FOR IMMEDIATE
RELEASE
21th July 2008 at 07.00
GOLD OIL plc
("Gold" or the "Company"; AIM Ticker: (GOO))
Drilling commences on second well on Block XXI, onshore Peru
Gold Oil, the AIM listed oil and gas explorer and producer with
assets in Colombia and
Peru, today announces that the spudding of well SA-2X commenced over
the weekend.
Well SA-2X, Block XXI, Onshore Peru
Drilling is expected to reach a target depth of 5,200 feet and take
approximately one month to complete.
Block XXI was acquired as a high risk-high reward block but the
results of SA-1X and recent geophysical work reduces the risks for
this well but there is still a large exploration upside associated
with the well and the rest of the block..
Gary Moore, CEO of Gold Oil, commented today, "the Board is excited
to begin the next phase of drilling. We look forward to keeping the
market informed of developments."
The technical information contained in this announcement has been
reviewed and approved by Mike Burchell, B.Sc., member of the SPE and
with over 45 years experience in the oil and gas industry.
For further information:
Gold oil plc
Michael Burchell,
Director Tel:
+44 (0) 1372 361 772
Beaumont Cornish Limited
Roland
Cornish
Tel: +44 (0) 20 7628 3396
Blue Oar Securities
Jerry
Keen
Tel: +44 (0) 20 7447 4492
Conduit PR
Jonathan Charles/Ed Portman
Tel: +44 (0) 20 7492 6611
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