Beardsall shifts from success with Sterling to setback with Gulfsands

摘要

Only a few months after his arrival as bossrnof Gulfsands Petroleum, Alastair Beardsallrnhas hit a big bump in the road. Morocco’srnONHYM (Office National des Hydrocarburesrnet des Mines) has rejected any extensionrnof the firm’s Fes license in the beliefrnhis London-based company hasn’t enoughrnfinancial muscle to develop the block thatrnlies in the promising gas basin of Gharb.rnThe company incurred a first half loss ofrn$31.3 million this year and couldn’t fulfilrnits obligations on Fes.