Gulfsands Petroleum Regulatory News (GPX)

2 December 2014

Gulfsands Petroleum Plc

Notices of requisition of General Meeting to remove Directors

The Company confirms that it has now received from Waterford Finance and Investment Limited ("Waterford") a valid notice of requisition of a General Meeting, at which resolutions will be proposed for the removal of Mr Mahdi Sajjad and Mr Ken Judge as Directors. Waterford is the holder of approximately 26.5% of the Company's issued shares.

The Company has also received from Mr Abdul Rahman Kayed ("ARK") a valid notice of requisition of a General Meeting, at which resolutions will be proposed to remove Mr Andrew West, Mr John Bell and Mr James Ede Golightly as Directors. ARK is the holder of approximately 9.75% of the Company's issued shares.

It is the Company's intention to convene a single General Meeting at which all these resolutions will be proposed. The Board is not able at this stage to express a consensus opinion on the subject matter of the meeting but will make its views known in the notice convening the meeting.

A Notice of General Meeting will be posted as soon as is practicable and in any event so as to ensure compliance with the requirements of the Companies Acts. It is expected that the General Meeting will be held in the first half of January 2015.

--ENDS--