Further to the decision of the English Commercial Court in London, a payment of £4,700,000 has been made into Court by Excalibur Ventures LLC (Excalibur) as security for the costs of Gulf Keystone and two of its subsidiaries (the "Companies") of defending the legal action commenced by Excalibur in December 2010. In total, Excalibur has paid £10,700,000 into Court as security for the costs of the Companies, including the payment made in April 2012.

Excalibur has also made a payment of £3,300,000 into Court as security for the costs of Texas Keystone Inc. In total, Excalibur has paid £6,800,000 into Court as security for the costs of Texas Keystone Inc., including the payment made in April 2012.

In addition, further to the decision of the English Commercial Court to award costs of the hearing on 15 February 2013 to the Companies and Texas Keystone Inc., interim payments of £50,000 and £40,000 have been made by Excalibur to the Companies and Texas Keystone Inc. respectively.

Tags: Gulf Keystone Petroleum