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Secondary Recommendation

Gulfsands - Bidders likely to return with knockout offer above £4 a share

June 2010

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.

  • Epic Code:
  • GPX
  • Price:
  • 290p
AIM-listed oil exploration & production company Gulfsands, which has assets in Syria and the Gulf of Mexico, is fast turning out to be a major success story. As recently as three years ago the company was just another small explorer going nowhere but two commercial discoveries in Syria have changed all that and its share of production is now on track to soar from 5,000 barrels per day (bopd) at the start of 2009 to 20,000 bopd by the end of next year. Not surprisingly, its share price has been very strong this year, partly because of a joint bid approach from state-run energy firms, Indian Oil Corporation and Oil India. However, their offer of 315p was rejected as derisory and given Gulfsands' tremendous growth profile, analysts beli ...

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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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