Notification of Major Interest in Shares

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

GULF KEYSTONE PETROLEUM LTD

Company Number: 31165

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

X

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to thenotification obligation: iii

1. Sothic Capital European Opportunities Master

Fund Limited

2. Gertjan Koomen

4. Full name of shareholder(s)  (if different from 3.):iv

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

14 OCTOBER 2016

6. Date on which issuer notified:

20 OCTOBER 2016

7. Threshold(s) that is/are crossed orreached: vi, vii

Below 3%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

BMG4209G1087

0

0

3,215,949,413

3,215,949,413

14.01%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

3,215,949,413

14.01%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: xxi

Certain shares are held by an investment fund for which Sothic Capital Management LLP is the discretionary investment manager, and certain shares are held by Mr Gertjan Koomen in his personal capacity.

Sothic Capital Management (Cayman) Ltd is the parent undertaking of Sothic Capital Management LLP, and Mr Gertjan Koomen is the ultimate parent of Sothic Capital Management LLP through his ownership of Sothic Capital Management (Cayman) Ltd.

Mr Koomen and Sothic Capital Management LLP are therefore making an aggregated disclosure of their combined holdings.

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will ceaseto hold:

12. Date on which proxy holder will cease to holdvoting rights:

13. Additional information:

14. Contact name:

Didier Martineau, CEO Sothic Capital

Management LLP

15. Contact telephone number:

+44 207 590 5402