NEW YORK (Bloomberg) — Gulf Keystone Petroleum Ltd., an explorer in Algeria and Kurdistan, said its full-year net loss widened last year on lower oil prices and an impairment charge. The loss widened to $59 million from $29.9 million in 2007, the Bermuda-based company said in a statement. Crude oil dropped from a peak above $147 a barrel in July to $44 a barrel at the end of last year. The charge was related to Algerian licences, Keystone said. The company said it's seeking new funding because its portfolio of assets has expenditure commitments that "significantly exceed" financial resources.