Operational Update

3/2/2009, 11:55 AM (Source: GlobeNewswire)
2nd March 2009
Gold Oil Plc (AIM: GOO)
("Gold Oil" or the "Company")

Operational Update

The Company plans to restart operations in the Rosa Blanca 1 well
within the next two weeks with a work-over rig and continue testing
the existing perforations on the middle zone of the Rosa Blanca
formation and then test one zone at the top of the Rosa Blanca
formation and one in the higher3
Tablazo formation.

In January the testing operations on Rosa Blanca 1 well were
suspended and the rig taken off site with a view to come back into
the well with a lower cost work-over rig and to continue testing the
well. The bottom formation, Tambor, was tested but failed to flow
hydrocarbons from the tight reservoir. The middle Rosa Blanca
formation was tested for only three hours and flowed at a rate of
over 1,000 bbls per day of near fresh water before the decision to
suspend testing operations.

The suspension of testing has given time for the partners to study
the results to date and form an opinion on the best way to continue
testing the well. Last week the Company held a Technical Committee
Meeting (TCM) with the Rosa Blanca partners (Gold Oil Plc Colombia
40%, Lewis Energy Colombia 25%, Osage Exploration and Development 25%
and Empesa 10%) to formulate a forward plan.

The plan is to mobilise a work-over rig before the second week of
March with a planned programme of 10 days. When the well is rentered
we will resume the test of the middle Rosa Blanca formation for at
least twenty-four hours before moving on to test the top zone in the
Rosa Blanca formation. The Company held a Technical Committee
Meeting (TCM) with the Rosa Blanca partners (Gold Oil Plc Colombia
40%, Lewis Energy Colombia 25%, Osage Exploration and Development 25%
and Empesa 10%) last week. After that the top of the Rosa Blanca
formation will be tested before moving up the well to test the
Tablazo formation

The technical information contained in this announcement has been
reviewed and approved by Mike Burchell, B.Sc., member of the SPE and
with over 45 years experience in the oil and gas industry.

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


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 Peru and onshore Colombia.
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