Gulf Keystone Petroleum : First Day of Dealings on the Main Market

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25 March 2014

Gulf Keystone Petroleum Ltd. (AIM: GKP)

("Gulf Keystone" or "the Company")

First Day of Dealings on the Main Market of the London Stock Exchange

Further to previous announcements, Gulf Keystone announces that its common shares will today be admitted, with a standard listing, to the Official List of the United Kingdom Listing Authority and to trading on the London Stock Exchange plc's ("LSE") main market for listed securities ("Main Market") (together "Admission").  Dealings in the Company's common shares will commence on the Main Market at 8.00 a.m. GMT and trading in the Company's common shares on the AIM market of the LSE will be cancelled simultaneously.

The Company is not raising any funds or issuing any new common shares in connection with Admission.  The Company's TIDM code on the London Stock Exchange will remain 'GKP' and, on Admission, there will be 888,933,057 common shares in issue.

The prospectus, prepared by the Company in connection with the Admission, is available on the Company's website athttp://www.gulfkeystone.com/investor-centre/documents-for-inspection. It is also available for inspection at the office of Memery Crystal LLP, 44 Southampton Buildings, London, WC2A 1AP, during normal business hours.

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

"We are very pleased to be announcing Gulf Keystone's transition from AIM to the Main Market of the LSE today.  The move up reflects the considerable success that the Company has enjoyed since its IPO, and marks the end ofthe move up process involving a lot of hard work by the Company and its advisers.  I am grateful to them for all their support in enabling this important event to happen, as indeed I am to our many stakeholders, including the Kurdistan Regional Government, our partners and our shareholders.

From today's Main Market platform, with all the corporate governance expected of a Main Market company, we have a clear plan for continuing to grow and create further value from our world class operations in the Kurdistan Region of Iraq.  With an extremely active operational schedule, the expected near term ramp up in production from Shaikan, a constantly improving political backdrop and a strong team in place, we are extremely positive about Gulf Keystone's future."

Enquiries:

or visit: www.gulfkeystone.com

Notes to Editors:

·           Gulf Keystone Petroleum Ltd. (AIM: GKP) is an independent oil and gas exploration 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, including 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, following the approval of the Shaikan Field Development Plan in June 2013.

Disclaimer

This announcement contains certain forward-looking statements.  These statements are made by the 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 uncertainties, including both economic and business factors, underlying such forward-looking information.  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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