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

it appears full license granted yesterday on sechura. also full license to explore Z34 offshore block (was getting concerned as this was due to expire in june). news from perupetro signed thursday pm.

expecting rns today.

if signed and sealed yesterday, am surprised there is no rns overnight ...... just about arguable that rns will come when US and/or South America get out of bed

as usual cynic- usually after or around 11am. may include nbm if comes?.

From Rigzone yesterday -

PeruPetro to Sign Four E&P Contracts Thursday
BNAmericas Thursday, May 04, 2006


Peru's hydrocarbons promotion agency PeruPetro will sign four E&P contracts with two companies on Thursday for blocks 118, 119, 120 and XXI, the agency said in a statement.
US oil company Amerada Hess (NYSE: AHC) will sign the contracts for blocks 118, 119 and 120, which are located between Loreto and San Martin departments, Loreto and Ucayali departments and Loreto and Huanuco departments respectively, according to the statement.

British oil junior Gold Oil will sign for block XXI, located between Piura and Lambayeque departments.
Amerada Hess currently holds contracts for blocks 64 and 101 in the Maranon basin, while Gold Oil is exploring for hydrocarbons in the Z-34 block in northeast Peru.

PeruPetro also awarded the E&P contract for block B-04 in the northern Maranon basin to a consortium of Canadian oil companies Loon Energy (TSX: LEY) and Tusk Energy (TSX: TSK).

http://www.rigzone.com/news/article.asp?a_id=31862

The link.

L2 3 v 1 @7.5/8

Topped up at 7.80

279k trade buy @ 9p.

Gold Oil PLC
05 May 2006




FOR IMMEDIATE RELEASE 5 May 2006


GOLD OIL PLC ANNOUNCES THE FORMAL SIGNING OF ITS BLOCK XXI LICENCE

Following from the Presidential and Ministry of Energy and Mines approval of the
Gold Oil's Block XXI Licence, the award of the Licence was formally gazetted on
the 20th of April 2006.

On 4th May 2006, Gold Oil formally accepted the terms of the Licence by signing
the Licence at a ceremony in Lima, chaired by the Minister of Energy and Mines.

Speaking after the ceremony, Gary Moore, Managing Director of Gold Oil PLC, said
that the terms of the licence and the long term attraction of Peru for the
exploration and development of oil and gas meant that the signing has confirmed
our commitment for immediate exploration on Block XXI.

Enquiries:

Gary Moore, Operations Director on +44 (0)173 7833597
Email:
gmoore@goldoilplc.com

Mike Burchell, Chairman on +44 (0)1372 361772
Email:
mikeburchell@hotmail.com

Roland Cornish, Beamont Cornish Limited on 020 7628 3396.


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

If I looked correctly, 8.00 has been the all time high, reached on a couple of occasions ..... As I write, this level has now been breached, so if it manages to hold, then some quite serious upward momentum may develop

Or if they don't hold they will fall back again. The Grand Old Duke of York syndrome.
2517

is now a good buying time? or will they drop further?

BUY LOW SELL HIGH IS MY ADVICE CHRISHODGY!.

Disappointing price at end of day, but all may be not lost, it was very interesting to see that Amarada hess, had been granted, there area in Peru,
however having such a big company out there could be a very good thing for GOO
when it comes to the offshore blocks that Goo is awaiting agreement from the ministry on, as we all know that its going to cost alot of money to drill out there, and if I where the Goo directors, that area is ripe for a farm out, and who better than amarada hess, who have sway already with the powers that be.
I am looking for a good write up in saturday or sunday papers, which will tell
the full story of a small junior oil and gas company, who could be sitting on a gold mine ( that's the pun ), and to advise readers that if they where to strike oil
or gas on block XX1 then the price could rocket, and we wouldn't be worrying
about a quarter here, a half there, but 5p ext.
I have never been so sure on a any share since buying (NOP at 2p), and we all know what happenned there, goo is 35% of my portfolio, it may take a couple of
months but by the end of the year this could prove to be the buy of the year

lizard
BUY LOW SELL HIGH that is my tip on the drivers tips thread.

Today was a bit disappointing to end at the same price having said that it did prompt me to top up prior to the announcement I was buying dnx at 4p before there consolidation now look at them 1152p I still hold them, time is needed with small oils and in time we will properly make a lot of money.

very long way to go for goo!. but early signs look encouraging.

don't forget that closing prices on a Friday can be very strange indeed ...... closing prices at the best of times can often have little bearing on reality, but a Friday can exaggerate this as short term, T10/20 and other margin traders square away their books.

some big buys went through around close on firday-

Gold Oil PLC
08 May 2006






FOR IMMEDIATE RELEASE 8 May 2006



GOLD OIL PLC

('Gold', or 'the Company')


Gold signs Joint Venture Agreement with Plectrum Petroleum Plc for Block Z34
Offshore Peru


Gold is pleased to announce that it has agreed to form a joint venture with AIM
listed Plectrum Petroleum Plc in Block Z34, offshore Peru. The two companies
have jointly given notice to the authorities to convert Gold's existing
Promotion Agreement into a 30 year Exploration & Exploitation Contract. Under
the terms of the joint venture Gold will have a 50% carried interest through the
initial seismic phase of the work programme.


Block Z34 sits in the prolific Talara Basin which has produced to date in excess
of 1.7 billion barrels of oil and 340 billion cubic feet of gas(1). The 3713 km
(2) block (equivalent to 14 North Sea Blocks) sits adjacent to existing
producing concessions in water depths of 100-3000m, yet has a sparse existing
data set of just 500km 2D seismic and no wells. The initial work programme will
be to acquire a conventional modern seismic grid and enhance these data with MMT
and Electro Magnetic studies.


Final completion of the transaction is subject to the qualification of both
companies as approved contractors and the negotiation with and approval of the
Exploration Contract terms by the Peruvian authorities.


Gary Moore, Gold's Chief Executive, commented: 'We have been looking for a
partner who could bring some state of the art expertise to the table and we
believe Plectrum fits the bill perfectly and look forward to working with them.
For a small company such as Gold we can either buy in the expertise in a very
sparse market or bring in a partner who already processes such skills and can
share the workload. We chose the latter. '



For further information, please contact:



Gary Moore Managing Director; Tel: 01737833597
Email:
gmoore@goldoilplc.com
Mike Burchell Chairman; Tel: 01372361772
Email:
mikeburchell@hotmail.com
Roland Cornish Beaumont Cornish Limited; Tel: 020 7628 3396



Note 1: Higley D (2004), The Talara Basin Province of Northwestern Peru:
Cretaceous-TertiaryTotal Petroleum System: U.S. Dept. of the Interior, U.S.
Geological Survey Bulletin 2206-A



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

excellent news was hoping this would be sorted. moore seemed v keen on this block in his wall street interview. pleased they have a partner involved. sp due a better run than off late.