Re Placing

2/2/2009, 10:30 AM (Source: GlobeNewswire)
2nd February 2009

Gold Oil Plc (AIM: GOO)
("Gold Oil" or the "Company")

The Company announces that in the light of the recent fall in the
Company's share price, following the suspension of testing announced
last Thursday, it has been in discussions with the brokers to the
recently announced placing regarding the settlement of the proceeds
of the placing due to be paid to the Company today.

A further announcement will be made when the position is clearer.

For further information on the Company, visit: or

Michael Burchell Chairman Tel: 01372 361 772
Roland Cornish Beaumont Cornish Limited Tel: 020 7628 3396
Daniel Fox Davies Fox Davies Capital Tel 020 7936 5230]

Notes to 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 Colombia and Peru.
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