With plenty of cash and Gulfsands being in trouble in Syria with non producing oil assets the most logical and quick fix would seem to be a T/O play for either ADX VIL or XST .
Consolidation only seems possible in Tunsia if one of the partners ADX, VIL ,XST agree to sell their position in Tunisia .
If SD happens to come in with good flow rates in the next few weeks from testing, the above mentioned companies may be in line for a surprise T/O
Tue 03 Apr 2012
LONDON (SHARECAST) - Oil and gas producer Gulfsands Petroleum is looking to build a presence in a new country as it waits for the mess in Syria to clear up.
"Our objectives for 2012 are to consolidate our position in Tunisia and build a viable non-Syrian leg to the business within the capacity of the group's financial resources," revealed Chief Executive Officer, Richard Malcolm.
The company ended the period with US$124.2 million in the bank.
“In the interim, we are leaving no stone unturned in our continuing efforts to find attractive opportunities to deploy our financial and technical firepower into "fast track" geographical diversification.”
Chief executive Richard Malcolm explains that Gulfsands already has the foundations to achieve this goal with significant financial resources, highly competent human and technical resources, as well as credibility in the oil industry.
He says there are numerous opportunities for Gulfsands to acquire both exploration acreage and prospective production at an attractive cost of entry.
“Several such opportunities are currently being evaluated. In all cases, the emphasis is upon cash preservation, the ability to fast-track production and the opportunity to maximise the company's operational strengths and experience,” Malcolm adds
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