Drilling Update

Gulfsands Petroleum PLC
07 December 2006



Drilling Update - Tigris-1 well, Syria




London, 7th December, 2006:  Gulfsands Petroleum plc (AIM: GPX), the oil and gas
production, exploration and development company with activities in the USA,
Syria and Iraq is pleased to provide an update on the drilling of the Tigris-1
well in Block 26, Syria.



The Company has set 9 5/8 inch casing at a depth of 3,435 metres on the Tigris-1
well in Block 26, Syria.  At this depth, the wellbore has entered into the
Palaeozoic aged geologic section to which the Company owns contractual rights in
the Tigris structure. The well is currently drilling at a depth of 3,546 metres,
and it is anticipated to take a further 45 days to complete drilling and
wireline logging operations on this well.



The Tigris-1 well is projected to reach a total depth of approximately 4,500
metres and the surface location is located within the areal limits of the
Souedieh Field, where production of oil and gas from Cretaceous and Triassic
reservoirs is operated by the Syria Petroleum Company. The Tigris-1 well
objectives are the deeper Palaeozoic age reservoirs, for which the Company holds
contractual rights, underlying the Souedieh Field.  Gulfsands is the operator
and has a 50% working interest in Block 26.



The Tigris-1 well is the second well to target the Palaeozoic aged reservoirs
within the overall Tigris structure.  The S1100 well, drilled in 1994 by the
Syrian Petroleum Company and located approximately 1 kilometre northeast of the
Tigris-1 well, was the first well to intersect these reservoirs within this
structure.  Independent interpretation of the wireline logs from the S1100 well
indicates a substantial hydrocarbon column.  The main objective of the Tigirs-1
well is to confirm the presence of this hydrocarbon column.



The Tigris structure has been estimated by Ryder Scott Company, L.P. to have
probable reserves of 442 BCF of natural gas, and when combined with possible
reserves and prospective resource a total potential resource of some 4.3 TCF of
natural gas, or 562 million barrels of oil.  The Ryder Scott reserve reports can
be viewed on Gulfsands' website at www.gulfsands.net.



Gulfsands has also completed its recent seismic acquisition programme,
consisting of 266 kilometres of 2D seismic data.  This data will be used to
assist the definition of potential drilling locations.  Processing is currently
underway and delivery of the final interpretations is anticipated to commence
prior to year end.



Gulfsands' CEO, John Dorrier, said:



'We are pleased to have reached this landmark depth in Tigris-1.  We can now
begin drilling the geologic section which the Company owns contractual rights
to, and evaluate the reservoir concepts this well is designed to test.'







NB:  This release has been approved by the Company's geological staff who
include Jason Oden B Sc (Geophysics), Gulfsands Exploration Manager with 22
years of experience in petroleum exploration and management and a Professional
Geophysicist, for the purpose of the Guidance Note for Mining, Oil and Gas
Companies issued by the London Stock Exchange in respect of AIM companies, which
outlines standards of disclosure for mineral projects.





For further information including the Company's recent investor presentation,
please refer to the Company's website www.gulfsands.net or contact:




Gulfsands Petroleum (Houston)                                + 1-713-626-9564
John Dorrier, Chief Executive Officer
David DeCort, Chief Financial Officer

Gulfsands Petroleum (London)                                 020-7182-4016
Kenneth Judge, Director of Corporate Development             07733-001-002

College Hill (London)                                        020-7457-2020
Nick Elwes
Paddy Blewer

Teather & Greenwood (London)                                 020-7426-9000
James Maxwell (Corporate Finance)
Tanya Clarke (Specialist Sales)




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