Operations Update

9th June 2009 Gold Oil plc Operational Update Colombia & Peru Gold Oil plc ("Gold" or "the Company") is pleased to announce an operational update for its business units in Colombia and Peru: Azar Block Colombia: All permits for the 42 km of 2D Seismic and the 53 sq. km of 3D Seismic survey have finally been granted and the operator of the block (Gran Tierra Energy) is expected to start the acquisition of the 3D in mid-June. Gold has a 20% interest in the Azar Block, which is located to the northeast of the Company's existing Nancy, Burdine and Maxine oil fields and immediately to the east of the Guayoyaco Block in which the Juanambu discovery well tested at a flow rate of 1,410 bopd. The Guayoyaco Block is also operated by Gran Tierra Energy. The licence for the Azar Block was granted by Colombia's hydrocarbons agency ANH in October 2006 for an area of 51,630 Ha (or 516.3sq.km). The term of the licence is for a period of 24 years and includes a royalty payable to ANH of between 8% and 25%, depending upon levels of production. The oil and gas terms in Colombia are currently some of the most favourable in Latin America. Nancy Burdine Maxine Block Colombia: On 1 June 2009, the Company took over the operation of the Nancy Burdine Maxine field. The Company has now started the long expected process of increasing production from these fields. A slick-line unit was moved into the area of operations and the down-hole completions of Burdine 1, 4 & 5 were checked and found to be in satisfactory condition which will allow the reactivation of the wells. In July, the Company expects to start a 5 day production test on each of the Burdine wells as the first step towards deciding which of the Burdine wells will be worked over and put on long term production. The total estimated remaining P1 (Proved) reserves in Nancy-1 as of July 2008 were 184,306 barrels of oil. It is estimated that, without stimulation, 2009 total production will reach 82,706 barrels and gross revenues will reach US$3.3million, US$0.8 million net to Gold (based on an average price of US$40/barrel). Rosa Blanca Block Colombia: The Rosa Blanca operating group, in which Gold Oil has a 40% stake, is now well into the process of defining the second phase exploration program which is a 60 km 2D seismic acquisition over the previously indentified prospects of the 45,000ha concession. Block Z34 & Block XXI Peru: PeruPetro has granted the Company a 6 month extension which gives the Company enough time to process and interpret the recently acquired 2,013kms 2D seismic. The Company has started the extension of its EIA studies for the 3D survey in block Z34 which is the commitment for phase 2 of the exploration contract and for the 2D seismic programme which is planned for phase 3 of the exploration contract on Block XXI. Mark Pritchard, Chairman of Gold Oil said, "It is very encouraging to be able report considerable progress across all of the Company's assets." For further information on the Company, visit www.goldoilplc.com or contact: Gold Oil Mark Pritchard, Chairman Tel: 020 8332 6882 Seymour Pierce Jonathan Wright / Richard Redmayne Tel: 020 7107 8000 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 Peru and onshore Colombia. The Nancy, Burdine and Maxine fields were discovered by Texaco and put on stream in 1976. The Nancy-1 well produced initially 1,400 bopd, the well production then declined to approximately 200 bopd by 1995 when the well was abandoned. The fields were returned to Ecopetrol who licensed them to a group of local oil and services companies ("the Union Temporal") in 2003. On March 2006, Gold farmed into the licence through Union Temporal. The partners in this block are Ecopetrol (41%) and Union Temporal (59%). Union Temporal is formed by 5 companies: Gold (58.05%), Termotécnica (18.05%), Ingeniería y Servicios Petroleros Ltda. (18.05%), Bioss (2.84%) and Víctor Hugo Franco (3%). ---END OF MESSAGE--- This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.