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

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

he ain't that old ... unless he has been under the surgeon or pickled in formaldehyde!

The film 70's

Never heard ot it ...... but then Blazing Saddles was almost the last film I walked out of!

cynic- the polls make interesting reading (scroll down). i don't tend to see these as a certainty but a satisfactory situation atm.

http://weblogs.elearning.ubc.ca/peru/

Gold Oil PLC
23 May 2006



FOR IMMEDIATE RELEASE 23 May 2006


GOLD OIL PLC ('Gold Oil' or the 'Company')

DIRECTOR'S DEALINGS


The Board announces that Patrick Mahony, Director, today exercised 575,000
directors' warrants to subscribe for 575,000 ordinary shares at 1p per share
('the Shares'). The Shares will rank pari passu with all existing shares in
issue, and application will be made for admission to trading on AIM.

Following the issue of the Shares, Mr Mahony will own a total of 575,000 shares
or 0.176% of the enlarged issued share capital, together with 1,825,000
directors' warrants.


Contact:

Michael Burchell, Chairman on 01372 361772
Roland Cornish, Beaumont Cornish Limited on 020 7628 3396



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

FOR IMMEDIATE RELEASE 23rd May 2006


GOLD OIL plc SIGNS DRILLING RIG CONTRACT FOR A WELL IN PERU

AND PARTICIPATES IN A WORKOVER IN COLOMBIA


Gold Oil Plc ('Gold') is pleased to announce that it has signed a contract with
a local Drilling Contractor (GMP S.A.) for the drilling of a single exploration
well on Block XXI, onshore Sechura Basin in North West Peru. The well is the
first on the Block and is targeting both gas at less than 3,000 feet in the
Verdun reservoir and oil in the deeper 6,000 feet Palaeozoic. As the block is
huge, apart from searching for hydrocarbons the well is also necessary to set
markers for a future seismic and drilling campaign. The target date for spudding
the well is June 15 which is only six weeks since the Company signed the Licence
with the Minister of Energy and Mines and less than two years since the company
came to AIM.

Gold is also pleased to announce that the Operator (Union Temporal) of the
Nancy-Bourdine-Maxine (NBM) Oil Fields in the South West of Colombia has signed
a contract with a local drilling contractor for working over the Nancy-1 well.
The initial work programme involves re-entering the existing well to install a
jet pump allowing production to recommence from the existing zones and also to
perforate zones previously ignored which will add to production. The work is
expected to start later this month.

Commenting on today's announcement, Gary Moore, Managing Director of Gold Oil,
stated:

Gary Moore, Managing Director of Gold, said 'We are delighted to have been able
to source equipment and resources in such a quick timescale to commence
operations in both Peru and Colombia in a very demanding market Results from
each operation should be known within 2-3 weeks from the commencement of
activities on each project'.

ENQUIRIES:

Gary Moore Managing Director; Tel: 01737 833597
Email:
gmoore@goldoilplc.com

Mike Burchell Chairman; Tel: 01372361772
Email:
mikeburchell@hotmail.com

Roland Cornish Beaumont Cornish Limited;
Tel: 020 7628 3396



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

Interesting that RNS came just after market close, presumably intentionally ...... Guess that should be pretty bullish for the shares, but for those who follow MDA charts, I think I have read right that there is a fair resistance at about 6.50 ....... Comments anyone?

Cynic - I hate to say it but your right, with recent slumps in the oil market I think breaking the 7 will require support from alot of long investors.

This is good news, but apparently it is old news being said again GOO are reassuring its investors and keeping us up to date that cant be a bad thing also to bolster up the sp after such a pig of a week.

Having said that I would disagree I think we will see 7.5 tomorrow, if not there is no rush the sp will keep up with future news flow.

i hold the shares anyway, and will not be topping up as i have enough, but would of course be delighted to see sp heading rapidly north