Edison Investment Research - Gulf Keystone Petroleum Ltd. (GVP1) Update: Payments show first step

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Edison Investment Research

Update: Payments show first step

On 7 November, the Kurdistan Regional Government (KRG) released a statement that it would be making an initial payment to oil producers, with further exports to follow on a regular basis. Gulf Keystone (GKP), more than most in the region, is reliant on cash flows from Shaikan, its key producing asset to fund ongoing development and exploration. As a result, this announcement is a very positive development. For the moment, we leave core NAV unchanged at 97p/share, pending a fuller update and confirmation of payments.

18/11/2014 4 EN

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Gulf Keystone Petroleum Ltd.

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BMG4209G1087 Berlin Stock Exchange Bermuda

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Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Update: Payments show first step

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