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

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

looks good indeed, definately long term lad though

at least we have a structured timetable now for colombia nbm and peru sechura basin.

Application, in conjunction with Gold Oil Plc.

http://moneyam.uk-wire.com/cgi-bin/articles/200605241206585014D.html

yes but they are asking for the money -good show.

More good news today the sp is still to low with all the news we have had lately it's a good time to top up at the moment IMO.

lizard

PPE have held up well through this volatile market. Are you in both GOO & PPE? I see PPE have about half the number of shares in issue compared to GOO. I hold GOO & CHP. What do you know about PPE, no thread here?

don't hold ppe- i think they are performing well because they have or potentially have less exposure to s america unlike goo. interesting to see mkt reaction to elections as this could be holding investors off goo. you will note goo have listed cuba to target areas on website.

lizard,

Thanks, I'll have a re-look at the website. Cuba, my that would be interesting in political terms! They would have the CIA all over the company ;-)

i have looked at the other website and think they may have another block not yet released into mkt. block XVI i will post the plan from goo website.
http://www.goldoilplc.com/newmaps.html

click on detailed map of peru assets.
block XVI not confirmed by rns but now on goo website.

the history of the block BPZ had a two year license on the block from dec 03 obviously expiring in dec2005. so have goo purchased this acreage?.

do they own block XVI?- i suspect if they do we will get an rns soon.

Lizard,

A search on google: Gold Oil Block XVI turned up the following link

http://www.buyusainfo.net/docs/x_9274223.pdf

to a 20 page article on Peru: Oil & Gas Field Machinery dated 12/12/2005

Page 9 has Table: Other Contracts (as of April 2005) and states that Area/Block XVI had been allocated to BPZ Energy Peru (100%) for 24 months from Dec 2003, so ended Dec 2005.

Table also includes:

Gold Oil (100%) Area XI Sechura Basin Oct 2004 for 24 months

Golid Oil Area Z-34 Talara Basin Feb 2005 for 15 months

So question remains as to who holds licence now??

If I'm reading the map correctly then Block XVI is on land also.

thats the point silvermede- its on goo's website and highlighted as their acreage?. if the license of bpz exp in dec2005 it would knowing perupetro take this long to renegotiate with another operator.

?.

Gold Oil PLC
25 May 2006


FOR IMMEDIATE RELEASE 25 May 2006


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

Shareholding


The Company was informed on 24 May 2006 that at the close of business on 23 May
2006 , Man Financial Limited has an interest in and is the registered holder of
12,905,000 Ordinary Shares of 0.025p each ('Ordinary Shares'), representing a
total percentage holding of 3.54% of the Company's issued share capital.


ENDS


Enquiries:

Michael Burchell, Chairman Tel: 01372 361772

Roland Cornish, Nominated Adviser Tel: 0207 628 3396
Beaumont Cornish Limited




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

Man Financial's last reported holdings were 11.6m, so they have increased holding by 1.3m shares

Wonder why they always release news after hours or in the afternoon seems stupid to me?

i want to know if they have another acquisition to report ie block XVI?.