BOIL.L Regulatory News (BOIL)

13 Apr 2006 10:32

Gold Oil PLC13 April 2006 FOR IMMEDIATE RELEASE 13 April 2006 GOLD OIL SIGNS A CO-OPERATION AGREEMENT WITH A STRATEGIC PARTNER IN BRAZIL Brazil Co-Operation Agreement The Company is pleased to announce that it has signed a Co-operation Agreementwith Proen Engenharia e Manutencao of Brazil, whereby Gold will act as Operatorin a 50/50 joint venture. All investments will be by mutual agreement. The companies will pursue amongst other things, onshore oil and gas propertiespreviously operated by Petrobras that are now being licenced to small companiesin licencing rounds, the next one being in early May this year. Proen is anengineering contractor servicing the oil and gas industry in the whole of Brazilwith over 700 employees. Commenting on today's announcement, Gary Moore, Operations Director of Gold Oil,stated: "We have been looking for a local partner for some time as we like theopportunities available in Brazil. Our partners are very familiar with workingin the oil and gas sector in Brazil and have extensive contacts andrelationships that will enhance the acquisition of low risk oil and gas projectsin Brazil." 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