Gulfsands in new Syria oil discovery

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Gulfsands Petroleum reported an oil discovery at one of its exploration wells in Syria yesterday, but also said that it had abandoned and plugged another well in the country after deciding it was not commercial.

The Aim-listed explorer also has operations in Tunisia, Iraq, Italy and the US. But its principal asset is in Syria, where it has recently come under fire over its links to members of President Bashar Assad's family.