Exercise of Adviser Warrants

Gold Oil PLC
15 December 2004

FOR IMMEDIATE RELEASE 15 December 2004


                   GOLD OIL PLC ('Gold Oil' or the 'Company')
                          EXERCISE OF ADVISER WARRANTS

Beaumont Cornish Limited, Nominated Adviser to Gold Oil, has been issued with
1,000,000 Ordinary Shares of 0.025p each (the 'Shares') pursuant to the exercise
of those warrants described in the Admission Document of 9 July 2004.

Application is being made to the London Stock Exchange for the Shares to be
admitted to trading on AIM.






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