Gulfsands Petroleum Share Discussion Threads

[geckotheglorious] 10/12/2024 13:25

An interesting question.....

Who is to know.

Will make it easier for the Chinese to get Gulfsands wells producing legitimately one suspects.

[buffet_take_note] 10/12/2024 11:31

What does the fall of Assad mean for gulfsands?

[geckotheglorious] 29/1/2024 21:04

In case anyone interested...


"This month marks another sobering milestone for the Syrian people and for Gulfsands.

It is now seven years since Gulfsands was informed that its Block 26 fields in North-East Syria, currently under force majeure in order to comply with UK sanctions, had been returned to significant and regular production – unlawfully.

It is now common knowledge that the perpetrators of this illicit production were, and continue to be, entities affiliated with the Autonomous Administration of North and East Syria (the “AANES”), Peoples Defence Unit (“YPG”), Syrian Democratic Forces (“SDF”) and Syrian Democratic Council (“SDC”).

We call on this unlawful production to stop immediately.

Since 2017, over 47 million barrels of oil have been unlawfully produced with a value of over US$3.3 billion(*). In the last year alone, we estimate that approximately 5.8 million barrels of oil have been unlawfully produced with a value in the region of US$480 million (at the average 2023 Brent oil price of $82.5 per barrel). The illicit production and ongoing losses continue to be monitored and measured at www.gulfsands.com.

This illicit production from Gulfsands’ Block 26 continues at a rate of approximately 20,000 barrels of oil equivalent per day (“boepd”), but this is just a small portion of the total theft in the northeast region of Syria. It is widely reported that production in North-East Syria is currently estimated to be around four times this amount, at around 80,000 barrels of oil per day (worth over US$6 million per day at today’s oil prices).

The Syrian people, however, see the benefits of only a small proportion of this value. The unlawful oil trade takes place on the black market, away from regulation and oversight, meaning prices are depressed and the potential for corruption is high. The biggest beneficiaries of this illegal production are illicit actors – not the Syrian people.

This also leads to unsafe, unregulated, and hugely environmentally damaging oil field practices which have a catastrophic effect on the health of local communities.




MGW comment
Today, Gulfsands reminds us, as it does every January, about the vast quantities of oil that are being unlawfully and unsafely produced in Northeast Syria, with minimal benefit to the Syrian People.
John Bell, Gulfsands’ Managing Director has been, a stalwart supporter, even driver behind this wonderful project for many years. He has always kept me in touch and I am happy to cover the situation at Project Hope.
They report that another US$480m of value has been lost during 2023, taking the total since 2017 to over $3.3 bn. One wonders what good this money could have done, had it been channelled appropriately.
Gulfsands also highlights the environmental devastation caused by the unsophisticated, unsafe and unregulated oil field practices being employed, and the catastrophic effect this has on the health of local communities.
Gulfsands, proposes an alternative approach, Project Hope, where international energy companies (which have all declared force majeure as result of international sanctions) are allowed to return to operations in Northeast Syria, with allocated revenues from oil sales disbursed to finance early recovery, humanitarian and economic stimulus projects across the country.

I believe that this innovative initiative is worthy of attention.

[spangle93] 25/1/2023 22:48

From LinkedIn

On Monday, January 16th, 2023, GULFSANDS celebrated the opening of its Abu Dhabi office, located in the international financial center, Abu Dhabi Global Market (“ADGM”) – with an event held at the Rosewood Hotel, Abu Dhabi.

The new subsidiary, Gulfsands Middle East Limited (“GMEL”), will be the Group’s Middle Eastern hub. Through the office, Gulfsands plans to step up business development activities in the MENA region and we are very much looking forward to building relationships across government as well as the energy and business sectors in the UAE over the coming months. We will also promote our initiatives to return to operations in Syria - with international support and in a way that benefits all Syrians.

It was a pleasure to host our distinguished guests, including notable personalities from the energy, banking, investment, and media sectors. Mark Cutis, GMEL Deputy Chairman welcomed the guests and briefly outlined the Company’s humanitarian initiative in Syria. Gulfsands Group CEO, John Bell discussed the Company's broader strategy and its objectives for establishing a business hub in the UAE. We were honoured to have The Rt. Hon Charles Hendry, former Minister of State for Energy of the United Kingdom as our guest speaker, and appreciated his insights into recent geopolitical developments including their impact on climate diplomacy.

The opening of this new business hub is just one element of Gulfsands’ commitment to the UAE and the region. Gulfsands is also eager to help to create a better future for Syria and its people and will proactively work with all relevant stakeholders towards finding a political solution to the crisis there. The oil and gas industry can - and should - take a leading role in early recovery efforts and Gulfsands looks forward to contributing to this process.

[spangle93] 24/1/2023 08:29

I am delighted to have represented GULFSANDS at the Atlantic Council’s Global Energy Forum (GEF) held in Abu Dhabi, UAE this weekend. Together with Mark Cutis, Deputy Chairman of Gulfsands Middle East, I attended many excellent discussions regarding the big issues of the day in navigating a successful transition to a low-carbon future, including energy security, energy transition, de-carbonization and sustainability as well as the more short-term issues of protecting against supply disruptions and price volatilities.

...

In the margins of the conference, we had many productive discussions regarding how oil and gas can be a catalyst for good, such as what we are trying to do with Gulfsands’ Humanitarian and Economic Stimulus initiative in Syria (“Project Hope”), and also clamping down on the illegal trade in stolen oil that is understood to represent some 7% of global production and could help offset the need for more production.

[spangle93] 13/1/2023 18:24

From the CEO (LinkedIn)

This weekend marked six years since Gulfsands was informed that its Block 26 fields in North-East Syria, under force majeure in order to comply with UK sanctions, had been returned to significant and regular production - illegally. We now know that the perpetrators of this illicit production were, and continue to be, entities affiliated with the self-proclaimed Autonomous Administration of North and East Syria (the “AANES”), Peoples Defence Unit (“YPG”), Syrian Democratic Forces (“SDF”) and Syrian Democratic Council (“SDC”).
 
Since then, over 41 million barrels of oil have been stolen with a value of almost US$2.9 billion (at $70 per barrel). These ongoing losses continue to be monitored and measured at www.gulfsands.com
 
 
It is immensely frustrating and disappointing that several influential countries appear to turn a blind eye to this illicit production which contravenes international law, sovereignty, international sanctions and the principles of UNSCR 2254, and denies the Syrian people from benefiting from their country’s national resource endowment to build self-sustainability and resilience for the future.
 
Gulfsands’ Project Hope initiative seeks to address this important issue and would pave the way for international energy companies (which have all declared force majeure as result of international sanctions) to return to operations in North-East Syria, with allocated revenues from oil sales deposited in an internationally administered fund and disbursed to finance early recovery, humanitarian and economic stimulus projects across the country.
 
Gulfsands continues to work with partners in the international community to raise the profile of the issue and generate support for the initiative.
 
If you are interested to hear more follow Gulfsands at GULFSANDS and the Company’s website at
 

[spangle93] 07/7/2022 22:17

From the CEO (LinkedIn)




I interviewed with MEES last week about a Syrian initiative that Gulfsands has been considering for some time. After 12 years of civil war, it is time for new ideas.
Therefore, in recent months, we have accelerated our efforts to garner support for the initiative.

Gulfsands is pioneering a concept whereby
international oil companies would return to operations in northeast Syria, with
allocated revenues from oil sales deposited in an internationally administered
fund and disbursed to finance humanitarian, economic and security projects
across the country - for the benefit of all Syrian people.

Over 90% of Syrians are below the poverty line; the magnitude of the crisis and potential for further deterioration are, sadly, too evident.

The energy sector is the only sector that has the ability to generate billions of dollars that could be used towards early recovery and economic stimulus efforts, if channelled legally, transparently,and sustainably.

Since 2017, illegal production and sales - undertaken
by the SDF - from Gulfsands’ fields alone had a potential value of
approximately USD2.5bn. The majority of this has benefited illicit actors
through unsafe, unregulated, and environmentally damaging practices, in breach
of international sanctions and risking the future value of Syria’s oil and gas
resources. All Syrian people should benefit from their country’s national
resource endowment and these funds could be directed towards enabling Syrians
to build resilience for the future.

We are aware that such a proposal comes with numerous
challenges, but believe that if nothing is ventured, nothing is gained. We are
encouraged by our early-stage discussions with the UK and US governments and
other IOCs. The issues at hand are complex and sensitive; developing the
proposal will require time, collaboration, careful consideration, and an open
mind - with a focus on the future, not the past.

This will not be easy. But we encourage all stakeholders, including the United Nations and regional neighbours, to see not just the value but also the necessity in working with us towards finding a solution in Syria.

It’s time for a new approach - please get in touch to hear more or to share your thoughts.

To keep up to date with Gulfsands' news follow us here GULFSANDS PETROLEUM PLC

[fortyguns] 27/4/2021 17:02

and if my memory serves me correctly the squeeze out cannot be done at a lower price so no disadvantage on that front if you wait (assuming they go ahead and do one which seems likely if the end up with 90%+.

[fortyguns] 27/4/2021 16:58

Its mandatory on their part - because they now have in excess of 50% - not on yours to accept! They need 90% to squeeze out everybody....there is about 16% of stock remaining so entirely possible they can't do a squeeze out is most people stand fast.....not really much to lose if you are still in , better to reject such a derisory offer.

[spangle93] 22/4/2021 07:12

Doesn't seem much chance that it will not go through does it.

I'd always held, hoping for a relist in better times, but I guess the best thing now is to accept the inevitable, rather than reject and find the compulsory deal is worse.

And to think, if memory serves correct, that an offer for somewhere near 350p was rejected once

[krr13] 20/4/2021 06:44

Waterford was always going to pick the company up. The offer price is derisory. But Waterford have pumped millions into GPX and it is going to take them a very long time to get a return.It's pretty sad as the asset in block 26 is great. I do wonder if they were able to continue on the previous strategy in Morocco the company would have been able to generate revenues and keep afloat without needing additional funding.We will never know.

[geckotheglorious] 19/4/2021 08:27

RabidDog
Post 14761
"It’s a mandatory offer-no choice"

Incorrect. There are two options.
1) Reject the offer.
2) Accept the offer.

So there is "A choice" in the first instance

Always knew Waterfrauds would look to steal the asset. They've a history of such if prior posters years ago were to be believed.

[rabiddog] 18/4/2021 09:26

It’s a mandatory offer-no choice

[deutsch4] 17/4/2021 18:40

Is there a choice? - If so what?

[geckotheglorious] 17/4/2021 16:36

They're not called Waterfrauds for nothing.

[royaloak] 12/9/2019 11:14

Not looked at GPX for years, but searched on Asset Match site whilst looking at HNN which was de-listed several years ago and found GPX again. HNN has done spectacularly well since de-listing, so all is not lost!

[benweaver1] 17/6/2019 16:04

Good afternoon all,

Just as a reminder that Gulfsands Petroleum shares can be traded on Asset Match.

The company holds quarterly auctions in the shares with the next scheduled to close on the 3rd July @ 4:00pm (BST).

The current indicative price is 5p.

70+ brokers are signed up and able to deal on Asset Match, so if you hold shares via a broker the chances are that they can submit an order for you. For shareholders who hold certificates, we also provide a certificated selling service.

If you need any further info or have any questions then please do not hesitate to contact us.

Kind regards,

Ben Weaver
020 7248 2788
[e-mail]
www.assetmatch.com

[nicky21] 05/6/2018 16:56

Guys you really need to check out COPL currently to buy 0.55p.

A potential to be a multi baggar.It tried its luck in Liberia but failed to find any Oil.It is now concentrating in Nigeria.There it has partnered with Shoreline a Nigerian company.
Copl and Shoreline have ventured together and created a company called Shorecan which is owned 50/50 by both.They have bidded for a Licence and are awaiting Approval and Transfer of Asset.
The asset is OPL 226.Five wells have been drilled on OPL 226 by previous operators.A well drilled in 2001 encountered Oil.
When all approvals are sorted then it will drill an appraisal well on the discovery in 2001.Financing for the drilling is meant to be secured for rumours are true.

What is holding the share price back presently is NNPC approval.

$60m was spent on this asset by the previous operator.the potential for Copl is huge.
I know most of you gonna say its another Nigerian scam.IMO i think it is not.Presently we have 2 Nigerian companies listed on the LSE they are Egland Oil and Gas (market cap £250m) and Seplat Petroleum (market cap £850m)

Copl management wants it to be a mid tier oil and gas company ie £250m-£500m

All to play for.Current market cap for Copl is just under £10m.I think its one of the best plays on the LSE.

[benweaver1] 01/5/2018 15:32

Good afternoon to everyone on this discussion board.

As you will probably be aware by now, the shares of GPX were officially delisted from AIM recently. However the company has put in place a share trading facility via Asset Match to allow shareholders and would be investors to continue to buy and the sell shares.

In the first instance, I would suggest registering on www.assetmatch.com which is free of charge and will only take a moment or two to complete. Here you will have access to a dedicated GPX page offering a raft of information.

If I can be of any assistance then please do not hesitate to contact us.

Kind regards,

Ben Weaver

020 7248 2788
[e-mail]

[fangorn2] 16/4/2018 13:37

Percent gut wit

You know GPX is delisting right? So liquidity, what there is, will evaporate.

[percent gut wit] 13/4/2018 23:22

I bought some today. Cant help but think we're near the end game in Syria.
Could be wrong of course, but its binary now.

[bones698] 10/4/2018 13:01

And the fat lady sings finally good riddance

[bones698] 04/4/2018 03:39

Rip once and for all gpx lol the Adobe flash it's delisted the better

[bones698] 29/3/2018 12:36

Don't get suckered in MMS trying to clear shared off their books to anyine stupid enough to buy these . They are worth zero now and will trap idiots stupid enough to buy