Operational Update: Colombia

24 September 2009
                                                            For
immediate release
Gold Oil plc

                    Operational Update: Colombia

Gold Oil plc  ("Gold" or "the  Company") is pleased  to announce  the
following operational updates for its Blocks Rosa Blanca and Azar  in
Colombia.

Gold is in the process  of initiating the acquisition  of a 60 km  2D
seismic survey  in the  southern portion  of the  Rosa Blanca  Block,
located in the prolific Middle Magdalena Basin.

The seismic program  will give additional  structural information  on
the structure  tested by  the  RB-1 well  which, when  combined  with
former seismic lines, rock samples and logs gathered from well  RB-1,
could confirm structural and  stratigraphic conditions for  potential
hydrocarbon  deposits  as  well  as  explain  and  help  the  Company
understand why the recently drilled RB-1, which had hydrocarbon shows
in cuttings and in the e-logs, but only tested water.

Prospective leads are identified to the south of well RB-1.  The  new
seismic and G&G studies  may confirm that  this southern lead  enters
into the VMM1 Block to the south, owned and operated by Lewis  Energy
Colombia.  Interpretation of new seismic lines should be available by
the end of November.

Gold is also pleased to announce that its former partners in the Rosa
Blanca  Block   (Lewis  Energy   Colombia,  Osage   Exploration   and
Development Inc. and  Empesa SA)  have signed an  agreement in  which
Gold recovers the  interest formerly  farmed out to  Osage and  takes
over the operatorship of the Block.  Gold now has a 90% interest  and
Empesa the remaining 10%.  Lewis Energy, which owns and operates  the
neighboring block to the  south, VMM1, has an  option to reenter  the
Rosa Blanca Block for  a 25% interest  after the seismic  acquisition
subject to paying back some of the past costs.

With regard to the  Azar project in which  Gold holds a 20%  interest
(Gran  Tierra  40%  and  operator,  Lewis  Energy  40%)  the  Company
announces that the 2D seismic program with 4 lines with a total of 51
kms has been  successfully acquired.  Processing  has been  completed
and interpretation will start immediately.

Furthermore the 3D 50km2 seismic program was completed last week  and
data (SEG-D) will now be sent  for processing.  Data should be  ready
for interpretation by end of October this year.

With the  fulfillment  of both  seismic  programs the  partners  have
fulfilled the  work  program  for this  third  exploration  phase  as
required under the ANH contract. The next exploration phase,  fourth,
of the Azar contract commences in November 2009 and the minimum  work
program includes one exploration well,  which the partners expect  to
drill in Q2 2010.

The program to test the Burdine wells is continuing and a strategy to
put at least one of the wells on production is being evaluated.

The Chairman of Gold, Mark Pritchard, commented that "it is certainly
good news for Gold to have the opportunity at zero additional cost to
acquire a  seismic program  which will  give new  information on  the
prospectivity of  the Rosa  Blanca Block.  We are  pleased to  retain
Empesa as partners  on the  licence and welcome  the opportunity  for
Lewis Energy to partner with us in the future.  I am also  encouraged
by the  progress  of the  seismic  programme  on Azar  as  with  both
recently acquired seismic surveys the G&G information on Azar will be
very detailed and  this combined with  the information and  knowledge
that Gran Tierra has  from its main producing  assets located to  the
west of Azar we should have a  higher probability of success for  the
next main event on this block, which is an exploration well in 2010".

The technical  information contained  in this  announcement has  been
reviewed and approved by Mike Burchell, B.Sc., 69, member of the  SPE
and with over 47 years experience in the oil and gas business.

Notes for 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.

The Rosa Blanca Block covers an area of approximately 45,000 hectares
and is surrounded by the  nearby oil producing fields of  Cristalina,
Santa Lucia,  Tisquirania, Totumal,  Baturama and  the South  Bolivar
Block.

The petroleum system within the Rosa Blanca Block has been proved  in
nearby oil  wells  and  fields  which  reduces  the  geological  risk
significantly. Gold  believes  that  the presence  of  the  fractured
reservoir zones within  the reservoir  rock is  the main  operational
risk. Gold's clear objective is  to find another Buturama oil  field,
which by analogy, could give reserves of up to 30 MM STB and  initial
production rates of 1,200 BOPD of 35 API gravity oil.

The Azar Block, which  is located to the  northeast of the  Company's
existing Nancy, Burdine and Maxine oil fields and immediately to  the
east of the Guayoyaco Block in which the Juanambu discovery well  was
drilled in  November  2007  with  a flow  rate  of  1,410  bopd.  The
Guayoyaco Block is operated by Gran Tierra Energy (TSX: GTE), who  is
also the operator and 40% interest holder in the Azar Block.

The licence for the Azar Block was granted by Colombia's hydrocarbons
agency ANH in October 2006 for an area of 51,630 Ha (or  516.3sq.km).
The term of the licence  is for a period of  24 years and includes  a
royalty payable  to the  ANH of  between 8%  and 25%  depending  upon
levels of production. The oil and gas terms in Colombia are currently
one of the most favourable in Latin America.

About Osage Exploration and Development, Inc.
Based in San  Diego, California with  production offices in  Oklahoma
City, Oklahoma,  and executive  offices  in Bogota,  Colombia,  Osage
Exploration and Development, Inc.  is an independent exploration  and
production company with interests in the USA and Colombia.

About Lewis Energy Colombia
Lewis Energy Colombia is a subsidiary of Lewis Energy that is engaged
in  oil  and  gas  exploration,  development,  production,  pipeline,
drilling and production services in Texas and Latin America.

About EMPESA, SA
Compania Petrolera  de  Servicios  y Acesorias  S.A.  (EMPESA)  is  a
multi-disciplinary group of professionals with wide experience in the
petroleum industry in  Colombia.  EMPESA executes  well design,  well
planning, drilling programs, and engineering/geosciences studies  for
customers in  Colombia such  as  Occidental, Lukoil,  Gulfsands,  and
Ecopetrol.

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

Gold Oil

Mark Pritchard, Chairman                                        Tel:
0208 332 6882

Seymour Pierce
Jonathan Wright / Richard Redmayne                    Tel:  [phone]
8000

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