Statement re Notification of Major Interests in...

Immediate Release                                               15 January 2010



                    GULFSANDS PETROLEUM PLC ("the Company")

                   Notification of Major Interests in Shares

The  Company was  notified on  14 April 2010 by  Schroders plc that, following a
sale of 130,000 shares on 13 April 2010, Schroders Investment Management Limited
("SIML") now holds 25,964,628 shares representing 21.45% of the Company's issued
share  capital and has voting rights over 19,258,242 shares representing 15.91%
of the total issued and voting share capital of the Company.


For more information please contact:

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

Buchanan Communications Limited (London)                   [phone]
Bobby Morse
Ben Romney

RBC Capital Markets (London)                               [phone]
Josh Critchley
Matthew Coakes
Martin Eales


ABOUT GULFSANDS:

Gulfsands is listed on the AIM market of the London Stock Exchange.

Syria

Gulfsands  owns a 50% working interest and is operator of Block 26 in North East
Syria.   The Khurbet  East oil  field was  discovered in June 2007 and commenced
commercial production within 13 months of the discovery. This field is producing
at  an average gross production rate  of approximately 17,000 barrels of oil per
day through an early production facility. In January 2010, approval was received
for  the  commercial  development  of  the  Yousefieh  oil  field, discovered in
November  2008 and located approximately 3 kilometres  from the Khurbet East oil
field.  Block  26 covers  approximately  8,250 square kilometres and encompasses
existing fields which currently produce over 100,000 barrels of oil per day, and
are  operated mainly by  the Syrian Petroleum  Company.  The current exploration
licence  expires  in  August  2010 and  is  extendable for a further two years.
Gulfsands'  working interest 2P reserves in Syria at 31 December 2009 were 46.0
mmbbls.

Iraq

Gulfsands signed a Memorandum of Understanding in January 2005 with the Ministry
of Oil in Iraq for the Maysan Gas Project in Southern Iraq, following completion
of  a  feasibility  study  on  the  project,  and  is  negotiating  details of a
definitive contract for this regionally important development.  The project will
gather, process and transmit natural gas that is currently a waste by-product of
oil  production  and  as  a  result  of  the  present  practice  of gas flaring,
contributes  to significant environmental  damage in the  region. The Company is
actively  engaged in discussions with respect  to financing and potential equity
partners.  Gulfsands has no reserves in Iraq.

Gulf of Mexico, USA

The  Company  owns  interests  in  37 leases  offshore Texas and Louisiana which
include  24 producing  oil  and  gas  fields  with  proved  and probable working
interest reserves at 31 December 2009 of 4.6 mmboe.

Certain  statements  included  herein  constitute  "forward-looking  statements"
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. Actual  results could differ materially
from  those  expressed  or  implied  in  such  forward-looking statements due to
factors  such  as  general  economic  and  market conditions, increased costs of
production or  a decline in oil and gas prices. Gulfsands is under no obligation
to  update or revise any forward-looking statements,  whether as a result of new
information, future events or otherwise, except as required by applicable laws.

More information can be found on the Company's website www.gulfsands.com


Dealing Disclosure Requirements

Under  the provisions  of Rule  8.3 of the  Takeover Code  (the "Code"),  if any
person  is, or becomes,  "interested" (directly or  indirectly) in 1% or more of
any class of "relevant securities" of Gulfsands, all "dealings" in any "relevant
securities" of that company (including by means of an option in respect of, or a
derivative  referenced  to,  any  such  "relevant  securities") must be publicly
disclosed  by no later than  3.30 p.m. (London time) on  the London business day
following  the date of the relevant  transaction. This requirement will continue
until  the date on which the offer  becomes, or is declared, unconditional as to
acceptances,  lapses or  is otherwise  withdrawn or  on which the "offer period"
otherwise  ends. If two or more persons act together pursuant to an agreement or
understanding, whether formal or informal, to acquire an "interest" in "relevant
securities"  of Gulfsands,  they will  be deemed  to be  a single person for the
purpose of Rule 8.3.

Under  the  provisions  of  Rule  8.1 of  the  Code, all "dealings" in "relevant
securities"  of Gulfsands by the potential offeror or by Gulfsands, or by any of
their  respective "associates",  must be  disclosed by  no later than 12.00 noon
(London  time) on  the London  business day  following the  date of the relevant
transaction.

A  disclosure  table,  giving  details  of  the  companies  in  whose  "relevant
securities" "dealings" should be disclosed, and the number of such securities in
issue,    can    be    found    on    the    Takeover    Panel's    website   at
www.thetakeoverpanel.org.uk.

"Interests  in securities"  arise, in  summary, when  a person has long economic
exposure,   whether  conditional  or  absolute,  to  changes  in  the  price  of
securities.  In particular, a person will be  treated as having an "interest" by
virtue  of the ownership or control of securities, or by virtue of any option in
respect of, or derivative referenced to, securities.

Terms in quotation marks are defined in the Code, which can also be found on the
Panel's  website. If you are in any doubt  as to whether or not you are required
to disclose a "dealing" under Rule 8, you should consult the Panel.



[HUG#1403860]