LONDON, June 29 South America-focused oil
explorer Gold Oil has been left with just a single
director after its board was ousted by a shareholder vote,
prompting the suspension of its shares from London's junior AIM
Gold Oil said that at its annual shareholder meeting on
Friday chairman John Bell and three directors were not
re-appointed to the board and two new directors proposed by
shareholders were not voted in, leaving Julian Garcia as its
The company, which has assets in Colombia and Peru, said it
had requested the suspension of its shares pending the
appointment of new board members as one director was not
considered appropriate for its needs.
Shares in Gold Oil closed at 3 pence on Friday valuing the
company at about 29 million pounds ($45 million).