Interim Results

Gold Oil PLC
27 January 2006


FOR IMMEDIATE RELEASE                                          27 January 2006

                          GOLD OIL PLC (the 'Company')

                              INTERIM ANNOUNCEMENT

                              CHAIRMAN'S STATEMENT

OVERVIEW

At the date of the balance sheet the Company had net current assets of
£3,201,000, of which £3,076,000 was in cash.

FINANCIAL OVERVIEW

For the six months to 31 October 2005, a loss of £251,000 has been incurred by
the Company, which on a weighted average equates to a loss of 0.07p per share.
No dividend is being declared.

CASH FLOW AND FUNDING

As stated above, the Company effectively had £3,076,000 cash at 31 October 2005
for acquisitions and routine expenses.

OUTLOOK

A licence for Block XI, renamed Block XXI, has been confirmed by PeruPetro and
thus the company is ordering equipment to allow the first well to commence in
April 2006.

The Board is actively pursuing further opportunities and acquisitions and hope
to report favourable developments in the near future.



Contact: Michael Burchell, Chairman, Gold Oil PLC on 01372 361772
Roland Cornish, Beaumont Cornish Limited on 020 7628 3396


                                  GOLD OIL PLC

                            Profit and Loss Account

                     For the Six Months to 31 October 2005



                   Note   6 Months       8 April 2004         8 April 2004 to 31
                                                                  October 2004
                               to             to                     Unaudited
                        31 October      30 April 2005
                             2005            Audited
                        Unaudited
                            £'000              £'000                     £'000

Turnover                        -                  -                         -

Administration
expenses                     (334)              (383)                     (113)

Operating Loss               (334)              (383)                     (113)

Interest
received                       83                  9                         1

Loss on
ordinary
activities
before
taxation                     (251)              (374)                     (112)

Taxation                        -                  -                         -

Loss on
ordinary
activities
after taxation               (251)              (374)                     (112)

Dividends                       -                  -                         -

Deficit for
the period                   (251)              (374)                    £(112)


Loss per
share: Basic      2         (0.07p)            (0.18p)                   (0.05p)
Diluted                     (0.07p)            (0.15p)                   (0.05p)



The Company's turnover and operating loss arise from continuing operations.

There were no recognised gains or losses other than those recognised in the
profit and loss account above.






                                  GOLD OIL PLC

                      Balance Sheet as at 31 October 2005



                       Note   6 Months       8 April 2004       8 April 2004 to 
                                                                31 October 2004
                                 to             to                    Unaudited
                             31 October     30 April
                               2005           2005
                             Unaudited
                                 £'000        £'000                      £'000
FIXED ASSETS
Equipment                           25           25                          4
Investment in
Northern
Petroleum                          150            -                          -
Exploration
Limited
                                   175           25                          4

CURRENT ASSETS
Debtors                            194           39                          7
Cash at bank
and in hand                      3,076        3,632                        302
                                 3,270        3,671                        309
CREDITORS:
amounts
falling due
within one
year                               (69)        (116)                        (8)

Net current
assets                           3,201        3,555                        301

Total assets
less current
liabilities                      3,376        3,580                        305


CAPITAL AND
RESERVES

Called up
share capital         3             87           86                         59

Share premium
account                          3,906        3,868                        358

Profit and
loss account                      (617)        (374)                      (112)

Equity
shareholders'
funds                           £3,376       £3,580                       £305






                                  GOLD OIL PLC

                              Cash Flow Statement

                     for the Six Months to 31 October 2005


                      Note   6 Months             8 April 2004     8 April 2004
                                to                     to          to 31 October
                                                                       2004
                             31 October 2005    30 April 2005        Unaudited
                                                    Audited
                               Unaudited
                                  £'000                £'000             £'000

Cash outflow from
operating             4            (527)                (306)             (112)
activities

Return on
investment
and servicing of                     83                    9                 1
finance

Purchase of fixed
assets                               (1)                 (25)               (4)

Net investment in
Northern
Petroleum
Exploration                        (150)                   -                 -
Limited

Management of
liquid                                -               (1,800)                -
resources

Financing - Issue
of
shares net of                        39                3,954               417
expenses

Cash(decrease)/
increa                            £(556)              £1,832              £302
se in the period






               Reconciliation of movements in shareholders' funds

                                                  £'000       £'000      £'000

Loss for the period                                (251)       (374)      (112)

New share capital subscribed, net of expenses        39       3,954        417

Exchange movement on overseas net assets              8           -          -
                                                   (204)      3,580        305

Opening shareholders' funds                       3,580           -          -

Closing shareholders' funds                      £3,376      £3,580       £305





                                  GOLD OIL PLC
                          NOTES TO THE INTERIM REPORT


1. Accounting Policies

The interim report has been prepared using accounting policies consistent with
those set out in the company's Annual Report and Accounts for the period ended
30 April 2005. They have been prepared on a going concern basis.

The interim report for the six months to 31 October 2005 was approved by the
Board on 26 January 2006.

2. Loss per Share
                      6 Months to        8 April 2004 to    8 April 2004 to
                      31 October 2005    30 April 2005      31 October 2004
                      Pence              Pence              Pence

Earnings per ordinary
shares - basic                   (0.07p)            (0.18p)            (0.05p)
- diluted                        (0.07p)            (0.15p)            (0.05p)

The loss per ordinary share is based on the Company's loss for the period of
£251,000 (30 April 2005 - £374,000;31 October 2004 - £112,000) and a weighted
average number of shares in issue of 347,766,033 (30 April 2005 - 212,791,361;
31 October 2004 236,750,000).

The potentially dilutive warrants issued were 16,450,723 ( 30 April 2005 -
39,305,624; 31 October 2004 - Nil).

3. Called up Share Capital

On 29 June 2005 and 28 September 2005, 3,750,000 and 100,000 ordinary shares
were issued respectively for 1 pence each on the exercise of warrants.

4. Reconciliation of operating loss to net cash outflow from operating
activities

                               6 Months to       8 April 2004 to   8 April 2004 to
                           31 October 2005      30 April 2005     31 October 2004
                                     £'000             £'000             £'000

Operating loss                        (334)             (383)             (113)

Depreciation                             1                 -                 -
Exchange rate movement on
overseas assets                          8                 -                 -
(Increase) in debtors                 (155)              (39)               (7)
(Decrease)/Increase in
creditors                              (47)              116                 8

Net cash outflow from
operating activities                 £(527)            £(306)            £(112)







                                  GOLD OIL PLC

                          NOTES TO THE INTERIM REPORT


5. Financial information

The information for the year ended 30 April 2005 has been extracted from the
audited accounts for that period which have been delivered to the Registrar of
Companies and received an unqualified audit opinion. The unaudited results for
the six months have been prepared on a basis consistent with the accounting
policies disclosed in the Company's 2005 accounts and do not constitute
statutory accounts within the meaning of Section 240 of the Companies Act 1985.

6. Accounts

Copies of the Interim Report are available for collection at the offices of the
Company, Finsgate, 5-7 Cranwood Street, London EC1V 9EE during normal office
hours.



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