Osage Exploration and Development Inc (OEDVQ)

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Drilling commences on Block XXI, Onshire Peru
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06/24/2008 9:12 AM ETFOR 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: [phone] Beaumont Cornish Limited Roland Cornish Tel: [phone] Blue Oar Securities Jerry Keen Tel: [phone] Conduit PR Jonathan Charles/Ed Portman Tel: [phone] ---END OF MESSAGE---