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 do not believe it possible to put a realistic value on GOO, even if they strike lucky in Peru with say 1000 bpd (would be delighted to hear from those who can give realistic guidance ...... with that in mind, have merely put in place a trailing stop which, though it may get hit on a single bad day, will nevertheles ensure a decent profit in the bank.

That's what I am trying to do,build up a portfolio of free shares,so far all my shares in GOO are for free now,bought into JKX last week at 301.85p,seriously undervalued IMO.

richard have a look in your email box

R88AVE- they will in no doubt get Z34 either this week or next.and block XVI as a bonus.

cynic- Petrotechs 1st exploration well (wildcat) on Z2B (Sechura Basin) initially produced 1200bpd they now have around 6 wells on the block and developing still. Z2B currently produces 12,500bpd and 70MMSCFD gas.

1000bpd from San Alberto-1X would be excellent. the potential for the block?. in terms of scale Z2B is about 200,000 ha and XXI 303,000ha. but depends on what is contained within it?.both located in the Sechura Basin.

Lizard this Z34 is a monster, in terms of size. Been looking at oil production rates at offshore blocks to east of Z34 using Perupetro website. Average is about 830k barrels per month! Looking at the size these blocks it looks if all of them would make up the size Z34. If based on $15 per barrel. That makes returns of something like $149m a year. So this makes the San Alberto small but a bonus really.

Lizard this Z34 is a monster, in terms of size. Been looking at oil production rates at offshore blocks to east of Z34 using Perupetro website. Average is about 830k barrels per month! Looking at the size these blocks it looks if all of them would make up the size Z34. If based on $15 per barrel. That makes returns of something like $149m a year. So this makes the San Alberto small but a bonus for starters really.

But it creates a banker if found to fund the activity!

Absolutely Laurie, I can see the link now, mind you its 50% holding for z34 so no need to fully fund.

http://www.plectrum.co.uk

worth reading ppe's (goo's jv partner on Z34) take on the block. click operations then Peru obviously.

lizard .... thanks all your guidance as always ...... but can you or anyone else make a sensible estimate of what my hypothetical 1000 bpd would do for sp, setting aside whatever "blue sky" lemmings may then add.

no point guessing.
would say anything decent would be significant for goo as they have 100% interest in XXI.

pretty much my non-analytical view too ..... anything between 18 and 180 or 280p!

JB-------I'm pleased you managed to sell some of your GOO shares @ a price acceptable to you, but I tend to agree with cynic (post 2204), that is unless of course you have a portfolio of steady blue chip type shares, and GOO is with your speculative money, ie you won't have to sell the house if GOO doesn't come up trumps. I have been a holder of GOO @ 6.45p so am doing (on paper ) very well, and I will continue holding as I believe there is tremendous upside to come, but also great risk attached, that is the nature of the beast. Many thanks to lizard again and all other posters, good luck to all holders.
2517

have you all sold up, or asleep.

neither ...... just pretending to be bathing in oil (made a change from ass's milk)

i don't think i wont to know wot you are getting up to. do's your doctor know about this. you might get some help for it. try takeing milkthisel, it not cost as mutch as milk.

not much chance of me selling at these levels.

Defo not selling until at least 1, this will be reached within the next 6 months imo

im optimistic but that is a v bullish target BUT potentially XXI and/or Z34 could do it.

Exactly, IF they get Z34 it will an asset to the company worth gods knows how much. We know roughly how much oil is in production to east of this block. Plus its 30 years license. There is so many potential for GOO and it has a chance to go long way imo. Exciting times ahead. Someone on other predicts sp to be at least 25p by xmas.

Reminder of Z34 potential:
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.