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

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



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f all to do with goo!.

any reason for the drop in SP, the RNS is not really relevant to GOO is it. could it be MM playing with the SP?
Alex

i think they are waiting on the colombia nbm deal news as workover work was due to start on the 5th. could be up and down until confirmed all is hopefully going to plan and producing ?bpd. then they plan to open another 4 existing wells and further explore acreage.

strange day?.

lizard
Warm though.

I was hoping for a few more sellers today, so I could top up around 6p, never got there :(......

Will keep waiting just in case, I want to enlarge my GOO holding, but will keep waiting in case any more bored short terms want to leave.

Talking of short term, had an extra dabble on RIFT today, they now drill down to their main targets, so its that high risk/high reward excitement coming up there :) as it will be here on GOO in June :)

hope to get a positive update on nancy next week?. also i think goo are entering the bidding round early may for brazil licenses who knows?. the peru elections aren't helping goo atm but i hope to see investors return on a more positive outcome?.

Nice 421,052 delayed buy.

In today with a very small buy

explosive
Welcome aboard, not with some of your seo takings I hope.

Oh no, actully bought more SEO this week GOO and RIFT. My entire portfolio has fallen around 11% this week but I see this as only speculation. As your probally aware oil supply is catching demand but this will all change come the winter months. Lets not forget also the yanks are dipping into their reserves which will need replenishing before the winter.

explosive
My portfolio drop is about the same 11% for a strange reason I'm not that bothered agree with you on the oil and see this as a short term dip.