Gulfsands Petroleum Share Discussion Threads

[oil_investor] 13/4/2016 18:12

Previous management were rightly sacked. You should see the offices in St James' which they took on...grotesque waste of money.

[shujja1] 12/4/2016 14:38

Now management is good .

[shujja1] 11/4/2016 09:02

Well if £4 before Syria war it could go 60p and over can't see a problem .

[richie666] 11/4/2016 08:45

Shaws - I doubt 60p but 20p is a realistic target within months IMO.

[shaws67] 11/4/2016 08:27

60p coming

[richie666] 11/4/2016 08:26

Good start to the week. Look like the free float has dried up completely moving up on just 15k shares traded...

[shujja1] 07/4/2016 21:35

Some nice buys today's someone is picking stock slowly but surely.

[oil_investor] 07/4/2016 17:04

I'm sticking with Mr. K and Mr. G

Now where's that Ferrari catalogue?

[richie666] 07/4/2016 11:47

There is clearly NO stock around. Double digits beckons as a new platform to move on towards 20p

[shujja1] 07/4/2016 10:52

Well done Debs it's target is 22.46p per share.

[debbie_does_dallas_twice] 07/4/2016 09:45

Debs has been buying this AM, this is now ready to pop upwards 10p next test.

[shujja1] 06/4/2016 22:56

The stock of Gulfsands Petroleum plc (LON:GPX) gapped up by GBX 0.06 today and has GBX 22.46 target or 185.00% above today’s GBX 7.88 share price. The 7 months technical chart setup indicates low risk for the GBX 38.88 million company. The gap was reported on Apr, 5 by Barchart.com. If the GBX 22.46 price target is reached, the company will be worth GBX 71.93 million more. Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 31.25% or GBX 1.88 on April 4, hitting GBX 7.88. About 1.65 million shares traded hands or 85.84% up from the average. Gulfsands Petroleum plc (LON:GPX) has risen 65.79% since September 1, 2015 and is uptrending. It has outperformed by 58.97% the S&P500.

Gulfsands Petroleum Plc is a United Kingdom independent gas and oil exploration and production company. The company has a market cap of 38.88 million GBP. The Company’s focus is on the gas and oil exploration projects in Morocco and Tunisia. It currently has negative earnings. The principal activity of the Company is that of provision of services to its subsidiaries which are engaged in gas and oil production, exploration and development activities.

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[oil_investor] 05/4/2016 08:52

ruchie666: thanks. btw on a read-across from the value of Gulfsands in about 2010, the current (post-dilution) shares would be a bit over 100p. Obviously there are issues with the oil price, though it's probably wrong to conclude that the 2010 etc. market value was based on e.g. $100 oil. And the Reserves/Resources went up a bit, if I recall correctly.

Khurbet East isn't the biggest oilfield in the world by a long chalk BUT it is one of the finest-quality reservoirs anywhere. The Massive is highly-vugulated limestone, riddled with holes varying in size from ping-pong balls to tennis balls to footballs. These vugs are full of black gold, Texas tea.

The current surface production facilities at KHE can provably handle c. 30,000 bopd. They were producing around 28,000 bopd in 2011 when the EU imposed the veto, and the madness kicked-off.

[oil_investor] 05/4/2016 08:41

By the way, the 50% of Syria Block 26 which Emerald purchased came from the portfolio of Soyuzneftegas. That is a Russian oil company which is run by Yuri Shafranik, who was Boris Yeltzin's Energy Minister and has recently been dubbed "Vladimir Putin's oil finder". The relationship between YS, Mr. K and AB dates back to the 90s.

Emerald were originally going to acquire a substantial slice of Krasnoyaskgazprom, which is a subsidiary of Gazprom, which is a substantial asset in Western Siberia. Due diligence was done by specialists in Moscow, but then I discovered by translating some Russian reports that Gazprom had reorganised their subsidiary, stripping out the valuable liquids and leaving the gas. I told Emerald what I'd found...they were shocked...and the deal wasn't done. So Emerald went to YS and asked him if he had anything available, which could add the "second leg" to the stool, Emerald only having Colombia at that point. YS had the Syria Block 26 asset, and Emerald went for it. Soyuzneftegas retained other interests in Syria.

The links are DEEP and in my personal opinion, Mr. K is looking to make good the money that he didn't make from Sterling Energy when Sangaw North in Kurdistan proved a dud.

btw the problem at Sangaw North was the porosity and permeability: there was a 1000 metre gas column, but there was apparently no fracture system, and therefore the flow of gas would not sustain.

[richie666] 05/4/2016 08:27

Well said Oil investor and well done on your former gains!

"What the bloggers failed to incorporate into their argument is that although the cash reserves are low, the company’s Block (26) asset has worth of multiples of the current stock price IF it begins pumping again."

[oil_investor] 05/4/2016 08:23

My family invested in Gulfsands shortly after they acquired the 50% of Block 26 and became operator (previously Devon Energy, who did no work leaving a backlog of exploration drilling to fulfil the licence commitment).

Souedieh North #1 was drilled first; a rig was available and it was a relatively low-cost hole. The target was very close to the major Souedieh oilfield, but didn't come in because the oil was very viscous and it wouldn't flow.

They then drilled Tigris #1. This was an appraisal rather than an exploration well, because the Syria Petroleum Company had drilled the S1100 well years earlier and had found gas. T#1 was drilled close to S1100 to reduce risk. This is why Ryder Scott were able to give a Reserves figure for it. When T#1 wouldn't flow there was total astonishment, with both Gulfsands and Emerald (50%) in a state of shock. Emerald walked away, but Gulfsands believed it still had potential and employed consultants to advise on it. They then had 100% of Tigris, but it never came to anything.

The third target - Khurbet East - was then chosen. This was never on the original very extensive list of B26 leads and prospects...some say that the current Chairman of Gulfsands spotted it, when looking at seismic maps in his then-role as the Chairman of Emerald. Whatever the truth, it came in, and the well was dubbed Baconsaver #1.

When Emerald was sold to the Chinese, my family sold our GPX. That was almost 7 years ago. We have recently bought back in, and at fire sale prices. We also participated in the Open Offer. We have more GPX than I would ever have thought possible.

All to play for here in my opinion with Mr. K and his friends, together with the former Chairman of Emerald, in command.

[debbie_does_dallas_twice] 05/4/2016 08:18

Richie the likes of bones over simplistic "daily mirror view' on oils sanctions is that is fails to take in the fact that oil sanctions had already been lifted in Syria in part by the EU
Also food for oil, and moreover the need for oil revenue to rebuild the country to stabilise it.
The US/UK/RUSSIA/EU knows full well if it starves the country of oil income instability would continue and no doubt Sunni fundamentalists would find that a perfect breeding ground to regroup isis.
The oil sanctions will be lifted it's just a matter of when and for what reason.,

[richie666] 05/4/2016 07:45

"With individuals such as Kroupeev, Richard Griffiths and Asfari, who have collective net worths likely in the eight figures, we prefer to lean towards their assessment of the company’s worth. The negative postings are failing to account for the market now beginning to reprice the probability of a resumption of activities in Syria in the foreseeable future."

[shujja1] 05/4/2016 07:23

Gulfsands Petroleum plc (LON:GPX) is a huge mover today! The stock increased 31.25% or GBX 1.88 on April 4, hitting GBX 7.88. About 1.65M shares traded hands or 85.84% up from the average. Gulfsands Petroleum plc (LON:GPX) has risen 65.79% since September 1, 2015 and is uptrending. It has outperformed by 58.97% the S&P500. The move comes after 8 months positive chart setup for the GBX 38.88 million company. It was reported on Apr, 5 by Barchart.com. We have GBX 22.69 PT which if reached, will make LON:GPX worth GBX 73.09 million more.

Gulfsands Petroleum Plc is a United Kingdom independent gas and oil exploration and production company. The company has a market cap of 38.88 million GBP. The Company’s focus is on the gas and oil exploration projects in Morocco and Tunisia. It currently has negative earnings. The principal activity of the Company is that of provision of services to its subsidiaries which are engaged in gas and oil production, exploration and development activities

[shujja1] 04/4/2016 22:47

Block 26 is a super oil block could be one of the largest oil blocks in Syria.

[shujja1] 04/4/2016 22:46

study by Ryder Scott put Gulfsands’ probable, possible and prospective reserves at 722 million barrels of oil equivalent (boe) if the structure is primarily a natural gas field.
The AIM-listed group, operator and owner of 50% of the Block, said the independent petroleum engineering firm put reserves at 563 million boe if the structure is primarily a petroleum accumulation.

Gulfsands started drilling a well on the Tigris structure in August. The group found that three of the six wells previously drilled within the Block encountered potentially commercial hydrocarbon accumulations.

The largest of these, the Tigris structure, is found beneath the Souedieh Field, the largest oil field in Syria with estimated reserves of some 2 billion barrels, with around 1.3 billion barrels produced so far.

Chief executive John Dorrier said, “This independent study confirms our conclusion that Block 26 contains probable pay in Palaeozoic reservoirs and significantly increases the Company’s overall reserves.

“The report further demonstrates the lower risk associated with finding large oil and gas reserves in Block 26 and increases the total Block potential significantly.”;

[shujja1] 04/4/2016 21:48

valuation
he company disclosed that the Block 26 (now 2C) reserves are approx. 82m boe (net to GPX) within the Khurbet East, Yousefieh and the Al Khairat fields and 33.5 bcf of gas in the recent results. Applying a $3 per barrel valuation to those reserves and no value to the gas to be extremely conservative, this gives a valuation of £168m (based on current FX rates) – equating to c.40p per share. With potential back payment receipts as detailed above, and further material prospectivity within Block (26) we would argue that the asset backing of GPX potentially runs to multi-fold valuations of the current stock price and that the naysayers of the stock are misplaced in extremis.

[richie666] 04/4/2016 19:17

20p beckons before end June IMO

[shaws67] 04/4/2016 19:10

My surf board is ready oiled to ride the 60p wave