Change of Accounting Reference Date

GOLD OIL PLC

("Gold Oil" or the "Company")

Change of Accounting Reference Date

Gold Oil, the AIM-listed oil and gas exploration and production company, with a primary focus on opportunities in Latin America, announces that it has changed its accounting reference date from 30 April to 31 December with immediate effect.

The Board has taken this decision to align the reporting period to the operations of the business in Peru and Colombia where a 31st December accounting reference date is mandatory.

As a result of the change of accounting reference date, the Company's reporting calendar will be as follows:

·; Unaudited interim results for the 6 months ended 31 October 2011 to be published by 31 January 2012.

·; Audited results for the 8 month period ended 31 December 2011 to be published before 30 June 2012.

Thereafter, interim and annual reports will be published each year, for the 6 months to 30 June and 12 months to 31 December respectively, in accordance with the AIM rules for Companies.

ENDS

For further information on the Company, visit www.goldoilplc.com or contact:

Gold Oil Plc

Richard Mew - CEO Tel: +44 (0) 203 427 5089

Seymour Pierce Ltd (Nomad and Joint Broker):

Jonathan Wright / Stewart Dickson (Corporate Finance) Tel: +44 (0) 20 7107 8000

Richard Redmayne / Jeremy Stephenson (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/Ben Romney/Helen Chan