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

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)

driver- makes you wonder if theres any point posting this type of information on this thread. this news imo is very encouraging.

just double checking.....
When an oil firm is looking for oil do they call it drilling or some sort. So this 'production' test carrying out next week is to see how many barrel of oil it will produce. In theory there is oil, so the question is how much?

Where was the other wire log located when they found hydrocarbons last month. Is it on the same site as this production testing?

exploration well. a well drilled to either search for an undiscovered pool of hydrocarbons or to define the limits of the hydrocarbon bearing formation.

located hydrocarbon bearing formations from recent drilling/logging. total depth about (5100ft).

they are testing two zones (commencing next week) from one exploration well San Alberto -1X. the two hydrocarbon bearing sands zones palaeozoic (oil) lower depths and verdun (gas) upper depths.were logged showing total depths of 250ft and 315ft gross.

production testing flow of hydrocarbons. think gas is very likely but testing oil first.
gas is located in bordering block XIII Olympic gas field. and oil in neighbouring Z2B Petrotechs field (check bpd oil/gas outputs above) . you will see from the above links Moore (goo MD) put the deal together for the XIII block (%) when at Northern Petroleum plc in 2002. so I am certain he knows this area very very well and its potential. this is imo why Gold Oil have a 100% interest in this block, therefore prepared to take on all operational costs. there is also a MOU with MAN Ferrostaal to build a gas plant in place for over a year. confident.

Should Goo actually be sat on 2nd largest oil find ever, what should market cap be?

higher than 13p!.(100m+mkt cap/25p).i would say if it is as reported 200m+ oil/ and gas into equation. 30p minimum. Z34?.

cynic have a look in your email box.

JB .... been there; done that!

I,ve seen mention of largest find in Peru but where does this 2nd largest oil find ever come from?
If this was the case IMO companies would be lining up to buy GOO outright and they,ve got pockets full of money!

andysmith
andy you know what the M/Cap would be $$$$$$

lizard
Re "driver- makes you wonder"
This is a more sleeper thread never a less those here are on it and that's the main thing when we get more news we will have more to talk about.

I would have to agree easy comparison would be Oilex which is at 48p.

Driver + Lizard little late but some great research above!!!!!

Driver ERX, GOO and GTL coming!

must admit didnt realise the outputs on surrounding blocks was that high. XXI interesting, should know in next month potential of acreage. Petrotechs Z2B to the west of goo's block.

outputs for oil and gas for surrounding blocks listed above.

does any know where all the market maker are this morning i only have wins

There all back they must have forgotten to put there clocks back

wouldnt surprise me. the above info is very useful. marcel hope youve read it and understand it?.

Gold Oil PLC
30 October 2006










FOR IMMEDIATE RELEASE 30 October 2006



GOLD OIL PLC ('Gold Oil' or the 'Company')

Shareholding


The Company were informed on 27 October 2006 of the following:


that at 25 October 2006, Credit Agricole Cheuvreux International Limited
('Credit Agricole') has an interest in 18,820,500 ordinary shares of Gold Oil,
representing 5.01% of the issued share capital.









Contact: Michael Burchell, Chairman on 01372 361772









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