Gulfsands Petroleum : Grant of Options to Directors

Gulfsands Petroleum plc ('Gulfsands', the 'Group' or the 'Company' - AIM : GPX), the oil and gas company with activities in Syria, Tunisia, Colombia and Morocco, announces that on 11 November 2016, the Company awarded to the Executive Directors and certain Non-Executive Directors of the Company options to acquire 17,000,000 ordinary shares in the capital of the Company under the rules of the Gulfsands Restricted Share Plan ('Options') and as part of their remuneration package. The Options are subject to various performance conditions and vesting dates and are exercisable at any time following vesting and prior to expiry on 11 November 2026 provided the recipients remain in continuous employment with the Company. Should employment be terminated, the number of options vesting and the date at which they may be exercised may be varied in accordance with the terms of the award.

A summary of the Options issued to the Directors is set out in the table below:

Director	Position	N Options	Exercise Price
John Bell	Managing Director	8,000,000	1p
Andrew Morris	Finance Director	5,000,000	1p
James Ede-Golightly	Non-Executive Chairman	2,000,000	3.375p
Michael Kroupeev	Non-Executive Director	1,000,000	3.375p
Richard Milne	Non-Executive Director	1,000,000	3.375p

Vesting dates and performance conditions for the recipients are as follows:

John Bell
2 million options will vest at intervals during the period from the date of grant up until 22 July 2018. Up to 2 million options will vest during the same period but will be dependent upon performance. 4 million options will be directly linked to re-entry to Syria based upon specific performance criteria to be set by January 2018.

Andrew Morris
1 million options will vest at intervals during the period from the date of grant up until 22 July 2018. Up to 1 million will vest during the same period dependent upon additional days worked in excess of contractual obligations. Up to a further 1 million options will vest during the same period but will be dependent upon performance. 2 million options will be directly linked to re-entry to Syria based upon performance conditions to be set by January 2018.

Non-Executive Directors
Share options listed in the table above for Non-Executive directors will vest half immediately and half on the 11 November 2017.

For further information, please refer to the Company's website at www.gulfsands.com or contact:

Gulfsands Petroleum Plc John Bell, Managing Director Andrew Morris, Finance Director James Ede-Golightly, Non-Executive Chairman	[phone]
Cantor Fitzgerald Europe Sarah Wharry Craig Francis	[phone]

Certain statements included herein constitute 'forward-looking statements' within the meaning of applicable securities legislation. These forward-looking statements are based on certain assumptions made by Gulfsands and as such are not a guarantee of future performance. Actual results could differ materially from those expressed or implied in such forward-looking statements due to factors such as general economic and market conditions, increased costs of production or a decline in oil and gas prices. Gulfsands is under no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	John Bell
2	Reason for notification
a)	Position / Status	Managing Director
b)	Initial Notification/Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Gulfsands Petroleum Plc
b)	LEI	N/A
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Options to subscribe for new ordinary share of 1.0 pence each GB00B06VGC01
b)	Nature of the transaction	Grant of options
c)	Price(s) and volumes(s)	Volume(s) Price(s) 8,000,000 1p
d)	Aggregated information	N/A - single transaction
e)	Date of the transaction	11 November 2016
f)	Place of the transaction	Outside of trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Andrew Morris
2	Reason for notification
a)	Position / Status	Finance Director
b)	Initial Notification/Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Gulfsands Petroleum Plc
b)	LEI	N/A
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Options to subscribe for new ordinary share of 1.0 pence each GB00B06VGC01
b)	Nature of the transaction	Grant of options
c)	Price(s) and volumes(s)	Volume(s) Price(s) 5,000,000 1p
d)	Aggregated information	N/A - single transaction
e)	Date of the transaction	11 November 2016
f)	Place of the transaction	Outside of trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	James Ede-Golightly
2	Reason for notification
a)	Position / Status	Non-Executive Chairman
b)	Initial Notification/Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Gulfsands Petroleum Plc
b)	LEI	N/A
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Options to subscribe for new ordinary share of 1.0 pence each GB00B06VGC01
b)	Nature of the transaction	Grant of options
c)	Price(s) and volumes(s)	Volume(s) Price(s) 2,000,000 3.375p
d)	Aggregated information	N/A - single transaction
e)	Date of the transaction	11 November 2016
f)	Place of the transaction	Outside of trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Michael Kroupeev
2	Reason for notification
a)	Position / Status	Non-Executive Director
b)	Initial Notification/Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Gulfsands Petroleum Plc
b)	LEI	N/A
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Options to subscribe for new ordinary share of 1.0 pence each GB00B06VGC01
b)	Nature of the transaction	Grant of options
c)	Price(s) and volumes(s)	Volume(s) Price(s) 1,000,000 3.375p
d)	Aggregated information	N/A - single transaction
e)	Date of the transaction	11 November 2016
f)	Place of the transaction	Outside of trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Richard Milne
2	Reason for notification
a)	Position / Status	Non-Executive Director
b)	Initial Notification/Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Gulfsands Petroleum Plc
b)	LEI	N/A
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Options to subscribe for new ordinary share of 1.0 pence each GB00B06VGC01
b)	Nature of the transaction	Grant of options
c)	Price(s) and volumes(s)	Volume(s) Price(s) 1,000,000 3.375p
d)	Aggregated information	N/A - single transaction
e)	Date of the transaction	11 November 2016
f)	Place of the transaction	Outside of trading venue