Date: 24 Sep 2009

Gold Oil plc  (’Gold’ or ‘the  Company’) is pleased  to announce  the following operational updates for its Blocks Rosa Blanca and Azar  in Colombia.

Gold is in the process  of initiating the acquisition  of a 60 km  2D seismic survey  in the  southern portion  of the  Rosa Blanca  Block, located in the prolific Middle Magdalena Basin.

The seismic program  will give additional  structural information  on the structure  tested by  the  RB-1 well  which, when  combined  with former seismic lines, rock samples and logs gathered from well  RB-1, could confirm structural and  stratigraphic conditions for  potential hydrocarbon  deposits  as  well  as  explain  and  help  the  Company
understand why the recently drilled RB-1, which had hydrocarbon shows in cuttings and in the e-logs, but only tested water.

Prospective leads are identified to the south of well RB-1.  The  new seismic and G&G studies  may confirm that  this southern lead  enters into the VMM1 Block to the south, owned and operated by Lewis  Energy Colombia.  Interpretation of new seismic lines should be available by the end of November.

Gold is also pleased to announce that its former partners in the Rosa Blanca  Block   (Lewis  Energy   Colombia,  Osage   Exploration   and Development Inc. and  Empesa SA)  have signed an  agreement in  which Gold recovers the  interest formerly  farmed out to  Osage and  takes over the operatorship of the Block.  Gold now has a 90% interest  and Empesa the remaining 10%.  Lewis Energy, which owns and operates  the neighboring block to the  south, VMM1, has an  option to reenter  the Rosa Blanca Block for  a 25% interest  after the seismic  acquisition subject to paying back some of the past costs.

With regard to the  Azar project in which  Gold holds a 20%  interest (Gran  Tierra  40%  and  operator,  Lewis  Energy  40%)  the  Company announces that the 2D seismic program with 4 lines with a total of 51 kms has been  successfully acquired.  Processing  has been  completed and interpretation will start immediately.

Furthermore the 3D 50km2 seismic program was completed last week  and data (SEG-D) will now be sent  for  processing.  Data should be  ready for interpretation by end of October this year.

With the  fulfillment  of both  seismic  programs the  partners  have fulfilled the  work  program  for this  third  exploration  phase  as required under the ANH contract. The next exploration phase,  fourth, of the Azar contract commences in November 2009 and the minimum  work program includes one exploration well,  which the partners expect  to drill in Q2 2010.

The program to test the Burdine wells is continuing and a strategy to put at least one of the wells on production is being evaluated.

The Chairman of Gold, Mark Pritchard, commented that ‘it is certainly good news for Gold to have the opportunity at zero additional cost to acquire a  seismic program  which will  give new  information on  the prospectivity of  the Rosa  Blanca Block.  We are  pleased to  retain Empesa as partners  on the  licence and welcome  the opportunity  for Lewis Energy to partner with us in the future.  I am also  encouraged by the  progress  of the  seismic  programme  on Azar  as  with  both recently acquired seismic surveys the G&G information on Azar will be very detailed and  this combined with  the information and  knowledge that Gran Tierra has  from its main producing  assets located to  the west of Azar we should have a  higher probability of success for  the next main event on this block, which is an exploration well in 2010′.

The technical  information contained  in this  announcement has  been reviewed and approved by Mike Burchell, B.Sc., 69, member of the  SPE and with over 47 years experience in the oil and gas business.

Notes for Editors

Gold Oil  is an AIM-listed  oil and  gas exploration  and  production company primarily focused on opportunities in Latin America.   It has oil production  in Colombia and  significant exploration  acreage and licences both onshore and offshore in Peru and onshore Colombia.

The Rosa Blanca Block covers an area of approximately 45,000 hectares and is surrounded by the  nearby oil producing fields of  Cristalina, Santa Lucia,  Tisquirania, Totumal,  Baturama and  the South  Bolivar Block.

The petroleum system within the Rosa Blanca Block has been proved  in nearby oil  wells  and  fields  which  reduces  the  geological  risk significantly. Gold  believes  that  the presence  of  the  fractured reservoir zones within  the reservoir  rock is  the main  operational  risk. Gold’s clear objective is  to find another Buturama oil  field, which by analogy, could give reserves of up to 30 MM STB and  initial production rates of 1,200 BOPD of 35 API gravity oil.

The Azar Block, which  is located to the  northeast of the  Company’s existing Nancy, Burdine and Maxine oil fields and immediately to  the east of the Guayoyaco Block in which the Juanambu discovery well  was drilled in  November  2007  with  a flow  rate  of  1,410  bopd.  The Guayoyaco Block is operated by Gran Tierra Energy (TSX: GTE), who  is
also the operator and 40% interest holder in the Azar Block.

The licence for the Azar Block was granted by Colombia’s hydrocarbons agency ANH in October 2006 for an area of 51,630 Ha (or  516.3sq.km). The term of the licence  is for a period of  24 years and includes  a royalty payable  to the  ANH of  between 8%  and 25%  depending  upon levels of production. The oil and gas terms in Colombia are currently
one of the most favourable in Latin America.

About Osage Exploration and Development, Inc. Based in San  Diego, California with  production offices in  Oklahoma
City, Oklahoma,  and executive  offices  in Bogota,  Colombia,  Osage Exploration and Development, Inc.  is an  independent exploration  and production company with interests in the USA and Colombia.

About Lewis Energy Colombia Lewis Energy Colombia is a subsidiary of Lewis Energy that is engaged in  oil  and  gas  exploration,  development,  production,  pipeline, drilling and production services in Texas and Latin America.

About EMPESA, SA
Compania Petrolera  de  Servicios  y Acesorias  S.A.  (EMPESA)  is  a multi-disciplinary group of professionals with wide experience in the petroleum industry in  Colombia.  EMPESA executes  well design,  well planning, drilling programs, and engineering/geosciences studies  for customers in  Colombia such  as  Occidental, Lukoil,  Gulfsands,  and Ecopetrol.

For further information on the Company, visit www.goldoilplc.com or contact:

Gold Oil
Mark Pritchard, Chairman                                        Tel: 0208 332 6882

Seymour Pierce
Jonathan Wright / Richard Redmayne                    Tel:  020  7107 8000

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