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

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?.

is this going to move up or not?

if they have this block? and elections are favourable then i would think so. then we have sechura drilling in june- workover commencing for colombian nbm contract- evaluations in progress on cuba deals- also entering the next bidding round in brazil with our brazilian jv partner. oh and then theres offshore Z34 peru.

The Promotion Permit issued to Gold Oil for Block XI was, in December 2005, converted to an Exploration Licence by Perupetro with a term of 30 years and has been ratified by the Ministry of Energy and Mines. We are therefore planning to start drilling on the block in June 2006. The San Alberto location is designed to test the potential of the gas sands producing to the west in Olympics La Casita gas field as well as the deeper Palaeozoic prospect.

thanks for reminding me,we all need a bit of moral motivation at times.
cheers.

500,000 delayed buy just went through, down as a sell but you could buy 6p online a hour ago, offer now 6.25p online.

Plectrum Petroleum to raise 2.5 mln stg via share placing at 14p each
AFX


LONDON (AFX) - Plectrum Petroleum PLC said it is raising 2.5 mln stg via the placing of 17.857 mln new shares at 14 pence each.

The proceeds raised will be used to strengthen the company's balance sheet to enhance its position when negotiating offshore exploration licenses and farm in agreements, in particular, the Peruvian offshore exploration license Z34, which Plectrum recently submitted an application, in conjunction with Gold Oil PLC.

The placing price is at a 14 pct discount to the closing mid market price of 16.25 pence yesterday.

newsdesk@afxnews.com

ra



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why are they doing so well recently its our license?.

We are getting a good deal here Plectrum Petroleum are having to raise the money to do our work.

i think there is more to fridays rise than plectrum's successful placing.

?.