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

mistake just one rns out saying gold oil rallies half a pence on speculative drilling results.

sorry, beat ya to it... ha

could it be the SA-1X report has leaked?. there has been 14m broker to broker trades in two days.

would be good to see the media get something right for once.

Please explain.

What does "drilling at a higher level " mean?

sc- block XXI SA-1X exploratory well .

there are two reservoirs one is the Palaeozoic (the lower zone) which is at around 5000ft above that you have the Verdun reservoir (the upper zone).

worth noting that Palaeozoic produces oil on surrounding blocks and Verdun produces gas on neighbouring blocks.

Thank you Lizard.

Interesting article,rigzone.com,re goo

Capetown sounds very good!

http://www.rigzone.com/news/article.asp?a_id=42221

"Gold Oil CEO Thomas Tidow declined to comment further when contacted by BNamericas."
I don't mean to be sceptical, but if this is a move forward for GOO, why would he not a least be a little bit upbeat about it?

Harry could it be that it would be price sensitive?,after the last episode where good was released minutes before bad maybee he is being cautious?

Can anyone tell me when the next drilling report is due?

It's been done we are waiting on the RNS any time! But still waiting.

XXI SA-1X report- yep still waiting on what goo will do next.

lets have it goo.

Good find I have put the link on the Research Page, Research Page Link is in the header.

Perupetro to Sign E&P Agreement for Z-34 Block March 8 2007

driver i dont think goo will rns this or i hope they dont. we have it that they now have a 30yr license on Z34. now lets get some news on XXI,NBM,MNT deal, Expl license,Brazil etc more important things short term.

Z34 is a way off yet imo.

the trade chart is showing that there have been no buyers today for gold oil, do you not find that a bit strange. what do you think?

janetbennison
Some were buys it's just the way it's reported.

the buys were @mid 7.5p on a quiet day.