Gold Oil PLC is a newly-incorporated company that has been established in order to identify and acquire projects in the oil and gas sector, with particular emphasis on Latin America, and initially focused on Peru. Such projects may be acquired through direct investment, or by acquiring all or part of an existing or newly-formed company or business.

The Company initially faced limited competition, as there were few North American or European oil and gas companies operating in Northern Western Peru. However, in other areas, notably the basins to the east of the Andes, this has been changing rapidly as more and more companies see the opportunities available and respond to the terms offered by Peru. There are now few areas left in Peru and Colombia is being invaded daily by US, Canadian and Australian  companies hungry for open acreage. The Executive Management has spent the last twelve (12) years working in the region, and believes that they have the contacts and local knowledge to capture and exploit economically attractive opportunities.

The Directors believe that their broad collective experience in the area of mergers and acquisitions and corporate and financial management in relation to small and medium sized businesses will assist them in the identification and evaluation of acquisition opportunities.

Highlights

• A very significant entry position established in Peru and Colombia.
• Producing reserves in Colombia, Nancy, now 58.05% and Operator. Azar development underway
• In Peru, Block XXI Licence approved and two exploration wells spudded.
• In Peru, Block Z-34 Licence approved and the Environmental Impact Assessment approved. Now 100% interest with Plectrum bought out.
• An agreement with MAN Ferrostaal of Germany for a major petrochemical development in Peru.
• A 24.67% interest in Minmet Plc acquired and disposed off with proceeds of £2.631MM.
• Rosa Blanca ready to spud before end of December 2008
• Qualified as Onshore and Offshore Operator in Cuba