Successful Drawdown Under The Secured Financing Facility

GULFSANDS PETROLEUM PLC

Successful Drawdown Under The Secured Financing Facility

Gulfsands Petroleum plc (“Gulfsands” or the “Company“), the oil and gas company with assets in Syria and Colombia, is pleased to announce that it has successfully completed the drawdown of £1 million as the sixth tranche available under the Secured Term Financing Facility (as amended) (the “Facility”).

As announced on the 21 March 2018, the Facility was extended to provide for four additional tranches of £1 million each, to be available on each of 30 June 2018, 31 December 2018, 30 June 2019 and 31 December 2019. The first of those additional tranches, being the sixth tranche of the Facility overall, has now been successfully drawn down.

For further information, please refer to the Company’s website at www.gulfsands.com  or contact:

Gulfsands Petroleum Plc	+44 (0)20 7841 2727
John Bell, Managing Director Andrew Morris, Finance Director James Ede-Golightly, Non-Executive Chairman
Camarco	+44 (0)20 3757 4983
Billy Clegg / Owen Roberts

 

Certain statements included herein constitute “forward-looking statements” concerning the Company within the meaning of applicable securities legislation. These forward-looking statements are based on certain assumptions made by Gulfsands and as such are not a guarantee of future performance. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond Gulfsands’ ability to control or estimate precisely, such as general economic and market conditions in various countries and regions, political risks, environmental and physical risks, legislative, fiscal and regulatory developments, drilling and production results, reserves estimates, changes in demand for Gulfsands’ products, increased costs of production or price fluctuations in crude oil and natural gas. Gulfsands cannot give any assurance that such forward-looking statements will prove to be correct. Gulfsands does not undertake any obligation to update or revise publicly any forward-looking statements set out herein, whether as a result of new information, future events or otherwise, except as required by applicable laws.