(MENAFN- ProactiveInvestors - UK) Kurdistan-based oil firms rallied on hopes of positive news from Gulf Keystone Petroleum (LON:GKP).
Investors took heart from an innocuous looking regulatory announcement that revealed a delay to Gulf Keystone's (GKP) interim management statement (IMS), which was due tomorrow.
The announcement prompted a 15% rally in the GKP share price.
GKP said it has agreed the timing of the IMS release with Kurdistan's Ministry of Natural Resources (NMR) amid ongoing "constructive discussions" in Erbil.
Early last month GKP revealed it had transported a total of seventeen cargoes of crude during 2014, but it was still awaiting payment for much of the exported oil.
At that time it told investors it was talking to the NMR regarding the payment cycle for past and future exports.
GKP, which trucks crude exports from the Shaikan field into Turkey, said the rescheduling of its IMS means it will be co-ordinated with the reporting schedules of other key producers in Iraq's semi-autonomous northern region.
Shares in Genel Energy (LON:GENL), the largest Kurdistan based producer listed in London, gained more than 5% this afternoon.
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