Gulfsands Petroleum reaches 17,000 BOPD at Khurbet East field

Gulfsands Petroleum reported that average daily gross oil production at the Khurbet East Field continues at a rate of approximately 17,000 barrels per day with the result that cumulative gross oil production has exceeded 7 million barrels, with minimal water production and minimal pressure depletion being observed to date.

The KHE-13 vertical development well, located approximately 1.5 kilometers to the south-west of the KHE-1 discovery well which was brought into production in January producing approximately 300 barrels of oil per day began to produce formation water with a water-cut rising to approximately 15%. The well has demonstrated the production capability of the southern portion of the Khurbet East Field, and it will now be shut in until completion of the commissioning of the Central Processing Facility ("CPF") which will incorporate water separation and processing capabilities currently not available at the Early Production Facility.

A down-hole operation to shut off the water producing zone in the KHE-13 well will not be attempted at this time to avoid any risk of blocking oil production from a key productive zone in the Khurbet East Field as the CPF will comfortably handle any water produced in association with oil production from this well.

This decision is not expected to negatively impact the Company's guidance of anticipated production from the Khurbet East Field during 2010.



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