LONDON, United Kingdom August 30 Daily Mail reported that the London Stock Exchange listed oil and gas exploration company Gulfsands Petroleum is talking to Chinese state-owned SINOCHEM Group in talks to buy.
Daily Mail quoted a source close to the negotiations on the news provider as saying that the British Gulfsands Petroleum will be in a few weeks to make the tender decision. China SINOCHEM Group plans to invest 400 million pounds (651.4 million U.S. dollars) to acquire Gulfsands Petroleum Gulfsands Petroleum shares in this offer than the August 28 closing price of 230 pence per share higher than 42%.
As Khuebet East oil fields in Syria, the success of exploration activities, Gulfsands Petroleum's shares from the beginning of the year when the 130 pence per share climbing. August Earlier, SINOCHEM Group agreed to buy 532 million pounds of British Emerald Energy, which is the United Kingdom Gulfsands Petroleum in Syria, a joint venture partner.
Sep. 1, 2009
