Gulfsands funded to 2018 with new £4m facility
16th Feb 2017 08:20
(ShareCast News) - Syria, Tunisia, Colombia and Morocco-focussed oil and gas company Gulfsands Petroleum announced on Thursday that it finalised a secured term facility of up to £4m with its major shareholders. The AIM-traded firm confirmed the lenders as Waterford Finance & Investment, Blake Holdin
Read moreGulfsands secures extension to Moulay Bouchta agreement
15th Feb 2017 16:07
(ShareCast News) - Syria, Tunisia, Colombia and Morocco-focussed oil and gas company Gulfsands Petroleum announced on Wednesday that its subsidiary, Gulfsands Petroleum Morocco, had been awarded an extension to its Moulay Bouchta Petroleum Agreement, together with a revised work programme. The AIM-t
Read moreGulfsands Petroleum agrees farm-out from Colombian block
19th Oct 2016 11:33
(ShareCast News) - Gulfsands Petroleum has agreed a farm-out agreement for one of its two Colombian projects with Canada's Samarium Tennessine. Samarium will take a 70% interest in the Putumayo-14 Exploration and Production of Hydrocarbons project (PUT-14) contract and fund all the exploration and o
Read moreDebt-free Gulfsands Petroleum maintains interest in Syria
16th Aug 2016 10:28
(ShareCast News) - Oil and gas explorer Gulfsands Petroleum said it was debt free at the half-year stage, as it maintained its interest in Syria and continued to streamline its operations in a bid to reduce its rate of 'cash-burn'. On 14 January the company was admitted to AIM and over 354m shares w
Read moreSunday newspaper round-up: Interest rates, Tata, Premier Foods, G4S, Centrica
3rd Apr 2016 16:33
(ShareCast News) - The Bank of England will hold interest rates at their current historic low for three more years, according to the market's current predictions. Judging by the overnight deposit rates that banks are charged to hold their cash at the central bank, which indicates market predictions
Read moreSunday newspaper round-up: Rolls-Royce, Whitbread, Britvic, LSE
20th Mar 2016 16:56
(ShareCast News) - Rolls-Royce has put forward detailed proposals to the government to fill some of the UK's power shortage with a fleet of small reactors built around the company's expertise in generating power for Royal Navy submarines. With the escalating costs and timing of the £18bn Hinkley Poi
Read moreGulfsands Petroleum fails to secure new Fes extension
16th Oct 2015 13:30
(ShareCast News) - Gulfsands Petroleum has not been able to secure an extension for its Fes Petroleum agreement in Morocco, which expired on 24 September. The AIM-listed oil and gas exploration company with activities in Syria, Morocco, Tunisia and Colombia, said it had submitted a request for a six
Read moreGulfsands appoints new executive chairman, removes CEO
14th Apr 2015 11:11
Oil and gas explorer Gulfsands Petroleum said it had removed its chief executive and appointed a new executive chairman. The North Africa-focused group said it had named Alastair Beardsall, the current chairman of Sterling Energy, as its executive chairman with immediate effect. Beardsall's arrival
Read moreLondon open: FTSE 100 inches up on growing optimism over Greek deal
20th Mar 2015 09:11
London's leading FTSE 100 benchmark index posted mild gains on Friday amid renewed optimism from talks between Greece's new government and EU creditors in Brussels. The Greek government is now expected to present its reforms in the next days after wrangling with EU leaders who will then decide on th
Read moreGulfsands Petroleum shares slump 16% after it warns on finances
20th Mar 2015 08:45
Shares in Gulfsands Petroleum slumped 16% to trade at 2195p after the oil and gas producer warned on finances, saying it needs $15m in new capital to fund its planned operational activities over the next 12 months. The company which operates in Syria, Morocco, Tunisia and Colombia, said the need for
Read moreGulfsands Petroleum restarts drilling on Rharb scheme in Morocco
20th Jun 2014 07:53
Gulfsands Petroleum said it had restarted drilling on its Rharb project in northern Morocco. The group, which has activities in Syria, Morocco, Tunisia, Colombia and the US, said it had begun drilling the Lalla Yetou Updip-1 gas exploration well. It said the well would evaluate predicted Miocene a
Read moreGulfsands slips on plugging of Moroccan well
10th Jan 2014 10:28
AIM developer Gulfsands Petroleum further disappointed investors as it decided to plug and abandon a well in Morocco. The Ben Fidal 2 well was found to be non-commercial despite significant gas shows that were encountered on the way down. However, analysis suggested that the channel fill section
Read moreGulfsands Petroleum fails to strike viable gas in Morocco
19th Dec 2013 11:44
Gulfsands Petroleum has failed to find viable gas reserves in a couple of wells in Morocco, sending its shares down. Gulfsands, which works in Syria, Morocco, Tunisia, Colombia and the US, said it had found gas in the first two wells of a first phase of four being drilled on its Rharb Centre Permit
Read moreGulfsands Petroleum starts drilling in Morocco
28th Oct 2013 08:40
Gulfsands Petroleum has started its drilling programme in Morocco and said it looked forward to seeing the results from the first well later next month. The AIM-listed oil and gas company has begun drilling the Al Krima 1 well within the Rharb Centre Permit in Northern Morocco with the aim of eval
Read moreGulfsands to launch Morocco drilling programme
10th Jul 2013 09:16
Gulfsands Petroleum is planning a big drilling and fact-finding programme in Morocco as part of its move away from business in Syria. The oil and gas company said it would start drilling the first well of a five-well campaign in early September 2013 in its Rharb permit area. Gulfsands will also la
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