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Gulfsands Petroleum provide corporate update


Published Jan 29, 2015
Gulfsands Petroleum

Gulfsands Petroleum provides the following update on the Group's financial position, drilling activities in Morocco and the Group's activities generally.

Financial Position

•US$20 million Arawak Energy Loan Facility drawn to US$10 million •Cash balances for the Group at 23rd January, 2015 were US$23.5million of which US$12 million was free cash (inclusive of US$10 million drawn Arawak Energy Loan Facility) •Estimated current liabilities less receivables of approximately US$7.5 million •Estimated minimum capital expenditure commitments for 2015 of approximately US$2.5 million

Tags: Gulfsands Petroleum plc




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