Formal Licence Signing

5 May 2006 13:20

Gold Oil PLC05 May 2006 FOR IMMEDIATE RELEASE 5 May 2006 GOLD OIL PLC ANNOUNCES THE FORMAL SIGNING OF ITS BLOCK XXI LICENCE Following from the Presidential and Ministry of Energy and Mines approval of theGold Oil's Block XXI Licence, the award of the Licence was formally gazetted onthe 20th of April 2006. On 4th May 2006, Gold Oil formally accepted the terms of the Licence by signingthe Licence at a ceremony in Lima, chaired by the Minister of Energy and Mines. Speaking after the ceremony, Gary Moore, Managing Director of Gold Oil PLC, saidthat the terms of the licence and the long term attraction of Peru for theexploration and development of oil and gas meant that the signing has confirmedour commitment for immediate exploration on Block XXI. Enquiries: Gary Moore, Operations Director on +44 (0)173 7833597Email: gmoore@goldoilplc.com Mike Burchell, Chairman on +44 (0)1372 361772Email: mikeburchell@hotmail.com Roland Cornish, Beamont Cornish Limited on 020 7628 3396. This information is provided by RNS The company news service from the London Stock Exchange