Oil business Gulfsands Petroleum has moved sharply higher on talk of possible bid interest from China.
The company had to cease its exploration and production activities in Syria in December after UN sanctions against the country. It subsequently announced it was seeking to build a business outside Syria, and said it had around $120m in cash and no debt.
Now its shares have climbed 8.75p to 134.75p on vague suggestions of possible interest from CNOOC, the China National Offshore Oil Corporation.
