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Gulf Keystone Petroleum launched a share buyback programme for up to $25m, with the first stage of that programme seeking to buy back an initial amount of US$15m shares.
The buyback programme, aligned with the company's focus on capital allocation and will be an accretive use of funds, would not impact the company's ability to continue the execution of its existing investment programme.
The buyback programme for the initial amount would commence immediately and run to no later than 31 October 2019.
The buyback programme was approved by shareholders at the company's AGM on 21 June 2019.
At 10:00am: (LON:GKP) Gulf Keystone Petroleum share price was +6.75p at 226.25p