Drilling Commences at Yousefieh-1 in Syria's Block 26

Gulfsands Petroleum has announced 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.