Gulfsands Petroleum PLC

Gulfsands Petroleum PLC is an independent oil and gas exploration, development and production group based in Houston, Texas. Gulfsands has development, exploitation and exploration projects in the USA (offshore Gulf of Mexico and onshore Gulf Coast) and the Syrian Arab Republic and has signed a memorandum of understanding relating to a large project in Iraq.

Ordinary shares of the Company trade on the Alternative Investment Market ("AIM") of the London Stock Exchange under the symbol GPX.

In the USA Gulf of Mexico, Gulfsands owns interests in 64 offshore blocks comprising approximately 216,000 gross acres which includes 39 producing oil and gas fields offshore Texas and Louisiana. Proved and probable reserves are approximately 30.3 billion cubic feet of natural gas equivalents, consisting of 14.94 billion cubic feet of natural gas and 2.56 million barrels of oil as of 30 June 2005. For the first half of 2005 net working interest production to Gulfsands from these 39 fields has been at an average daily volume of between 2,500 -- 3,000 barrels of oil equivalent per day.

In the Syrian Arab Republic, Gulfsands owns a 50% working interest in Block 26. This block located in northeast Syria covers an area of approximately 11,000 square kilometers, and surrounds areas which currently produce over 100,000 barrels of oil per day from existing fields. Gulfsands has identified 31 exploitation and exploration prospects and leads with mean resources potential exceeding 1 billion barrels of recoverable oil. The first well is anticipated to be drilled by Gulfsands during the first half of 2006.

Gulfsands signed a Memorandum of Understanding in January 2005 with the Ministry of Oil in Iraq for the Misan Gas Project located in Southern Iraq and is currently working towards the execution of a definitive contract for the project. Gulfsands has completed a feasibility study and expects to conduct further technical work and commercial discussions with the Iraq Oil Ministry. The Misan Gas Project is a midstream project that gathers gas that is currently being flared at the oil fields in Southern Iraq, brings the gas to a central processing plant to clean it of impurities and remove the light hydrocarbon liquid fraction (Natural Gas Liquids), and then transmits the natural gas for further distribution and use in Iraq. The extracted hydrocarbon liquids are then transmitted to a southern port for storage, offloading and export. Gulfsands has a 100% interest in the Misan Gas Project.

Gulfsands formed a subsidiary company, Darcy Energy LLC ("Darcy Energy"), to conduct onshore USA Gulf Coast field re-development and exploration. Darcy Energy has acquired interests in two onshore projects in which discoveries have been made on both of them. Darcy commenced first production in the summer of 2005.

Gulfsands Petroleum Announces Half Year Results
Thursday, September 15, 2005

Gulfsands Petroleum PLC, the AIM listed oil and gas exploration, development and production company with activities in the USA, Syria and Iraq, announces its results for the six months ended 30 June 2005.

Financial highlights
Turnover for period increased to $26.04 million (30 June 2004: $8.95 million).
Operating profit for period increased to $8.74 million (30 June 2004: $1.45 million).
Cash flow from operating activities for the period increased to $12.03 million (30 June 2004: $434,000).
Retained profit for period increased to $1.54 million (30 June 2004: $33,000).

Operational highlights

Proved and probable reserves within Northstar Gulfsands LLC, of which Gulfsands owns 52.6%, increased significantly as of 30 June 2005 to 58.1 billion cubic feet of natural gas equivalents (BCFGE) with a net present value discounted at 10% (NPV10) of $248.1 million (30 June 2004: 51.7 BCFGE with a NPV10 of $137.5 million).
Gulfsands increased its working interest in Block 26 in Syria to 50% and became the operator.

Gulfsands signed a Memorandum of Understanding with the Iraq Ministry of Oil on the Misan Gas Project.
Gulfsands increased its ownership in Misan Gas Project, Iraq to 100% from 85%.

Gulfsands successfully listed on AIM in April 2005 and raised approximately 30 million (net of expenses).
Northstar Gulfsands LLC had a natural gas discovery in the Gulf of Mexico that tested natural gas at a rate of 5.2 million cubic feet of gas per day with net reserves potential of approximately 1 BCFGE.
Northstar Gulfsands LLC participated in 10 recompletions and workovers on wells which resulted in approximately 3.2 BCFGE reserve additions at a cost of approximately $.50 per million cubic feet of natural gas.

Strategic highlights Subsequent to 30 June 2005:

Gulfsands commenced the acquisition of some 1,170 kilometers of 2D seismic on Block 26,
Syria.
Northstar Gulfsands LLC participated in two new natural gas discoveries in the Gulf of
Mexico with net potential reserves of some 2 5 BCFGE.
Darcy Energy LLC, owned 80% by Gulfsands, participated in a natural gas discovery in
Fort Bend County Texas with a 37.5% working interest. The well was production tested
at a daily rate of 1.5 million cubic feet of natural gas and 36 barrels of condensate.
Darcy Energy LLC commenced onshore gas production from the Emily Hawes Field in
Calhoun County Texas at a 34.375% working interest.

John Dorrier, CEO of Gulfsands Petroleum, said:

Gulfsands IPO, the acquisition of the additional interests in Syria and Iraq, and the continued strong performance in the Gulf of Mexico are key achievements during the first half of the year. Gulfsands is pleased to report that Northstar Gulfsands operations suffered minimal damage from Hurricane Katrina. Current production is over 90% of pre-storm levels and expected to increase further during the next few weeks as the few affected facilities are returned to production.

Gulfsands Announces Offshore Discovery in the Gulf of Mexico
Wednesday, December 14, 2005

Gulfsands Petroleum PLC has announced a new discovery in the Gulf of Mexico.

Exploration Discovery and Drilling Update for the Gulf of Mexico
Gulfsands participated at a 12.5% working interest in an exploration well on Eugene Island 58. This well has been drilled to a total measured depth of 11,655 feet and the wireline logs of the well indicated the presence of hydrocarbons within several zones with approximately 170 feet of potential net pay. This well tested natural gas at a rate of 8.2 million cubic feet per day and 134 barrels of condensate per day. Production casing has been set and completion operations have commenced and the well is scheduled to commence first production in late March of 2006. The net cost to Gulfsands for the drilling, completion and facility costs to hook up this well is estimated to be approximately $986,000.

Upon completion of operations on the Eugene Island 58 discovery well, Gulfsands will participate in a three well exploration drilling campaign in the immediate area, where Gulfsands will be participating with a 25% working interest in each of these wells.

Gulfsands also participated recently at a 13.15% working interest in a sidetrack well on Ship Shoal Block 177 at a net cost of approximately $465,000. This well had approximately 19 feet of net pay and was put on production last week at a gross daily rate of approximately 5 million cubic feet of natural gas and 31 barrels of oil.

The Company also participated at a 5.26% working interest in an exploration well at High Island 528 that was unsuccessful at a net cost to Gulfsands of approximately $188,000.

Since Gulfsands listed on AIM in April 2005, the Company has participated in the drilling of six offshore Gulf of Mexico exploration wells and four of those six have been discoveries.

John Dorrier, CEO of Gulfsands Petroleum, said:

We are pleased with the overall results of the 2005 exploration programs in the Gulf. These wells put the Company in a good position to move production back to pre-storm levels and above, as offshore pipeline infrastructure owned and operated by third-parties is brought back into service.

Gulfsands Announces Reserves Report for Tigris Structure on Block 26, Syria
Monday, January 30, 2006

Gulfsands Petroleum PLC (symbol GPX), the AIM listed oil and gas exploration, development and production company with activities in the USA, Syria and Iraq, reports that an independent reserves study has been completed by Ryder Scott Company, L.P. on the Tigris structure in Block 26, Syria.

Highlights

As the operator and having a 50% working interest in Block 26, Syria, Gulfsands engaged Ryder Scott Company, L.P. (Ryder Scott), an independent petroleum engineering firm, to conduct a reserves study based on the results of a well drilled on the Tigris structure in 1994 and 3D seismic data over the structure. Ryder Scott developed two cases for this evaluation, an oil case and a gas case, as there is not sufficient data available at this time to determine the expected hydrocarbon fluid contained within the Tigris structure. This reserves study as of 1 January 2006 classified recoverable Probable and Possible Reserves and Prospective Resource as follows:

For primarily a natural gas accumulation, Ryder Scott has classified 442 BCFG as Probable Reserves, 442 BCFG as Possible Reserves, and a further 3447 BCFG as a Prospective Resource. In summary total reserves potential among Probable, Possible and Prospective Resource is 4330 BCFG (722 MMBOE).

For primarily an oil accumulation, Ryder Scott has classified 104 million barrels of oil and 64 BCFG as Possible Reserves and a further 408 MMBO and 245 BCFG as a Prospective Resource. In summary total reserves potential among Possible and Prospective Resource is 512 MMBO and 308 BCFG (combined 563 MMBOE).


The study identified nine potentially productive zones within Palaeozoic age reservoirs in the existing well bore.

Gulfsands has signed a Letter of Intent with a drilling contractor to drill a well on the Tigris structure. Gulfsands plans to commence drilling this well in August 2006.

Block 26 Reserves

Subsequent to increasing Gulfsands working interest to 50% and becoming the operator of Block 26, the Group conducted a detailed review of the six wells previously drilled to test Palaeozoic reservoirs within the Block. From this work, Gulfsands concluded that three of the wells encountered potentially commercial hydrocarbon accumulations, based on drilling and independent wireline log evaluation. The largest of these probable accumulations, the Tigris structure, is found beneath the Souedieh Field, the largest oil field in Syria with estimated reserves of some 2 billion barrels of oil recoverable (approximately 1.3 billion barrels of oil produced to date). Gulfsands Production Sharing Contract in Block 26 includes oil and gas rights to Palaeozoic age reservoirs beneath all of the existing fields within Block 26, such as the Tigris structure, and oil and gas rights to all depths in areas outside of the existing producing fields.

Gulfsands engaged Ryder Scott to prepare an independent reserves study of the Tigris structure to quantify and classify reserves conforming to the definition approved by the Society of Petroleum Engineers and the World Petroleum Congress. The data used for the study includes wireline logs from a well drilled to the Palaeozoic in the Tigris structure in 1994, and a 3D seismic survey available over the Souedieh Field. Ryder Scott developed two cases for this evaluation, an oil case and a gas case, as there is not sufficient data available at this time to determine the expected hydrocarbon fluid contained within the Tigris structure. Reserves and resource figures in this announcement are stated in BCFG (billions of cubic feet of natural gas), MMBO (millions of barrels of oil) or MMBOE (millions of barrels of oil equivalent, where six thousand cubic feet of natural gas is equivalent to one barrel of oil).

The Tigris structure is of a significant size, potentially as large as some 75 square kilometres, and only one well bore currently exists on the structure. It is difficult to assess the full reserve potential within Proved, Probable and Possible Reserves at this time. However, based on the data that are currently available, the Ryder Scott report concludes that there are nine potentially productive zones contained within Palaeozoic age reservoirs found in the existing well bore on the Tigris structure. The report classifies 883 BCFG as Probable and Possible Reserves if the Tigris structure is primarily a natural gas accumulation. The report classifies 104 MMBO and 64 BCFG as Possible Reserves in these zones if the Tigris structure is primarily an oil accumulation.

The report further classifies an additional 3447 BCFG as an unrisked Prospective Resource within the gas case or 408 MMBO and 245 BCFG as an unrisked Prospective Resource in the oil case. The Prospective Resource was based on potential resources below the base of the hydrocarbon bearing zones encountered in the existing well bore, as a definitive water contact is not identified with the existing data.

In summary, the natural gas case equates to total reserves potential among Probable, Possible and Prospective Resource as 4330 BCFG (722 MMBOE), while the oil case equates to 512 MMBO and 308 BCFG (combined 563 MMBOE). Gulfsands 50% working interest in Block 26 and the Tigris reserves are subject to the fiscal terms of this Production Sharing Contract. Following this initial review, Ryder Scott will undertake a further review of the field development plan and costs, to quantify the economic value of the Probable and Possible Reserves and Prospective Resource.

John Dorrier, CEO of Gulfsands Petroleum, said:

This independent study confirms our conclusion that Block 26 contains probable pay in Palaeozoic reservoirs and significantly increases the Companys overall reserves. The report further demonstrates the lower risk associated with finding large oil and gas reserves in Block 26 and increases the total Block potential significantly.

This company looks promising...up 8p to 144p today.

The price as not moved up much since the day of the last RNS.

It will start to rise and I think it is better to get into it before it start shooting.

Buy Gulfsands Petroleum at 129p
Suggests Stewart Dalby of Oilbarrel.com

London's Alternative Investment Market has attracted another new recruit to its growing ranks of oil and gas stocks with news that Houston-based Gulfsands Petroleum hopes has raised 29.8 million at the placing price if 130p a share.

''AIM was almost the automatic choice," said a spokesman for the company, which was founded in 1997 by former BHP Petroleum executive John Dorrier, now chief executive and chairman of the AIM newcomer. "The record of AIM over the last 18 months for oil and gas companies has shown there's plenty of money out there for the right stocks. The London market also has an understanding of, and appetite for overseas exploration which isn't the case in the US, and given that most of the potential upside will be outside of the US, it seemed sensible to come to AIM."
That potential upside lies in Syria and, following the January 2005 signing of a Memorandum of Understanding with the oil ministry in Baghdad, in Iraq. The company has ambitious plans for Iraq, where its Misan Gas Project envisages the gathering, processing and transportation of the natural gas that is currently flared off when oil is produced in the south of the troubled country. Gulfsands has completed a feasibility study - ABB Lummus Global was the primary subcontractor for the work, which was completed in August 2004 - that envisages a two phase construction project: the first will take three years, the second a further two years. The project will involve the engineering, design, procurement, construction and operation of an associated natural gas gathering system, a Natural Gas Liquids (NGL) plant, and transmission pipelines.

"It will take significant investment to bring this to fruition," said the spokesman. "The crucial thing will be how they finance it, whether they bring in partners or go for debt or equity financing."

Once completed, the Misan Gas Project should produce some 46,600 barrels of NGL per day and 338 million cubic feet of dry sweet natural gas per day. Given the political and security concerns of working in Iraq however, no timeframes or price tags have been set for a project that many investors will rightly view as highly speculative in the current environment.

The production base comes from the company's 52.6 per cent stake in Northstar Gulfsands, which owns interests in 39 producing oil and gas fields offshore Texas and Louisiana. Those assets add up to a net production stream equivalent to 6,577 barrels of oil per day and a proved and probable reserves of 4.7 million barrels of oil and 29 billion cubic feet of gas in the US Gulf of Mexico.

That production stream should be boosted over the coming months as work begins to restart production from the Emily Hawes field on Matagorda Island in Texas. Gulfsands has an interest in Emily Hawes through its 70 per cent holding in Darcy Energy, which in turn holds 25 per cent of the gas deposit, which was shut in nearly 15 years ago due to the poor completion technologies employed at the time. The current plan involves the sidetracking of the original wells, re-drilling the proven productive intervals and completing the new wells with state of the art sand control technology. A pipeline is in place to allow for immediate sales into the pipeline grid, which is expected to get underway in the first half of this year.

Gulfsands is also active elsewhere in the Middle East, where it has a 20 per cent stake in Block 26 in Syria through a joint venture with fellow US company Devon Energy. The block covers 11,000 sq km and lies in a known producing area. The joint venture partners plan to shoot 2D seismic over the first half of 2005 with the first well slated for the fourth quarter. Gulfsands has identified 27 prospects on the acreage which could add up to a reserve base of 1.1 billion barrels of recoverable oil.

The management team behind the company has a track record in the business: Dorrier is a former senior international exploration executive for BHP Petroleum, while chief financial officer David DeCort is the former CFO of US independent Seven Seas Petroleum. Mahdi Sajjad, who will head up international business development, is the former managing director of International Development Corporation in Dubai.

It adds up to quite a substantial package. Whatever the value attributed to MoU signings in Baghdad - and most investors are likely to be wary of a small company punching above its weight in such a troubled area when the heavyweights are still steering well clear - Gulfsands' position in Syria and its exposure to the booming North American market will make it one of the more robust newcomers to the London market.

January 31, 2006
Gulfsands Announces New Offshore Discovery in the Gulf of Mexico

--------------------------------------------------------------------------------

Update on Gulfsands Production in the Gulf of Mexico

Gulfsands Petroleum PLC (symbol GPX), the AIM listed oil and gas exploration, development and production company with activities in the USA, Syria and Iraq, is pleased to announce a new discovery in the Gulf of Mexico.

Gulf of Mexico Exploration Discovery at Eugene Island 58

Gulfsands has participated at a 25% working interest in another exploration discovery within Eugene Island 58 (EI58). Following the exploration success at EI58 announced on 14 December 2005, this new EI58 exploration well has been drilled to a total measured depth of 13,914 feet (13,380 feet true vertical depth). Electric logs acquired during drilling operations indicate the presence of hydrocarbons within multiple zones, with approximately 188 feet of potential net pay. Production casing has been set and completion operations have commenced. A test of the lowermost productive interval in the well produced natural gas at a rate of 4.5 million cubic feet per day and 24 barrels of condensate per day. First production from this well is scheduled to commence in April 2006. The net cost to Gulfsands for the drilling, completion and facility costs to hook up this well is estimated to be approximately $2.4 million.

Gulfsands will also participate with a 25% working interest in two further exploration wells in the immediate area during 2006.

Here's an article just out on GPX.Registration is free.Makes good reading.

http://www.proactiveinvestors.com/registered/articles/article.asp?GPX2

Gulfsands Petroleum Plc: Interesting mix of plays in Gulf of Mexico, Middle East

Gulfsands Petroleum PLC is the holding company of an oil and gas exploration, development and production group based in Houston, Texas with activities focused in the USA, Syria and Iraq.

Gulfsands listed on AIM on the 8th of April 2005 raising 29.8m, and has since been positioning itself for an active drilling programme. Upon listing GPX had a 52.6% interest in Northstar Gulfsands, which owns interests in 39 producing oil and gas fields offshore Texas and Louisiana and operates 8 of those fields. Northstar Gulfsands has proved and probable reserves of 4.7 mmbbls of oil and some 29.2 bcf of gas as of November 1, 2004. Gulfands furthermore has 20% interest in the Syrian Block 26 with significant exploration potential, an Iraqi gas commercialisation agreement and some small gas interests onshore USA

This is still a bargain and worth buying.

Oh dear...very bad news...

Gulfsands says no moveable oil at Souedieh North Well in Syria - AFX

LONDON (AFX) - Gulfsands Petroleum PLC said it has completed drilling and suspended the Souedieh North well in Block 26, Syria, after being unable to recover moveable oil.

The AIM-listed oil and gas exploration and development company said preliminary analysis shows that the oil is low API gravity/high viscosity in the Tertiary reservoirs, and that the lower porosity and permeability Cretaceous reservoirs at this location may produce oil after mechanical or chemical stimulation.

Gulfsands is the operator and 50 pct working interest owner in the block.

newsdesk@afxnews.com

600K "X" trade gone through, might have cleared a sellers stock.

Could be interesting with drilling going on at the moment.

http://www.oilbarrel.com/email_index.html?page=/news/article.html?body=1&key=oilbarrel_en:1159843589&feed=oilbarrel_en


03.10.2006

Gulfsands Petroleum Back On Track In The US Gulf But Syria Is The Real Buzz In The Portfolio

Although all its production and revenue comes from the US, investors in Gulfsands Petroleum are currently watching not the waters of the Gulf of Mexico but the desert sands of Syria.

The AIM-quoted companys US production stream, back up to 2,800 barrels of oil equivalent per day following the hurricane disruption of 2005, is very nice to have, generating net income of US$874,000 on revenues of just over US$12 million for the first six months of the year. But Syria is home to the real excitement in the Gulfsands portfolio.

The company is currently drilling ahead with the high impact Tigris-1 exploration well, its second well on Block 26. This 11,000 sq km tranche of acreage, equivalent in size to 50 North Sea blocks, lies in a proven oil and gas province: the block is home to fields that are producing over 120,000 barrels of oil per day for the state oil firm, the Syrian Petroleum Co. There are numerous significant hydrocarbon accumulations here, mainly within the shallower Cretaceous reservoirs, totalling some 3 billion barrels of recoverable oil. Gulfsands production sharing contract gives it - and 50/50 partner Emerald Energy - the rights to the deep (Palaeozoic) reservoirs under existing fields and rights to all reservoirs outside the existing fields.

The partners first well on the block, Souedieh North-1, drilled in the second quarter, was something of a disappointment, failing to recover moveable hydrocarbons during wireline testing. The well has been suspended for further analysis to determine whether to stimulate the well through chemical or mechanical stimulation or to deepen it (or abandon it).

This has no bearing on the prospectivity of the Tigris structure, which has the potential to hold more than 4 trillion cubic feet of gas. The well will go down to 4,500 metres to target the Carboniferous and Devonian-aged reservoirs that lie directly under the Souedieh field, the largest known oilfield in Syria.

This is not the first well to target these deep reservoirs. In 1994 SPC drilled the S1100 well, about 1 km to the northeast of Gulfsands wellsite. Although the state oil company struggled with the deep well, wireline logs indicated the presence of a substantial hydrocarbon column. This, however, needs to be proven by the drillbit: investors have another month or so until the well hits target depth.

This isnt high risk wildcatting - the well is surrounded by producing fields - but as the results from Souedieh North-1 show, nothing is certain until the drillbit goes down. Gulfsands does have plenty of opportunity to hit pay dirt, however: it has identified 31 prospects within the block, with mean resources potential of more than 1 billion barrels of recoverable oil. It is these kinds of numbers that mean the companys production streams from the US, although very welcome, are something of a sideshow for investors.

Up today :)

Getting near the 100p level now, lets hope we can break through, and can then break upwards.

Breaking through 100p :)

Gulfsands Petroleum PLC
19 October 2006

Drilling Update - Tigris-1 well, Syria

Appointment of Director of Corporate Development

Expansion of London presence

London, 19th October, 2006: Gulfsands Petroleum plc (AIM: GPX), the oil and gas
production, exploration and development company with activities in the USA,
Syria and Iraq, is pleased to provide an update on drilling activity in Syria
and announce the appointment of Kenneth Judge to the Board of Directors as
Director of Corporate Development in parallel with the establishment of the
Company's new London office.

Tigris -1 Well

The Tigris-1 well in Block 26, Syria is drilling at a depth of 2,280 metres and
is estimated to take 90 to 120 days to drill and evaluate. Drilling of Tigris-1 commenced on 10 September 2006. The well is targeting a total depth of
approximately 4,500 metres. The Company owns the deep rights in Tigris to oil
and gas contained in Paleozoic reservoirs, which will not be penetrated until
near the end of drilling this well.

Gulfsands has commenced the acquisition of an additional 266 kilometres of 2D
seismic in Block 26 for the purpose of finalizing the drilling program for the
first half of 2007.

Director of Corporate Development

With immediate effect, Kenneth Peter Judge OAM has been appointed as Director of Corporate Development. Mr. Judge's role will primarily include corporate
strategy and liaison with the Company's institutional shareholder base.

Mr. Judge, is well known to the London investment community as a corporate
lawyer with extensive business management and corporate development experience
having held numerous public company directorships and more recently having been
engaged in the establishment or corporate development of oil and gas, mining and technology companies in the United Kingdom, Middle East, USA, Australia, Europe, Canada, Latin America and South East Asia. Mr. Judge has undergraduate and post-graduate degrees in Commerce, Jurisprudence and Laws from the University of Western Australia and was awarded an Order of Australia Medal in 1994.

Expansion of London Presence

In response to an anticipated increase in the Company's activity in the Middle
East, Gulfsands is establishing a London office at 33 Cavendish Square, London
W1G 0PW. This office will serve as the Company's corporate and technical
headquarters in support of activity in the City of London and operations in the
Middle East.

Gulfsands' CEO, John Dorrier, said:

'We are pleased to welcome Ken Judge to the Board. Ken has a wide range of
relevant corporate development experience and will assist with shaping and
executing the Company's strategies and liaison with our largely Europe based,
institutional shareholders. The opening of our new London office should also
facilitate the Company's presence in the City and provide a home for an
expansion of our technical resources to support our operations in Syria and
Iraq.'

Ticking up :)

Closed above 100p :-)

http://www.investegate.co.uk/Article.aspx?id=200612070700313996N

Gulfsands Petroleum PLC
07 December 2006
Drilling Update - Tigris-1 well, Syria

London, 7th December, 2006: Gulfsands Petroleum plc (AIM: GPX), the oil and gas
production, exploration and development company with activities in the USA,
Syria and Iraq is pleased to provide an update on the drilling of the Tigris-1
well in Block 26, Syria.

The Company has set 9 5/8 inch casing at a depth of 3,435 metres on the Tigris-1
well in Block 26, Syria. At this depth, the wellbore has entered into the
Palaeozoic aged geologic section to which the Company owns contractual rights in
the Tigris structure. The well is currently drilling at a depth of 3,546 metres,
and it is anticipated to take a further 45 days to complete drilling and
wireline logging operations on this well.

The Tigris-1 well is projected to reach a total depth of approximately 4,500
metres and the surface location is located within the areal limits of the
Souedieh Field, where production of oil and gas from Cretaceous and Triassic
reservoirs is operated by the Syria Petroleum Company. The Tigris-1 well
objectives are the deeper Palaeozoic age reservoirs, for which the Company holds
contractual rights, underlying the Souedieh Field. Gulfsands is the operator
and has a 50% working interest in Block 26.

The Tigris-1 well is the second well to target the Palaeozoic aged reservoirs
within the overall Tigris structure. The S1100 well, drilled in 1994 by the
Syrian Petroleum Company and located approximately 1 kilometre northeast of the
Tigris-1 well, was the first well to intersect these reservoirs within this
structure. Independent interpretation of the wireline logs from the S1100 well
indicates a substantial hydrocarbon column. The main objective of the Tigirs-1
well is to confirm the presence of this hydrocarbon column.

The Tigris structure has been estimated by Ryder Scott Company, L.P. to have
probable reserves of 442 BCF of natural gas, and when combined with possible
reserves and prospective resource a total potential resource of some 4.3 TCF of
natural gas, or 562 million barrels of oil. The Ryder Scott reserve reports can
be viewed on Gulfsands' website at www.gulfsands.net.

Gulfsands has also completed its recent seismic acquisition programme,
consisting of 266 kilometres of 2D seismic data. This data will be used to
assist the definition of potential drilling locations. Processing is currently
underway and delivery of the final interpretations is anticipated to commence
prior to year end.

Gulfsands' CEO, John Dorrier, said:
'We are pleased to have reached this landmark depth in Tigris-1. We can now
begin drilling the geologic section which the Company owns contractual rights
to, and evaluate the reservoir concepts this well is designed to test.'

http://www.oilbarrel.com:80/email_index.html?page=/news/article.html?body=1&key=oilbarrel_en:1166061608&feed=oilbarrel_en


14.12.2006

Gulfsands Going For An Exploration Step Up With Its Tigris-1 Well In Syria
Gulfsands Petroleum, the London AIM quoted company, has a profile which investors in small and mid cap companies like to see. There is production in the US and some potentially big exploration upside in Syria. There has been news on both fronts. We reported a few weeks ago that the US production stream was back up to 2,800 barrels of oil equivalent a day, following the hurricane disruption of 2005. We now understand that it has strengthened and is growing satisfactorily. This provides respectable amounts of cash flow on gross revenues of just over US$12 million for the first six months of the year.

But the real excitement is in Syria with the possibility of a significant step up through exploration. Gulfsands has reported that on the drilling of the Tigris-1 well in Block 26, in Syria, it has set 9 5/8 casing at a depth of 3,435 metres on Tigris. At this depth the well bore has entered into the Palaeozoic aged geological section to which the company owns the contractual rights in the Tigris structure.

Block 26 is an 11,000 sq kms tranche of acreage, equivalent in size to 50 North Sea blocks. It lies in a proven oil and gas province: the block is home to fields that are producing over 110,000 barrels of oil per day for the state oil firm, the Syrian Petroleum Company (SPC). There are numerous significant hydrocarbon accumulations here, mainly within the shallower Cretaceous and Triassic reservoirs, which are thought to total 3 billion barrels of recoverable oil. Gulfsands Production Sharing Agreement (PSA) gives it - and its 50/50 partner Emerald Energy - rights to the deep Palaeozoic reservoirs under the existing shallower fields.

What the companys latest statement means, in laymans terms, is that with the new casing, Gulfsands is now drilling in its own rocks, as they say. The partners first well on the Souedieh North-1 block, drilled in the second quarter of this year, was something of a disappointment, failing to recover moveable hydrocarbons during wire-line testing. Drilling was suspended for further analysis to decide whether to carry out chemical or mechanical stimulation on the well, or to deepen (or abandon) it.

This has no bearing on the prospectivity of the Tigris structure. The Tigris-1 well will go down to 4,500 metres to target the Carboniferous and Devonian- aged reservoirs that lie directly under the Souedieh field, the largest field in Syria.

This is not the first well to be drilled into these deep structures. The S1100 well, sunk by the SPC about one kilometre northeast of Gulfsands well site in 1994, indicated a substantial hydrocarbon column. So, strictly speaking this is not a wildcat well. The main objective of Tigris-1 is to confirm the presence of this hydrocarbon column.

The Tigris structure has been estimated by independent reservoir surveyors, the Ryder Scott Company, to have probable reserves of 442 bcf of gas, which combined with possible and prospective resources, totals a potential resource of 4.3 tcf of natural gas or 562 million barrels of oil.

But as the Souedieh North-1 well showed, only the drill bit will tell how much oil or gas there is, if any. The well should take another 35 days or so to reach target depth.

From AFN :


Scrooge McDuck - 22 Dec'06 - 19:37 - 332 of 332

didn't notice this on Monday.

Broker Recommendations - Monday 18th December 2006, 12:15 pm

Teather & Greenwood reiterates reduce Provident Financial and says buy Petrofac , Soco International (LSE: SIA.L - news) and Gulfsands .
The broker says sell Cairn Energy .

Anyone got the full version of the Teather & Greenwood note?

I've only seen the version on newratings.com (from October)

-------------------------------------

Gulfsands Petroleum Drilling To Boost Shares

Thursday, October 19, 2006 5:48:25 AM ET

0829 GMT [Dow Jones] Gulfsands Petroleum's (GPX.LN) shares should appreciate as drilling progresses, says Teather & Greenwood. Says its drilling update indicates its Tigris-1 well in Syria is half way to its target depth. Notes the well could contain probable and possible gas reserve levels worth 135p a share. But notes it could also contain possible reserves of oil and gas worth 236p a share. Maintains its 90p per share core asset value, but says exploration success will have a marked effect on shareholder value. Reiterates buy rating. Trades unchanged at 96p. (KHO)

Nicely over 100p again, and as we are now drilling the prospective zone of the well, I like jumps in the SP :)

Well, its nice to see the rise continuing onwards from where we left it end of last year.

The Tigris well now is into the final stages of drilling so there should be some speculative buying expected, and of course should it be leaky then some insider buying or selling......so its interesting its been rising of late now we are "in the zone" of the drill.

A nice little pre-spud summary of what the hopes are for the Tigris drill :


1. Emerald Energy is talking up the potential of its Tigris structure onshore Syria, where drilling of the Tigris-1 well is expected to commence in September. The company highlighted new information released by operator Gulfsands Petroleum, the operator of Block 26 , following an economic valuation by Ryder Scott Company, L.P. The latter has completed an economic valuation of the probable and possible reserves (unrisked) on Tigris, which can be viewed on Emerald's website ( www.emeraldenergy.com ). On 30 January 2006, Ryder Scott completed a reserves study on the Tigris structure in which two cases were considered as there was insufficient data available at that time to determine with certainty the hydrocarbon fluid contained within the structure. This reserves study classified probable and possible reserves and prospective resource as follows: If Tigris is a natural gas accumulation, Ryder Scott has classified 442 Bcf of gas as probable reserves, a further 442 Bcf of gas as possible reserves, and a further 3.447 Tcf of gas as a prospective resource. In summary, total estimated hydrocarbon potential for probable and possible reserves and prospective resource in this case is 4.33 Tcf of gas, equivalent to 722 million boe. If Tigris is an oil accumulation, Ryder Scott has classified 104 million bbl of oil and 64 Bcf of gas as possible reserves and a further 408 million bbl of oil and 245 Bcf of gas as prospective resource. In summary, total estimated hydrocarbon potential for possible reserve and prospective resource in this case is 512 million bbl of oil and 308 Bcf of gas, equivalent to 563 million boe. If Tigris is a natural gas accumulation, Ryder Scott determined the probable reserves net to Emerald after applying the fiscal terms of the production sharing contract are 102 Bcf of gas having a net present value, discounted at 10%, of $233 million. In addition, the accumulation rates 75 Bcf of gas of possible reserves net to Emerald having a net present value, discounted at 10%, of $261 million. In summary total estimated probable and possible reserves for the natural gas case is 177 Bcf of gas (30 million boe) with a net present value of $494 million. If Tigris is an oil accumulation, Ryder Scott determined the possible reserves net to Emerald after applying the terms of the production sharing contract is 19.4 million bbl of oil having a net present value, discounted at 10%, of $452 million. Emerald holds a 50% interest in Block 26 in its 100% subsidiary SNG Overseas Ltd.

The strength continues, roll on some good news, fingers crossed :)

Very nice USA update, and now we await drill results on the big Tigris well in Syria :


http://www.investegate.co.uk/Article.aspx?id=200701150700284821P

Gulfsands Petroleum PLC
31 January 2007

Rig Contract Signed for Block 26, Syria

New Exploration Well on Block 26, Syria

Drilling Update - Tigris-1 well, Syria


London, 31st January, 2007: Gulfsands Petroleum plc (AIM: GPX), the oil and gas production, exploration and development company with activities in the U.S.A., Syria and Iraq is pleased to announce that the Company has executed a formal contract for a drilling rig to be used for drilling the next exploration well on Block 26, Syria in February 2007.

Rig Contract Executed - Khurbet East Exploration Well

Gulfsands, the operator and 50% working interest owner in Block 26, Syria, has executed a formal contract with Crosco, a drilling company based in Croatia, for the Crosco 602 rig, a 2,000 horsepower drilling rig to be used for drilling one exploration well scheduled to commence by mid February of this year. The Crosco 602 rig will be utilized to drill the Khurbet East exploration prospect ('KHE 1 ') and has now been mobilized to the drill site.

KHE 1 is a fault-bound structural culmination, with closure mapped at multiple potential reservoir levels. These include reservoirs of Cretaceous, Triassic and Palaeozoic age. The well is located approximately 12 kilometers southwest of the Souedieh Oil Field and 12 kilometers south of the Rumailan Oil Field, in the northeastern portion of Block 26. The total drilling depth of the KHE 1 well is expected to be approximately 3,700 meters and require approximately 90 - 100 days to drill and evaluate.


Tigris-1 Update

The Tigris-1 exploration well is currently drilling ahead at a depth of 4,391 metres to a planned total depth as previously announced of approximately 4,500 metres.

Following the drilling of the KHE 1 well the Company is planning to drill its fourth commitment well on Block 26 once the rig currently drilling the Tigris-1 well is returned to Gulfsands around July 2007.


Gulfsands' CEO, John Dorrier, said:

'We are very pleased to have reached agreement with Crosco for the use of the 602 rig in a market which is increasingly tight for equipment of this size and capability. With the anticipated return of the current rig later in the first half of the year, we can now look forward to being able to undertake a nearly continuous drill programme on Block 26 during 2007.'

Why is GPX dropping 10p on the above news?

Tigras was expected to be at full depth and tested this week, but now looks to be 2/3 weeks late, so some of the traders in just to get the good news have bailed out but will be back in, in the next 2 weeks and the share price back up to, ready for the jump to about 145+ on the good news i hope.

Nov 06 Research report now available to read (PDF file)

http://www.gulfsands.net/i/pdf/gulfsands061106outlook.pdf

http://www.zawya.com/Story.cfm/sidKUN0077070131171527/secCountries/pagSyria/chnSyria%20News/obj224038CA-8F1A-11D4-867000D0B74A0D7C/

Oil prospects in Syria promising - minister

DAMASCUS, Jan 31 (KUNA) -- Syrian Minister of Oil Sufiyan Alaw said Wednesday the oil and gas reserves in Syria were large and there were no concerns about the oil prospects in the country.

Alaw said his ministry was making efforts to contain the slow gradual decrease of oil production through enhanced prospecting operations and development of existing oil fields.

There are 13 foreign oil companies prospecting for oil nationwide in addition to two firms that are developing the existing oil fields to enhance their output, he disclosed.

The Oil Ministry is poised to declare, before the end of the first quarter, the discovery of six on-shore gas and oil locations in a total area of 30,000 square kilometers, in addition to four off-shore locations in the Mediterranean Sea, he added.

The minister urged global oil and gas firms to offer bids for prospecting and extracting operation when the ministry declares the oil and gas locations.

The gas prospects are also promising thanks to the efforts of the Syrian Oil Corporation that led to the discovery of gas fields in Al-Kalamon area, he added.

Syria's oil output went down from 600,000 to 4,200 barrels a day. It is expected to stand at 300,000 barrels a day in 2025.

On the contrary, the gas production in the country is expected to grow from 23 million presently to 40 million cubic meters a day in the coming years.

in the meantime GPX plummets with report of a dud well ...... nothing that surpising for as i keep saying, commercial finds are about 1:4 if you are very good and lucky.

didnt think a positive outcome of tigris was factored into the price, but hey, must be wrong, seems to be quite a hard hit though...

the market does not like disappointment .... as you will see with all minnows, the world and his wife and their dog start jumping around when the mere thought of a drilling is suggested ..... if it proves to be a dud, as so often, they all pile out with a vengeance .... MMs don't want the stock anyway, so mark down the price even more heavily

What is boosting GPX today...up 14p?

they found something called oil

LONDON (AFX) - Gulfsands Petroleum PLC and Emerald Energy PLC said they have encountered hydrocarbons during early drilling at their Khurbet East exploration well in Syria.

The well is on schedule and drilling will continue to evaluate the underlying areas.

'The ultimate commerciality of the hydrocarbons encountered at Khurbet East can only be determined after further work including production testing and appraisal drilling,' said Gulfsands chief executive John Dorrier.

Gulfsands and Emerald own a 50 pct interest each in the block which contains the well, and Gulfsands is the operator.

Positive article re GPX HERE

A new article is available, click HERE

Recent CEO interview, click HERE

Saw a presentation last night, and I have to confess they look a good bet, if you ignore the political risk.

New article, click HERE

I wonder why he says there WAS $35mil cash at end of dec, ??

GPX are presenting in London soon!

Details and FREE registration can be found here;

For details and FREE registration, CLICK HERE

These are superb evenings in a lovely hotel in the heart of Mayfair!

Mix with other investors, market professionals, and the CEO's of the presenting companies for complimentary wine and canapes afterwards!

Nearest tubes are Green Park and Bond Street.

buying volume is high but the sp is down? anyone know whats going on?

this is becoming an interesting little minnow, not least because of their interests in iraq and the imminent codswallop due from baghdad

Breakout today...shame it's not Isable...

remember that EEN and GPX shared the same Kurbet field (i think), so presume the reckoning is (a) that field has lots of potential and (b) sinochem may now be eyeing up GPX having taken out EEN

Yep, I had thought of that.

sp has suddenly bolted, but watch 230 which could easily prove a major hurdle as it's the all-time high (promise, halifax, it really is!)

Tipped in the Times the other day.

Ken Judge interview, click HERE

Interesting to note that we had a new Buy reco from Oriel yesterday.

All in all a very bullish list of broker buys and not often you get more or less a full deck like this.....

Gulfsands Petroleum PLC

FORECASTS
2009 2010

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Oriel Securities
12-08-09 BUY 17.49 15.20 37.21 32.40

Seymour Pierce
07-08-09 BUY 14.81 14.10 22.33 17.10

Fox Davies Capital [R]
06-08-09 BUY 13.74 0.09 70.89 0.64

Canaccord Adams
30-07-09 BUY 17.87 15.27 27.61 23.21

Edison Investment Research
24-07-09 None 11.77 8.45 18.83 13.98

2009 2010
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 16.76 14.87 25.08 20.28
1 Month Change 1.96 0.21 4.43 4.68
3 Month Change 6.20 6.77 1.93 1.90


GROWTH
2008 (A) 2009 (E) 2010 (E)

Norm. EPS % % 36.38%
DPS % % %

INVESTMENT RATIOS
2008 (A) 2009 (E) 2010 (E)

EBITDA 4.71m 27.67m 39.99m

EBIT -1.43m m m

Dividend Yield % % %

Dividend Cover x x x

PER -634.07x 14.76x 10.82x

PEG f f 0.30f

Net Asset Value PS 63.66p p p

Recent article from Telegraph online....

Gulfsands hits another milestone

By Garry White
Published: 9:26PM BST 08 Aug 2009

Gulfsand Petroleum

There was more positive new this week from oil producer and explorer Gulfsands Petroleum. The company said that it had successfully completed the expansion of its early production facility at Khurbet East in Syria. It now has a capacity of 18,000 barrels per day.

This has resulted in an increase in gross daily oil production from the Khurbet East field from approximately 10,730 barrels of oil per day (bopd) in June to approximately 14,700 bopd. This is the latest stage in the company's development and is reassuring progress.

Gulfsands has a working interest of 50pc of the block with the other half held by Emerald Energy, which is currently in a bid situation. It is believed that state-owned Chinese companies are interested in the assets. Further production growth is expected over the next year or so, rising to a peak of around 30,000 bopd.

Questor recommended buying shares in Gulfsands in April at 182p and the shares are at about the same level now. The company's operations in Syria, where it has a licence in Block 26, are very exciting. The block is very large and it also has infrastructure, including a pipeline, close by. The company aims to become a significant exploration and production company in the Middle East and seeks to be viewed as a preferred operator and partner.

Gulfsands also has some producing assets in the US, but these are non-core. The wells are currently not producing at their maximum rate because of hurricane damage over the last two years, but the assets are being repaired and will eventually be sold off when market conditions improve. Until then, they will provide the group with cash flow.

The company has a solid balance sheet. It has no debt and, at the end of the last financial year, it had $36.8m (22m) of cash in the bank. It is expected that the group will be able to fund its capital expenditure programme from current cash balances and its own cash flow. So the prospect of dilutive equity placings which are always a risk with exploration companies look slim.

The company's management owns about 12pc of the group, and this also makes a placing less likely after all, they wouldn't want to dilute their own stakes in the group, would they? Questor always prefers it when the interests of management are aligned with the interests of shareholders.

Over the longer term, the company is also moving into Iraq, although this project is at a very early stage, so it is likely to take some time before solid news flow comes from this project.

In January 2005, Gulfsands signed a memorandum of understanding with the Ministry of Oil in Iraq for the Maysan Gas Project in the south of the country.

The project involves the design and operation of a gathering system for gas currently being flared as a waste product of oil production.

The group's medium-term goal in Iraq is to secure oil and gas exploration and development projects. Talks are ongoing.

The shares are trading on a December 2009 earnings multiple of 9.2 times, falling to 6.7 in 2010.

This is a growth share, so it does not pay a dividend, making it unsuitable for those investors pursuing an income strategy.

Buy.

http://www.telegraph.co.uk/finance/markets/questor/5994532/Gulfsands-hits-another-milestone.html

A lull in sp rise here...should pick up sooner or later...

Almost reached 40p.

don't confuse your GPX with your GKP. though easily done i know!

sorry wrong thread.

Nor your GP....he might not be amused...

This jumps up like someone's bitten it's bottom !.

Starting to break out now.....really climping steeply....in time I can see this hitting 300p......TW is tipping this one and I think he's right.

GPX has been flagged by a few pundits in the last 2/3 months

Holy mackerel !...what's happening here ?.

260 was my target. Now have to decide whether to ride the wave or stick to my original plan.

Looks good for 300p soon Harrycat.

may well be something of nothing, but i see that yesterday(?) sp teased back below its previous all-time high and has subsequently bounced straight back up

PAY ATTENTION!
no news out, but sp zipping away on relatively high volume - daily average is normally +/-450k

Two things 1, the resumption of gas supply in the gulf coming and 2 : discussions with Iraq about a big contract on the agenda possibly together with crude doing well.

with 1.25m now traded, it's not impossible that sinochem are building their stake - they took out EEN, the partner in Khurbet

Tipped in today's Telegraph

Well they're a bit late .....next thing they'll say the market's recovering...

worth posting in full i think .....

Gulfsands Petroleum PLC
Half-Yearly Results for the Six Months Ended 30 June 2009
Highlights
Operational

* Average working interest production 6,165 boepd vs. 1,699 boepd
in H1 08
* US production still not fully restored following 2008 hurricanes
* 850 km� of 3D seismic data acquired on Block 26, Syria
* Average sales price for Syrian production in H1 09 : $44.0/bbl, a
discount to average Brent of $7.9/bbl

Financial

* Revenues up 47% to $29.0 million (H1 08: $19.7 million)
* Net profit $3.7 million (H1 08: loss of $10.3 million (restated))
* Net cash from operations, before working capital movements, $12.4
million (H1 08: $5.4 million)
* Capital expenditure $14.7 million (H1 08: $11.3 million)
* Cash balance at period end of $31.9 million (31.12.08: $36.8
million).

Post Period Events

* Capacity of Early Production Facility increased to 18,000 bopd
gross
* Year-end target of 16,000 bopd from Khurbet East Field reached
mid-September
* Average discount to Brent of Syrian oil sales in July and August
fell to below $3/bbl


Gulfsands' Chairman, Andrew West, said:

"The first half of 2009 has demonstrated the tangible financial
benefits of Gulfsands' Middle Eastern strategy. Despite a relatively
weak oil price during the period, we have not only increased revenue
and operating cash flow substantially as compared to the first half
of 2008 but have delivered the first profit for shareholders for five
years. We are also delighted to welcome Sinochem as our provisional
new partner in Block 26 and look forward to working closely with them
to exploit aggressively the significant development and exploration
opportunities remaining within the Block."

Sp keeps on banging it's head on the 250p ceiling.....got to burst through this soon...

It's time for a rise here...16500 barrels per day..oil near $80 and this is down...should be up...

16500 bopds is not that exciting, but certainly sp has gone to sleep of late ..... if it drops back to 220, then may be worth buying again

Market cap 286 million pounds....cheap in my view with 600 million barrels underfoot.

JKX 486 million, MRS 400 million, those are main market...and then you come to GPX...also with USA assets.....286 million...JKX production 12000, MRS 18000, GPX 16000.

a personal view could be taken that a bounce from this 50 dma level could be due too

Nice graph, thanks.

17000 barrels of oil per day and still it won't go up....cheap when compared to others...

the following is interesting .... possibly presages a bid, though that may be wishful thinking


The Company was notified on 4 November 2009, by Schroders plc that following an acquisition of shares on 3 November 2009, Schroders Investment Management Limited ("SIML") is now the holder of 25,062,961 shares representing 20.85% of the Company's issued share capital and has voting rights over 19,267,422 shares representing 16.03% of the total issued and voting share capital of the Company.

Is this a mirror image of the last step ? (see graph), before a sharp rise....about time...

perhaps i misread this if it was issued a couple of days ago, as i thought then it spoke of a disposal .... can you check back 2/3/4 days?

Rns on the 18th...not going to change much....this has to go higher.

The Company was notified on 18 December 2009 by Schroders plc that, following a purchase of shares on 16 December 2009, Schroders Investment Management Limited ("SIML") is now the holder of 25,343,924 shares representing 21.08% of the Company's issued share capital and has voting rights over 19,331,893 shares representing 16.08% of the total issued and voting share capital of the Company.

Gulfsands Petroleum started at RBS with buy rating, 325p target price
The current share price undervalues Gulfsands's producing assets, says RBS analyst Phil Corbett, providing a 'free' option on the 2010 exploration campaign in Syria.

'If sustained, this discount and early signs of success in the exploration programme could prompt Sinochem to consolidate its Block 26 interest.'

Time this went up...

Sp breakout !.

Regarless of the latest update : the assets in the Gulf of Mexico must be nearly back on line after the hurricane damage a couple of years ago...an rns about that soon ?.

Sorry, double post.

Broker recommendation:

Last August, Sinochem, the Chinese oil group, made an $880m all-cash takeover offer for Emerald Energy the UK-listed company that held the remaining 50% stake in Gulfsands's Syrian assets. Although Gulfsands is not viewed as a short-term seller, that deal did nothing to diminish the view that one day Sinochem will come for the other half, too. At 274p a price equivalent to its estimated current net assets buy on weakness says the Times

The first of the Syrian wells spudded is a DUD!

no shit sherlock! ..... well spotted a day and a half late

Haha...better late than never.

RNS bid approach.

excellent little earner this one has been for me!

purely for interest, can anyone remember what premium over the pre-bid price sinochem paid for emerald?

33.81 per cent. to the Closing Price of 560.50 pence per Emerald Share on 10 July 2009, the last Business Day prior to the announcement by Emerald that it had received an approach;

11.11 per cent. to the Closing Price of 675.00 pence per Emerald Share on 11 August 2009, the last Business Day prior to this Announcement; and

46.64 per cent. to the average Closing Price of 511.44 pence per Emerald Share over the three-month period ended on 9 July 2009.

http://www.londonstockexchange.com/exchange/prices-and-news/news/market-news/market-news-detail.html?announcementId=10148004

many thanks ...... by rationalisation only, potentially still a bit of upside here, but not a time to buy from zero

any guess's who's made the approach?? who would be interested?

almost certainly sinochem who took out GPX's site partner emerald energy

you think it will gain a couple of quid a share like EEN if it happens or more?

Sold out ten days ago after being in for 3 years..got bored.........agggggghhh....

really no idea ..... i only asked about emerald out of curiosity and the obvious link

RF jumped ship again......... don't know what to say...lol

Oil and gas explorer Gulfsands Petroleum is set to turn down a preliminary takeover approach on Friday, the Financial Times reported.
Citing people familiar with the situation, the FT said the board of the Syrian-focused explorer had decided to reject the approach, understood to be from a large Indian oil group.
Analysts had also pointed to Sinochem, China's No. 4 oil company, as a possible acquirer as it co-owns block 26 in Syria with Gulfsands through its acquisition of Emerald Energy in 2009.

No one at Gulfsands, whose shares surged 20 percent to an all-time high of 312.5 pence on Thursday, could immediately be reached for comment.

=============

this will certainly hit sp first thing, but suspect (hope) just opening salvos

not the drop i was expecting....sold half first thing..

sp holding remarkably steady ...... can't be a bad sign

Summary of a note from Matrix Corporate Capital:
"We think that shareholders could reasonably expect a potential takeover of Gulfsands for cash at no less than 350p/share, and possibly 510% above that.
Still, with such a volatile situation, and no certainty of a takeover, there remains, in our view, about 50p downside and about 50p upside to the stock, which given the risks looks about right for now."

looks like i drop a b*****ck again, climbing again, glad i only sold half..

Oil India, Indian Oil Said to Consider Raising Gulfsands Offer
By Rakteem Katakey and Catherine Airlie

March 22 (Bloomberg) -- Oil India Ltd. and Indian Oil Corp. may raise their offer for Gulfsands Petroleum Plc after the U.K. company with assets in Syria and the Gulf of Mexico spurned an approach valuing it at about 380 million pounds ($570 million), a person familiar with the matter said.

The two state-owned Indian companies want more feedback from London-based Gulfsands and havent decided on their next step, said the person, who declined to be identified because the situation remains under discussion. Investment bank Seymour Pierce is advising the bidders, said the person.

The original approach was at 315 pence a share, said two people familiar with the matter, who declined to be identified because the figure hasnt been publicly disclosed. Gulfsands termed the offer wholly inadequate on March 19.

Gulfsandss largest shareholder, London-based Schroders Plc, would be willing to consider a higher offer, said Andy Brough, who manages Schroders funds that hold the stock.

If someones offering more than the current share price, then why not speak to them, Brough said yesterday. Schroders owns a 22 percent stake in Gulfsands.

Gulfsands rose 1.8 percent to 318 pence in London trading on March 19, taking the companys market value to 382.4 million pounds. The stock had surged 20 percent the day before, when the company said it had received an approach, without specifying who had made it.

Bobby Morse, an external spokesman for Gulfsands, yesterday declined to identify any bidder or pricing.

Fuel for Growth

The Indian government is seeking to buy energy assets abroad to make up for declining production at home and to cater to an economy that is likely to grow more than 8 percent in the fiscal year starting April 1. State-run Oil & Natural Gas Corp. bought Imperial Energy Plc for 1.4 billion pounds last year in its largest acquisition.

Gulfsands owns a 50 percent stake in a block in Syria that is producing about 11,000 barrels a day of crude oil, according to the companys Web site. It also owns interests in 44 blocks, including 30 producing blocks, off the coast of Texas and Louisiana.

Gulfsands was granted a 25-year production license in January from Syrian authorities to develop the Yousefieh oilfield. Production will start in April, with a target to produce 6,000 barrels a day from the field by 2012, the company said in a statement Jan. 26.

A report on the companys audited reserves likely to be released by the end of this month may show they have increased over the last year.

Looking Abroad

We are looking at various opportunities around the world, Oil India Chairman N.M. Borah said by phone March 20. We are in various stages of negotiations, and we hope something works out. He declined to comment on whether the countrys second-largest state-run oil explorer is bidding for Gulfsands.

Brij Mohan Bansal, chairman of Mumbai-based Indian Oil, said March 20 he would reserve comment on whether his company, the nations second-biggest refiner, is bidding.

Oil India, based in Duliajan in Assam state, has a market value of 267 billion rupees ($5.9 billion). Indian Oil is valued at about $16 billion.

The Indian government has told ONGC and Oil India to acquire at least one big asset each in the year starting April 1, Oil Secretary S. Sundareshan, the most senior civil servant in the Oil Ministry, said March 18.

Cnooc Ltd., Chinas biggest offshore oil explorer, on March 14 agreed to buy a 50 percent stake in Argentine oil producer Bridas Corp. for $3.1 billion as it seeks to add overseas reserves.

New article, click HERE

Broker note from Canaccord today:
"Gulfsands announces FY09 results, with the highlight being a material increase in the estimate of Proven plus Probable (2P) oil reserves associated with its Khurbet East field in Block 26, Syria. Reserves have been increased following much better than expected performance from the field since coming onstream in the summer of 2008, with very little evidence so far of water entering the main reservoir. As a result, independent reservoir engineers have increased their estimates for recoverable reserves from the field from 70m barrels at end-2008 to 92m barrels at end-2009. This excludes the impact of last years production of 4.6m barrels, i.e. the increase was actually even better.
Our NAV for Gulfsands of 322p/share includes 207p/share for core value, assuming a long term oil price of US$70/barrel and a 12% discount rate. We include a further 69p/share for risked development upside and a further 36p/share for risked exploration upside. At a long-term oil price of US$85/barrel, we reach a core NAV of 252p/share and a total NAV of 367p/share. Assuming a 10% discount rate and at US$85/barrel, we reach a core NAV of 280p/share and a total NAV of 410p/share. "

New article, click HERE

Reuters - "According to DNA, Oil India and Indian Oil are likely to put in a fresh bid for GPX. We will have to do something now, said a senior official with one of the two Indian firms. We are definitely going to do something, but it is too early to disclose what it will be, he added, when asked if a new proposal was in the works. Industry sources expect the Indian firms to make one more try, though they may not match the managements expectation of 400p a share. Due to the size of the deal, both companies will have to seek the Indian governments approval before making a binding offer. The process itself is drawn out, as the proposal has to be approved at various levels, such as the ministry, committee of secretaries and finally the Cabinet, before it is cleared."

if bid is to be <400, then at 320 GPX is arguably pitched about right for now

http://iball.iii.co.uk
cyril

load of rubbish.....

Bb
i clicked on it too. stayed about 30 seconds, so not really able to pass comment, cept to say they had a tesco article on there,didnt read it. i am long, hope it wasnt bullish.LOL.
regards
jkd

REUTERS -"State-run Oil India and Indian Oil Corp (IOC) will not place a formal joint bid to acquire Syria-focused British oil explorer Gulfsands Petroleum by 11th May deadline, a source close to the development told reporters on Tuesday.
The two companies may revisit their plan to acquire the firm after six months, the source said.
Last Thursday, Britain's takeover watchdog had issued the two Indian firms with a deadline of 11th May to make a formal bid for Gulfsands or walk away for a minimum of six months."

Bidders have walked out on Gulfsands Petroleum.

glad i bounced these the other day ..... it was only a smallish profit but a damn sight better than it would have been had i held

This is a FREE EVENT
=================

The directors of Xtract Energy (AIM: XTR), Nighthawk Energy (AIM: HAWK), Lydian International (TSX: LYD) and Gulfsands Petroleum (AIM: GPX) will be presenting:

Wednesday the 2nd June 2010,
Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair, W1J 5EB

The presentations will start at 6:00pm and finish at approx 8:00pm. After the presentations are complete the directors will also be available to take questions during a free canapand wine reception.

This event is suitable for the following:
Sophisticated & private investors, private client brokers, fund managers, financial institutions, hedge funds, buy & sell side analysts and journalists.

FREE registration : http://www.proactiveinvestors.co.uk/register/event_details/80

This is a superb lineup of exciting AIM listed oil companies, offering attendees the opportunity to meet the CEOs and chat informally after the official presentations over drinks and canap.

The location is a short walk from either Green Park or Bond Street tube stations.

Early applications are strongly advised, as this event is expected to reach capacity prior to the event due to high interest in the presenting companies.

GPX in Manchester 3/6/10!

Syria is about to blow.

Get out of GPX now at 293p... Syrian crisis will be detrimental to its share price.

this is where contrary theory is often correct - i.e. buy on the bad news (so long as it isn't a profit warning)

Are you buying GPX, cynic?

no, but might consider if i wasn't already sufficiently exposed in the markets

This is certainly looking very grim.
US going to take action.

US going to take action ..... from reuters or similar, or just your guess? ...... personally, i would be very surprised indeed

Syria violence: US warns citizens to leave

that's far from the same as saying US will take action!
i also suspect US follows the same protocol as FCO - e.g. if there is a state of emergency declared (as in bahrain) then it is standard practice to warn citizens to leave, even if the reality does not really warrant it - as in bahrain

"that's far from the same as saying US will take action!"

That's exactly my point !

I am removing ALL my research from here due to the constant personal abuse, defamation and distortions of it posted by:

ptholden

hlyeo98

halifax

blackdown

kimoldfield

cynic


This bunch of abusive retards is the reason MoneyAM will NEVER have a forum worth reading.

I have reported them to support by they do nothing, either because they want to force me to PAY them for the Traders Room or because they are too lazy to do anything. Maybe the people in support are the ones perpetrating the abuse, so as to force people to pay for the premium boards. Either way the service is sh1te and a disgrace to the finance industry. No wonder there is nobody left here apart from morons.

I will continue posting my good research on boards that are run in accordance with FSA and LSE listing rules and the interests of the market, not here where ar5eh0les rule the boards and all decent research is buried under their piles of sh1te.

Syria could be the next Libya.

Chart support at 250p.

Syria Operations Update

Abu Ghazal-1 Exploration Well

London, 2nd June, 2011: Gulfsands Petroleum plc ("Gulfsands", the "Group" or the "Company" - AIM: GPX), the oil and gas production, exploration and development company with activities in Syria, Iraq, Tunisia, Italy and the U.S.A., provides this update on operations in Syria.

Drilling and testing operations have recently been completed on the Abu Ghazal-1 ("AGZ-1") exploration well. Potentially significant hydrocarbon columns were encountered within the Triassic aged Butmah and Kurrachine formations. However, a series of drill-stem tests ("DST") undertaken on the well resulted in the recovery of sub-commercial quantities of heavy/viscous oil. The well has now been suspended pending detailed analyses of well results.

The AGZ-1 well commenced drilling operations on 23 January 2011, utilising the Crosco E-401 drilling rig and was drilled to a depth of 3850 metres Measured Depth ("m MD"). The well was planned to evaluate potential reservoirs within the Cretaceous aged Massive and Triassic aged Butmah and Kurrachine Dolomite formations within a large, fault bound structure identified and mapped on 3D seismic data.

The well encountered the Massive Formation at a depth of approximately 2572m MD, but in spite of elevated gas readings observed whilst drilling, the section drilled at this location was found to contain relatively poor reservoir properties and drill cuttings indicated only traces of oxidized oil and asphalt.

The Triassic Butmah Formation was encountered at 3287m MD with elevated gas readings and traces of oil in the mud system. Interpretation of wireline logs indicated a significant oil column; however no formation fluids were recovered when testing. The lack of any fluid flow from the formation is currently interpreted to be due to low permeability within the reservoir.

The well encountered the top of the Triassic Kurrachine formations at 3456m MD. Substantially elevated gas readings were encountered whilst drilling through this section and live oil was recovered in coring operations. Interpretation of wireline logs indicated a significant oil column, with subsequent testing resulting in sub-commercial volumes of very heavy to heavy oil (approximately 12 degree API) being recovered along with highly saline formation water.

The Crosco E-401 rig will now be moved to the Khurbet East No. 19 ("KHE-19") well location on the northwest flank of the Khurbet East field. This well is planned as a further step-out from the successful KHE-18 delineation in the northwest, which encountered high quality karst reservoir in the Massive formation. The KHE-19 well will evaluate an area estimated to contain oil-in-place of approximately 30 MMstb and if the well is successful there will exist an opportunity for possible (3P) Khurbet East reserves to be matured to probable and proven reserves categories at year end 2011.

Gulfsands drilling operations in Syria Block 26, using the Crosco E-401 and E-501 drilling rigs, are continuing as planned and have continued without interruption during recent months.



Ric Malcolm, Gulfsands CEO, said "Whilst we are pleased to have encountered significant oil columns within the Abu Ghazal well, the production test results have been disappointing. We will now analyse all of the data prior to determining the extent of any further operations at this location. The rig will now move on to drilling the KHE-19 well as we continue with our very busy 2011 program of drilling exploration prospects and development wells."

Bad update hit GKP to 245p.

not the best of days to issue a disappointing rns!

FT sector watcher:
"GPX continues its dismal exploration run with another unsuccessful well in Syria. The Abu Ghazal well was a 50 million barrel prospect which could have been worth in excess of 100p/share, however the well encountered only oil shows and a DST recovered sub-commercial quantities of heavy oil. Small encouragement that there were shows I suppose, and the well has been suspended rather than P&A'd, but I'd be surprised if anything positive ultimately comes out of the well.
The group will now shift the rig to the producing Khurbet East oilfield where it will drill an appraisal well on the northwest flank of the field, which could prove up an additional 30m barrels oil in place, or say 10m barrels recoverable. This could be worth c20p/share on top of our core NAV of 393p/share. Political risk aside, GPX looks a good bet at these depressed levels. "

As Syria weathered more bloodshed this week, the Bashar al-Assad regime faced more political pressure and derision from two important corners -- members of the country's fledgling opposition movement and America's top diplomat.

Hundreds of Syrian activists gathering in the Turkish city of Antalya called on al-Assad to step down and hand over power to his vice president with the goal of organizing general elections. They also declared its support for the "Revolution in Syria" and elected a 31-member council aimed at assisting the protest movement.

Secretary of State Hillary Clinton, speaking in Washington, repeated President Barack Obama's recent tough words to al-Assad in his policy -- embrace democracy or get out.

"The legitimacy that is necessary for anyone to expect change to occur under this current government is -- if not gone -- nearly run out," Clinton said.

"The international community has to continue to make its strongest possible case and call for specific action, not just an amnesty, but the release of political prisoners, an end to unjust detentions, let human rights monitors into the country."

Since mid-March, Syria's government has undertaken a fierce crackdown against demonstrations that have demanded reforms of al-Assad.

Human Rights Watch accused Syria on Wednesday of carrying out a "systematic" series of abuses against protesters in Daraa province. In a report detailing abuses toward protesters, it called on the United Nations to investigate.

Since Sunday, at least 43 people have been killed, when government forces entered Homs province to end protests against government rule, said Rami Abdel Rahman, president of the Syrian Observatory for Human Rights.

A witness in Rastan, who identified himself as a protest organizer named Abu Abdullah, said there was heavy artillery fire and that shelling had destroyed about 20 homes and several mosques.

Abdullah said the fighting has been nonstop since troops cut off the town on Sunday. He said he carried the body of a 16-year-old boy killed in the attack on the city.

"He was just walking in the street when he was shot," he said.

CNN has not been granted access into Syria and is unable to independently verify the accounts.

More unrest in Syria ... sell GPX


Syrian officials blamed a technical problem for an explosion that damaged a natural gas pipeline near Deir al-Zour, a restive region in eastern Syria near the Iraqi border.

The explosion, which occurred at 12:30 a.m. local time on Tuesday, was caused by a hole in the pipeline, an official from the Syrian Oil Company was quoted as saying by Syria News, a Web site there.

The official said that a fire resulted from the explosion in Al-Tayana village, 50 miles from Deir el-Zour, the countrys fifth-largest city and the scene of large protests against the government of President Bashar al-Assad.

The official, who was not identified, said that the fire was extinguished three hours later and that a technical team was repairing the damage.

Residents said the town was rife with rumors suggesting that the explosion was caused by the family of a protester, who is in detention. Syria News, citing accounts, said the protesters parents had asked authorities to release him or they would blow up pipelines.

If carried out by saboteurs, the attack would mark another turn in an uprising whose protests have largely remained peaceful.

Deir el-Zour witnessed some of the larger protests since the uprising against the rule of Mr. Assad started in mid-March, but the military had largely stayed out of it and Albokamal, another town in northeastern Syria, close to Iraq. Activists say the military has remained outside of Deir al-Zour, fearing its presence could ignite the anger of the regions tribes. Those extended clans carry influence in the region and enjoy close ties with tribes in Anbar, the Iraqi province across the border that witnessed some of the most pronounced violence in the insurgency in Iraq.

More bloodshed in Syria...


Mr Hague's comments came after bodies littered the streets of Hama on Sunday as the Syrian army launched major tank offensives across the country in a fresh bid to crush the uprising against President Assad.

Speaking on Radio 4's Today programme the Foreign Secretary said of military intervention: "It's not a remote possiblity. Even if we were in favour [of UN backed military action], which were are not because there's no call from the Arab League for intervention as in the case of Libya, there is no prospect of a legal, morally sanctioned military intervention.

Mr Hague added that it was a "frustrating situation" and that the "levers" at the international community's disposal were severely limited but said countries had to concentrate on other ways of influencing the Assad regime.

"We want to see stronger international pressure all round. Of course, to be effective that just can't be pressure from Western nations, that includes from Arab nations ... and it includes from Turkey who has been very active in trying to persuade President Assad to reform instead of embarking on these appalling actions," he said.

"I would also like to see a United Nations Security Council Resolution to condemn this violence, to call for the release of political prisoners, to call for legitimate greivances to be responded to," he added.

Until Assad is out of power, GPX is totally a dangerous share to hold... now 188p.

GPX remains a sell ... now 143p ... as Assad will become the next Gaddafi or even assassinated.

He's an ass by name.

EU oil embargo...

Europe is to impose an oil embargo on Syria, in effect freezing almost all business between Damascus and the EU, Syria's main trading partner.

Sanctions would come into force on Friday, diplomats and officials said. The decision will halt more than 3bn (2.6bn) a year in Syrian crude oil and petroleum products being exported to Europe.

"This is trying to hit the oil that's a critical financial lifeline to the regime," said an EU official.

While the move will barely have any impact on EU energy needs, it is likely to hurt elite business and government circles in Damascus close to the regime of the president, Bashar al-Assad, since Syria's trade relationship with Europe is almost entirely oil-based.

The EU imports only 1.5% of its crude oil from Syria. But 92% of Syrian exports to Europe are energy products. Syria exported crude oil and petroleum products worth 3.1bn to the EU last year, according to European commission figures. Royal Dutch Shell and the French company Total are the two biggest European players in the Syrian energy market.

The embargo will not stop firms doing business with Damascus, EU officials said, but will prevent them from marketing Syrian oil in Europe.

Separately, EU governments are to decide next week whether to impose an investment ban on European companies operating in Syria, particularly in the energy sector.

In Brussels, officials from the 27 member states discussed proposals banning all European investment in Syria's energy industry and freezing the supply of equipment, for example, for oil drilling.

The US has already imposed an oil embargo and investment ban on Syria as part of the mounting pressure on Assad to ease his brutal crackdown on anti-regime protests. The US move was seen as largely symbolic, while the EU embargo will have a much bigger impact.

an overdone pasting surely a certainty for this one today

International sanctions on Syria... it's looking like an island now.

funnily enough you could have easily sold this morning at only -2.5p on friday's close

another very bad day in prospect for this one - see news re declaration of force majeure

FoxDavies views from the trading floor – Gulfsands Petroleum

Looking very cheap .

Nice rise.

What's making this motor up ?

Bid speculation according to the DM.

i was thinking the now fairly imminent demise of assad

Unlucky this company.....nothing wrong with it...just caught up in this terrible ordeal of the Syrian people...

my very good lenanese friend was not too polite about any syrians!

Thanks Mitzy, wonder who could be making a possibel bid , very interesting!

Could be the same people who bid 300p last time.

lots of movement here, but minimal volume ..... i also see a lot of MM stock on offer at about 130

130p soon.?

Touiched 135p for the first time since March.

.

keep watching GPX, for sp has been consistently ticking north of late with heavier than usual volume

Agreed. Looks like they're finally pricing in the end of atrocities in Syria. There was talk a while back of a Russian buyer who'd been stakebuilding ahead of a possible bid, but don't know if he's behind the recent rise. 80p was good support which is where I bought in. will add more on the way up.

here's an old stinker for you that is showing signs of life

i wonder who this lot are who now own about 27.5% ...... Waterford Finance & Investment Limited

.

if any of you hold shares in these and voted in the EGM a few days ago, you will need to SEND IN YOUR VOTES AGAIN FOR THE MEETING IN FEBRUARY - YOUR VOTES WILL NOT BE "CARRIED FORWARD".

Noticed that votes must be in TODAY on TDW website!!!!
So if you have not re-voted get them in ASAP today please.

StockMarketWire.com
Gulfsands Petroleum posts pre-tax losses of $12.1m for the year to the end of December - down from $25.4m last time.

Gulfsands said it made significant progress to further reduce its operating cost base with general administrative expenses falling to $5.5m in the year (2013: $9.4m). It said $1.7m of this represented a reduction in office expenses after partner recoveries.

In addition to this: a reduction in depreciation; and the progression in the group's business model toward operatorship of its assets as well as increased operational activity, particularly in Morocco, resulting in increased amounts capitalised, further reduced general administrative expenses by $2.3m in the year.

At year end the group had total cash resources of $19.4m of which $11.5m was restricted; held as security for anticipated work programmes.

The group says that it currently has unaudited cash and cash equivalents of $3.0m.

Executive chairman Alastair Beardsall said: "During 2014 the group made good progress in Morocco completing the acquisition and processing of 2D and 3D seismic on Fes and Rharb Centre respectively; we believe the new 3D seismic was instrumental in producing the drilling success that has followed on the Rharb Centre area; three gas discoveries have been made at LTU-1, DRC-1 and DOB-1.

"Discussions are under way with Office National des Hydrocarbures et des Mines (Morocco) and other local operators to start connecting these wells to local gas sales pipelines to enable the group to enter into a gas sales contract to monetise the gas."

StockMarketWire.com
Gulfsands Petroleum posts a loss of $69.2m for the year ended 31 December (2014: $12.1m), including E&E write-offs and impairments of $53.8 million.

The group had total cash and cash equivalents of $0.4 million at the year end which has now risen to $3.5 million.

Executive chairman Alastair Beardsall said: "2015 and early 2016 have continued to be a challenging time for Gulfsands. The Board has focussed on realigning the strategy of the group to be consistent with its financial capacity and risk tolerance and continues to pursue a strategy of farm-out and divestiture for the non-Syrian assets.

"The Syrian assets remain a core part of the Group's strategy and we monitor the situation closely and ensure our ongoing readiness to return to operation when the political situation allows."

Looking ahead, he said: "The group remains committed to maintaining its presence in Syria, and it considers its partnership with General Petroleum Corporation ( as a key element for the safe stewardship of Block 26 while the various sanctions prevent Gulfsands from a more active role.

"We shall continue to seek to farm-out the assets we hold in Morocco, Colombia and Tunisia ensuring we can benefit from any success but without being exposed to the full cost of exploration."

What a fall.

The writing was on the wall back in 2016!

Secured Financing Facility Extension, Strategic Update and Intention to Delist
Gulfsands Petroleum plc ("Gulfsands" or the "Company" - AIM: GPX), the oil and gas company with assets in Syria and Colombia, today announces that it has finalised a £4 million extension to its existing £4 million Secured Term Financing Facility (the "Facility") from its major shareholders, being ME Investments Ltd, Waterford Finance & Investment Limited and Blake Holdings Limited (a company controlled by Mr. Richard Griffiths) (together the "Major Shareholders" or "Lenders"). As a result of strategic discussions with the Major Shareholders related to the Facility extension, the Directors have also concluded that it would currently be in the best interests of the Company to seek Shareholder approval to cancel the admission of its Ordinary Shares from trading on AIM (the "Delisting"), a decision which is supported by all three Major Shareholders who have each provided irrevocable undertakings to vote in favour of the Delisting which amount to approximately 83% of the votes to be cast at the general meeting to be convened to approve the Delisting.

i am staggered that anyone still holds these

I don't. It's just occasionally reassuring to see why I don't!