GOLD OIL, the London-based oil exploration company focused on the South American and Caribbean region, announces that in late December 2005, the Company received an Operator Certificate from PeruPetro that allows the Company to carry out seismic, drilling and development operations in Northwest Peru.
The Promotion Licence signed with PeruPetro on October 15, 2004 with PeruPetro for Block XI (now renamed Block XXI) onshore Sechura Basin has been converted to an Exploration and Production Licence. The Licence now goes to the Ministry of Energy and Mines for approval, which could be forthcoming anytime between February and May of this year 2006.
The terms of the E&P Licence commit the Company to either shoot 120 km of 2D seismic or drill a well in the first period of five over a seven year term. The remaining four periods require the Company to either drill a well or drop the acreage. The Licence is for a term of 30 years for oil and 40 years for gas, with a minimum royalty of 5% on wellhead production for the first 5000bopd (30 MMscfd for gas) rising to 20% if and when production reaches 100,000 bopd (600 MMscfd for gas).

Times Article:
Gold Oil is valued in the market at about �15m. That is so small that almost any good news must have a big impact on the share price.
What are the chances of that happening? Run by a former Burmah Oil director, Mike Burchell, Gold Oil will drill the first in a series of wells in the Sechura Basin in April. There will be surprise if it does not find gas, as another company, Olympic, has done just that in a similar formation nearby.
The secondary target, later in the year, will be oil, I gather. A couple of months ago, Petro Tech made a big oil find offshore in the Sechura Basin. The theory is the oil may have migrated up into Gold Oil�s block. Don�t ask me to explain the geology because I don�t speak Palaeozoic. But a decent oil find here would be a company-maker.
Gold Oil has enough cash to fund this year�s drilling programme. And it already has a deal in place to sell its gas to Mann Ferrostaal, a German company that is building an ammonia plant nearby. Getting all that for �15m seemed a bargain to me. But Gold Oil still has to find its gas.

GOLD OIL http://www.goldoilplc.com/index.html

Plectrum Web Site
http://www.plectrum.co.uk/splash_content.html

Wall Street Reporter Interview
http://www.wallstreetreporter.com/interview.php?id=17724&player=real
Growth Equities & Company Research Nov 2007
http://www.goldoilplc.com/docum/gecr_09Nov07_GoldOil_full.pdf
Gold Oil's Presentation On The 10/12/2007
http://www.proactiveinvestors.co.uk/pdf
Research Page Last updated Oct 23 2008
http://www.moneyam.com/InvestorsRoom/posts.php?tid=10572#lastread
6 AUG 2009 Operational and Reserves & Resources Update Colombia & Peru
http://moneyam.uk-wire.com/cgi-bin/articles/20090806084900H3062.html

REASONS TO BUY GOLD OILRecent Gold Oil News Headlines
Date Time Source Headline More

21/04/2006 13:23 AFXF Gold Oil gets govt approval for Peru licence
21/04/2006 13:02 UKREG Ministry Approval
13/04/2006 11:01 AFXF Gold Oil forms joint venture in Brazil with Proen Engenharia
13/04/2006 10:33 UKREG Strategic Partner in Brazil
09/03/2006 12:15 AFXF Gold Oil to buy 40 pct stake in Nancy-Bourdine-Maxine fields in Colombia
09/03/2006 11:49 UKREG Acquisition of Interest
14/02/2006 11:58 AFXF Ascent Resources ups stake in Ayoluengo oil field to 88.75 pct
07/02/2006 13:33 AFXF Gold Oil expects drilling to start on Block XXI in Northern Peru in April/May
07/02/2006 13:00 UKREG Contract award and warrants
06/02/2006 12:10 AFXF UK small caps remain higher at midday, Designer Vision gains on Renault deal
31/01/2006 13:15 UKREG Shareholding - Amendment
30/01/2006 12:08 UKREG NPEL Completion

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Brazil meets oil needs with rig
By Steve Kingstone
BBC News, Sao Paulo



Brazil now expects to become a net oil exporter
Brazilian President Luiz Inacio Lula da Silva has opened a vast new oil rig which will enable the country to be self-sufficient in oil production.
Costing more than $600 million (337m), the platform will generate 180,000 barrels a day.

The total amount of oil produced by Brazil now exceeds the amount consumed by its people.

In the past, South America's largest country had been painfully dependent on imported oil.

Friday's opening of the rig was greeted with some patriotic fanfare.

For decades Brazil relied on other countries to supply it with oil - a dependency that proved disastrous during the two oil shocks of the 1970s.

Then, as prices soared, the Brazilian government had to borrow heavily to meet its energy needs, triggering a destructive cycle of debt and inflation.

Proud moment

Against that backdrop, Friday's opening of the rig off the coast of Rio de Janeiro is being seen as a major step forward in the nation's development.
It's an extraordinary achievement, a privilege only a few countries have

President Lula

Dressed in orange overalls, Lula personally flipped the switch to start production.

As the flow began, the president gleefully drenched his hands in Brazilian oil.

The state-controlled energy company, Petrobras, says the new rig will increase national production to 1.9m barrels of oil a day - slightly more than the quantity Brazil consumes.

Self-sufficiency is quite an achievement for a country that only discovered off-shore oil 30 years ago.

And with global prices on Friday hitting $75 a barrel, it has come at an opportune moment.

"It's an extraordinary achievement, a privilege only a few countries have," Lula said.

Looking ahead, Brazil now hopes to become a net exporter of oil, taking advantage of deep-sea drilling technology that is considered some of the best in the world.



--------------------------------------------------------------------------------

"This is the extract from the recent Times article: "
I have bought shares in a tiny oil and gas exploration business, Gold Oil, which has two big exploration areas onshore and off the northwest coast of Peru.

Gold Oil is valued in the market at about 15m. That is so small that almost any good news must have a big impact on the share price.

What are the chances of that happening? Run by a former Burmah Oil director, Mike Burchell, Gold Oil will drill the first in a series of wells in the Sechura Basin in April. There will be surprise if it does not find gas, as another company, Olympic, has done just that in a similar formation nearby.

The secondary target, later in the year, will be oil, I gather. A couple of months ago, Petro Tech made a big oil find offshore in the Sechura Basin. The theory is the oil may have migrated up into Gold Oils block. Dont ask me to explain the geology because I dont speak Palaeozoic. But a decent oil find here would be a company-maker.

Gold Oil has enough cash to fund this years drilling programme. And it already has a deal in place to sell its gas to Mann Ferrostaal, a German company that is building an ammonia plant nearby. Getting all that for 15m seemed a bargain to me. But Gold Oil still has to find its gas.
"The Latest News."
Gold Oil, the London-based oil exploration company focused on the South American and Caribbean region, announces that in late December 2005, the Company received an Operator Certificate from PeruPetro that allows the Company to carry out seismic, drilling and development operations in Northwest Peru.

The Promotion Licence signed with PeruPetro on October 15, 2004 with PeruPetro for Block XI (now renamed Block XXI) onshore Sechura Basin has been converted to an Exploration and Production Licence. The Licence now goes to the Ministry of Energy and Mines for approval which could be forthcoming anytime between February and May of this year.

The terms of the E&P Licence commit the Company to either shoot 120 km of 2D seismic or drill a well in the first period of five over a seven year term. The remaining four periods require the Company to either drill a well or drop the acreage. The Licence is for a term of 30 years for oil and 40 years for gas, with a minimum royalty of 5% on wellhead production for the first 5000bopd (30 MMscfd for gas) rising to 20% if and when production reaches 100,000 bopd (600 MMscfd for gas) .

Expect a blue start tomorrow and could rocket in the lead up to drilling,better get in early,or you will miss the boat,IMO.
--------------------------------------------------------------------------------

From British Bulls.Com

GOO

Gold Oil PLC
Daily Commentary


Our system posted a BUY-IF today. The previous SELL recommendation that was confirmed was made on 05.04.2006 (18) days ago, when the stock price was 6.3800. Since then GOO has gained 25.39% .

Is this finally a good time to buy? Well, it depends. First check what happened at after hours trading and future values. Then, follow the next session very carefully and be on your toes. This candlestick pattern is a bullish one, but we have to see whether it will be confirmed or not.

Do you see a gap-up at the market open? Do you see a white candlestick forming with a higher close at the session's end? Shortly, is it a nice bullish day? If so, place your buy orders and open new long positions. The market is now on the bull side.

But, be careful, also. If you see a gap-down when the market opens, or if the session closes with a bearish sentiment producing a black candlestick characterized by a lower close, do not challenge the market. Ignore the BUY-IF alert. Cancel the buy orders and cover any new long positions that you might have opened. Bears are still in control.

Regards

Colombia NBM work on site commences may 5th!. onshore drilling in Peru (Sechura block) June contract review Talara B block offshore June. bidding in jv Brazil next few months.

Interesting times for Gold Oil plc.

lizard
Yes very interesting, goo going up nice and steady.

Mention in OilVoice yesterday

http://www.oilvoice.com/Gold_Oil_Receives_Licence_Approval_/6232.htm

Press Release

Gold Oil Receives Licence Approval
Monday, April 24, 2006

"Gold Oil has reported that Peru's Ministry of Energy and Mines has approved the Exploration and Production License entered into between Gold Oil and PeruPetro, the State Oil company of Peru, for Block XXI, onshore Peru and announced in January 2006.

Gold Oil initialised the contract with PeruPetro back in December and approval by the Ministry of Energy and Mines now allows the Company to commence drilling on Block XXI.

All equipment for the first well, San Alberto 1X, has been ordered and Gold expects to finalise an agreement with a Peruvian drilling contractor to spud San Alberto-1X at the beginning of June at an AFE cost of around US$1.3 million"

Nothing new there then but at least some more publicity.

Last weeks good news now being unwound, so sp could drift lower until june.
2517

why june works commences in colombia 5th may so i would expect to gain some momentum from here!. short term production getting closer in south america.

Hi tvc15 Can i ask why this will get a good press report at the weekend,sorry for being stupid.

Wel it was last weekend and I thought it would after the news from Peru and Columbia. Also after being tipped in the times but sadly not a peep.

pleased everybody isn't tipping goo atm. i think we are to in the dark as to what peru has to offer?, which at this stage is anyones guess.

Buyers returning today.

about bloody time!.

Sector: Energy
Industry: Oil and Gas
Interview With:
J. Gary Moore
Managing Director

Dated May 01, 2006

Windows Media Player Link

http://www.wallstreetreporter.com/uploaded_files/2006/May/01/wma/GoldOilplc.wma

GOLD OIL PLC is an independent oil and gas exploration and production company looking for oil and gas interests in several South American and Central American countries. The Company strategy is to look for low risk work over/appraisal oil field opportunities that were shunned by the majors in the past as sub-economic, together with high risk high reward rank exploration opportunities. This mix should ensure both reasonable profits in all scenarios with every chance of the Company becoming an overnight wonder. From modest beginnings of $700,000 initial capital (plus expenditure of $2 million out of a $6 million placing in 2005) the company has P2 producing and undeveloped reserves of 315,000 bbls and over 700,000 ha of acreage under licence, with reserves potential in the billion of bbls range. The Company also is an approved operator in Spain and Peru with applications pending in Colombia and Brazil.

To my mind, it is really Colombia and Brazil that will or at least may prove the most interesting

Brazil Co-Operation Agreement

Following the announcement on April 13th about the Co-operation Agreement with Proen Engenharia e Manutencao of Brazil, we could be in for some news in the week ahead. See extract below from the announcement below.
------------------------------------------------------------------
The companies will pursue onshore oil and gas properties previously operated by Petrobras that are now being licenced to small companies in licencing rounds, the next one being in early May this year.
------------------------------------------------------------------

Petrobras are Brazil's equivalent of BP.

Didn't Cairn do something similar and end up with a company changing success story. We can but dream.................

Just listened to interview with Gary Moore,very bullish,IMO.

http://www.wallstreetreporter.com/profile.php?id=17724