Significant Shareholding

Gold Oil PLC
06 January 2006





FOR IMMEDIATE RELEASE                                            6 January 2006

                   GOLD OIL PLC ('Gold Oil' or the 'Company')
                                 Shareholdings

The Company was informed that at the close of business on 4th January 2006, Mr
Billy G. Underwood Jr. has reduced his holding by 5,973,733 Ordinary Shares. Mr
Underwood now has a total holding of 15,613,711 Ordinary Shares or 4.52% of the
Company's issued share capital.

ENDS

Enquiries:

Michael Burchell, Chairman                 Tel: [phone]

Roland Cornish, Nominated Adviser          Tel: [phone]
Beaumont Cornish Limited








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