Gold Oil has just been floated on Aim and is involved in the exploration for oil in the Americas. The company has just signed an agreement with PetroPeru for exploration in the north of the country and also they have signed a memorandum of understanding with MAN Ferrostaal of Essen, Germany for the evaluation and feasibility study for a more than 200 mln stg petrochemical plant to be constructed in northern Peru.

Following the release of this news AFX commented that brokers believe this could potentially be huge for Gold Oil.

SEEMS TO HAVE DONE SOMETHING ON THE BACK OF THIS SUMMARY AND INTEREST.

FOR IMMEDIATE RELEASE 7 February 2006



Gold Oil Plc


Award of Engineering Contract and Issue of warrants to Contractors

Gold Oil plc ("The Company") announces the award of an engineering contract to
Conex S.A.C. for the drilling of an exploration well in Block XXI onshore the
Sechura Basin in Northern Peru.

The Company anticipates commencing drilling the first well on Block XXI in April
/May, once Ministry approval of the licence is received. The cost of drilling
this well will be met from the Company's existing cash resources.

Conex S.A.C. is a local Peruvian company whose staff has been involved in
exploration in the Talara and Sechura Basins for over 35 years. The scope of the
contract is to manage the well from prognosis to completion under supervision of
the Company. As part of the Board's policy of providing performance based
incentives Conex has been issued with 2,000,000 warrants to purchase Ordinary
Shares of 0.025p each in the Company. The warrants are open to exercise on or
before 30 January 2009 at a subscription price of 6p per share.

ENQUIRIES:

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

slow but heading in the right direction- lets hope drilling proves positive?. we could also and should be due an update on offshore talara b block.

;

http://www.timesonline.co.uk/article/0,,2097-2024826_2,00.html
the guy who wanted the sunday times recommendation article here it is.

some decent buys going through @around 6p. the level at which conex have their warrants.

http://www.goldoilplc.com

drilling not far off now! time to buy more imo.

i am starting to feel like billy no mates on here!- i guess with time we will see a lot more interest amongst the discussion. this is a good time to buy gold oil.

Hey 'billy' it's like talking to yourself, don't worry as the sp increases more investors will post here. I'm a watcher at present.
2517

2517george- how can you watch this stock it imo is certainly worth backing. drilling april/may. get in while you can at sensible levels- who knows where it will be in the summer?. risky punt but potential is very encouraging!.

Lizard im with you on this one. Have held for over a year and topped up last Monday. Definitely a good buy. imo

lizard, i'm also in now, I have watched the buyers long enough, especially yesterday and decided to have a punt, would have been cheaper if I had got in earlier, so good luck to all.
2517

welcome aboard 2517- watching is like going to a ferrari dealership without the money.
i expect this board will become ever more popular through time.

Just bought 75k.

mactavish, hiya I've enjoyed your posts on Yoo and hope to do the same here on Goo, let's hope Goo progress quicker than Yoo.
2517

Gold Oil PLC is a newly-incorporated company that has been established in order to identify and acquire projects in the oil and gas sector, with particular emphasis on Central and Southern America, and initially focused on Peru. Such projects may be acquired through direct investment, or by acquiring all or part of an existing or newly-formed company or business.

The Company presently faces limited competition, as there are few, North American or European oil and gas companies operating in Northern Peru. This is, however, changing rapidly as more and more companies see the opportunities available.Additionally, the Company will benefit from a low-cost workforce. The Executive has spent the last twelve years working in the region, and believes that they have the contacts and local knowledge to capture and exploit economically attractive opportunities.

The Directors believe that their broad collective experience in the area of mergers and acquisitions and corporate and financial management in relation to small and medium sized businesses will assist them in the identification and evaluation of acquisition opportunities.



The Directors will identify and acquire projects which may be in the exploration phase, or at a later stage of development. Significant acquisition opportunities exist, and the Directors believe that they have the contacts, experience and expertise to exploit such opportunities. Where considered appropriate by the Directors, competent professional advice will be taken on the merits of a project.The Directors see exploration and appraisal of existing discoveries as being a key strategy in the future of the Company.

While exploration value will be built-up by acquiring good acreage on attractive terms, and subsequently conducting sound geological and seismic operations to upgrade the acreage to drillable status, the Company will consider bringing in an industry partner at the drilling stage to reduce exposure to the costs and risks of drilling.

The Directors believe that opportunities exist in many parts of the world which have potential, but where exploration, development and production have lagged behind the more fashionable areas for a variety of technical, market and political reasons. A low-cost acreage position will be assembled, and appropriate technical work conducted so as to upgrade the concessions to the point where a larger company will be confident enough to participate and put-up funds for the drilling and development. In this way, the founders will be able to add substantial value to the concessions while, at the same time, offsetting the bigger risks and financing requirements always inherently present in major seismic programmes, exploration drilling and field development.

interest has not even begun yet!

Oil Prices Rise Above $58 Per Barrel
Thursday February 16, 4:08 pm ET
Oil Prices Rise Above $58 Per Barrel After Steep Fall on Previous Day


WASHINGTON (AP) -- Oil prices climbed back above $58 a barrel Thursday, rebounding after a steep drop the previous day.
Light sweet crude for March delivery rose 81 cents to settle at $58.46 a barrel on the New York Mercantile Exchange. The contract had fallen by almost $2 a barrel on Wednesday after OPEC said energy demand was weakening and the U.S. government said its domestic supplies of petroleum were rising.





Brent crude futures rose 42 cents to $58.57 on the ICE Futures exchange in London.

Gasoline rose 2.76 cents to close at $1.4124 a gallon, while heating oil rose 1.78 cent to finish at $1.6253 a gallon. Natural gas increased 6.8 cents to settle at $7.134 per 1,000 cubic feet.

Until the rebound Thursday, crude futures had plunged by more than $4 since the start of the week, settling below $58 a barrel Wednesday for the first time in nearly two months.

"The recent falls have breached so many technical barriers, that it is hard to see where the new support level is. But we see very limited further downside for crude," said Lin Hui, senior analyst at China International Futures.

Oil market concerns about Iran, OPEC's No. 2 producer, have dissipated somewhat but have not entirely disappeared, and analysts say the mid-winter price drop could easily be followed by an early spring rally.

Barclays Capital said in a report that although the twin issues of Iran's nuclear ambitions and violence in Nigeria are temporarily off investors' minds, there is increasing pessimism that these situations will be diplomatically resolved.

In its weekly petroleum supply report, the U.S. Energy Department said crude oil inventories grew last week by 4.9 million barrels to 325.6 million barrels, or 11 percent higher than a year ago. Gasoline inventories increased by 2.2 million barrels to 225.5 million barrels, or 2 percent above year ago levels. The supply of distillate fuel, which includes diesel and heating oil, rose by 900,000 barrels to 136.9 million barrels, or 14 percent than last year.

The agency's report said gasoline demand over the past four weeks was 1.8 percent higher than a year ago, while jet fuel demand over the same period was close to 1 percent higher.

Tobin Gorey at Commonwealth Bank of Australia noted that the build in gasoline stocks has raised the safety buffer for any potential supply disruption, and believes talk of an OPEC quota cut is likely to grow.

Venezuela's oil minister said Thursday that OPEC should cut output at its next meeting. "Everyone is building inventories, Japan, the U.S., and that is very dangerous," said Oil Minister Rafael Ramirez. "There is an oversupply of one million barrels a day."

The Organization of Petroleum Exporting Countries said Wednesday that crude oil demand will grow at a slower pace this year as uncertainties remain over economic growth in the U.S. and Asia.

In its monthly market report, OPEC trimmed 2006 global oil demand to 84.64 million barrels a day and slightly lowered its demand growth forecast for the year to 1.57 million barrels a day.

mac- big post can't see anything to do with goo there?. or relevant to. we have not even drilled yet so the price of oil at this time is not that important.