Gulfsands Petroleum Company updated the market on its Moulay Bouchta petroleum agreement.

Gulfsands Petroleum plc has been awarded an extension to its Moulay Bouchta petroleum agreement in Morocco. The initial phase will now run for an extra year to June 2017.

Gulfsands Petroleum has found gas at its DOB-1 well in Morocco in the Sebou onshore permit, the Office of Hydrocarbons and Mining said in a statement on Monday.

Gulfsands Petroleum plc has provided an update with respect to its relationship with Arawak Energy International Ltd. concerning their strategic cooperation agreement for the acquisition and development of new business opportunities in the Middle East and North Africa (MENA) region, along with a $20 million convertible loan facility that was announced Nov. 19, 2014.

Gulfsands Petroleum announced that it has expanded its interests in Tunisia after agreeing to acquire additional 30-percent and 10-percent interests in the Chorbane and Kerkouane joint ventures respectively.