Grant of Options and Issue of Equity

GOLD OIL plc
                         ("Gold Oil" or "the Company")
                      Grant of Options and Issue of Equity
The  Company announces  that it  has granted  a three  year option  to Mr Thomas
Tidow,  a director of the  Company to subscribe for  4 miliion new shares in the
Company  at a price of 4 pence  per shares and a three  year option to Mr Carlos
Gaviria,  country manager in Colombia, to  subscribe for 3 million new shares in
the Company also at a price of 4 pence per share.
In  addition 328,850 new shares  in the Company  are to be  issued to Mr Alberto
Arispe  for  the  provision  of  his  services  as  geologist  to  the Company.
Application  has been made for these shares to be admitted to trading on AIM and
admission is expected to occur on 23 February 2010.
Following this issue of shares, Gold Oil has 501,086,609 ordinary shares in
issue with an equivalent number of voting rights.
The above voting figure may be used by shareholders as the denominator for the
calculations by which they will determine whether they are required to notify
their interests in, or change to their interest in, the Company under the FSA's
Disclosure and Transparency Rules.

For further information on the Company, visit www.goldoilplc.com  or contact:
Gold Oil
Mark Pritchard, Chairman                                         Tel:
020 8332 6882
 Seymour Pierce

Jonathan Wright / Richard Redmayne                    Tel:  020  7107 8000



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