Immediate Release 6th April 2009
Gulfsands Petroleum plc ("the Company")
Additional Listing
The Company has today made application for the admission of 30,000
shares to be admitted to trading on AIM. The shares have been issued
pursuant to the exercise of options. Dealings are expected to
commence on 9 April 2009. The total number of shares in issue
following exercise of these options is 118,552,500 ordinary shares.
For more information please contact:
Gulfsands Petroleum (London) +44 (0)20 7434 6060
Ric Malcolm, Chief Executive Officer
Andrew Rose, Chief Financial Officer
Kenneth Judge, Director of Corporate Development +44 (0)7733 001 002
& Communications
Buchanan Communications Limited (London) +44 (0)20-7466-5000
Bobby Morse
Ben Romney
RBC Capital Markets (London) +44 (0)20-7653 4804
Sarah Wharry
ABOUT GULFSANDS:
Gulfsands is listed on AIM.
Syria
Gulfsands owns a 50% working interest and is operator of Block 26 in
North East Syria. The Khurbet East oil field was discovered
following the completion of drilling of the KHE-1 well in June 2007
and commenced commercial production within 13 months of the
discovery. This field is currently producing more than 10,000 barrels
of oil per day through the Khurbet East Early Production Facility
(EPF). Block 26 covers approximately 8,250 square kilometres and
encompasses existing fields which currently produce over 100,000
barrels of oil per day. These fields are operated mainly by the Syria
Petroleum Company. On 23 August 2007, the Company initiated the
first extension period of exploration on Block 26 for a further
period of three years.
Iraq
Gulfsands signed a Memorandum of Understanding in January 2005 with
the Ministry of Oil in Iraq for the Maysan Gas Project in Southern
Iraq and following completion of a feasibility study on the project
is negotiating details of definitive contract for this regionally
important development. The project will gather, process and transmit
natural gas that is currently a waste by-product of oil production
and as a result of the present practice of gas flaring, contributes
to significant environmental damage in the region.
Gulf of Mexico, USA
The Company owns interests in 48 offshore blocks comprising
approximately 168,000 gross acres which includes numerous producing
oil and gas fields offshore Texas and Louisiana with proved and
probable recoverable reserves net to Gulfsands at 31 December 2007 of
41.5 BCFGE (6.9 MMBOE), consisting of 27.3 BCFG and 2.36 MMBO.
Onshore USA
Gulfsands owns interests in two oil and gas fields onshore Texas, USA
(98.5% working interest in Emily Hawes Field and 37.5% working
interest in Barb Mag Field) with proved and probable recoverable
reserves net to Gulfsands at 31 December 2007 of 3.1 BCFGE (0.5
MMBOE), consisting of 2.8 BCFG and 57,000 barrels of oil.
Certain statements included herein constitute "forward-looking
statements" within the meaning of applicable securities legislation.
These forward-looking statements are based on certain assumptions
made by Gulfsands and as such are not a guarantee of future
performance. Actual results could differ materially from those
expressed or implied in such forward-looking statements due to
factors such as general economic and market conditions, increased
costs of production or a decline in oil and gas prices. Gulfsands is
under no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise, except as required by applicable laws.
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This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
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