Options Exercised

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Gulfsands Petroleum plc (“Gulfsands”, the “Group” or the “Company” – AIM: GPX), the oil and gas production, exploration and development company with activities in Syria, Iraq, and the U.S.A. announces that it has issued 87,000 new ordinary shares following an exercise of options by and an issue of shares to an employee of the Company on 4th April 2011. The total number of shares in issue following exercise of these options is 121,989,500 ordinary shares

Application has been made for these shares to be admitted to trading on AIM, with admission expected to occur on 13 April, 2011.

For more information please contact:

Gulfsands Petroleum (London) +44 (0)20 7434 6060
Richard Malcolm, Chief Executive Officer
Andrew Rose, Chief Financial Officer
Kenneth Judge, Director: Corporate Development & Communications


Buchanan Communications Limited (London) +44 (0)20 7466 5000
Bobby Morse
Ben Romney
Chris McMahon


RBC Capital Markets (London) +44 (0)20 7653 4000
Josh Critchley
Matthew Coakes
Martin Eales

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