TR-1 Notification of Major Interest in SharesJanuary 25th, 2012

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
N/A
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
N/A
An event changing the breakdown of voting rights
N/A
Other (please specify): Change of share capital and voting rights after buyback program N/A
3. Full name of person(s) subject to the
notification obligation:
iii
Waterford Finance & Investment Limited
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
24 January 2012
6. Date on which issuer notified: 25 January 2012
7. Threshold(s) that is/are crossed or
reached:
vi, vii
18.27%
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
Ordinary Shares 17,678,973 17,678,973 21,534,739 21,534,739 N/A 18.27% N/A
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
N/A N/A N/A N/A N/A
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
N/A N/A N/A N/A N/A Nominal Delta
N/A N/A
Total (A+B+C)
Number of voting rights Percentage of voting rights
21,534,739 18.27%
9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:
xxi
N/A
Proxy Voting:
10. Name of the proxy holder: N/A
11. Number of voting rights proxy holder will cease
to hold:
N/A
12. Date on which proxy holder will cease to hold
voting rights:
N/A
13. Additional information: N/A
14. Contact name: Paul Conway
15. Contact telephone number: 07781 216014