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

My, My this Gary Moore seems to be busy to replying everybody emails! At least he is trying to keep up the good relations with the shareholders. Give him credit for that...At least he is aware of a load confusion going on lately.

I think that is very good sign for me, giving me some confidence back with the company.

he doesnt have to do any website updating at all. pleased he is using the aim rule guidance. as some plonkers will note if not. updates useful to us investors as with oil co you can go months with f all.

Copy from ADVFN

FROMGOO

September 28, 2006
Apologies, but the status report for September 15 is incomplete.
The downhole pump failed and was replaced by the vendor, and then the surface pump failed and was replaced by the vendor. In the meantime the well flowed in slug flow at rates of between 467 and 738 bbls per day for a period of 12 hours before the surface pump failed again. The initial flow contained 60% oil, 30% completion fluid from cleaning up the well and 10% emulsion. The surface pump is being replaced yet again. Its too early to say yet what the well will produce, but if we can ever get a pump that works it is still on target for 450 - 500 bopd.

Cheers baz
Excellent news if legitimate.

Sorry I take that back it's on the Web Site, Excellent news

this well is also expected to increase flow rate overtime. i spoke to moore a few weeks back and it has potential of 1000bpd but this was put to him by operator so with these levels it could be possible.

in addition we they have 4 other wells to re enter on the three oil fields and further exploration. then theres xxi?. z34. brazil bidding in november.spain asset drilling outcome. further low risk acquisitions in planning. interesting.

RNS should be out soon to back this up then will shall see some action in the sp.

Thats more like it, brilliant clarity of the situation now. The management must have seriously taken on board some comments regarding 'communication problem'. They know it will benefit them as well as us!

http://www.goldoilplc.com/docum/Annual_Report_2006.pdf

worth a read a lot more detail for interested people. brazil blocks still negotiating for further exploration and confirms interest in bidding in r8 november for more blocks.

Now in the header.

Annual_Report_2006.pdf

cheers baz
GOO web has been updated.

http://www.goldoilplc.com/newpreports.html
http://www.goldoilplc.com/colombia.html

i read in the report still seeking more high potential opportunties in Peru- interesting still some big blocks up for grabs.

Up 5% should get news today.

seem to hear such prognostications from one poster or another almost every day ..... guess someone will call the timing correctly one day!

cynic
The company have said them selfs an RNS is imminent, the news is out already any way its on there Web Site we just need an official RNS to let the city know.
And stop using those big words.

wll u can understand them, so that is sufficient!

I hope they have solved the problems before they release the rns otherwise the city will not be as keen as it should be.

CYnic

yes, big word indeed, I have to check it first. here is something to help

PROGNOSTIC: a sign or indication of a future event; a forecast; a symptom. foreshowing, indicative of something future by signs or symptoms.

PROGNOSTICATE: to foretell from present signs, to foreshadow, to presage, to betoken.
prognostication..........noun.
best luck

cynic
I can understand them I was thinking that other posters who may find your posts problematic.