Gulf Keystone names COO Gerstenlauer as acting CEO

|About: Gulf Keystone Petroleum Ltd. (GUKYF)|By:, SA News Editor

Gulf Keystone Petroleum (GUKYF +12.6%) COO John Gerstenlauer will take over the company until a permanent replacement is found following the retirement of the CEO earlier this week, according to a letter to shareholders.

Gulf Keystone shares have surged ~40% since Wednesday when the Kurdistan-focused company said CEO Todd Kozel was resigning after shareholders had expressed concerns over executive pay.

A statement from the Kurdistan government that it had won a court ruling in Baghdad over oil exports also may be helping to lift shares.