Gulf Keystone Petroleum Ltd. gained the most in more than five years in London after saying it’s in talks with parties on a possible sale of assets or the company.
The oil explorer focused on Iraq’s Kurdistan region rose as much as 61 percent, the biggest gain since Aug. 25, 2009, and was up 57% at 55.75 pence by 9:55 a.m.
The talks are preliminary and there’s no certainty of an offer being received, the Hamilton, Bermuda-based company said today in a statement. It has appointed Deutsche Bank AG and Perella Weinberg Partners as financial advisers.
Gulf Keystone is reviewing its financing options with the intention of meeting its debt payment obligations, it said.