Oil explorer GKP calls in CDR ahead of flotation

Oil exploration company Gulf Keystone Petroleum has drafted in Citigate Dewe Rogerson to handle a financial comms offensive ahead of its listing on AIM.

CDR director Martin Jackson is leading the financial communications push, designed to stimulate and maintain interest in the listing, which is targeted for

8 September.

Jackson reports to GKP chief executive and vice-president Todd Kozel.

Evolution Beeson Gregory has been announced as the nominated financial adviser and broker on the deal.

GKP began looking for oil in Algeria as an independent operator in 2001. Under a contract with Algeria’s state oil company Sonatrach, GKP is licensed to drill for oil near Algeria’s north-eastern border with Tunisia.

GKP’s pitch to investors and the media emphasises that the area is believed to have around 100 million barrels of oil. The company is highlighting the possibility of the exploration block producing ten times this amount.

The company hopes to raise around £60m from the flotation, which it says it will use to expand operations in Algeria and beyond.

In particular, GKP plans to bid for additional exploration blocks in Algeria, while looking for other oil and gas opportunities in North Africa and the Middle East.

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