1st Feb 2005 07:01
Gulf Keystone Petroleum Ld01 February 2005 01 February 2005 Gulf Keystone Petroleum Limited Joint Study Agreement Gulf Keystone Petroleum Limited ("Gulf Keystone" or the "Company"), anindependent oil exploration company operating in the Republic of Algeria, ispleased to announce that on 31 January 2005 it entered into a Joint StudyAgreement ("the JSA") with Kuwait Foreign Petroleum Exploration Company K.S.C.("KUFPEC") with respect to further its oil interests in Algeria. The Company and KUFPEC, a subsidiary of state-owned Kuwait PetroleumCorporation, have agreed:- • to share certain technical and commercial informationregarding their respective interests in oil and gas projects and prospects inAlgeria; and • to conduct a regional study of certain technical datarelating to certain open permit areas in Algeria and thereafter whereappropriate to seek to reach agreement with SONATRACH to enter into contractualdocumentation to explore, develop and exploit such open permit areas. Todd Kozel, President & Chief Executive Officer of Gulf Keystone said: "We are very excited about our agreement with KUFPEC. This agreement representsa significant milestone for Gulf Keystone and forms an integral part of ourexpressed growth strategy. We have been able to achieve this largely throughour good relationships with KUFPEC and SONATRACH. It will enable us to continuemaximising exploration and development opportunities in Algeria and thesurrounding regions." Enquiries Evolution Securities 020 7071 4300Rob Collins Citigate Dewe Rogerson 020 7638 9571Martin Jackson / Kate Delahunty This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Gulf Keystone Petroleum