Gulfsands Petroleum PLC

Gulfsands Petroleum PLC is an independent oil and gas exploration, development and production group based in Houston, Texas. Gulfsands has development, exploitation and exploration projects in the USA (offshore Gulf of Mexico and onshore Gulf Coast) and the Syrian Arab Republic and has signed a memorandum of understanding relating to a large project in Iraq.

Ordinary shares of the Company trade on the Alternative Investment Market ("AIM") of the London Stock Exchange under the symbol GPX.

In the USA Gulf of Mexico, Gulfsands owns interests in 64 offshore blocks comprising approximately 216,000 gross acres which includes 39 producing oil and gas fields offshore Texas and Louisiana. Proved and probable reserves are approximately 30.3 billion cubic feet of natural gas equivalents, consisting of 14.94 billion cubic feet of natural gas and 2.56 million barrels of oil as of 30 June 2005. For the first half of 2005 net working interest production to Gulfsands from these 39 fields has been at an average daily volume of between 2,500 -- 3,000 barrels of oil equivalent per day.

In the Syrian Arab Republic, Gulfsands owns a 50% working interest in Block 26. This block located in northeast Syria covers an area of approximately 11,000 square kilometers, and surrounds areas which currently produce over 100,000 barrels of oil per day from existing fields. Gulfsands has identified 31 exploitation and exploration prospects and leads with mean resources potential exceeding 1 billion barrels of recoverable oil. The first well is anticipated to be drilled by Gulfsands during the first half of 2006.

Gulfsands signed a Memorandum of Understanding in January 2005 with the Ministry of Oil in Iraq for the Misan Gas Project located in Southern Iraq and is currently working towards the execution of a definitive contract for the project. Gulfsands has completed a feasibility study and expects to conduct further technical work and commercial discussions with the Iraq Oil Ministry. The Misan Gas Project is a midstream project that gathers gas that is currently being flared at the oil fields in Southern Iraq, brings the gas to a central processing plant to clean it of impurities and remove the light hydrocarbon liquid fraction (Natural Gas Liquids), and then transmits the natural gas for further distribution and use in Iraq. The extracted hydrocarbon liquids are then transmitted to a southern port for storage, offloading and export. Gulfsands has a 100% interest in the Misan Gas Project.

Gulfsands formed a subsidiary company, Darcy Energy LLC ("Darcy Energy"), to conduct onshore USA Gulf Coast field re-development and exploration. Darcy Energy has acquired interests in two onshore projects in which discoveries have been made on both of them. Darcy commenced first production in the summer of 2005.

Gulfsands Petroleum Announces Half Year Results
Thursday, September 15, 2005

Gulfsands Petroleum PLC, the AIM listed oil and gas exploration, development and production company with activities in the USA, Syria and Iraq, announces its results for the six months ended 30 June 2005.

Financial highlights
Turnover for period increased to $26.04 million (30 June 2004: $8.95 million).
Operating profit for period increased to $8.74 million (30 June 2004: $1.45 million).
Cash flow from operating activities for the period increased to $12.03 million (30 June 2004: $434,000).
Retained profit for period increased to $1.54 million (30 June 2004: $33,000).

Operational highlights

Proved and probable reserves within Northstar Gulfsands LLC, of which Gulfsands owns 52.6%, increased significantly as of 30 June 2005 to 58.1 billion cubic feet of natural gas equivalents (BCFGE) with a net present value discounted at 10% (NPV10) of $248.1 million (30 June 2004: 51.7 BCFGE with a NPV10 of $137.5 million).
Gulfsands increased its working interest in Block 26 in Syria to 50% and became the operator.

Gulfsands signed a Memorandum of Understanding with the Iraq Ministry of Oil on the Misan Gas Project.
Gulfsands increased its ownership in Misan Gas Project, Iraq to 100% from 85%.

Gulfsands successfully listed on AIM in April 2005 and raised approximately 30 million (net of expenses).
Northstar Gulfsands LLC had a natural gas discovery in the Gulf of Mexico that tested natural gas at a rate of 5.2 million cubic feet of gas per day with net reserves potential of approximately 1 BCFGE.
Northstar Gulfsands LLC participated in 10 recompletions and workovers on wells which resulted in approximately 3.2 BCFGE reserve additions at a cost of approximately $.50 per million cubic feet of natural gas.

Strategic highlights Subsequent to 30 June 2005:

Gulfsands commenced the acquisition of some 1,170 kilometers of 2D seismic on Block 26,
Syria.
Northstar Gulfsands LLC participated in two new natural gas discoveries in the Gulf of
Mexico with net potential reserves of some 2 5 BCFGE.
Darcy Energy LLC, owned 80% by Gulfsands, participated in a natural gas discovery in
Fort Bend County Texas with a 37.5% working interest. The well was production tested
at a daily rate of 1.5 million cubic feet of natural gas and 36 barrels of condensate.
Darcy Energy LLC commenced onshore gas production from the Emily Hawes Field in
Calhoun County Texas at a 34.375% working interest.

John Dorrier, CEO of Gulfsands Petroleum, said:

Gulfsands IPO, the acquisition of the additional interests in Syria and Iraq, and the continued strong performance in the Gulf of Mexico are key achievements during the first half of the year. Gulfsands is pleased to report that Northstar Gulfsands operations suffered minimal damage from Hurricane Katrina. Current production is over 90% of pre-storm levels and expected to increase further during the next few weeks as the few affected facilities are returned to production.

Gulfsands Announces Offshore Discovery in the Gulf of Mexico
Wednesday, December 14, 2005

Gulfsands Petroleum PLC has announced a new discovery in the Gulf of Mexico.

Exploration Discovery and Drilling Update for the Gulf of Mexico
Gulfsands participated at a 12.5% working interest in an exploration well on Eugene Island 58. This well has been drilled to a total measured depth of 11,655 feet and the wireline logs of the well indicated the presence of hydrocarbons within several zones with approximately 170 feet of potential net pay. This well tested natural gas at a rate of 8.2 million cubic feet per day and 134 barrels of condensate per day. Production casing has been set and completion operations have commenced and the well is scheduled to commence first production in late March of 2006. The net cost to Gulfsands for the drilling, completion and facility costs to hook up this well is estimated to be approximately $986,000.

Upon completion of operations on the Eugene Island 58 discovery well, Gulfsands will participate in a three well exploration drilling campaign in the immediate area, where Gulfsands will be participating with a 25% working interest in each of these wells.

Gulfsands also participated recently at a 13.15% working interest in a sidetrack well on Ship Shoal Block 177 at a net cost of approximately $465,000. This well had approximately 19 feet of net pay and was put on production last week at a gross daily rate of approximately 5 million cubic feet of natural gas and 31 barrels of oil.

The Company also participated at a 5.26% working interest in an exploration well at High Island 528 that was unsuccessful at a net cost to Gulfsands of approximately $188,000.

Since Gulfsands listed on AIM in April 2005, the Company has participated in the drilling of six offshore Gulf of Mexico exploration wells and four of those six have been discoveries.

John Dorrier, CEO of Gulfsands Petroleum, said:

We are pleased with the overall results of the 2005 exploration programs in the Gulf. These wells put the Company in a good position to move production back to pre-storm levels and above, as offshore pipeline infrastructure owned and operated by third-parties is brought back into service.

Gulfsands Announces Reserves Report for Tigris Structure on Block 26, Syria
Monday, January 30, 2006

Gulfsands Petroleum PLC (symbol GPX), the AIM listed oil and gas exploration, development and production company with activities in the USA, Syria and Iraq, reports that an independent reserves study has been completed by Ryder Scott Company, L.P. on the Tigris structure in Block 26, Syria.

Highlights

As the operator and having a 50% working interest in Block 26, Syria, Gulfsands engaged Ryder Scott Company, L.P. (Ryder Scott), an independent petroleum engineering firm, to conduct a reserves study based on the results of a well drilled on the Tigris structure in 1994 and 3D seismic data over the structure. Ryder Scott developed two cases for this evaluation, an oil case and a gas case, as there is not sufficient data available at this time to determine the expected hydrocarbon fluid contained within the Tigris structure. This reserves study as of 1 January 2006 classified recoverable Probable and Possible Reserves and Prospective Resource as follows:

For primarily a natural gas accumulation, Ryder Scott has classified 442 BCFG as Probable Reserves, 442 BCFG as Possible Reserves, and a further 3447 BCFG as a Prospective Resource. In summary total reserves potential among Probable, Possible and Prospective Resource is 4330 BCFG (722 MMBOE).

For primarily an oil accumulation, Ryder Scott has classified 104 million barrels of oil and 64 BCFG as Possible Reserves and a further 408 MMBO and 245 BCFG as a Prospective Resource. In summary total reserves potential among Possible and Prospective Resource is 512 MMBO and 308 BCFG (combined 563 MMBOE).


The study identified nine potentially productive zones within Palaeozoic age reservoirs in the existing well bore.

Gulfsands has signed a Letter of Intent with a drilling contractor to drill a well on the Tigris structure. Gulfsands plans to commence drilling this well in August 2006.

Block 26 Reserves

Subsequent to increasing Gulfsands working interest to 50% and becoming the operator of Block 26, the Group conducted a detailed review of the six wells previously drilled to test Palaeozoic reservoirs within the Block. From this work, Gulfsands concluded that three of the wells encountered potentially commercial hydrocarbon accumulations, based on drilling and independent wireline log evaluation. The largest of these probable accumulations, the Tigris structure, is found beneath the Souedieh Field, the largest oil field in Syria with estimated reserves of some 2 billion barrels of oil recoverable (approximately 1.3 billion barrels of oil produced to date). Gulfsands Production Sharing Contract in Block 26 includes oil and gas rights to Palaeozoic age reservoirs beneath all of the existing fields within Block 26, such as the Tigris structure, and oil and gas rights to all depths in areas outside of the existing producing fields.

Gulfsands engaged Ryder Scott to prepare an independent reserves study of the Tigris structure to quantify and classify reserves conforming to the definition approved by the Society of Petroleum Engineers and the World Petroleum Congress. The data used for the study includes wireline logs from a well drilled to the Palaeozoic in the Tigris structure in 1994, and a 3D seismic survey available over the Souedieh Field. Ryder Scott developed two cases for this evaluation, an oil case and a gas case, as there is not sufficient data available at this time to determine the expected hydrocarbon fluid contained within the Tigris structure. Reserves and resource figures in this announcement are stated in BCFG (billions of cubic feet of natural gas), MMBO (millions of barrels of oil) or MMBOE (millions of barrels of oil equivalent, where six thousand cubic feet of natural gas is equivalent to one barrel of oil).

The Tigris structure is of a significant size, potentially as large as some 75 square kilometres, and only one well bore currently exists on the structure. It is difficult to assess the full reserve potential within Proved, Probable and Possible Reserves at this time. However, based on the data that are currently available, the Ryder Scott report concludes that there are nine potentially productive zones contained within Palaeozoic age reservoirs found in the existing well bore on the Tigris structure. The report classifies 883 BCFG as Probable and Possible Reserves if the Tigris structure is primarily a natural gas accumulation. The report classifies 104 MMBO and 64 BCFG as Possible Reserves in these zones if the Tigris structure is primarily an oil accumulation.

The report further classifies an additional 3447 BCFG as an unrisked Prospective Resource within the gas case or 408 MMBO and 245 BCFG as an unrisked Prospective Resource in the oil case. The Prospective Resource was based on potential resources below the base of the hydrocarbon bearing zones encountered in the existing well bore, as a definitive water contact is not identified with the existing data.

In summary, the natural gas case equates to total reserves potential among Probable, Possible and Prospective Resource as 4330 BCFG (722 MMBOE), while the oil case equates to 512 MMBO and 308 BCFG (combined 563 MMBOE). Gulfsands 50% working interest in Block 26 and the Tigris reserves are subject to the fiscal terms of this Production Sharing Contract. Following this initial review, Ryder Scott will undertake a further review of the field development plan and costs, to quantify the economic value of the Probable and Possible Reserves and Prospective Resource.

John Dorrier, CEO of Gulfsands Petroleum, said:

This independent study confirms our conclusion that Block 26 contains probable pay in Palaeozoic reservoirs and significantly increases the Companys overall reserves. The report further demonstrates the lower risk associated with finding large oil and gas reserves in Block 26 and increases the total Block potential significantly.

This company looks promising...up 8p to 144p today.

The price as not moved up much since the day of the last RNS.

It will start to rise and I think it is better to get into it before it start shooting.

Buy Gulfsands Petroleum at 129p
Suggests Stewart Dalby of Oilbarrel.com

London's Alternative Investment Market has attracted another new recruit to its growing ranks of oil and gas stocks with news that Houston-based Gulfsands Petroleum hopes has raised 29.8 million at the placing price if 130p a share.

''AIM was almost the automatic choice," said a spokesman for the company, which was founded in 1997 by former BHP Petroleum executive John Dorrier, now chief executive and chairman of the AIM newcomer. "The record of AIM over the last 18 months for oil and gas companies has shown there's plenty of money out there for the right stocks. The London market also has an understanding of, and appetite for overseas exploration which isn't the case in the US, and given that most of the potential upside will be outside of the US, it seemed sensible to come to AIM."
That potential upside lies in Syria and, following the January 2005 signing of a Memorandum of Understanding with the oil ministry in Baghdad, in Iraq. The company has ambitious plans for Iraq, where its Misan Gas Project envisages the gathering, processing and transportation of the natural gas that is currently flared off when oil is produced in the south of the troubled country. Gulfsands has completed a feasibility study - ABB Lummus Global was the primary subcontractor for the work, which was completed in August 2004 - that envisages a two phase construction project: the first will take three years, the second a further two years. The project will involve the engineering, design, procurement, construction and operation of an associated natural gas gathering system, a Natural Gas Liquids (NGL) plant, and transmission pipelines.

"It will take significant investment to bring this to fruition," said the spokesman. "The crucial thing will be how they finance it, whether they bring in partners or go for debt or equity financing."

Once completed, the Misan Gas Project should produce some 46,600 barrels of NGL per day and 338 million cubic feet of dry sweet natural gas per day. Given the political and security concerns of working in Iraq however, no timeframes or price tags have been set for a project that many investors will rightly view as highly speculative in the current environment.

The production base comes from the company's 52.6 per cent stake in Northstar Gulfsands, which owns interests in 39 producing oil and gas fields offshore Texas and Louisiana. Those assets add up to a net production stream equivalent to 6,577 barrels of oil per day and a proved and probable reserves of 4.7 million barrels of oil and 29 billion cubic feet of gas in the US Gulf of Mexico.

That production stream should be boosted over the coming months as work begins to restart production from the Emily Hawes field on Matagorda Island in Texas. Gulfsands has an interest in Emily Hawes through its 70 per cent holding in Darcy Energy, which in turn holds 25 per cent of the gas deposit, which was shut in nearly 15 years ago due to the poor completion technologies employed at the time. The current plan involves the sidetracking of the original wells, re-drilling the proven productive intervals and completing the new wells with state of the art sand control technology. A pipeline is in place to allow for immediate sales into the pipeline grid, which is expected to get underway in the first half of this year.

Gulfsands is also active elsewhere in the Middle East, where it has a 20 per cent stake in Block 26 in Syria through a joint venture with fellow US company Devon Energy. The block covers 11,000 sq km and lies in a known producing area. The joint venture partners plan to shoot 2D seismic over the first half of 2005 with the first well slated for the fourth quarter. Gulfsands has identified 27 prospects on the acreage which could add up to a reserve base of 1.1 billion barrels of recoverable oil.

The management team behind the company has a track record in the business: Dorrier is a former senior international exploration executive for BHP Petroleum, while chief financial officer David DeCort is the former CFO of US independent Seven Seas Petroleum. Mahdi Sajjad, who will head up international business development, is the former managing director of International Development Corporation in Dubai.

It adds up to quite a substantial package. Whatever the value attributed to MoU signings in Baghdad - and most investors are likely to be wary of a small company punching above its weight in such a troubled area when the heavyweights are still steering well clear - Gulfsands' position in Syria and its exposure to the booming North American market will make it one of the more robust newcomers to the London market.

January 31, 2006
Gulfsands Announces New Offshore Discovery in the Gulf of Mexico

--------------------------------------------------------------------------------

Update on Gulfsands Production in the Gulf of Mexico

Gulfsands Petroleum PLC (symbol GPX), the AIM listed oil and gas exploration, development and production company with activities in the USA, Syria and Iraq, is pleased to announce a new discovery in the Gulf of Mexico.

Gulf of Mexico Exploration Discovery at Eugene Island 58

Gulfsands has participated at a 25% working interest in another exploration discovery within Eugene Island 58 (EI58). Following the exploration success at EI58 announced on 14 December 2005, this new EI58 exploration well has been drilled to a total measured depth of 13,914 feet (13,380 feet true vertical depth). Electric logs acquired during drilling operations indicate the presence of hydrocarbons within multiple zones, with approximately 188 feet of potential net pay. Production casing has been set and completion operations have commenced. A test of the lowermost productive interval in the well produced natural gas at a rate of 4.5 million cubic feet per day and 24 barrels of condensate per day. First production from this well is scheduled to commence in April 2006. The net cost to Gulfsands for the drilling, completion and facility costs to hook up this well is estimated to be approximately $2.4 million.

Gulfsands will also participate with a 25% working interest in two further exploration wells in the immediate area during 2006.

Here's an article just out on GPX.Registration is free.Makes good reading.

http://www.proactiveinvestors.com/registered/articles/article.asp?GPX2

Gulfsands Petroleum Plc: Interesting mix of plays in Gulf of Mexico, Middle East

Gulfsands Petroleum PLC is the holding company of an oil and gas exploration, development and production group based in Houston, Texas with activities focused in the USA, Syria and Iraq.

Gulfsands listed on AIM on the 8th of April 2005 raising 29.8m, and has since been positioning itself for an active drilling programme. Upon listing GPX had a 52.6% interest in Northstar Gulfsands, which owns interests in 39 producing oil and gas fields offshore Texas and Louisiana and operates 8 of those fields. Northstar Gulfsands has proved and probable reserves of 4.7 mmbbls of oil and some 29.2 bcf of gas as of November 1, 2004. Gulfands furthermore has 20% interest in the Syrian Block 26 with significant exploration potential, an Iraqi gas commercialisation agreement and some small gas interests onshore USA

This is still a bargain and worth buying.

Oh dear...very bad news...

Gulfsands says no moveable oil at Souedieh North Well in Syria - AFX

LONDON (AFX) - Gulfsands Petroleum PLC said it has completed drilling and suspended the Souedieh North well in Block 26, Syria, after being unable to recover moveable oil.

The AIM-listed oil and gas exploration and development company said preliminary analysis shows that the oil is low API gravity/high viscosity in the Tertiary reservoirs, and that the lower porosity and permeability Cretaceous reservoirs at this location may produce oil after mechanical or chemical stimulation.

Gulfsands is the operator and 50 pct working interest owner in the block.

newsdesk@afxnews.com

600K "X" trade gone through, might have cleared a sellers stock.

Could be interesting with drilling going on at the moment.

http://www.oilbarrel.com/email_index.html?page=/news/article.html?body=1&key=oilbarrel_en:1159843589&feed=oilbarrel_en


03.10.2006

Gulfsands Petroleum Back On Track In The US Gulf But Syria Is The Real Buzz In The Portfolio

Although all its production and revenue comes from the US, investors in Gulfsands Petroleum are currently watching not the waters of the Gulf of Mexico but the desert sands of Syria.

The AIM-quoted companys US production stream, back up to 2,800 barrels of oil equivalent per day following the hurricane disruption of 2005, is very nice to have, generating net income of US$874,000 on revenues of just over US$12 million for the first six months of the year. But Syria is home to the real excitement in the Gulfsands portfolio.

The company is currently drilling ahead with the high impact Tigris-1 exploration well, its second well on Block 26. This 11,000 sq km tranche of acreage, equivalent in size to 50 North Sea blocks, lies in a proven oil and gas province: the block is home to fields that are producing over 120,000 barrels of oil per day for the state oil firm, the Syrian Petroleum Co. There are numerous significant hydrocarbon accumulations here, mainly within the shallower Cretaceous reservoirs, totalling some 3 billion barrels of recoverable oil. Gulfsands production sharing contract gives it - and 50/50 partner Emerald Energy - the rights to the deep (Palaeozoic) reservoirs under existing fields and rights to all reservoirs outside the existing fields.

The partners first well on the block, Souedieh North-1, drilled in the second quarter, was something of a disappointment, failing to recover moveable hydrocarbons during wireline testing. The well has been suspended for further analysis to determine whether to stimulate the well through chemical or mechanical stimulation or to deepen it (or abandon it).

This has no bearing on the prospectivity of the Tigris structure, which has the potential to hold more than 4 trillion cubic feet of gas. The well will go down to 4,500 metres to target the Carboniferous and Devonian-aged reservoirs that lie directly under the Souedieh field, the largest known oilfield in Syria.

This is not the first well to target these deep reservoirs. In 1994 SPC drilled the S1100 well, about 1 km to the northeast of Gulfsands wellsite. Although the state oil company struggled with the deep well, wireline logs indicated the presence of a substantial hydrocarbon column. This, however, needs to be proven by the drillbit: investors have another month or so until the well hits target depth.

This isnt high risk wildcatting - the well is surrounded by producing fields - but as the results from Souedieh North-1 show, nothing is certain until the drillbit goes down. Gulfsands does have plenty of opportunity to hit pay dirt, however: it has identified 31 prospects within the block, with mean resources potential of more than 1 billion barrels of recoverable oil. It is these kinds of numbers that mean the companys production streams from the US, although very welcome, are something of a sideshow for investors.

Up today :)

Getting near the 100p level now, lets hope we can break through, and can then break upwards.

Breaking through 100p :)

Gulfsands Petroleum PLC
19 October 2006

Drilling Update - Tigris-1 well, Syria

Appointment of Director of Corporate Development

Expansion of London presence

London, 19th October, 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 drilling activity in Syria
and announce the appointment of Kenneth Judge to the Board of Directors as
Director of Corporate Development in parallel with the establishment of the
Company's new London office.

Tigris -1 Well

The Tigris-1 well in Block 26, Syria is drilling at a depth of 2,280 metres and
is estimated to take 90 to 120 days to drill and evaluate. Drilling of Tigris-1 commenced on 10 September 2006. The well is targeting a total depth of
approximately 4,500 metres. The Company owns the deep rights in Tigris to oil
and gas contained in Paleozoic reservoirs, which will not be penetrated until
near the end of drilling this well.

Gulfsands has commenced the acquisition of an additional 266 kilometres of 2D
seismic in Block 26 for the purpose of finalizing the drilling program for the
first half of 2007.

Director of Corporate Development

With immediate effect, Kenneth Peter Judge OAM has been appointed as Director of Corporate Development. Mr. Judge's role will primarily include corporate
strategy and liaison with the Company's institutional shareholder base.

Mr. Judge, is well known to the London investment community as a corporate
lawyer with extensive business management and corporate development experience
having held numerous public company directorships and more recently having been
engaged in the establishment or corporate development of oil and gas, mining and technology companies in the United Kingdom, Middle East, USA, Australia, Europe, Canada, Latin America and South East Asia. Mr. Judge has undergraduate and post-graduate degrees in Commerce, Jurisprudence and Laws from the University of Western Australia and was awarded an Order of Australia Medal in 1994.

Expansion of London Presence

In response to an anticipated increase in the Company's activity in the Middle
East, Gulfsands is establishing a London office at 33 Cavendish Square, London
W1G 0PW. This office will serve as the Company's corporate and technical
headquarters in support of activity in the City of London and operations in the
Middle East.

Gulfsands' CEO, John Dorrier, said:

'We are pleased to welcome Ken Judge to the Board. Ken has a wide range of
relevant corporate development experience and will assist with shaping and
executing the Company's strategies and liaison with our largely Europe based,
institutional shareholders. The opening of our new London office should also
facilitate the Company's presence in the City and provide a home for an
expansion of our technical resources to support our operations in Syria and
Iraq.'

Ticking up :)

Closed above 100p :-)