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

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?>

My friend was in contact with Gary Moore, the web site will be refreshed very soon to represent all what Gary was saying in the WallStreetReporter interview, so keep an eye open for that.

The price does not reflect the assets and potential for GOO, it now only covers what they have in P2 assets, and is missing anything for the potential of 5 to 10 billion exploration barrels. This is why the price, if they hit with the June Peru first drill, can easily multi-bag overnight, as there is no accounting for any success in the price is the jist.

Up again L2 now 1 v 2 @ 7/7.5 after the move up on the bid by SCAP

i think with colombia producing soon will give goo a kick start.

Should do lizard, 500bopd from that well will go down nicely :) Lets hope for a good workover on it.

L2 now 2 v 2 @7/7.75

thats the initial estimate- hope to increase gradually. -well its not much but a start and short term cash flow. all being well.

Upgraded web site now live :

http://www.goldoilplc.com/


To make sure you are seeing the new one, load the web site, then hold down CTRL and click "Refresh"

From todays Daily Mail :

" AIM-listed Gold Oil gushed 0.5p to 7.38p on hefty buying which swelled turnover to 3.4m. Management are next week travelling to Peru and expect to get approval from the Peruvian government to commence drilling onshore. It is the only independent oil company with interests in Peru and its exploration well in the Sechura Basin is apparently in an area the size of 14 North Sea oil blocks."

and it's up another 0.5 this morning .... still far from too late to get in if that is your inclination

Header updated with new picture.

This is starting to look like a good oporunity, with drilling to start shortly . I am fully invested at the mo and waiting for results from VOG before i can realicate funds to this one.

No real news expected from VOG for a week or two from memory

Driver, any chance you can put these 2 charts in the header in place of the AFN ones.....

Do not put any spaces between the 2 charts (eg >< and not > < ) and then they will be on the same level, and not on top of each other :

a busy summer ahead for goo!.

The worry for me is the politics in South America, looks like most of governments
are starting to lean way to the left, hard to know where to invest safely nowadays... Think I prefer AST for safety, maybe not as much potential.