Company Overview - History Offices currently in Bermuda, Erbil, Kurdistan Region of Iraq, London, and Algiers Founded by UAE, Kuwaiti and US private equity 2001 2001 Incorporated in Bermuda 2004 Listed on the Alternative Investment…
Board and Management Todd Kozel John Gerstenlauer Ewen Ainsworth Ali Al-Qabandi Mehdi Varzi Lord Truscott Executive Vice Chairman & Chairman & Chief Chief Business Non- Non- Executive Operating Finance Development Executive…
Gulf Keystone Structure Corporate structure Gulf Keystone Petroleum Ltd. (GKP) Listed on AIM (2004) 100% Gulf Keystone Petroleum Interests in Algerian assets International (GKPI) Held for sale Interests in Kurdistan…
Company Highlights Focused on oil and gas opportunities in the Kurdistan Region of Iraq Four Production Sharing Contracts (PSCs) for the Shaikan, Sheikh Adi, Akri-Bijeel and Ber Bahr blocks Two discoveries Shaikan (August 2009) and…
Company Forward Growth Strategy Continue to explore and appraise aggressively the Shaikan, Sheikh Adi and Ber Bahr blocks to prove up the resource base Focus on finding and appraising giant fields with increased production to…
Work Programme Kurdistan Region of Iraq 2011 / 2012 Work Programme 7
Kurdistan Region of Iraq Licences Block Operator 1 Shaikan Gulf Keystone 2 Sheikh Adi Gulf Keystone 3 Ber Bahr Genel/Vallares 4 Akri-Bijeel MOL 5 Sindi-Amedi Perenco 6 Tawke DNO 7 Dohuk Central Murphy Oil 8 Sarsang HKN Energy 9…
Companys Acreage in the Kurdistan Region of Iraq 9
Kurdistan Region of Iraq the new frontier Region Legal and commercial Highly prospective oil province, underexplored Draft Iraq Oil and Gas Law is currently the subject of with many undrilled surface structures parliamentary…
Shaikan ASSET SUMMARY PROSPECTIVITY Working Interest GKPI 75% Proven multiple target horizons Fully diluted working interest (1) GKPI 51% Tested oil and gas in the Jurassic and Upper and Middle Operator GKPI Triassic Other partners…
Shaikan: Multi-billion barrel discovery We have always believed that the initial gross- oil-in-place-range for the Shaikan discovery was a conservative estimate that would increase as more information became available. The gross…
Shaikan STATUS WORK PROGRAMME Successful Shaikan-1 well completed in November 2009 Shaikan-5 is to be spudded in 2011 followed by Shaikan-6 and Shaikan- 7 (contingent well) in 2012 as part of a 3 rig programme Final depth at 2,950m due…
Shaikan-1 & 3 Extended Well Test (EWT) Facilities complete & 20,000+ barrel tank, further 20,000+ barrel tank under construction Domestic oil sales contracts are implemented with local buyer(s) Focus on combining domestic sales with…
Shaikan Conceptual Development Well Plan Legend Road River 500m contour Licence boundary Shaikan Development Oil Pipelines Main export pipeline East Export spur line Production trunk line Shaikan Development West Development…
Pipeline Routes and Locations 16
Sheikh Adi PROSPECTIVITY ASSET SUMMARY Large mapped surface anticline of 34.8 km2 (main structure) (3) Working Interest(1) GKPI 80% Further 40 km2 closure identified in north of block as eastern extension of Operator GKPI Ber Bahr…
Ber Bahr ASSET SUMMARY PROSPECTIVITY Working Interest(1) GKPI 40% Large mapped surface anticline covering 50% of block crossed by Operator Genel 40% recent 2D seismic grid(3) Other partner KRG 20% On trend with Shaikan and Sheikh Adi…
Akri Bijeel ASSET SUMMARY STATUS Working Interest GKPI 20% 442 km of 2D seismic acquired in 2008 on budget Fully diluted working interest(1) GKPI 12.8% Operator MOL 80% Bijell-1 well spudded 11 December 2009 Estimated operator oil…
3 Year and 6 Month Share Price Performance Sep 2008 Jun 2009 Mar 2010 Dec 2010 Sep 2011 Range: 9 September 2008 to 9 September 2011 Source: www.londonstockexchange.com Teleborsa Mar 2011 Apr 2011 Jun 2010 Jul 2011 Sep 2011…
Analyst Price Targets (pence) Goldman Sachs 390p Arbuthnot Securities 279p Fox-Davies 275p Mirabaud 206p Evolution 200p Daniel Stewart 200p Madison Williams 200p Investec Securities 191p Renaissance Capital 185p Matrix 175p…
Risk factors Oil and gas pricing and demand The price of and demand for oil and gas is highly dependent on a number of factors, including both domestic and international supply and demand levels, energy policies, weather, competitiveness…
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