DOUGIE YOUNGSON SEYMOUR PIERCE
We continue to highlight the company’s progressive management and robust asset base, and feel the company’s share price represents clear value to investors at its current level. In the event of a political resolution in Syria, we expect Gulfsands to return to previous trading levels.
SIMON HAWKINS SINGER
In our mid and small cap focus, Gulfsands Petroleum has post tax profits up 23 per cent and year end net cash of $124m. However, the company remains in Syrian hibernation on the whole.
AL STANTON RBC CAPITAL
The group is also looking to build a presence in other countries and exit is position in the US (where a final sale is expected this half). Near term the company remains focused on maintaining a position in Syria and consolidating the position in Tunisia . We retain our hold recommendation.