Gulfsands Petroleum plc, Annual Report and Accounts 2024
Source ID
SRC-397
Citation
Gulfsands Petroleum plc, Annual Report and Accounts 2024
URL or path
research/Gulfsands Annual Report and Accounts 2024.pdf; research/Gulfsands Annual Report and Accounts 2024.txt
Type
Audited accounts of a non-listed United Kingdom public limited company
Hierarchy tier
2
Published
2025-06
Accessed
2026-08-24
Snapshot
Retrieved 24 August 2026 from gulfsands.com/wp-content/uploads/2025/06/Gulfsands_Annual-Report_2024.pdf, HTTP 200, 4,348,914 bytes, 80 pages
Claims
CH9 the ownership section, the unit instability
Status
READ_IN_PART
Version history
The register keeps changing after the book is fixed in print. Each entry below was added to this row in the order shown.
RETRIEVED BECAUSE A REVIEWER NAMED THE ONE GAP IN THE CHAPTER'S SHARPEST CLAIM AND THE DOCUMENT THAT WOULD CLOSE IT. The v5 diff review found the chapter's arithmetic sound but resting on an assumption that the prior-year comparative was on the same basis as the current year's, which the 2025 report does not state. IT IS SETTLED HERE, AND TWICE OVER, AND IN FAVOUR OF THE FINDING. FIRST, THE SAME NUMBER CARRIES TWO DIFFERENT UNITS IN SUCCESSIVE AUDITED REPORTS. This report, verbatim: 'production from the Group's fields is understood to have exceeded 77.3 million boe by year end 2024 (End of 2023: 72.2 million barrels), of which around 58.65 million barrels (2023: 53.5 million barrels), have been produced since Force Majeure was declared, and without the involvement of Gulfsands.' THE 2025 REPORT GIVES THAT SAME 77.3 MILLION AS 'barrels'. One figure, labelled barrels of oil equivalent in one year and barrels in the next. SECOND, THE 2024 INCREMENTS REPRODUCE THE PATTERN INDEPENDENTLY. 77.3 less 72.2 is 5.1; 58.65 less 53.5 is 5.15; and this report states 2024 output as 'around 5.1 million barrels of oil equivalent made up of 4.6 million barrels of oil and 3.1 Bcf of gas'. Both series move by the equivalent total and not by the oil-only figure, in 2024 as in 2025. THE CHAPTER'S CLAIM IS THEREFORE NO LONGER AN INFERENCE FROM ONE YEAR. ALSO HERE, AND CONSISTENT WITH THE 2025 REPORT: the Al Khairat application 'has been prepared and will be submitted as soon as circumstances allow', which the 2025 report updates to submitted after the year end. NOT READ: the financial statements, the going-concern note, the directors' report, the remuneration report and everything outside the Syria pages and the cumulative-production sentence. NO SENTENCE ABOUT THE COMPANY'S FINANCES MAY BE WRITTEN FROM THIS ROW.