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

markusantonius,
Re: Post 2724 of 2758 Lizard, refering to good post 15702 Pembury on Advf.

Lizard is referring to himself as he is Pembury, has ramped GOO over there for the last year. Like a broken down record player, just repeats the same old stuff over and over, day in day out. Not sure which Broker he works for. !

safety- have no idea what you are talking about. i usually post what penbury puts on advfn as he seems to talk to moore a lot. its good info and thought it would be useful over here. perhaps you need to get out more if you are trying to link posters together.

why the spread?.

Lizard,was about to ask for your ideas on the spread but see you are asking the same question.

Lizard,
If you post what "Pembury" posts on advfn on a regular basis then why call him "Penbury". which you have called him a couple of times, its no typing error, you are throwing in a little "red herring" so that other posters don't recognise you as "Pembury". I have watched you for a year now, so I know you as "Pembury" from ADVFN, along with one or two other alias you use. Yes perhaps you are right, I should get out more ! but then I would not have spotted that we have a "rogue poster" working on two Bulletin Boards, perhaps you are on more.

ok safety. whatever you believe.
you are right peMbury my mistake.

could do with some news.

Only if it's good.
2517

Much better day for goo today if i DARE to say,2517

On your head be it. (ha! ha!)
2517

Look at the last 6 trades,not seen that for a while!!!

I grew up in pembury in Kent, near Tunbridge wells... But it wasn;t me - I wouldn;t know how to ramp if I tried.

Who is ramping??????

safety
It really doesnt matter who anybody is no one knows, as long as the research is factual and not lies then whoever posts its content will be beneficial to the rest of us. If GOO were rocketing you would be praising lizard and Pembury who ever they are not having a goo.

Well said Driver, this thread seams to have become more about wild speculation than eductated assesment of late. Lizard any further thoughts on the averages for NMB?

Currently NMB production averages 684 bopd
Ayoluengo averages 110 bopd (GOO 11.25% stake) 12.4 bopd

Total average bopd 696.4 @ $50 a barrell, I make monthly revenue $1.059m, after Burdine & Maxine workover where do you think well be. Also has Nancy been fitted with purchased rather than rented pumps and tanks yet?

explosive
From the research Page in the header.


The first phase was the re-entry of the Nancy 1 well which is now producing at
between 245 and 835 bopd of oil. The average production over the first month to
date that included many shutdowns to tie in gas handling equipment was 485.6
bopd. With increased confidence in the Nancy well, much of the onsite rented
equipment (such as pumps and tanks) is now being replaced with purchased
equipment. The Company's working interest is 40%.

Driver, my 684 figure in respect to Nancy, Burdine & Maxine was taken from the 10/01/07 update advising the December daily average. Your 245 and 835 figure is from the 03/11/06 update. Lizard can you please confirm NBM working interest.

"The royalty is 20% before Ecopetrol takes a 41% share with no contribution to either capital or operating costs." Who else takes a share and do they contribute to capital or operating costs?

explosive
Sorry this is the bit I was pointing out.

much of the onsite rented equipment (such as pumps and tanks) is now being replaced with purchased equipment.

explosive. goo av. for nov and dec on Nancy1 was about 700bopd. they plan as i read it to re enter and do workovers on 6 existing wells on the fields. goo have 40% interest in nbm colombia believe. i also read from the website the blocks have further exploration upside which is important.

Lizard , thanks for that reminder on the workovers that should happen later this year! Hopefully this will give the SP a much need boost upwards again.

mcgrath- they are due to start anytime now not later in 07.