Colombia Operations update -Rosablanca -2 plugg...

31st January 2011
GOLD OIL PLC

                      ("Gold Oil" "Gold" or the "Company")

Colombia Operations update -Rosablanca -2 plugged and abandoned

Gold  Oil,  the  AIM-listed  oil  and  gas  exploration  and production company,
primarily  focused on opportunities in Latin America, makes the following update
on its operations in Colombia.

Rosablanca-2:

Gold  Oil announces that  the Rosablanca-2 well reached  a total depth of 2,883
feet and has now been plugged and abandoned following unsuccessful testing.

Since  entering the  Tablazo and  Rosablanca formations  last week, drilling had
encountered numerous oil and gas shows. Identification of liquid hydrocarbons on
electric  logs led to a decision to undertake two drill stem tests (DST) in both
the  Rosablanca and Tablazo formations. A DST in the Rosablanca Formation failed
to  flow indicating that reservoir to be  tight and non-commercial. A second DST
in the Tablazo Formation flowed formation water only.

Gold   signed an   agreement with   the Colombian  company Montecz  SA, whereby
Montecz  pays  100% of  the  costs  (up  to  US$2million)  of  the Rosablanca-2
well    in   the   Rosablanca  Block  of  the  Middle  Magdalena  Basin  onshore
Colombia. The well is expected to come in under budget. Gold Oil was effectively
free  carried  on  the  exploration  well.  The  joint venture will evaluate the
results  of  this  well  over  the  coming  months  to  determine  the remaining
prospectivity  of  the  Rosablanca  block  and determine what future exploration
activities,  if any, are warranted there. Gold Oil retains a 25% interest in the
permit.


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

Gold Oil Plc
John  Bell  -  Chairman                                                     Tel:
[phone]
Richard Mew - CEO
Tel: [phone]

Seymour Pierce Ltd
Jonathan  Wright  /  Richard  Redmayne                             Tel:  +44 (0)
20 7107 8000







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Source: Gold Oil PLC via Thomson Reuters ONE

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