lol! here's an article about the previous 100million year old record, taken from New Scientist...I saw this a while ago.....
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A perfectly preserved shellfish fossil over 100 million years old has revealed a surprising feature - the oldest penis in the world.
The fossil, a one millimetre-wide crustacean called an ostracod, was found in Brazil and examined by David Siveter at the University of Leicester. It was preserved with its shell open displayed another surprise - not one but two penises.
"We think there are two penises as they evolved from a set of appendages. The female also has two vaginas and their copulation may last from a few seconds up to a few minutes," says Siveter. "They display the longest and most ostentatious display of sex in the fossil record."
"Although we have recognised gender in the fossil record for 500 million years this is the first example of a penis of this age," he adds.
Most ostracods are tiny marine creatures, but they have the largest sperm to body ratio in the natural world - up to ten times their body size. Those with the largest sperm have needed to devise a special system to enable them to fertilise a female.
"They have to use a type of bicycle pump to eject the sperm into the female," Seviter says.
http://www.newscientist.com/news/news.jsp?id=ns99992794