Oil and gas company Gulfsands Petroleum Plc (GPX.L) said on Thursday the Khurbet East Field in Syria extended significantly further south than it had previously expected.

Separately, oil and gas explorer Emerald Energy Plc (EMEN.L) said the oil-bearing reservoir at Khurbet East Number 8 well was materially thicker than expected.

Emerald Energy said tests showed that oil can be produced at commercial rates from areas other than the centre of the oil field, where the reservoir quality is exceptionally high.

Gulfsands said it had started drilling operations at the Khurbet East Number 9 well on April 9.

The well would be the first of three development wells planned to support the expansion of the early production facility, the company added.

Both Emerald Energy and Gulfsands said in separate statements that the Khurbet East Number 8 well would be suspended as a future oil producer.

Emerald Energy said it expected to complete the acquisition of the 850 square kilometre 3-D seismic survey surrounding the Khurbet East and Yousefieh fields in the second quarter of 2009.

Shares of Gulfsands were up 4 percent at 205 pence and those of Emerald Energy were up 2.7 percent at 488 pence at 0738 GMT on the London Stock Exchange.

Sources informed Syria- oil that companies rushed to publish such news, hoping of financial gains in European and foreign registered stock markets by increasing the demand for the purchase of shares of these companies, which lead to an increase in share price and growing profits of those companies, citing that these companies are exaggerating the figures announced by anticipate the final results .

Syria-oil