Re Placing

2nd February 2009



                       Gold Oil Plc (AIM: GOO)
                    ("Gold Oil" or the "Company")


The Company announces that in the light of the recent fall in the
Company's share price, following the suspension of testing announced
last Thursday, it has been in discussions with the brokers to the
recently announced placing regarding the settlement of the proceeds
of the placing due to be paid to the Company today.

A further announcement will be made when the position is clearer.
.

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


Michael Burchell  Chairman                 Tel: [phone]
Roland Cornish    Beaumont Cornish Limited Tel: [phone]
Daniel Fox Davies Fox Davies Capital       Tel  [phone]]




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 both onshore and offshore in Colombia and Peru.

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