http://www.gulfkeystone.com/ The firms exploration programme in Algeria is going well and "the shares look good value", say the Investors Chronicle. Your comments please. goal.

Draw Down of Funds and Issue of Equity



Gulf Keystone Petroleum Ltd. (AIM: GKP), an independent oil and gas exploration and production company with assets in Kurdistan and Algeria announces that it has today drawn down 4,600,000 of its 30 million Standby Equity Distribution Agreement ("SEDA") with YA Global Master SPV Ltd ('YA'), the signing of which was announced by Gulf Keystone on the 7th May 2009.



This draw down of funds is the fourth under the SEDA and brings to 11,500,000 the amount of funds drawn down to date. The remaining undrawn funds under the SEDA facility are 18,500,000.



Under the terms of the SEDA, the Company has allotted, conditional on admission, 4,618,584 new common shares of $0.01 each to YA. These shares will rank pari passu in all respects with existing issued common shares in the Company. The new common shares have been issued at approximately 99.60 pence per share representing a five per cent discount to the average of the three lowest daily volume weighted average prices during the five trading days prior to this announcement.



The funds will be used to advance the development of Gulf Keystone's projects in Kurdistan.



Application will be made to the London Stock Exchange for 4,618,584 new common shares of $0.01 each to be admitted to trading on AIM. It is expected that the admission will become effective and that trading will commence on 19 November 2009.



The total issued share capital of Gulf Keystone following this allotment will be 488,259,138 Common Shares. The Company does not hold any Common Shares in treasury and so the total number of voting rights in the Company is 488,259,138

Rns coming monday morning ?.

about what and why and who says so?

I think the market is eagerly awaiting: ""We look forward to the next iteration of DGA's report which will address the Triassic discoveries made below 2,055 metres."
I think they are expecting (hoping for) a considerable increase in estimated reserves.

i think i am toooooooooooooooo

If they have discovered another commercial oil discovery.....then they probably have something between 3 to 5 billion barrels of oil....that would be fantastic....sp could be worth 150p or so .....and the next block is going to be drilled with Gulfkeystone having I think a 24% interest or so.....one of the stocks of the year GKP !.

another day closer to drill completion.....

alarm set for tomorrow morning......about 06.59......just incase the RNS shows

I'ld rather sleep .... markets don't open until 08:00!

We must be close to it !.

just like christmas......we know it's coming.....bet your up before 8 big C.....

only because Beloved will be getting up early for her bloody pilates class

now there's an idea.....pack her off with the happy news you made a few bob on GKP for christmas spends.....and of course you can plan what to spend it on whilst she is out exercising.....perhaps some MTA for the spring break

Starting to rise gently....something about to happen ?.....leak coming ?..

no .... just markets and oilies/miners in particular being quite chirpy

yep : WTI and Brent are both up.

don't want to state the obvious......steady as she goes......alarm set for 7am....

again? .... you'll fall asleep in your porridge, and for no good reason

reckon they're sharpening the bit.....

wish they would sharpen their pens and write the RNS rapid like........150p worth