Memery Crystal Advises Gulf Keystone Petroleum Limited on US$165 Million AIM Fundraising

Memery Crystal LLP has acted for long-standing client Gulf Keystone Petroleum Limited (“Gulf Keystone”) in connection with the placing of new common shares on AIM, which raised gross proceeds of approximately US$165 million, making it the largest AIM fundraising to date in 2010.

Gulf Keystone is an independent oil and gas exploration and production company with assets in Algeria and the Kurdistan region of Iraq. The proceeds from the fundraising will be used to progress the company’s significant drilling campaign in Kurdistan.

The Memery Crystal team was headed by corporate partner Nick Davis and included corporate associate Kieran Stone.

Nick Davis commented: "We are delighted to have worked with Gulf Keystone on such a significant fundraising in very difficult market conditions. We acted on Gulf Keystone’s admission to AIM in 2004, and it has been a pleasure to assist the company with its substantial development since that time."

Memery Crystal is a recognised leader for its natural resources corporate finance work, covering M&A, private equity and IPO/fundraising for UK and international companies. The firm is ranked among the upper tier of law firms for its AIM experience by both Chambers and The Legal 500, acting for smaller to medium-sized public companies and off-shore funds, as well as for their nominated advisers and brokers.