hassi Ba Hamou Perimeter ("HBH Permit"), has beencompleted. The HBHN-1 exploration well was drilled on an untested structure to thenorthwest of the Hassi Ba Hamou, HBH gas discovery. The well was targeting gasin Devonian sands. The HBHN-1 well penetrated the Devonian sands but nocommercial gas volumes were encountered and the well was plugged and abandoned. The rig will now move to the third well of a six well commitment on the HBHPermit and drill exploration well RM-1. This well is expected to spud within amonth. No further announcement on the RM-1 well is expected until the well hasbeen completed. Christopher Garrett, the Company's Vice President of Operations, who has over 29years relevant experience within the sector and who has been involved with thisproject for over 2 years. Mr Garrett is a Fellow of the Geological Society, amember of the Petroleum Exploration Society of Great Britain, and a CertifiedPetroleum Geologist (American Association of Petroleum Geologists). He meetsthe criteria of a qualified person under the AIM guidance note for mining, oiland gas companies, has reviewed and approved the technical information containedin this announcement. End Enquiries Gulf Keystone Petroleum: +44 (0) 20 7514 1400Todd Kozel, Executive Chairman RBC Capital Markets: +44 (0) 20 7653 4667Andrew SmithSarah Wharry Tristone: +44 (0) 207 399 2470Simon Ashby-Rudd Citigate Dewe Rogerson: +44 (0) 20 7638 9571Media: Martin JacksonAnalysts: Kate Delahunty or visit: www.gulfkeystone.com This information is provided by RNS The company news service from the London Stock Exchange