NPEL Completion

30 Jan 2006 12:08

Gold Oil PLC30 January 2006 FOR IMMEDIATE RELEASE 30 January 2006 GOLD OIL PLC ("Gold Oil" or the "Company") Update on NPEL Gold Oil announces the completion of its purchase of Northern PetroleumExploration Limited ("NPEL"), from Northern Petroleum Plc and sale of 50% of thesame company to a subsidiary of Ascent Resources Plc ("Ascent"). NEPL is theOperator and 22.5% equity interest holder in the La Lora concession in NorthernSpain. The La Lora concession contains the Ayoluengo field that hasbeen producing at a rate of approximately 120 bopd over the last year. It is theintention of the Ayoluengo partners to rework existing wells to increaseproduction in the field at the earliest opportunity. Contact: Gary Moore, Managing Director on 01737 833597Michael Burchell, Chairman on 01372 361772Roland Cornish, Beaumont Cornish Limited on 020 7628 3396. This information is provided by RNS The company news service from the London Stock Exchange