Notification of Major Interest in SharesSeptember 14th, 2011

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):
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
An event changing the breakdown of voting rights
Other (please specify):
3. Full name of person(s) subject to the
notification obligation:
iii
Liberty Square Asset Management, LP
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
14 September 2011
6. Date on which issuer notified: 14 September 2011
7. Threshold(s) that is/are crossed or
reached:
vi, vii
below 3%
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
Common Stock

ISIN:
GB00B06VGC01

3,710,500 3,710,500 below
3,659,000
below
3,659,000
below 3%
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
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
Nominal Delta
Total (A+B+C)
Number of voting rights Percentage of voting rights
below 3,659,000 below 3%
9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:
xxi
 
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: Liberty Square Asset Management, LP
14. Contact name: Matthew E Roberts
15. Contact telephone number: +1-617-747-7700