Share Placing

FOR IMMEDIATE
RELEASE
22 January 2009


                            GOLD OIL plc
                    ('Gold Oil' or 'the Company')
                          Placing of Shares

Gold Oil plc (the 'Company') announces that a total of 16,125,000 new
ordinary shares of the Company (the 'Placing Shares') have been
placed with institutions at a price of 4 pence per Placing Share,
raising £645,000 before expenses.

 The net proceeds of the placing will go towards the Burdine oil
field development. In addition the company is in the process of
increasing activity across the portfolio of assets, as outlined in
recent operational updates.

Application for the new ordinary shares, which will rank, pari passu,
with all existing ordinary shares has been made to the London Stock
Exchange for trading on AIM.  Admission is expected on or around 28
January 2009.

Following the issue of the Placing Shares, Gold Oil's issued share
capital will consist of 499,253,909 ordinary shares of 0.025 p each.
The Company does not hold any Ordinary Shares in Treasury. Therefore
the total number of Ordinary Shares in the Company with voting rights
is 499,253,909.

The above figure of 499,253,909 Ordinary Shares may be used by
shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change to their interest in, the share capital of
the Company under the Financial Service Authority's Disclosure and
Transparency Rules.

Gary Moore the CEO commented "We are very pleased with the level of
Institutional support shown in the Company and look forward to
updating shareholders on the development of the Burdine oil field and
our other activities including the results of the testing of the Rosa
Blanca well 1".

For further information, please contact:

Michael Burchell, Chairman 01372 361 772

Roland Cornish, Beaumont Cornish Limited 020 7628 3396

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