14th January 2009
Gold Oil Plc (AIM: GOO)
("Gold Oil" or the "Company")
Operational Update
Gold Oil is pleased to announce that it was informed today that on
the 26th December 2008 Union Temporal received the final approval for
the Environmental Impact Assessment for the re-entry and work-over of
three Burdine wells. Union Temporal is the owner and Operator of the
Nancy, Burdine and Maxine oil fields located in the Putumayo Basin in
the South of Colombia, in which the Company owns a 58.05% interest.
All equipment necessary for the re-entries and possible work-overs
has been purchased and the only remaining requirements are a low cost
access road and a wire-line unit.
There has been a general strike in the Putumayo Basin area since
before Christmas and the Company is pleased to announce that on
January the 6th normal operations have resumed with the Nancy 1 well
back in production again with at a production rate of 321 bopd.
Now that the Christmas holiday in Colombia is over the Company
expects to start testing the Rosa Blanca-1 well later this week.
Gary Moore, Chief Executive Officer of Gold Oil, said, "The
Environmental approval for the Burdine wells is the culmination of a
project that was started nearly three years ago, and has taken a
great deal of time and effort by Union Temporal to achieve this
approval in a very environmentally sensitive area"
The technical information contained in this announcement has been
reviewed and approved by the Chairman of the board, Michael Burchell,
B.Sc., 68, member of the SPE and with over 46 years experience in the
oil and gas business.
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 in onshore Colombia and both onshore and offshore Peru.
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This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
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