Holding in Company

Immediate Release 28 May 2008



               Gulfsands Petroleum plc ("the Company")

              Notification of Major Interests in Shares


The Company  was  notified  on  16 May  2008  by  Artemis  Investment
Management Ltd  that following  a recent  sale of  195,000 shares  by
Artemis UK Smaller  Companies, the  fund no longer  has a  notifiable
interest in the Company's shares.

Enquiries:


Gulfsands Petroleum                              [phone]
Kenneth Judge, Director of Corporate Development [phone]

Buchanan Communications Limited (London)         [phone]
Bobby Morse
Nick Melson

RBC Capital Markets (London)                     [phone]
Andrew K. Smith
Sarah Wharry

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