Gulf Keystone Petroleum Announces Operational Update in Algeria

Gulf Keystone Petroleum announced that drilling of the HBHN-1 exploration well on the Hassi Ba Hamou Perimeter ("HBH Permit"), had been completed. The HBHN-1 exploration well was drilled on an untested structure to the northwest of the Hassi Ba Hamou, HBH gas discovery. The well was targeting gas in Devonian sands. The HBHN-1 well penetrated the Devonian sands but no commercial gas volumes were encountered and the well was plugged and abandoned.

The rig will now move to the third well of a six well commitment on the HBH Permit and drill exploration well RM-1. This well is expected to spud within a month. No further announcement on the RM-1 well is expected until the well has been completed.