Gold Oil Plc Investor Presentation

February 2012

Important Notice

• This document (“Presentation”) and the information contained in it have been prepared by Gold Oil Plc (the “Company”) This document and the information contained in it is solely the responsibility of the Company and its directors.

• The information in this Presentation, which includes certain information drawn from public sources, does not purport to be comprehensive, and has not been independently verified and is liable to change. The date of this Presentation is 15 February 2012.

• This Presentation and the information contained herein does not constitute or form any part of an offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe or otherwise acquire, any ordinary shares in the Company in any jurisdiction where such offer, invitation or solicitation may not be lawfully made.

• This Presentation is being supplied to recipients solely for their information and at their request and may not be reproduced or redistributed, in whole or in part, to any other person, or published, in whole or in part, for any purpose.

• Neither this Presentation nor any copy of this Presentation and the information contained therein should be distributed by recipients and, in particular, should not be:-(a) distributed to persons with addresses in Japan, Australia, South Africa or the Republic of Ireland, their territories or possessions, or in any other country outside the United Kingdom; or(b) distributed to within the United States of America (“United States”); or(c) distributed to any individual outside Australia or Japan who is resident thereof in any such case for the purpose of offer for sale or solicitation or invitation to buy or subscribe any securities in the context where its distribution may be construed as such offer, solicitation or invitation, in any such case except in compliance with any applicable exemption. The distribution of this document in or to persons subject to other jurisdictions may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe the laws of any such jurisdictions. Any failure to comply with these restrictions may constitute a violation of the laws of the relevant jurisdiction.

• This Presentation is being solely issued to and directed at persons in the United Kingdom who are “qualified investors” within the meaning of Article 2(1)(e) of the Prospectus Directive (Directive 2003/71/EC) that (i) have professional experience in matters relating to investments and who are investment professionals as specified in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Financial Promotions Order”); or (ii) fall within Articles 49(2)(a) to (d) of the Financial Promotions Order; or (iii) fall within other applicable exemptions under the Financial Promotions Order (“Exempt Persons”). This Presentation is therefore exempt from the general restriction on the communication of invitations or inducements to enter into investment activity and has not been approved by an authorised person, as would otherwise be required by section 21 of the Financial Services and Markets Act 2000. Any investment to which this Presentation relates is available to (and any investment activity to which it relates will be engaged with) only Exempt Persons. Persons other than Exempt Persons should not take any action nor rely upon this Presentation, should return this Presentation immediately to the Company and should not stay for the remainder of the Presentation.

• The Company’s securities have not been, nor will they be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”). The Company does not intend to register any portion of the offering in the United States or to conduct a public offering of any securities in the United States. This document and its contents may not be viewed by persons within the United States (within the meaning of Regulation S under the Securities Act) other than institutional "accredited investors" that meet the criteria set forth in Rule 501(a) (1), (2), (3) or (7) under the U.S. Securities Act (“IAIs”). The securities may not be offered or sold in the United States except to IAI's in reliance on an exemption from, or transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws.

• The Company's securities are being offered for sale only on a "private placement" basis in certain jurisdictions of Canada only to persons that are an "accredited investor" as such term is defined in National Instrument 45-106 Prospectus and Registration Exemptions promulgated under Canadian securities legislation ("Accredited Investors") and the sale and delivery of the Company's securities to such persons is conditional upon such sale being exempt from the applicable requirements as to the filing of a prospectus.

• By staying for the remainder of this Presentation, each person is deemed to confirm, warrant and represent that they are an Exempt Person, an IAI or an Accredited Investor, as applicable, and accept all the terms and conditions set out in this notice.

• Statements in this Presentation regarding the Company’s or its management’s intentions, beliefs or expectations, or that otherwise speak to future events, are “forward-looking statements”. Forward-looking statements may be identified by terminology including “could”, “may”, “will”, “should”, “expect”, “plan”, “except”, “project”, “estimate”, “predict”, “anticipate”, “believes”, “intends” and the negative of these terms or other comparable terminology. Such statements are based on the Company’s current expectations and involve a number of risks, uncertainties and assumptions and should not be considered as guarantees of future performance. These statements include, without limitation, statements about the Company’s market opportunity, growth strategy, competition, expected exploration and development activities, future acquisitions and investments, the adequacy of the Company’s available cash resources and the availability of future cash resources. Future results and developments discussed in these statements (and in particular, but without limitation, on slide 14 of this Presentation) may also be affected by numerous factors and risks beyond the Company’s control, including political or economic conditions in areas where the Company operates, trade and regulatory matters, general economic conditions (including currency and commodity prices), and other factors and risks. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company does not undertake to update, revise or correct any of the forward-looking information.

• Statements in this Presentation relating to reserves and resources have been prepared by the Company based on internal management estimates, and are not required to be prepared in accordance with any applicable reporting standards in the United States or Canada (including, without limitation, National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities or the Canadian Oil and Gas Evaluation Handbook). Ian Reid, the Company’s Exploration Director and a trained Petroleum Geologist, is a qualified person for the purposes of the AIM Rules for Companies and the AIM Note for Mining and Oil & Gas Companies. Mr Reid has reviewed and approved the technical disclosures contained in this Presentation.

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Introduction

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Key Statistics

AIM Company Ticker:Shares in issue:Market Price (13 Feb 2012):Market Cap: Cash & Equivalents :Debt (short term loans):

GOO891m2.80p£25m£3m£0.0m

Shareholder Shares %

Mr. Iraj Parvisi 143,279,823 16.1

Sheer Energy (Mr. John Bell) 142,511,810 16.0

Lynchwood Nominees 55,812,164 6.3

Mr. Mark Pritchard 42,500,000 4.8

Bank of New York Nominees 35,000,000 3.9

Further approx.1,350 holders 472,409,228 52.9

Total 891,513,025 100

Major Shareholders

Highlights

• Gold Oil is a junior E&P company with a strategic focus on South America; it was floated in 2004 on AIM

• Focused on balanced mix of low risk appraisal and development assets and high impact exploration

• Colombia and Peru provide excellent investment opportunities with reasonable fiscal terms and relative political stability

Key Assets

Peru: •Block Z34 (100%) Offshore NW Peru •Block XXI (30%) Onshore NW Peru

Colombia:• Nancy Burdine Maxine (58%) Onshore (producing)

•Azar (20%) Onshore

Overview of Key Assets

Projects

100% 30% 58%

Block Z34 Block XXI Nancy Burdine Azar

Geographic focus

Working Interest 20%

Status

Planned Activity

Acquired/Interpreted2D seismic in 2009.3D seismic programmeof over 800 sq km in 2011Processing finalised. Interpretation underway

Farm out equitySeek partnerDrill in 2012/13

Farmed out to Vale.Awaiting final assignment approval8,000km aero survey underway

Finalise aero survey2D seismic in 2012Drill in 2013

Nancy -1 producing.Burdine -1 and -5

producing followingworkover programme.Long term test until

final facilities installed

Negotiate contract extension.30km 2D seismicDrill Nancy-2 well(contingent )

Drill La Vega East wellQ2 2012 (April spud date)

3D seismic acquired and interpreted. Permits received, civil works for drilling finalised.

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Offshore Peru

Onshore Peru

Onshore Colombia

Onshore Colombia

Board of Directors

Executive Directors

John Bell ~ ChairmanCEO and owner of Sheer Energy Pty. Ltd., CEO and owner of Australian Drilling Associates. 35 yearsexperience in E&P drilling with BP, BHP and ADA

Richard Mew ~ Chief Executive28 years E&P experience with Shell, Conoco, Hess and Centrica. Primarily on International Business Development, M&A transactions

Ian Reid ~ Exploration Director28 years E & P experience with Shell International and as an independent consultant in Australia for the petroleum and geothermal industries

Thomas Tidow ~ Operations DirectorFormerly with Repsol, Vopak and Shell, has been with the company since its formation

Julian Garcia ~ Director and Colombia Country ManagerFormerly President of Gran Tierra Energy Colombia, Emerald Energy Plc country manager and Technical Director of the National Hydrocarbons Agency of Colombia

Non Executive Directors

Guy Cowan ~ 23 years with Shell, former Commercial Director of Shell PDC Nigeria and CFO of Shell Oil USA John Charlton ~ Former Group Treasurer ICI and Chief Financial Officer Kvaerner

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Peru Offshore Block Z34

Description:• Large offshore block (370,000 Hectares)• Located in the offshore Talara Basin • Next to the Talara oil fields (>1.5 billion barrels produced) • The block is in water depths ranging from 100m to >2000m• Gold Oil 100%

The Opportunity:

Our Plan:Finalise interpretationCompetent Persons ReportSeek partner to fund two wells in 2012/13

Seismic example showing tilted fault block

• The USGS estimates that 1.68 billion barrels remains to be found in Peru, predominantly offshore

• Numerous (>10) leads identified on 2D seismic and confirmed by 3D

• Significant contingent resources with company making potential

Current Status:• Acquired 2,013 km of 2D seismic in 2009; processed and

interpreted• Acquired over 800 sq km marine 3D in July/August 2011• Processing completed, interpretation being finalised.

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Seismic line through Pisco and Chilcano fault block leads

Block Z34 ~ Positive read across from BlockZ38

• Karoon Gas farmed in funding seismic and two wells• D&M valued Karoon Gas’ 75% of Block Z38 at US $657 million.• Karoon announced plans to drill end 2012• Latest report shows Block Z38 unrisked P50 resources at 2.2 billion barrels

• ‘G’ Prospect target in Block Z38 seen extending into Block Z34. • Mean Prospective resource of 419 MMb

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Gold Oil has 100% equity and ascribes a significant value to neighbouring Block Z34

Competent Persons Report on Z34 incorporating recent 3D survey due in March

Block Z34 ~ Prospects and Leads Summary

____________ _______ ______ _____

Total Unrisked 4,094 1,406 374 Note: Figures based on 2D and internal Gold Oil estimates

Block Z34 Gross Unrisked Resource Potential

Prospect /LeadP (10)

mmboeP (50)

mmboeP (90)

mmboe

Chilcano 1,985 823 191

Prospect ‘G’ 311 150 31

Pisco 752 134 8

Francesca 832 232 109

Cuy 214 67 35

Substantial Identified Hydrocarbon Potential• Significant leads/prospects identified

• 2D seismic interpretation indicates large structures• Completed 3D seismic confirms the prospectivity

and upgrades prospects to ‘drill ready’ status

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Chilcano

Pisco

Francesca

CuyProspect ‘G’

Peru Onshore Block XXI

Current Status:• Farmed out to Vale for $2m in cash plus up

to a maximum exploration programme of $10m• Waiting on approval to assignment (expected March)• Seismic acquisition is required to define targets• Fugro Airborne survey completed (8,000 km)

The Opportunity:• Frontier basin with structural targets identified

on geophysical data, with reservoir seals• Near to existing hydrocarbon discoveries

Our Plan:Acquire 8,000 km of aero gravity / magnetic survey 2D seismic in 2012 and well(s) in 2013

Description:• Located in the onshore Sechura Basin • Gold Oil 100% (30% after farm out)

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Colombia Nancy Burdine Fields

Description:

• Located in the Putumayo Basin of Colombia • Nine year Ecopetrol contract (exp. 2015) • Gold Oil 58.05% (through its 100% ownership of Invepetrol)

Current Status:• Producing from Nancy -1 and long term test on Burdine -1 & -5• Production from Nancy and Burdine 550 bopd.

(net approx. 150 bopd after Ecopetrol carry and Royalty) • Negotiating contract extension beyond 2015

The Opportunity:• Seismic is sparse and with new 2D there are considerable

appraisal/development opportunities• Nancy has 10 MMb recoverable with only 2.9 MMb produced to date

Our Plan:Negotiate contract extension beyond 2015Acquire 2D seismic in 2012*Drill Nancy -2 well in 2013 *

Seismic/Map –N Sand Time Map

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* contingent on contract extension

Colombia Azar Block

Description:• Located in the Putumayo Basin of Colombia • Exploration acreage Operated by Gran Tierra 40%• Gold Oil 20%

Current Status:• Extensively covered by high quality 3D• Portfolio of low risk drill targets identified• Preparing to drill a well Q2 2012 (Gold Oil carried for half its drilling costs in next well)

The Opportunity:• Several low risk prospects defined on 3D data – La Vega East,

South, Yanayaco and Maracuya• La Vega East next drill candidate with prospective resource

estimates of approx. 2-3MMb*

Our Plan:Gold Oil intends to participate in the Vega EastWell in 2012. If successful, the field could quickly behooked up via existing infrastructure

Azar Seismic Line

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*Internal Gold Oil estimate

Near Term Activity

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News Flow ~ Q1 and Q2 2012

Peru

Block Z34Competent Persons Report March Farm out bids received AprilFarm out terms agreed April/May

Block XXIAssignment to Vale Oil & Gas March

Colombia

Azar BlockLa Vega East well spud AprilLa Vega East well results April/May

Nancy BurdineExtension of Ecopetrol contract March/April

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Conclusion

• Gold Oil has a number of significant growth opportunities within its existing asset base in Peru and Colombia.

• The Company has a number of short term milestones that offer the potential for a rerating of the share price

• Colombia offers a number of the opportunities within existing producing areas and relatively low risk exploration with very quick payback

• Peru gives the Company access to very significant upside, largely through the multi billion barrel potential of Block Z34

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Contacts

Gold Oil Plc

Richard MewChief Executive Officer – rmew@goldoilplc.com

Tel: +44 (0) 203 427 5089

BuchananTim Thompson – timt@buchanan.uk.comBen Romney – benr@buchanan.uk.comHelen Chan – helenc@buchanan.uk.com

Tel: +44 (0) 207 466 5000

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