Gulf Keystone Petroleum, a leading independent operator and producer in the Kurdistan Region of Iraq, announces that it has made the following redemptions pursuant to the share buyback programme (the 'Buyback Programme') announced on 10 December 2019.

Date of purchase: 17 January 2020

Number of common shares purchased: 169,163

Highest price paid per common share: 198.4 pence

Lowest price paid per common shares: 196.4 pence

Volume weighted average price per common share: 197.3 pence

As announced on 10 December 2019, the Company will use existing cash resources to make market purchases of common shares for a maximum consideration of $25 million with the first stage of the programme being for an initial amount of $15 million. Under the programme, the Company has purchased 3,704,830 common shares for a total value of $9.96 million.

Notification of total voting rights in accordance with the FCA's Disclosure and Transparency Rules provision 5.6.1R.

Following the repurchase of the shares set out above, the Company's issued share capital consists of 217,576,916 common shares plus 11,852,650 common shares held in Treasury.

Contact:

Tel: + 44(0) 20 8434 2754

Notes to Editors

Gulf Keystone Petroleum Ltd. (LSE: GKP) is a leading independent operator and producer in the Kurdistan Region of Iraq.

Disclaimer

This announcement contains certain forward-looking statements that are subject to the risks and uncertainties associated with the oil & gas exploration and production business. These statements are made by the Company and its 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 risks and uncertainties, including both economic and business factors and/or factors beyond the Company's control or within the Company's control where, for example, the Company decides on a change of plan or strategy. 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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