Gulf Keystone receives Shaikan payment

Gulf Keystone has confirmed that a gross payment of $15.0 million has been received from the Kurdistan Regional Government for Shaikan crude oil export sales in July.

Gulf Keystone says that it and the KRG’s ministry of natural resources continue to work towards agreeing the final form of the May, June, and July 2016 invoices in parallel with the negotiation and finalisation of the second amendment to the Shaikan production sharing contract as per the bilateral agreement between the company and the MNR announced on 17 March.

Following receipt of the payment, the Company’s current cash position is $79.6 million.

At 8:52am: (LON:GKP) Gulf Keystone Petroleum share price was +0.02p at 2.22p

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