Some news from a couple of days ago. At least our partner (and potential new operator) of SD will get their cashflow restarted. IMO they will be desperate to diversify their income so SD may just be a strong focus...
Gulfsands reaches deal with Syria on oil payments November 17, 2011 04:37 PM
LONDON: Gulfsands Petroleum has reached an agreement with Syria's government for the resumption of oil payments and intends to continue operating there unless new UK or European Union (EU) sanctions make it illegal to do so, its president said on Thursday.
"They advised us they will make a partial payment for our operating costs. They said they will pay us the rest if they can resume exports," Gulfsands' President Mahdi Sajjad told Reuters.
"We have to stay - we have a contract and staff. Until the governments tell us to get out we are not going to get out," he added, referring to the EU and the UK government.
The firm produces over 90 percent of its total output in Syria.
Gulfsands said in October it had not been paid for its August output.
Read more: http://www.dailystar.com.lb/Business/Middle-East/2011/Nov-17/154400-gulfsands-reaches-deal-with-syria-on-oil-payments.ashx#ixzz1eBmBDPt2 (The Daily Star :: Lebanon News :: http://www.dailystar.com.lb)
VIL Price at posting:
0.8¢ Sentiment: Hold Disclosure: Held
