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

doh! they bin drillin oles in t' ground ..... where do they think it came from? ..... rig's leaky sump perhaps?

jb- this is not goo's block its a neighbouring block of bpz's. therefore the structures maybe different. as this find was only this week i expect more info will come out and you would think goo will get as much data as they can to relate to XXI.

however this is an interesting find. the depth would suggest target was gas but found oil in the upper levels.

Research Page Last updated 10 Mar 2007

The mention on XX1 to the strange find of oil may be preparing us that they want to conduct all reasonable surveys to confirm the possibilities. Especially as other nearby fields show anomalies.
I am happy for this safer option to further firm up details.

The mention on XX1 to the strange find of oil may be preparing us that they want to conduct all reasonable surveys to confirm the possibilities. Especially as other nearby fields show anomalies ("mysteries").
I am happy for this safer option to further firm up details.

http://www.bnamericas.com

Z34 signing off on friday.

lizard
A bit mystified on this bit can you explain.

In the meantime BPZ, has discovered a low viscosity 22API oil that flowed at 3000 bopd at only 6000 feet in a block to the North of Block XXI, when the target was gas. Quite where this low API oil is coming from is yet another mystery of the petroleum systems in North West Peru.

driver what dont you understand?.

lizard
Sorry am I being thick,
BPZ? and isn't this a significant find, and what is low viscosity 22API oil is it useless.

driver BPZ Energy Inc (Texas Based) listed on AMEX (American Stock Exchange). have over 2m acres in Peru. yes this is an important find only the other week. hopefully goo can learn from (when info gets out) this and translate any relevance to XXI it may or may not have?.

well tested @ a rate of 40 Million cubic feet per day (MMcfpd) of Natural Gas and 3,150 Barrels of Crude Oil per day (bopd).

lizard
Cheers.

Certainly interest is picking up again,a good start to monday am.

8.25 seems to have killed it for now.

have looked at the chart and concur that 8.25 looks a pretty stern hurdle ..... at least rsi remains undemanding .... on the other hand, shareholders are rightly demanding some positive action and news!

Cynic,i think we will break the back of 8.25 today,even if short lived.

if short-lived, then the resistance will not have been broken but merely tested

watch the MM i think again there are buys going through under mid reported as sells.

Lizard i bought a few more last friday and it showed as a sell,you are correct in saying watch the mm,its looking better than of late.

All the 7.97 are def. buys

Mr Parvizi remains confident:-

The Company were informed on 5 March 2007 of the following:


that at that date, Mr I Parvizi purchased 8,050,000 ordinary shares in Gold Oil
and accordingly now has an interest in 55,800,000 of these shares, representing
12.76% of the Company's issued share capital.