BOIL.L Regulatory News (BOIL)

21 Apr 2006 13:02

Gold Oil PLC21 April 2006 FOR IMMEDIATE RELEASE 21st April 2006 GOLD OIL'S EXPLORATION AND PRODUCTION LICENCE FOR BLOCK XXI, GETS APPROVAL BY MINISTRY OF ENERGY AND MINES Gold Oil Plc ("Gold Oil" or the "Company"), the London-based oil explorationcompany, announces that on Thursday, 20th April 2006, in the Government Gazette,that the Ministry of Energy and Mines approved the Exploration and ProductionLicence entered into between Gold Oil and PeruPetro (the State Oil company ofPeru), for Block XXI, onshore Peru and announced on 13 January 2006. Gold Oil initialized the contract with PeruPetro in December 2005 and. approvalby the Ministry of Energy and Mines now allows the Company to commence drillingon Block XXI. All equipment for the first well, San Alberto 1X, has been orderedand Gold expects to finalise an agreement with a Peruvian drilling contractor tospud San Alberto-1X at the beginning of June at an AFE cost of US$1.3 million. Colombia Block 21 The Company is pleased to announce that preparation work is progressing well onthe Nancy-3 wellsite and that the operator expects to start workover operationsaround 5th May Enquiries: Gary Moore Operations Director Tel: +44 (0)1737833597 Email: gmoore@goldoilplc.com Mike Burchell Chairman Tel. +44 (0) 1372361772 Email: mikeburchell@hotmail.com Roland Cornish Beaumont Cornish Limited Tel: 020 7628 3396. This information is provided by RNS The company news service from the London Stock Exchange