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
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.

UK smallcap opening - Gold Oil hits the jackpot on joint venture news in Peru
LONDON (AFX) - Punters were pleased with Gold Oil this morning, up 0.62
pence at 8.12, as the exploration firm said it has agreed to form a joint
venture with Plectrum Petroleum for a project based in offshore Peru, dealers
noted.
The two companies have jointly given notice to the authorities to convert
Gold Oil's existing Promotion Agreement into a 30-year exploration and
exploitation contract

hopefully a positive rns in regard to brazil soon?. from website looking to bid in next round for licenses on acreage with their brazilian partner. spread the country risk.

Trades 8p and above are buys.

yes agree!.

http://www.oil-barrel.com/pressreleases/goldoil080506.txt

The Deal With Plectrum plus Maps
is in the header.

http://www.plectrum.co.uk/rnsnotice16.pdf

Once we get this overhang clear, the price should respons much better :) EVO presently is the one offloading for the same seller we have had for some time.

and isnt it starting to pis* me off!. note that ppe sp has doubled on speculation of a contract i.e this one. whereas we have done f all?. don't understand.

lizard
Unless you have the maximum amount of shares you want in GOO then it's a good time to top up.

driver i have loads!.

lizard
Then sit back and relax its more frustrating watching a stock going up when you havent got your full quoter.

be interesting to see what media post the news?.

Colombia news and the coming 6 weeks should clear the overhang.

The big moves up then start on Peru drilling I think :) Patience....................

v strange the sp has gone more a less nowhere after all the recent news?. ppe has doubled on contract speculation now confirmed jv with goo.7.5p -14p high.

at the moment i just don't get it- we are lower than last yrs high?.

From the Wall Street Reporter magazine. An article aboout the interview with gary Moore

"Gold Oil (AIM: GOO) is focused on finding Latin Americas untapped energy resources. The company has secured its exploration license and is ready to start drilling what Managing Director J. Gary Moore calls a huge 400,000 hectare position in offshore Peru that could contain up to 5 billion barrels of oil. The exploration upside could turn the company into a one-night wonder overnight. Beyond that, Mr. Moore says hes looking for smaller projects, especially those involving stranded gas. We have low cost overhead, he says. This allows us to make profits out of anything the majors wouldnt touch."

tvc15- i think that is 300,000 hectares. about 750,000 acres. website suggest 400,000 hectares 1m acres.

Even better then.

only if it contains anything of value to goo?-

Plectrum Petroleum applies for Australian, UK licences; seeks North Africa block
AFX


LONDON (AFX) - Plectrum Petroleum PLC has applied for a licence to develop two exploration blocks in south-west Australia and is in negotiations to buy further exploration acreage in North Africa, the company said at its AGM.

The company also said it expects to make a licence application in the UK 24th Licensing Round, which closes in June.

Earlier this week Plectrum Petroleum PLC said it signed a joint venture agreement with Gold Oil PLC to explore for oil and gas off the northern coast of Peru.

newsdesk@afxnews.com

har



COPYRIGHT



Copyright AFX News Limited 2005. All rights reserved.

The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.



AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited