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Drilling Commences on Yousefieh-1 Exploration Well

Source: www.gulfoilandgas.com 10/6/2008, Location: Middle East

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Gulfsands Petroleum plc, the oil and gas production, exploration and development company with activities in Syria, Iraq, and the U.S.A., is pleased to announce that drilling operations have commenced on the Yousefieh-1 exploration well in Block 26.

The Yousefieh-1 well is planned to be drilled to a total vertical depth of approximately 2300 meters, and will target Cretaceous aged reservoirs identified within a structure located immediately adjacent to the Khurbet East Oil Field. The well is designed to evaluate the potential of a newly identified play type within the Cretaceous reservoir system.

The Yousefieh-1 well is located very close to existing infrastructure, with the surface location of the well lying within 3 kilometers of the Khurbet East Early Production Facility (EPF).

The Company expects that drilling operations will be completed within 45 days.

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