Notification of Major Interests in Shares

Immediate Release 04 December 2008

Gulfsands Petroleum plc ("the Company")

Notification of Major Interests in Shares


The Company was  notified on  4 December  2008 that  Mr Abdul  Rahman
Kayed is  the  beneficial holder  of  11,500,000 ordinary  shares  of
5.714p each  in  the  Company,  representing 9.7  per  cent.  of  the
Company's issued share capital.

In addition, the Company will be presenting at Ambrian's Energy Forum
today. A copy of the presentation  will be uploaded to the  Company's
website later today: www.gulfsands.com


For more information please contact:

Gulfsands Petroleum (London) [phone]
Kenneth Judge, Director of Corporate Development [phone]
Jon Bey, Investor Relations: North America + 1 866 689 2599

Buchanan Communications Limited (London) [phone]
Bobby Morse
Sam Botterill

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

ABOUT GULFSANDS:

Gulfsands is listed on AIM.

Syria
Gulfsands owns a 50% working interest and is operator of Block 26  in
North East Syria. The Khurbet East oil field was discovered following
the completion  of  drilling of  the  KHE-1  well in  June  2007  and
commenced commercial production  within 13 months  of the  discovery.
This field is currently producing in excess of 11,500 barrels of  oil
per day through  the Khurbet  East Early  Production Facility  (EPF).
Block 26 covers approximately 8,250 square kilometres and encompasses
existing fields which currently produce  over 100,000 barrels of  oil
per day.  These fields  are operated  mainly by  the Syria  Petroleum
Company. On 23 August 2007, the Company initiated the first extension
period of  exploration on  Block 26  for a  further period  of  three
years.

Iraq
Gulfsands signed a Memorandum of  Understanding in January 2005  with
the Ministry of Oil  in Iraq for the  Maysan Gas Project in  Southern
Iraq and following completion of  a feasibility study on the  project
is negotiating  details of  definitive contract  for this  regionally
important development. The project will gather, process and  transmit
natural gas that is  currently a waste  by-product of oil  production
and as a result of the  present practice of gas flaring,  contributes
to significant environmental damage in the region.

Gulf of Mexico, USA
The  Company  owns  interests   in  48  offshore  blocks   comprising
approximately 168,000 gross acres  which includes numerous  producing
oil and  gas fields  offshore  Texas and  Louisiana with  proved  and
probable recoverable reserves net to Gulfsands at 31 December 2007 of
41.5 BCFGE (6.9 MMBOE), consisting of 27.3 BCFG and 2.36 MMBO.


Onshore USA
Gulfsands owns interests in two oil and gas fields onshore Texas, USA
(98.5% working  interest  in  Emily Hawes  Field  and  37.5%  working
interest in  Barb Mag  Field) with  proved and  probable  recoverable
reserves net  to Gulfsands  at 31  December 2007  of 3.1  BCFGE  (0.5
MMBOE), consisting of 2.8 BCFG and 57,000 barrels of oil.

Certain  statements  included   herein  constitute   'forward-looking
statements' within the meaning of applicable securities  legislation.
These forward-looking  statements are  based on  certain  assumptions
made by  Gulfsands  and  as  such  are  not  a  guarantee  of  future
performance.  Actual  results  could  differ  materially  from  those
expressed or  implied  in  such  forward-looking  statements  due  to
factors such  as general  economic and  market conditions,  increased
costs of production or a decline in oil and gas prices. Gulfsands  is
under  no  obligation  to   update  or  revise  any   forward-looking
statements, whether as a result of new information, future events  or
otherwise, except as required by applicable laws.

More information can be found on the Company's website
www.gulfsands.net.

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