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.

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...