01-May-08

GOLD OIL plc ('Gold' or 'the Company') Environmental Permit for San Alberto Well, Block XXI

Gold Oil announces that the Company has disposed of its remaining 11.25% of the onshore Ayoleungo oil field in Northern Spain to Leni Gas & Oil plc for EUR 315,211.

For further information, please contact:

GOLD OIL plc
Michael Burchell, Director
Tel: +44 (0) 1372 361 772

Beaumont Cornish Limited
Roland Cornish / Felicity Geidt
Tel: +44 (0) 20 7628 3396