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Double dealing for Gulfsands

Fri, 03rd Feb 2012 14:36
Gulfsands Petroleum shares were in a double dealing today, with one director buying and another selling stock in the oil and gas firm. Non-Executive Chairman Andrew West, 53, bought up £31,325-worth of shares in the firm, at 179p per share. The director now holds 140,144 shares in the firm. Chief Financial Officer Andrew Rose sold 200,000 at 165.00p each for a total of £330,000, reducing his stake to 400,000 shares. Earlier this week the firm said it is owed around $25m, half of the sum the firm claims is owed to Sinochem, the contractor and working interest partner of Block 26 in Syria.Last year Gulfsands declared force majeure on Block 26 production operations in response to the tightening of EU sanctions against Syria.According to Gulfsands, Sinochem has received no payment related to production from the block occurring after December 11th. The stock has lost over 40% on its share price over the past year. Top Director BuysBank of America Corp. (BAC) Director name: Mr Susan S. BiesAmount purchased: 50,000 @ $7.39 Value: $369,500Gulfsands Petroleum (GPX) Director name: Mr Andrew WestAmount purchased: 17,500 @ 179.00p Value: £31,325Datong (DTE) Director name: Mr Grant D AshleyAmount purchased: 22,800 @ 29.95p Value: £6,829Aberdeen Latin American Income Fund Ltd C Shares (ALAC) Director name: Mr Martin AdamsAmount purchased: 10,000 @ 100.00p Value: £10,000Top Director SellsAndor Technology (AND) Director name: Mr Chris CallingAmount sold: 160,000 @ 555.00p Value: £888,000Gulfsands Petroleum (GPX) Director name: Mr Andrew RoseAmount sold: 200,000 @ 165.00p Value: £330,000Andor Technology (AND) Director name: Mr Colin WalshAmount sold: 40,000 @ 555.00p Value: £222,000

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