Receipt of first top-up cargo payment
9 November 2026
Gulf Keystone Petroleum Ltd. (LSE & OSE: GKP) ("Gulf Keystone", "GKP", "the Group" or "the Company")
Receipt of first top-up cargo payment
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.
Enquiries:
+----------------------------------------------+------------------------------+ | Gulf Keystone: | +44 (0) 20 7514 1400 | +----------------------------------------------+------------------------------+ | Aaron Clark, Head of Investor Relations | aclark@gulfkeystone.com | | & Corporate Communications | | | | | +----------------------------------------------+------------------------------+ | FTI Consulting | +44 (0) 20 3727 1000 | +----------------------------------------------+------------------------------+ | Ben Brewerton | GKP@fticonsulting.com | | Nick Hennis | | +----------------------------------------------+------------------------------+
or visit: www.gulfkeystone.com (http://www.gulfkeystone.com/)
Notes to Editors:
Gulf Keystone Petroleum Ltd. (LSE & OSE: GKP) is a leading independent operator and producer in the Kurdistan Region of Iraq. Further information on Gulf Keystone is available on its website www.gulfkeystone.com (http://www.gulfkeystone.com/)