Gulf Keystone Petroleum : Appointment of Non-Executive Directors

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7 August 2014

Gulf Keystone Petroleum Ltd. (LSE: GKP)

Appointment of Non-Executive Directors

Gulf Keystone Petroleum Limited ("Gulf Keystone" or the "Company") is pleased to announce the appointment of Dr Joseph A. Stanislaw and Mr V Uthaya Kumar to the Board of Gulf Keystone (the "Board") as Non-Executive Directors with immediate effect.

Dr Joseph A. Stanislaw has spent the last three decades as a senior adviser within the energy industry. He was previously President and CEO of Cambridge Energy Research Associates (CERA), the US consulting company specialising in advising governments and private companies on  energy markets, geopolitics, industry trends and strategy. Following the sale of CERA in 2004 he founded The JA Stanislaw Group, also an energy advisory business, from where he served as Independent Senior Advisor, Energy and Sustainability, to Deloitte LLP.

Dr Stanislaw is a member of the Council on Foreign Relations. He was a Research Fellow of Clare Hall and a member of the Energy Research Group in the Cavendish Laboratory at Cambridge University. He served as Senior Economist to the Organization of Economic Cooperation and Development's (OECD) International Energy Agency in Paris.

V Uthaya Kumar, a Fellow of the Institute of Chartered Accountants in England and Wales and had a 35 year career with PricewaterhouseCoopers (PwC) before retiring as Senior Partner of PwC South East Asia Peninsula in June 2014. Mr Kumar has worked with international clients in audit, business advisory, mergers & acquisitions, valuations, privatisations and cross border transactions.

There is no further information to be disclosed pursuant to sections LR 9.6.11, LR 9.6.12 or LR 9.6.13 of the Listing Rules, FCA Handbook.

Commenting on today's announcement, Simon Murray, Non-Executive Chairman of Gulf Keystone said:

"We are very pleased to welcome both Dr Stanislaw and Mr Kumar to the Board of Gulf Keystone as independent Non-Executive Directors.  Both bring skillsets honed over long and distinguished careers in their respective fields which complement the existing team and from which I am confident the Company will benefit hugely.

"Dr Stanislaw has provided strategic advice to energy firms at all stages of their development, including on geopolitical and economic issues.  Mr Kumar, as a former senior partner at PwC, brings deep expertise in the disciplines of Risk & Governance, Financial Reporting and Process & Controls.  Furthermore, both new Directors' international perspectives fit well with the Company's geographically diverse equity and debt investor base."

Enquiries:

or visit: www.gulfkeystone.com

Notes to Editors:

·      Gulf Keystone Petroleum Ltd. (LSE: GKP) is an independent oil and gas exploration, development and production company focused on exploration in the Kurdistan Region of Iraq.

·      Gulf Keystone Petroleum International (GKPI) holds Production Sharing Contracts for four exploration blocks in Kurdistan, the Shaikan, Sheikh Adi, Ber Bahr and Akri-Bijeel blocks.

·      GKPI is the Operator of the Shaikan Block, which is a major commercial discovery, with a working interest of 75% and is partnered with Kalegran Ltd. (a 100% subsidiary of MOL Hungarian Oil and Gas plc.) and Texas Keystone Inc., which have working interests of 20% and 5% respectively.  Texas Keystone Inc. holds its interest in trust for Gulf Keystone, pending transfer of its interest to the Company.

·      Gulf Keystone is moving into the large-scale phased development of the Shaikan field targeting 100,000 bopd of production capacity during Phase 1 of the Shaikan Field Development Plan following its approval in June 2013.

Disclaimer:

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.

This communication and the information contained herein is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States unless they are registered or are exempt from registration. 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 does not intend to register any portion of this offering in the United States or to conduct a public offering in the United States or any other jurisdiction. 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. Copies of this communication are not being, and should not be, distributed in or sent into the United States.

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