News

December 03, 2009

Gulfsands Petroleum and Its New Partner Sinochem announce Ambitious Exploration Plans On Block 26 in Syria For 2010

London AIM listed Gulfsands Petroleum has attracted a great investor following for itself (and seen a healthy rise in it share price over the past eighteen months) for not only finding oil in Syria but also for the efficacy with which it has brought its discoveries to market.

The company’s first finds in Syria were in 2007 but output began seriously to mount just over a year ago with production from its Khurbet East (KHE) Early Production Facility (EPF) on Block 26. It indicated output could be 18,000 bopd by the end of 2009. In fact it has just reported that gross production is running at 17,000 bopd (8,500 net to Gulfsands), so this exit 2009 target should be exceeded.

Also, there has been a second discovery on Block 26 in the form of the Yousefieh....