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

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.

Either Monday or Tuesday morning I was watching Bloomberg and the drops were being put down to Hedge Fund sales. This has created an overhang in the market which once taken up will see the resources sector sp return to that of last week. Timing always is an issue and know one knows how long this will take. I think the markets are bottoming out now so a good time to buy.

Map Of Blocks Now in the header

well the map doesn't imo signify the size of this area- i think goo's acreage is about 1m acres (400k hectares) for onshore Sechura and about 875k acres (350k hectares) for offshore Talara Z-34.

i.e 30years exploration license from perupetrol.

lizard
I enjoy the input you give to this thread your knowledge is greater than mine although I am learning keep posting.

Just to put the mockers on this share, I must own up to owning some! ...... Actually, of more importance is the political complexion in Peru ..... We all need to hope that it does not swing too far left to join the likes of Bolivia, as that would be less than jolly.

cynic

cynic undercover.

Much too handsome and young to be me (lol!) ..... Who is it?

No idea looks 70's