May 31st 2012 - Edison Investment Research today published a report on Gulfsands Petroleum (GPX.L, LSE:GPX, LON:GPX) entitled "Political Valuation Drag". In summary, the report says:
Operationally, Gulfsands performed well in 2011, with an active work programme, drilling success and reserve upgrades on Block 26 in Syria. However, political instability and cessation of Syrian production caused the share price to underperform. A resolution in Syria would create significant valuation upside; without this, we look to the use of Gulfsands’ cash to build a new non-Syrian leg to the business.
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