26th Feb 2015 09:31
LONDON (Alliance News) - Gulf Keystone Petroleum Ltd Thursday said its has received a further USD26 million gross payment relating to future sales of crude oil from the Shaikan field.
The oil and gas explorer, which operates in the Kurdistan region of Iraq, said it has received the payment, USD20.8 million net to Gulf Keystone as a pre-payment from the Kurdistan regional government for future Shaikan crude oil sales.
On Wednesday, Gulf Keystone Petroleum shares jumped as much as 55% after it confirmed it recently held discussions with a number of parties about potentially selling the company and its assets. In a statement, the company said that talks are preliminary and said there is no certainty as to the terms of any deal, should one go through.
"Concurrently, and in view of strategic discussions and its current liquidity position, and with the intention of meeting its existing debt payment obligations, the company is undertaking a review of its financing options and in that context will engage in discussions with its key stakeholders," Gulf Keystone had said Wednesday.
Gulf Keystone Petroleum shares were trading 0.5% higher Thursday morning at 55.25 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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