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.

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 !