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

Gold Oil PLC
05 October 2006


For Immediate Release 5th October 2006


Gold Oil plc ('Gold or the Company') announces an update of their Peruvian and
Colombian Operations and Director's dealings


PERUVIAN OPERATIONS


The Company is pleased to announce that it has signed a contract with a local
Drilling Contractor (Petex) for the testing of the San Alberto 1X exploration
well on Block XXI, onshore Sechura Basin in North West Peru. Depending upon the
time it takes to complete its current assignment in the Peruvian jungle, the rig
should be rigged up and ready for operations by late October or early November.


All documentation necessary for the Company and Plectrum Plc (our partner) in
Z34 that are necessary to get board approval from Perupetro is now in place. It
is most likely that approval should be obtained before the end of October. The
next step in the process is the approval of the Ministry of Energy and Mines
which can take anything up to four months. We have expressed our concerns with
the authorities that any slippage with the approvals would have an adverse
impact on the plans to bring in a seismic vessel into Peruvian waters jointly
with other offshore operators in 2007.


COLOMBIAN OPERATIONS


The Nancy well has now stabilized further at a flow rate of 714 bbls per day
with a 4% BS&W (685 bopd). The BS&W is well completion fluid and should all be
removed by the weekend and an encouraging stable flow rate of 550 bopd is
expected once all the gas handling equipment has been completed and is
operational.

Although the operator has suffered many difficulties in completing the Nancy 1
workover in a difficult part of the country, the consortium is sufficiently
confident to commence a multi-well work over on the Bourdine 1, 4 and 5 wells.
At present the plan is to only perforate the previously perforated and produced
hydrocarbon zones (same as Nancy 1) before attempting to perforate virgin
hydrocarbon zones.

The technical information contained in this announcement has been reviewed and
approved by Mike Burchell, B.Sc., 66, member of the SPE and with over 44 years
experience in the oil and gas business.


DIRECTOR'S DEALINGS


The Board announces that Michael Norman Burchell, Director, today exercised
575,000 directors' warrants to subscribe for 575,000 ordinary shares at 1p per
share and John Gary Moore, Director, today exercised 2,300,000 directors'
warrants to subscribe for 2,300,000 ordinary shares, at 1p per share, ('the
Shares'). The Shares will rank pari passu with all existing shares in issue, and
application will be made for admission to trading on AIM.

Following the issue of the Shares, Mr. Burchell will own a total of 5,575,000
shares or 1.34% of the enlarged issued share capital, together with 1,825,000
directors' warrants and Mr. Moore will own a total of 21,150,000 shares or 5.08%
of the enlarged issued share capital, together with 6,900,000 directors'
warrants.


Enquiries:

Gary Moore Managing Director Tel: +44 (0)1737833597
Email:
gmoore@goldoilplc.com

Mike Burchell Chairman Tel. +44 (0) 1372361772
Email:
mikeburchell@hotmail.com

Roland Cornish Beaumont Cornish Limited Tel: 020 7628 3396



This information is provided by RNS
The company news service from the London Stock Exchange

shame the market is unimpressed!

cynic- you fool.

Patience guys watch it fly now. Very positive rns!

basically now;

Burchell increased shareholding by 575,000k.
Moore increased shareholding by 2.3m.

just before XXI testing- mmmmmm.

I am gobsmacked at how well the money men killed off the first charge. Lets sit back and watch or buy some more while it's cheap!

........well that went down like a damp squib - how very interestiing - I would have expected at least 0.5p rise on that news

So, anyone any ideas on why the mm's are not keen to encourage trading on this stock?

They're taking the P**S

Last week they were protecting it now their killing it!

Last call by mm to buy on cheap I would say!

well perhaps the directors are quielty confident to increase their holdings with testing due to start this month. a signal?.

That implies collusion between the mm's and the board of GOO?

Good news again I see at least we are back to green, blue at the end I think.

You can't say they are not keeping us up to date.

The Nancy well has now stabilized further at a flow rate of 714 bbls per day
with a 4% BS&W (685 bopd). The BS&W is well completion fluid and should all be
removed by the weekend and an encouraging stable flow rate of 550 bopd is
expected once all the gas handling equipment has been completed and is
operational.

Do you guys think mm are short of stock hence cause of fall? If so what could happen?

the way thing are going, i suspect that Goo will be producing big big time. IMO. Should be buying more.

Have done but would just like to see it past 0.10p to stop the twitch!

Do you mean 10p??

Surely, if stock was in short supply, (i.e. demand outstripped supply) the price should be more expensive? My logic, not necessarily right, would assume the opposite. Too much stock & not enough buyers.