Excalibur will not appeal GKP case

Gulf Keystone Petroleum, the Aim-listed oil and gas explorer with FTSE 250 aspirations, yesterday said that an English court has released a summary of its decision to dismiss all claims by Excalibur Ventures, which argued that it was owed a 30 per cent interest in GKP’s assets in Kurdistan. GKP also said that Excalibur has decided not to appeal the court’s decision and is paying GKP £17.5m to cover legal costs.