Shares in Gulfsands Petroleum (LSE: GPX) closed the day up 6% on the London stock exchange following notification of more stake-building by Waterford Finance & Investment Limited.
Following recent incremental increases, Waterford’s latest purchase of shares brings their holding to 14%. Shares in the company have risen by 50% over the past three months, and now stand at 212.25p.
Waterford is an investment vehicle controlled by Russian investor Michael Kroupeev.
Another Russian concern, Soyuzneftegas Capital Limited, reports a 3.39% holding. The Telegraph reports that Yuri Shafranik, the former Russian energy minister, is chairman of Soyuzneftegas and also on the board of Waterford.