Gulf Keystone Rises Most 2 Weeks on Kurdistan Estimate - Bloomberg

Gulf Keystone Rises Most 2 Weeks on Kurdistan Estimate - Bloomberg:



"Gulf Keystone Petroleum Ltd. (GKP), an oil producer in Iraq’s Kurdistan region, gained the most in two weeks after saying production from its key asset was proceeding as planned.



The company advanced 1.9 percent to 81.5 pence at the close in London. That’s the biggest gain since May 30, valuing the company at 724 million pounds ($1.2 billion).



Gulf Keystone expects production from Shaikan to rise to 40,000 barrels of oil a day by the end of the year, the Hamilton, Bermuda-based company said today in a statement. The shares had lost 14 percent this week through yesterday, amid concern violent unrest in Iraq could spread toward the region."



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