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

I must admit the 10% stake Iraj Parvizi now has is a sizable chunk of the company he must be very confident or stupid either way its good for GOO

1.mill buy after close,another ,25/.50 up 2morr

parvizi increase may get a mention in media it did last time keep an eye.

if we get exciting news-won't he be open to accusations of insider dealing? How long a gap should there be before anyone can be investigated? perhaps being a large investor already he would not be at risk. anyway I only got back in this week so I'm well pleased.

i think the signs are out there anyway. he's been buidling a stake for a while but has bought another 15 odd million recently.

Gold Oil PLC
03 November 2006


FOR IMMEDIATE RELEASE 3rd November 2006



GOLD OIL EXTENDS ITS MOU WITH MAN FERROSTAAL AND COMMITS TO PHASE TWO OF THE
NANCY, BURDINE AND MAXINE FIELDS IN COLOMBIA

GOLD OIL EXTENDS ITS MOU WITH MAN FERROSTAAL


Gold Oil has signed a second extension of one year to its existing MOU with MAN
Ferrostaal of Essen, Germany to evaluate the feasibility of developing a
petrochemical plant in Northern Peru. Under the terms of the MOU, MAN Ferrostaal
is responsible for evaluating the petrochemical plant and Gold Oil is
responsible for evaluating the gas supplies and pipeline transportation options.

The MOU envisages several phases of development with Gold Oil having an option
to participate in the petrochemical plant and MAN Ferrostaal an option to
participate in the upstream gas supply.


COLOMBIA

The Company has, together with its partners in the Nancy, Burdine and Maxine
Licence, advised Ecopetrol, the state oil company in Colombia that they intend
to proceed with the second phase of the licence. A development work programme
and budget is being prepared now for the re-entry of the Burdine 1, 4 and 5
wells.

The first phase was the re-entry of the Nancy 1 well which is now producing at
between 245 and 835 bopd of oil. The average production over the first month to
date that included many shutdowns to tie in gas handling equipment was 485.6
bopd. With increased confidence in the Nancy well, much of the onsite rented
equipment (such as pumps and tanks) is now being replaced with purchased
equipment. The Company's working interest is 40%.

Note:

Mike Burchell, B.Sc., 66, has over 40 years experience in the oil and gas
business. He has read and approved the technical disclosure in this regulatory
announcement.

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



NOTE TO EDITORS


The NBM area lies in the South West of Colombia in forested jungle some 100 km
from the Ecuador and Peruvian borders. The area is surrounded by many producing
oil fields and some access roads needed to be repaired before the rig could
reach the Nancy area. The target reservoirs are at depths mostly less than
10,000 feet. Oil export infrastructure lies some 13 km to the west and initially
the oil is trucked to the pipeline entry terminal, operated by Ecopetrol.
Depending on production levels, a pipeline may be installed at a later date. In
the past there have been some isolated cases of terrorism, but with many
companies operating in the area for years without any trouble, more and more
companies are looking to enter the area.



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

Anyone an opion on the RNS

It's headed updates on Peru and Columbia!!!!!

Yet nothing on Peru is part of the RNS missing?

solid. NBM looks good for progress and the MOU signals confident of gas.

lq- the MOU with MAN Ferrostaal is for block XXI .Peru.

Sounds positive and they are buying their own equipment and creating a platform, so they must know something is good and worth doing!

Laurie,
dont know copied/paste as was published, believe there is a v. small ref to peru in the first paragraph.
market seems to like the news, WDIK
Alex

can you not read?.

robertalexander
I agree it looks like it's in the first paragraph so we are still waiting for more news on Peru. Colombia is looking very positive with the re-entry of the Burdine 1, 4 and 5 wells. It only gets better.

lizard
Behave

sorry. i believe the MOU is to build a 200m gas plant.

If I only knew what the sp would be in 1 years time ? any ideas ?

Research Page updated (in the header)

GOLD OIL EXTENDS ITS MOU WITH MAN FERROSTAAL AND COMMITS TO PHASE TWO OF THE
NANCY, BURDINE AND MAXINE FIELDS IN COLOMBIA

http://www.moneyam.com/InvestorsRoom/posts.php?tid=10572#lastread

to my mind, the info re Peru does not carry much excitement ...... however, buying expensive kit for Colombia certainly shows both commitment and considerable expectations ..... quite what level it is now reasonable to expect for sp is too difficult for me to estimate ..... for sure, if the lemmings get hold of this, then it will rocket way beyond sense

I think this news is disappointing, but that only goes to prove that my expectations were too high. I can see this slowly dropping until the next rns.

Then you wont have long to wait Harry, maybe this afternoon if youre lucky ;-)