Updates

Gulfsands

February 2011

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Plenty of news from Gulfsands, including the long awaited disposal of three non-core Gulf of Mexico properties for US$4.2m, which also releases it from future abandonment liabilities, allowing the return of a further US$5.6m cash held in escrow. Separately, Gulfsands has announced mixed results from two exploration wells with Zahraa 1 proving a duster (net cost: US$1.3m), while Twaiba 1 (net cost: US$1m), located 7 km from the main Khurbet East field, has struck oil and preliminary results are better than its pre-drill estimates for reserves of 9m barrels. Gufsands is now moving on to drill the Sidi Daher exploration prospect in Tunisia.Gulfsands' investment case still centres on the growth prospects for production and rese ...

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Gulfsands (July 2011)

Gulfsands - 17% growth in 2P reserves (May 2011)

Gulfsands - Over-reaction to dry well (March 2011)

Gulfsands - Syrian oil discovery significantly larger than first thought (January 2011)

Gulfsands - Syrian oil producer on prospective PE for 2012 of just 4.1 (August 2010)

Gulfsands - Bidders likely to return with knockout offer above Â£4 a share (June 2010)

Gulfsands (March 2007)

Gulfsands (November 2006)

Gulfsands (July 2006)

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Gulfsands - Syrian assets could yield huge oil & gas discoveries this year (March 2006)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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