| April 25, 2006 Issue of Equity | |
| Gulfsands Petroleum PLC ("Gulfsands" or "the Company") The Board of Gulfsands announces that options have been exercised by a former non-executive director in respect of 200,000 ordinary shares of 5.714p in the Company ("Ordinary Shares") under the Gulfsands Petroleum plc 2005 Share Option Plan at an exercise price of 130 pence each. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares of the Company and have been allotted and issued credited as fully paid. Application has been made for the new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on or around 28 April 2006. Following the allotment of the new ordinary shares the issued share capital of the Company will be 93,231,250 Ordinary Shares. Enquiries: Gulfsands Petroleum (Houston) 001-713-626-9564 David DeCort, Chief Financial Officer | |
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