Trading Update

RNS Number : 7162F

Gold Oil PLC

20 June 2012

 



20 June 2012

Gold Oil PLC

("Gold Oil" or "the Company" or "the Group")

Trading update

Gold Oil, (AIM: GOO), an oil and natural gas exploration and exploitation company focused on South America is pleased to announce the following:

Corporate presentation

The Company has uploaded onto its website a presentation covering the Company's assets and activities. This can be downloaded or viewed at:

www.goldoilplc.com/newpress/2012/gold-oil-investor-presentation-june-2012-3.   

Azar Block, Putumayo Basin, Colombia

Gran Tierra Energy, the operator of the Azar Block located in the Putumayo Basin, Colombia, has informed Gold Oil that certain delays have been incurred during the drilling of the La Vega Este -1 well on the block.  As a result, the drilling operations on the well are likely to continue for another two to three weeks.

Block Z34, Peru

As reported in the Company's final results announcement on 7 June, the farm out process of Z34 is continuing with a number of international operators.  The Company hopes to be in a position to provide a more detailed update during the next two months.

Board update

As a consequence of his appointment as interim CEO, announced on 31 May 2012, John Bell has stepped down from the Board's remuneration committee with immediate effect.

For further information, please contact:

Gold Oil PLC                                        

John Bell - Chairman                              Tel (c/o Buchanan): [phone]      

Seymour Pierce Ltd (Nominated Adviser & Joint Broker)

Jonathan Wright/Stewart Dickson             Tel: [phone]

(Corporate Finance)

Richard Redmayne

(Corporate Broking)                  

FirstEnergy Capital LLP (Joint Broker):                                                                                                                 

Hugh Sanderson / Travis Inlow                 Tel: + 44 (0) 20 7448 0200

Buchanan (Financial PR)                     Tel:  + 44 (0) 20 7466 5000      
Tim Thompson/Helen Chan/Ben Romney

Notes to Editors

Gold Oil is an independent oil and natural gas exploration and exploitation company focused on Southern America. Shares in Gold are quoted on the AIM market of the London Stock Exchange (AIM:GOO).

The Company is seeking to maintain a balanced portfolio of high-risk high reward and low risk cash flow projects by establishing significant licence positions concentrated in a few geographic areas. The Company currently has significant acreage and is recognised as an operator for both onshore and offshore Peru, and is an operator with exploration and production licences onshore Colombia.

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