Gulfsands Petroleum plc announced the appointment of Michel Maurice Jacques Faure to the Board as a non-executive Director. Michel, aged 61, is a widely experienced Petroleum sector professional and recently retired from Royal Dutch Shell where he had enjoyed a very successful 30+ year career including lengthy and important engagements as Shell's Country Chairman and Chief Executive of a number of Shell affiliates including Tunisia, Morocco and most recently Saudi Arabia.

Gulfsands Petroleum plc announced that the Board has accepted the resignation of Mr. Ric Malcolm as Chief Executive and having done so, has appointed Mr. Mahdi Sajjad, currently Executive Director and President, to that position. The change will become effective immediately although Mr. Malcolm has agreed to remain available until the early summer to facilitate this management transition.

Gulfsands Petroleum plc announced group earnings results for the year ended December 31, 2012. The group has endured a difficult period since the implementation of sanctions against the oil industry in Syria and the company recorded a loss of $27.0 million and a cash outflow from operations of $14.6 million. The company anticipates that the group's performance will improve during 2013 and with the cash on hand at December 31, 2012 future exploration obligations for 2013 and beyond are fully funded. The group has no debt and is well funded with cash resources of $91 million at December 31, 2012.  The company now well positioned to use existing resources to deliver real growth and significant value for shareholders.