Immediate Release 21 May 2009 Gulfsands Petroleum plc DIRECTORS' SHARE DEALINGS London 21st May 2009: 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 was advised yesterday by Mr. Mahdi Sajjad and Mr Andrew Rose, both directors of the Company, of the following dealings. Nordman Continental S.A., a company owned by a discretionary trust of which the children of Mr. Sajjad, are potential beneficiaries, has sold over the course of 19th and 20th May 2009, a total of 1,050,000 Gulfsands shares at an average price per share of approximately 178.4 pence. As a result of these transactions, Nordman Continental SA now owns 8,158,268 Gulfsands shares. Wickham Holdings, a company owned by a discretionary trust of which certain of Mr. Sajjad's relatives are potential beneficiaries, has sold over the course of 19th and 20th May 2009, 333,333 Gulfsands shares at an average price per share of 176.5 pence. Wickham Holdings now owns 66,667 Gulfsands shares. As Mr. Sajjad is deemed to be associated with Nordman Continental and Wickham Holdings, the number of shares in which Mr. Sajjad is deemed to have an interest is now 8,224,935 ordinary shares, representing approximately 6.94 per cent. of the Company's issued share capital. Mr Andrew Rose has acquired on 19 May 2009, 100,000 Gulfsands shares at a price of 183 pence per share. As a result of these transactions, Mr. Rose is deemed to have an interest in 400,000 ordinary shares representing approximately 0.34 per cent of the Company's issued capital. For more information please contact: Gulfsands Petroleum (London) +44 (0)20 7434 6060 Ric Malcolm, Chief Executive Officer Kenneth Judge, Director of Corporate Development +44 (0)7733 001 002 & Communications Buchanan Communications Limited (London) +44 (0)20 7466 5000 Bobby Morse Ben Romney RBC Capital Markets (London) +44 (0)20 7653 4667 Sarah Wharry 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 currently producing approximately 11,000 barrels of oil per day through an early production facility. 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 license expires in August 2010 and is extendable for a further two years. Gulfsands' working interest 2P reserves in Syria at 31 December 2008 were 35.2 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 44 blocks comprising approximately 138,000 gross acres offshore Texas and Louisiana, which include 30 producing oil and gas fields with proved and probable working interest reserves at 31 December 2008 of 5.1 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 ---END OF MESSAGE--- This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.