RNS Number : 8760T
Gulf Keystone Petroleum Ltd.
11 January 2017


Not for release, publication or distribution, directly or indirectly, in whole or in part in or into the United States or any jurisdiction other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws or regulations of such jurisdiction.  This announcement (and the information contained herein) does not contain or constitute an offer to sell or the solicitation of an offer to purchase, nor shall there be any sale of securities in any jurisdiction where such offer, solicitation or sale would constitute a contravention of the relevant laws or regulations of such jurisdiction.





11 January, 2017

Gulf Keystone Petroleum Ltd. (LSE: GKP)

("Gulf Keystone", "GKP" or "the Company")


Appointment of Chief Operating Officer

Grant of Options


Gulf Keystone is pleased to announce that it has appointed Stuart Catterall as Chief Operating Officer ("COO") and a member of the Executive and Leadership teams.


Stuart will have responsibility for operational and technical activities within GKP, across the full spectrum of activities including procurement, budgeting and HSSE and will direct the execution of our current work plan. 


Stuart has over 30 years' experience in oil and gas undertaking a breadth of senior leadership and technical roles with Amerada Hess, BHP Billiton, Celtique Energy and, more recently, as an independent petroleum development and operations consultant for PA Resources, Enquest and Petroceltic.  He has proven expertise in successfully developing oil fields and leading operations in remote, onshore international locations, including in the Middle East / North Africa region. 


He has a BSc in Mechanical Engineering from Southampton University and an MSc in Petroleum Engineering from Imperial College, London. 


Under the 2016 Gulf Keystone Petroleum Staff Retention Plan (the "SRP"), Stuart (who has been classified as a person discharging managerial responsibilities ("PDMR")) has been granted options over 250,000 Common Shares.  Options granted under the SRP take the form of a right to acquire Common Shares. The option exercise price is zero.


Commenting on today's announcement, CEO, Jón Ferrier, said:

"We are very pleased to welcome Stuart to Gulf Keystone.  He brings a wealth of operational experience from three decades in the industry, including in senior leadership positions within a number of highly regarded international companies.  Stuart is a great addition to the team and we look forward to his contribution as we continue to increase production from the Shaikan field."



The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.



Details of the person discharging managerial responsibilities/person closely associated



Stuart Catterall


Reason for the notification



Chief Operating Officer


Initial notification/Amendment

Initial notification


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor



Gulf Keystone Petroleum Limited





Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted


Description of the financial instrument, type of instrument


Identification code

Options over Common Shares of US$1 each under the 2016 Gulf Keystone Petroleum Staff Retention Plan.


ISIN: BMG4209G2077


Nature of the transaction

Grant of option over Common Shares of US$1 each under the 2016 Gulf Keystone Petroleum Staff Retention Plan.


Price(s) and volume(s)






Aggregated information


Aggregated volume





Nil consideration


Date of the transaction

10 January 2017


Place of the transaction

Outside a trading venue






Gulf Keystone Petroleum:

+44 (0) 20 7514 1400

Jón Ferrier, CEO

Sami Zouari, CFO

Kate Leslie, Corporate Communications

Celicourt Communications:

+44(0) 20 7520 9266

Mark Antelme

Jimmy Lea



or visit: www.gulfkeystone.com 



Notes to Editors:


·           Gulf Keystone Petroleum Ltd. (LSE: GKP) is a leading independent operator and producer in the Kurdistan Region of Iraq and the operator of the Shaikan field with current production capacity of 40,000 barrels of oil per day

·           Further information on Gulf Keystone is available on its website www.gulfkeystone.com








This announcement contains certain forward-looking statements.  These statements are made by the Company's Directors in good faith based on the information available to them up to the time of their approval of this announcement but such statements should be treated with caution due to inherent uncertainties, including both economic and business factors, underlying such forward-looking information.  This announcement has been prepared solely to provide additional information to shareholders to assess the Group's strategies and the potential for those strategies to succeed.  This announcement should not be relied on by any other party or for any other purpose.

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