STOCK WATCH

A DECISION to delist from the London Stock Exchange slashed the value of Gulfsands Petroleum’s shares by more than half.

The Aim-listed oil and gas company said there would be ‘minimal benefit’ in remaining listed as it no longer gets significant funding from the capital markets.

Instead, it said, its funding comes mainly from a small selection of shareholders, who backed the move.

Shares plummeted 58.9pc, or 2.65p, to 1.85p.