Baron Oil Regulatory News (BOIL)

29 June 2012

Gold Oil PLC

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

Result of AGM and Suspension of Trading

At the Annual General Meeting of the Company held today, John Bell (Chairman), Ian Reid (Exploration Director) and John Charlton and Guy Cowan (Non-executive Directors) were not re-appointed to the Board.

Two further proposed directors, Rudolph Berends and Camilo Merendoni, were not appointed as directors at the AGM.

Resolutions 8 and 9 were not put to the meeting.

Following the meeting, the Gold Oil board consists of Julian Garcia as the sole executive director. This is not considered appropriate for the Company's current needs as a company admitted to trading on a UK public market. Accordingly, at the request of the Company, trading in the ordinary shares in the capital of the Company has been suspended on the AIM Market of the LondonStock Exchange pending the appointment of additional board members.

Further announcements will be made in due course.

For further information, please contact:

Seymour Pierce Ltd (Nominated Adviser & Joint Broker)

Jonathan Wright Tel: +44 (0) 207 107 8000

(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.