Receipt of first top-up cargo payment
Received $16.5 million top-up cargo payment; expects remaining Q4 2025 receivable by end November.
- First top-up cargo payment received $16.5 million
- Total Q4 2025 top-up receivable $31.3 million
- Cash balance $66.0 million
- Bond proceeds expected to settle $175 million
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Gulf Keystone is pleased to report that payment for the first top-up cargo lifted in October 2026 has recently been received, amounting to $16.5 million net to GKP.
The top-up payment reconciles export sales during September to December 2025 to international prices and recovers more than half of the top-up receivable outstanding for the period of $31.3 million net to GKP. The remaining Q4 2025 top-up cargos were lifted in October 2026. The Company expects to receive payment for these cargos by the end of November 2026, recovering all of the remaining Q4 2025 receivable. The Company continues to receive its share of interim cargos and payments for current production.
Following receipt of the first top-up payment, the Company’s cash balance was $66.0 million as at 6 November 2026 and excludes the net proceeds from the $175 million bond which is expected to settle on 10 November 2026.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.