Gulf Keystone Prepares to P&A FEG-1 in Hassi Ba Hamou Permit

Gulf Keystone Petroleum Ltd. has provided a drilling update for its FEG-1 well in Algeria. The Company noted that drilling of the FEG-1 exploration well on the Hassi Ba Hamou Perimeter ("HBH Permit"), has been completed.

The FEG-1 exploration well was drilled on an untested trap to the southwest of the HBH gas discovery and reached a total depth of 2,746 meters. The FEG-1 well penetrated the target Carboniferous sands but no commercial gas volumes were encountered and the well will be plugged and abandoned.

The rig will now move to the fifth well of a six well commitment on the HBH Permit and drill appraisal well HBH-5 on the HBH gas discovery. This well is expected to spud within a month. No further announcement on the HBH-5 well is expected until the well has been completed.