Takeover approach

FOR IMMEDIATE RELEASE
16 September 2008
Gold Oil plc
("Gold" or the "Company")
Takeover approach

The Board of Gold announces that it has received an approach from a
third party that may lead to an offer being made for the Company (the
"Approach"). The Approach is preliminary in nature and there can be
no certainty that an offer will ultimately be forthcoming.

In relation to this announcement, shareholders are advised to take no
action in relation to their shareholdings in the Company. A further
announcement will be made in due course as appropriate.

The following information is provided in accordance with Rule 2.10
("Rule 2.10") of the Takeovers Code (the "Code").

Relevant Securities in Issue

The Company confirms that it has 480,853,909 Ordinary Shares of 0.025
p each ("Ordinary Shares") in issue at the close of business on 15
September 2008 and the Ordinary Shares in the Company are admitted to
trading on AIM under the UK ISIN code GB00B01QGH57.

In addition, the Company has in issue 20,000,000 warrants, each with
the right to subscribe for an Ordinary Share at a price of 9p per
share.

Dealing Disclosure Requirements

Under the provisions of Rule 8.3 of the Code, if any  person is, or
becomes, "interested" (directly or indirectly) in 1% or more of  any
class of "relevant securities" of Gold, all "dealings" in any
"relevant securities" of that company (including by means of an
option in respect of, or a derivative referenced to, any such
"relevant securities") must be publicly disclosed by no later than
3.30 pm (London time) on the London business day following the date
of the relevant transaction. This requirement will continue until the
date on which the offer becomes, or is  declared, unconditional as to
acceptances, lapses or is otherwise withdrawn or  on which the "offer
period" otherwise ends. If two or more persons act together pursuant
to an agreement or understanding, whether formal or informal, to
acquire an "interest" in "relevant securities" of the offeror or
Gold, they will be deemed to be a single person for the purpose of
Rule 8.3.

Under the provisions of Rule 8.1 of the Code, all "dealings" in
"relevant securities" by the offeror or Gold by the offeror or Gold,
or by any of their respective "associates", must be disclosed by no
later than 12.00 noon (London time) on the London business day
following the date of the relevant transaction. A disclosure table,
giving details of the companies in whose "relevant securities"
"dealings" should be disclosed, and the number of such securities in
issue, can be found on the Takeover Panel's website at
www.thetakeoverpanel.org.uk.

"Interests in securities" arise, in summary, when a person has long
economic exposure, whether conditional or absolute, to changes in the
price of securities. In particular, a person will be treated as
having an "interest" by virtue of the ownership or control of
securities, or by virtue of any option in respect of, or derivative
referenced to, securities. Terms in quotation marks are defined in
the Code, which can also be found on the Panel's website. If you are
in any doubt as to whether or not you are required to disclose a
"dealing" under Rule 8, you should consult the Panel.

ENDS

Enquiries:


GOLD  OIL  PLC
Michael Burchell         Tel [phone]



Beaumont Cornish Limited
Roland Cornish           Tel: [phone]

Blue Oar Securities      Tel: [phone]
Jerry Keen

Conduit PR               Tel: [phone]
Jonathan Charles

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