Holding(s) in Company

Immediate Release  2 July 2008

Gulfsands Petroleum plc ("the Company")

Notification of Major Interests in Shares


The Company was informed,  on 1 July 2008,  by Al Mashreq  Investment
Fund SA that  it had  transferred its holding  of 7,000,000  ordinary
shares in  the Company  to a  subsidiary company,  Al-Mashrek  Global
Invest Ltd.   Al  Mashreq  Investment Fund  SA  remains  beneficially
interested in 7,000,000 ordinary  shares in the Company  representing
5.96% of the  Company's issued share  capital, however, these  shares
are now registered as Al-Mashrek Global Invest Ltd.

Enquiries:


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

Buchanan Communications Limited (London)         [phone]
Bobby Morse
Ben Willey

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

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