Update on Shaikan Field operations

Gulf Keystone, a leading independent operator and producer in the Kurdistan Region of Iraq (“Kurdistan”), announces that it has temporarily shut-in production operations as a safety precaution due to the developing regional security environment. The Company’s approach is in line with other international oil companies operating in the region. The Company’s assets have not been impacted and latest gross production from the Shaikan Field was above 45,000 bopd.

The Company is closely monitoring the situation and will provide further updates as appropriate.