Statement Re: Press Comment

Immediate Release 21 July 2008 Gulfsands Petroleum plc ("The Company") Statement Re: Press Comment The directors of Gulfsands Petroleum plc note this morning's press comment regarding the announcement of oil production. The Company expects to be able to update the market on progress in this matter before the end of the week. Enquiries: Gulfsands Petroleum +44 (0)20-7182-4016 Kenneth Judge, Director of Corporate Development +44 (0)7733-001-002 Buchanan Communications Limited (London) +44 (0)20-7466-5000 Bobby Morse Ben Willey RBC Capital Markets (London) +44 (0)20-7653 4804 Andrew K. Smith Sarah Wharry ---END OF MESSAGE---