Statement re Syria Operations Update

Immediate Release   9th September 2010




                            GULFSANDS PETROLEUM PLC

                            Syria Operations Update

Khurbet East and Yousefieh Production

Yousefieh-4H Development Well

Forward Exploration Drilling Programme

3D Seismic Programme

Block 26 Licence Extension
London,  9th September 2010:  Gulfsands Petroleum  plc ("Gulfsands", the "Group"
or  the  "Company")  (AIM:  GPX),  the  oil  and gas production, exploration and
development  company with activities in Syria, Tunisia, Iraq, and the U.S.A., is
pleased  to provide  the following  update on  the Company's operations at Block
26, Syria where Gulfsands holds a 50% interest and acts as operator.


Yousefieh-4H Development Well

The  drilling of a third development  well on the Yousefieh field, Yousefieh-4H,
has  recently  been  completed.  Located  approximately  500 metres north of the
Yousefieh-1  discovery  well,  this  horizontal  well encountered the Cretaceous
Massive Formation at 2068 metres Measured Depth (1543 metres True Vertical Depth
below  mean  sea  level),  approximately  3 metres  deeper than the pre-drilling
prognosis.  A gross horizontal reservoir section of 718 metres was drilled in an
easterly direction across the Yousefieh structure, with an average net reservoir
pay  section  being  assessed  from  formation  logging  as  710 metres, average
porosity of 17.9% and average oil saturation of 86.5%.

The  gross horizontal reservoir  section drilled in  this well was  a record for
Gulfsands,  exceeding  that  of  311 metres  previously  achieved in the Khurbet
East-5H  well. Assessment of  reservoir facies along  hole via the  running of a
formation  imaging  logging  tool  suggests  that  the Yousefieh structure is of
increased  vertical thickness  to the  east than  previously understood from the
evaluation  of  seismic  data,  indicating  the  potential for further upside in
Yousefieh field oil-in-place volumes. Flow testing of the well will be conducted
in  late September, followed by  a field wide pressure  survey to further assess
the extent of the field's resource.


Khurbet East and Yousefieh Production

Aggregate  oil production  from the  Khurbet East  and Yousefieh  Fields has now
exceeded   10,750,000 barrels   with  daily  production  continuing  to  average
approximately  20,000 barrels of  oil per  day and  negligible amounts  of water
being produced.

Block 26 Exploration Licence Extension

Following  agreement having been reached  with the General Petroleum Corporation
of  Syria on  the planned  relinquishment of  25% of the exploration licence for
Block  26, the area of Block 26 has been  reduced to a contiguous area of 5,414
square  kilometres nominated by  Gulfsands and the  term of the licence extended
until August 2012.

Forward Exploration Drilling Programme

The  rig used  in the  drilling of  the Yousefieh-4H  well has been moved to the
south  of the producing Yousefieh field area and has spud the Yousefieh South 1
(YSO-1)  exploration  well,  which  is  located  approximately 2 km south of the
Yousefieh  field and is targeting a similar objective to the producing reservoir
at Yousefieh Field with unrisked gross speculative reserves in the range of 9 to
15 million  barrels.  Drilling and  evaluation of the  YSO-1 well is expected to
take approximately 30 days.

Following  this well, the  rig will then  move back into  the Khurbet East field
area to drill an additional vertical delineation well, KHE-18, on the north-west
flank of the field.


3D Seismic Programme

The  2010 3D seismic acquisition  programme has  been expanded  to approximately
1020 km2  and acquisition of  3D seismic data has  now commenced. These data are
being  acquired over a prospective region of  the block that lies immediately to
the west of the Greater Khurbet East survey area.  These data will be contiguous
with  Gulfsands  existing  database  of  3D seismic  data,  and  will be used to
identify new leads and prospects for drilling in 2011 and 2012.  Delivery of the
processed data is expected during the first quarter of 2011.


Commenting on this operations update, Ric Malcolm, CEO of Gulfsands, said

"We look forward to the tie-in of Yousefieh-4H which appears to have the
capability to significantly increase the daily production from the Yousefieh
Field. Gulfsands has commenced a period of unprecedented level of exploration
and development drilling activity that includes the  recently spud Yousefieh
South-1 well and  the acquisition of another large 3D seismic survey in
preparation for further exploration activity in the remaining two years of the
Block 26 licence.".

This  release has been approved by Richard Malcolm, Chief Executive of Gulfsands
Petroleum  Plc who has a Bachelor of  Science degree in Geology with 30 years of
experience in petroleum exploration and management. Mr. Malcolm has consented to
the  inclusion of  the technical  information in  this release  in the  form and
context in which it appears.

For more information please contact:

Gulfsands Petroleum (London)                                 [phone]

Richard Malcolm, Chief Executive Officer
Andrew Rose, Chief Financial Officer
Kenneth Judge, Director: Corporate Development &
Communications



Buchanan Communications Limited (London)                     [phone]

Bobby Morse
Ben Romney
Chris McMahon



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 18,000 barrels of oil per
day  through  an  early  production  facility.  A  second  field  discovery, the
Yousefieh field, was brought on-stream in April 2010, and is currently producing
approximately 2,000 barrels of oil per day. Block 26 covers approximately 5,414
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  exploration  licence  for  Block  26 expires  in  August  2012.
Gulfsands'  working interest 2P reserves in Syria at 31 December 2009 were 46.0
mmbbls.

Tunisia:

Gulfsands  is acquiring working interest positions in two exploration permits in
Tunisia  (Chorbane and Kerkouane Permits) and one exploration permit in Southern
Italy  (G.R15.PU) from  ADX Energy  Ltd the  operator of  all three permits. The
Company's  interest in  these permits  remains subject  to the completion of the
Company's farm obligations and various approvals from the governments of Tunisia
and Italy.

Kerkouane Permit - Offshore Tunisia
G.R15.PU  Permit (Pantelleria Permit) - Offshore Italy

G.R15.PU  is located offshore  the island of  Pantelleria southwest of Sicily in
Italian  waters and the Kerkouane Permit  is located offshore northeast Tunisia.
 The  two  permits  are  contiguous  and  comprise a total area of approximately
4,500 square km.

Gulfsands' work commitment for the Kerkouane Permit includes the drilling of the
Lambouka-1 exploration well. Gulfsands has earned a 30% working interest in both
permits  by  paying  approximately  35% of  the  cost  the  Lambouka-1  well and
reimbursing the operator for a portion of various pre-drill costs that include a
recently completed 3D seismic programme.

Chorbane Permit - Onshore Tunisia

The  Chorbane permit is located in central  Tunisia and covers an area of 2,428
square  km.  The  permit  is  surrounded  by  several  producing  oil fields and
extensive oil and gas infrastructure. Gulfsands' forward work commitment for the
Chorbane  permit includes  the drilling  of one  exploration well  in the fourth
quarter  of 2010 for which Gulfsands will  pay 80% of the estimated US$6 million
cost of the first exploration well so as to earn a 40% interest in the permit.

A  number of prospects  and leads have  been indentified within  the permit, the
most  prospective  being  a  large  tilted  horst block ("Sidi Daher") where the
operator has identified multiple potential targets estimated to hold recoverable
un-risked prospective resources of 80 mmboe.

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 4.7 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


[HUG#1443363]








This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
    
Source: Gulfsands Petroleum PLC via Thomson Reuters ONE