Issue of Equity

18th May 2006 07:01

Gulfsands Petroleum PLC18 May 2006 18 May 2006 Gulfsands Petroleum PLC ("Gulfsands" or "the Company") Issue of Equity The Board of Gulfsands announces that options have been exercised by two formernon-executive directors in respect of 250,000 ordinary shares of 5.714p in theCompany ("Ordinary Shares") under the Gulfsands Petroleum plc 2005 Share OptionPlan at an exercise price of 130 pence each. The new Ordinary Shares will rank pari passu with the existing Ordinary Sharesof the Company and have been allotted and issued credited as fully paid. Application has been made for the new Ordinary Shares to be admitted to tradingon AIM and dealings are expected to commence on or around 23 May 2006. Following the allotment of the new ordinary shares the issued share capital ofthe Company will be 93,481,250 Ordinary Shares. Enquiries: Gulfsands Petroleum (Houston) 001-713-626-9564 David DeCort, Chief Financial Officer This information is provided by RNS The company news service from the London Stock Exchange

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