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

goo will get stronger, as a trees roots spreads and as the goo gets bigger and bigger.

lizard thanks for correction, still learning!

no worries. perhaps we will see a few taking a position today or increasing with rig on site at weekend ready for next week production testing of San Alberto-1X.

link on advfn reuters phoned burchell asked about rumours of big oil find in peru.
obviously he did not release any information. but stated 'we are not producing hydrocarbons yet'.

does appear the media reports are becoming more frequent and of similar tone.

And not being denied despite sp rising!

"yet" sounds good as in not yet but will.

rumour is certainly getting around started a few months back with D Mail (2 notes on big oil finds) then FT got hold. D Express last week now Reuters.

well lizard, if you want to read something into what was not said, "We are not producing hydrocarbons yet" could have all sorts of positive connotations, none or all of which could be correct

not saying it is 100% but its starting to become more than a coincidence now imo media attention different sources saying the same thing.

i am inclined to think that too but am quite puzzled as to why the reticence to announce anything

dont think it is that easy to put a figure on what they may or may not have at this stage. testing will help this imo. better to get the facts right and accurate.

that's certainly true, but would have expected an announcement that they had found something of potential significance etc etc ..... ah well; all will appear in due course.

btw, what a generally shitty day in the markets!

I didn't think we would see blue today.

Lot of quite large purchases as well.

tiny volume today ...... barely 20% of norm

Would I be right in saying that even if we have good news next week, the sp will rise temporarily, but profit taking by one & all will produce the inevitable bounce again? Up to 15p, down to 10p? For those in long term, please disregard.

there has been some interesting discussions on advfn. a post gives the surrounding blocks outputs for oil and gas and makes interesting reading.

additionally it appears Moore used to be a non executive director at Northern Petroleum plc. he was part of the negotiations/deal for Olympics gas field XIII that borders XXI in 2002. NOP bought a stake in this block now a proven gas field. Moore then left NOP to form Gold Oil plc. would you not think he had some knowledge of XXI beforehand?.

http://www.northpet.com/news/news-2002/pr-30-09-02.html

Well we might as well share it copied over from the over side.

If you go onto block maps then click on XXI area then click on Petrotech Z2B block it gives list of blocks/ outputs. This is the block i think goo are refering to the west of XXI. that contains the same structures as goo. palaeozoic/ verdun.


The wells in and around xxi

1-AB PLUSPETROL NORTE S.A.
PRODUCTION:
Oil (b/d)29,592

8 - PLUSPETROL NORTE S.A.
PRODUCTION:
Oil (b/d) 17,839

Z-2B PETROTECH PERUANA S.A.
PRODUCTION
Oil (b/d) 14,749
Gas (MMPC/D) 18.602

VII/VI SAPET DEVELOPMENT PERU INC.
PRODUCTION:
Oil (b/d) 3,025
Gas (MMPC/D) 3.443

X - PETROBRAS ENERGIA PERU S.A.
PRODUCTION:
Oil (b/d) 13,021
Gas (MMPC/D): 11.724

31-C AGUAYTIA
PRODUCTION:
Oil (b/d)3,312
Gas (MMPC/D) 45.425

88 - PLUSPETROL PERU CORPORATION S.A. - PROYECTO CAMISEA
PRODUCTION
Barrels per day (b/d)36,601
Gas (MMPC/D) 144.152

I,II,III,IV ,V,IX,XV,31B/D - OTHERS
PRODUCTION
Oil (b/d) 4,058
Gas (MMPC/D)
Block I: 2.866
Block XIII 1.014

http://www.perupetro.com.pe

makes you think why with his past involvement and knowledge of the area he chose to retain a 100% interest in the block. gas is looking more than possible but spoke to Moore recently and mentioned oil or gas he said going for oil. both would be good. a high % of the blocks listed above are producing oil and gas on surrounding blocks. MOU with MAN Ferrostaal to build a gas plant has been in place for over a year now.

(info from advfn)