1. Gold Oil Plc
Investor Presentation
February 2012

2. 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
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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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3. Introduction
Highlights Key Statistics
• Gold Oil is a junior E&P company with a strategic focus AIM Company Ticker: GOO
on South America; it was floated in 2004 on AIM Shares in issue: 891m
• Focused on balanced mix of low risk appraisal and Market Price (13 Feb 2012): 2.80p
development assets and high impact exploration Market Cap: £25m
Cash & Equivalents : £3m
• Colombia and Peru provide excellent investment
opportunities with reasonable fiscal terms and Debt (short term loans): £0.0m
relative political stability
Major Shareholders
Key Assets Shareholder Shares %
Peru: Mr. Iraj Parvisi 143,279,823 16.1
• Block Z34 (100%) Offshore NW Peru Sheer Energy (Mr. John Bell) 142,511,810 16.0
• Block XXI (30%) Onshore NW Peru Lynchwood Nominees 55,812,164 6.3
Mr. Mark Pritchard 42,500,000 4.8
Colombia:
• Nancy Burdine Maxine (58%) Onshore (producing) Bank of New York Nominees 35,000,000 3.9
• Azar (20%) Onshore Further approx.1,350 holders 472,409,228 52.9
Total 891,513,025 100
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4. Overview of Key Assets
Projects Block Z34 Block XXI Nancy Burdine Azar
Working Interest 100% 30% 58% 20%
Geographic focus
Offshore Onshore Onshore Onshore
Peru Peru Colombia Colombia
Acquired/Interpreted Farmed out to Vale. Nancy -1 producing. 3D seismic acquired
2D seismic in 2009. Awaiting final Burdine -1 and -5 and interpreted.
Status 3D seismic programme assignment approval producing following Permits received, civil
of over 800 sq km in 2011 8,000km aero survey workover programme. works for drilling
Processing finalised. underway Long term test until finalised.
Interpretation underway final facilities installed
Farm out equity Finalise aero survey Negotiate contract Drill La Vega East well
Planned Activity extension. Q2 2012 (April spud
Seek partner 2D seismic in 2012
Drill in 2012/13 Drill in 2013 30km 2D seismic date)
Drill Nancy-2 well
(contingent )
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5. Board of Directors
Executive Directors
John Bell ~ Chairman
CEO and owner of Sheer Energy Pty. Ltd., CEO and owner of Australian Drilling Associates. 35 years
experience in E&P drilling with BP, BHP and ADA
Richard Mew ~ Chief Executive
28 years E&P experience with Shell, Conoco, Hess and Centrica. Primarily on International Business
Development, M&A transactions
Ian Reid ~ Exploration Director
28 years E & P experience with Shell International and as an independent consultant in Australia for the
petroleum and geothermal industries
Thomas Tidow ~ Operations Director
Formerly with Repsol, Vopak and Shell, has been with the company since its formation
Julian Garcia ~ Director and Colombia Country Manager
Formerly 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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6. 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%
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.
The Opportunity:
• 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
Our Plan:
Finalise interpretation
Competent Persons Report Seismic example showing tilted fault block
Seek partner to fund two wells in 2012/13 Seismic line through Pisco and Chilcano fault block leads
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7. 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
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
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8. Block Z34 ~ Prospects and Leads Summary
Prospect ‘G’
Cuy 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
Block Z34 Gross Unrisked Resource Potential
Francesca P (10) P (50) P (90)
Prospect /Lead mmboe mmboe mmboe
Chilcano 1,985 823 191
Prospect ‘G’ 311 150 31
Pisco Pisco 752 134 8
Francesca 832 232 109
Cuy 214 67 35
Chilcano
____________ _______ ______ _____
Total Unrisked 4,094 1,406 374
Note: Figures based on 2D and internal Gold Oil estimates
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9. Peru Onshore Block XXI
Description:
• Located in the onshore Sechura Basin
• Gold Oil 100% (30% after farm out)
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
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10. 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 2015
Acquire 2D seismic in 2012*
Drill Nancy -2 well in 2013 *
* contingent on contract extension Seismic/Map –N Sand Time Map
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11. 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 East
Well in 2012. If successful, the field could quickly be
hooked up via existing infrastructure
Azar Seismic Line
*Internal Gold Oil estimate
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12. Near Term Activity
12

13. News Flow ~ Q1 and Q2 2012
Peru
Block Z34
Competent Persons Report March
Farm out bids received April
Farm out terms agreed April/May
Block XXI
Assignment to Vale Oil & Gas March
Colombia
Azar Block
La Vega East well spud April
La Vega East well results April/May
Nancy Burdine
Extension of Ecopetrol contract March/April
13

14. 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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15. Contacts
Gold Oil Plc
Richard Mew
Chief Executive Officer – rmew@goldoilplc.com
Tel: +44 (0) 203 427 5089
Buchanan
Tim Thompson – timt@buchanan.uk.com
Ben Romney – benr@buchanan.uk.com
Helen Chan – helenc@buchanan.uk.com
Tel: +44 (0) 207 466 5000
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