Gulfsands Petroleum - News Releases - Notification of Major Interest in Shares

January 07, 2011
Notification of Major Interest in Shares

For filings with the FSA include the annex
For filings with issuer exclude the annex

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESⁱ

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:ⁱⁱ	Gulfsands Petroleum PLC
2 Reason for the notification (please tick the appropriate box or boxes):	X
An acquisition or disposal of voting rights
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments	X
An event changing the breakdown of voting rights
Other (please specify):
3. Full name of person(s) subject to the notification obligation:ⁱⁱⁱ	BlackRock, Inc.
4. Full name of shareholder(s) (if different from 3.):^iv
5. Date of the transaction and date on which the threshold is crossed or reached:^v	5th January 2011
6. Date on which issuer notified:	6th January 2011
7. Threshold(s) that is/are crossed or reached: ^{vi, vii}	Holding has gone above 5%

8. Notified details:
A: Voting rights attached to shares^{viii, ix}
Class/type of shares if possible using the ISIN CODE	Situation previous to the triggering transaction		Resulting situation after the triggering transaction
	Number of Shares	Number of Voting Rights	Number of shares	Number of voting rights		% of voting rights x
			Direct	Direct^xi	Indirect^xii	Direct	Indirect
GB00B06VGC01	N/A	N/A	N/A	N/A	4,937,449	N/A	4.06%

B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument	Expiration date^xiii	Exercise/ Conversion Period^xiv	Number of voting rights that may be acquired if the instrument is exercised/ converted.	% of voting rights^x

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments ^{xv, xvi}
Resulting situation after the triggering transaction
Type of financial instrument	Exercise price	Expiration date ^xvii	Exercise/ Conversion period ^xviii	Number of voting rights instrument refers to	% of voting rights ^{xix, xx}
CFD				1,146,548	Nominal	Delta
					0.94%	0.94%

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable: ^xxi

BlackRock Investment Management (UK) Limited - 6,083,997 (5.00%)

Proxy Voting:
10. Name of the proxy holder:
11. Number of voting rights proxy holder will cease to hold:
12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:	BlackRock Threshold Reporting Team
14. Contact name:	Stuart Watchorn
15. Contact telephone number:	020 7743 5741; stuart.watchorn@blackrock.com

Note: Annex should only be submitted to the FSA not the issuer

Annex: Notification of major interests in shares^xxii

A: Identity of the persons or legal entity subject to the notification obligation
Full name (including legal form of legal entities)	BlackRock, Inc.
Contact address (registered office for legal entities)	33 King William Street, London, EC4R 9AS
Phone number & email	020 7743 5741;
Other useful information (at least legal representative for legal persons)	Stuart Watchorn

B: Identity of the notifier, if applicable
Full name
Contact address
Phone number & email
Other useful information (e.g. functional relationship with the person or legal entity subject to the notification obligation)

C: Additional information

For notes on how to complete form TR-1 please see the FSA website.

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