12th Sep 2013 10:37
LONDON (Alliance News) - Gulf Keystone Petroleum Ltd. Thursday said it is moving forward on its proposed move to the official list on London Stock Exchange.
The oil-and-gas exploration and production company, with operations in the Kurdistan region of Iraq, said it has partnered with Deutsche Bank AG, on an exclusive basis, regarding its proposed move from AIM to the the official list on the London Stock Exchange.
The company on Tuesday won a legal dispute with Excalibur Ventures LLC, which had claimed that an agreement dating back to 2006 entitled it to a 30% share of Gulf Keystone's subsequent discoveries.
The English Commercial Court dismissed all claims and decided all issues in favour of Gulf Keystone.
"We are making progress in achieving our goal to move to the Main Market by the end of 2013 and we are very pleased to have appointed an adviser of Deutsche Bank's calibre to assist us in this process," Chief Executive Todd Kozel said in a statement.
Gulf Keystone shares were down 7.78 pence, or 3.7% to 204.72p Thursday, though still well above its 52-week low of 126.31p.
By Tom McIvor; [email protected]; @TomMcIvor1
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