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

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

The direct link straight to the Windows Media file to listen to is below. GOOd things from this, he thinks that GOO's present value is only taking in the present P2 reserves and allows nothing for the exploration potential, and that exploration potential is around 5 billion to 10 billion barrels.......sounds nice, will build my stake in these ones up some more in the months ahead :)


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.

The below link is the direct link to listen in Real Player :


http://www.wallstreetreporter.com/interview.php?id=17724&player=real

PapalPower
Cheers for the link excellent interview, I have put the link in the header.

pp thanks- no harm doing it i suppose. worth remembering goo are a very young company and everything takes times, but early stages look encouraging peru could take it to another level. interesting to see him bullish on offshore talara b block, sechura seems to be first priority initially i guess time will tell what potential there is?. that is thee question atm?.

we should know more about talara intentions soon as license coming to expiry.

Given the potential and GOO at an early stage, but moving quickly, its one I will be building a holding in in the months ahead, along with AST. Both offer some very good potential to move up in the months ahead.

sp performance poor thus far. we were higher last year without.

operator status.
acq of spain asset
acq of colombia asset
peru ministry approval to drill sechura
jv agreement in brazil.
renewed extension of talara license peru.
extends mou with man ferrostaal /peru.
large stakebuilding from p investors.

will be pleased once NBM Colombia deal gets going (5th may) hopefully increasing in production as expected over time. then june- who knows?>