Updates

Gulfsands - Over-reaction to dry well

March 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.

Gulfsands has announced its pre-close update for 2010, which noted that the Twaiba-1 well, which had encountered oil in several zones, subsequently flowed water, making it unlikely to be a commercial discovery. Broker Oriel had estimated its worth at 15 pence a share to NAV but it didnâ€™t stop the shares falling.Meanwhile production in December was as expected with 11,300 bopd produced, 21% more than January 2010. The average for the year was 10,316 bopd of which 9,165 was in Syria and 1,151 in the US. Meanwhile net cash has increased to US$80m. Looking to this year, 6 exploration and 5 development wells will be drilled in Syria, including the KH1 appraisal well (which commenced drilling 19 January) to further assess wheth ...

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Centamin Egypt - Reassuring update

Hornby

Gulfsands (July 2011)

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

Gulfsands (February 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)

Gulfsands (April 2006)

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

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