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Gulfsands Petroleum plc, an independent oil and gas exploration and production company listed on the AIM has received an approach for its business.
Shares soared 19.4 pct on the Alternative Investment Market (AIM) by 50.25p.
Davies Capital analyst, Lionel Therond pointed to Chinese oil - Sinochem as a possible bidder.
Notification that Schroeders is a major shareholder also came out recently, after they were obliged to announce ownership of 21.56 pct of the company's issued share capital on March 9th.
The company adds that an appoach 'may or may not' lead to an offer.
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