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

FOR IMMEDIATE RELEASE 2nd June 2006
GOLD OIL PLC ('Gold Oil' or 'the Company')
Placing

Gold Oil announces that it has placed forty seven million (47,000,000) new
Ordinary Shares of 0.025p at a price of 5.5p each, together with a one for two
share warrant exercisable before December 31 2006 at a strike price of 7.5p
each. The new Ordinary Shares will, on issue, rank pari passu with the
existing Ordinary Shares in issue and application will be made to the London
Stock Exchange for these shares to be traded on AIM. It is expected that
dealings in the Placing Shares will commence on 9th June 2006.

The Placing will raise 2.5 million ($US 4.8 million), before expenses, for the
continuing working capital requirements of the Company. The Company has a
number of projects that now require investment to progress them as well as a
number under review. The proceeds of the Placing will enable the Company to
continue studies, shoot selected seismic and drill on prospects identified.
The Board also believe that having a reasonable cash balance readily to hand is necessary to assure government authorities that it is capable of meeting its
work obligations under the various licences and applications as well as
enhancing its ability to move quickly in respect of suitable opportunities that the Company has identified to increase the Company's asset base.

Definetly exciting times ahead. Come on the GOO !

Yes the rumoured placing has arrived, looking good for GOO.

i think we will know monday open who is the new leader of peru. but they will not take over office until end of july so i read.

good news on the placing increase from the last so good progress viewed by the city. funds available for further acquisitions and development of existing contracts.

350k and 500k delayed buys just went thru'.

for what its worth i think goo is tipped in ic this week.

goo mentioned in the sunday times today.

http://www.timesonline.co.uk/article/0,,2097-2209388.html

Sunday times article about GOO.



My recovery hopes are pinned on Gold Oil, the oil-exploration business that is due to drill its first well in Perus Sechura Basin in about three weeks time.

It will be a surprise if there is not gas there. But it will be a company-maker if there is oil below the gas which is what the company is hoping after a recent oil discovery on an adjacent block.

Gold Oil has also farmed out its big acreage offshore from Peru in the Talara Basin and raised 2.4m in a placing at 5p a share. It is expected to use the money to buy more offshore acreage.

There is a lot happening here. A 30m market capitalisation is hardly generous in the circumstances.

lNice one.l
lizard tvc15

garcia in the lead atm-

Peruvians elect Garcia president

Alan Garcia promised to have more women in government
With most of the votes counted in the second round of Peru's election, it has become clear that ex-president Alan Garcia has won a convincing victory.
Mr Garcia polled 54.69% of ballots to 45.30% for nationalist rival Ollanta Humala, with 83.9% of votes counted.

The two men had fought a fierce and aggressive campaign.

Mr Garcia, who served for five turbulent years from 1985-1990, told cheering supporters: "We thank the people of Peru."

We must think this night of all of our past errors, about all our defects and make an act of contrition

Alan Garcia


Election Q&A
Tough choice for voters

Mr Humala accepted defeat but said his nationalist project had secured "an historic political and social victory".

For weeks, the two men vying to be president had traded insults and allegations.

Mr Garcia tried to portray Mr Humala as a dangerous threat to democracy and peace, while Mr Humala reminded Peruvians of the mistakes of Mr Garcia's presidency, which was marked by rebel attacks and rampant inflation.

Mr Garcia won majorities in the capital, Lima, and along the more developed northern coast, but Mr Humala polled well in the southern and central areas.

Many Peruvians can hardly believe Mr Garcia's victory, the BBC's Daniel Schweimler in Lima says.

The former president, always a charismatic speaker, was able to hold the attention of huge crowds, confident and articulate.

His biggest challenge now, our correspondent says, is to unite a politically divided country.

Chavez factor

The new president acknowledged the challenges ahead as he greeted cheering supporters at the headquarters of his Apra party in Lima.

"We must think this night of all of our past errors, about all our defects and make an act of contrition," Mr Garcia told supporters gathered at the headquarters of his Apra party.

No one had been defeated, he said, and promised to work to ensure development in the impoverished south of the country, Mr Humala's heartland.

During the campaign, Mr Garcia frequently referred to the former army officer's involvement in an armed uprising, and has criticised his lack of political experience and his close ties to Venezuelan President Hugo Chavez.

Sunday's result was a resounding No to those who had tried to interfere and influence Peru, Mr Garcia said.


Ollanta Humala went jogging before casting his vote

Mr Humala stressed he would continue his drive to ensure state control of Peru's natural resources and to redistribute wealth to the poor.

"Tomorrow we begin the great national transformation of Peru, the recuperation of our dignity tied to the rescue of our natural resources to put the economy at the service of the people," Mr Humala said.

In their desperation to gain an advantage, Peru's two candidates left a climate of distrust and confusion in a country where voting is compulsory. Many Peruvians said they would not vote for either man and would destroy their ballot papers.

Even more said neither candidate appealed and they would have to decide which of the pair was the lesser of two evils.

Glad to see Peru makes voting compulsory (as it is in Oz) ...... Confess I hold a strong view that if we want to live in a democracy (no arguments about semantics please) then we all have an obligation to ensure that that ideal is maintained by using our vote ..... A failure to do so, in the long term can easily lead to too much power passing to the noisy activist minority, who almost certainly do not represent the interests and concerns of the majority.

22:10 pm Ollanta Humala Conceded
In a very brief speech (no more than five minutes), Ollanta Humala conceded to a crowd of followers and supporters this evening. He recognized all the political parties that competed in this election and said to the crowd that he was looking forward to starting the great transformation of Peru.

My dear cynic,

for whom should an anarchist vote? Turkeys and Christmas.

Aty the very least an anarchist should spoil his ballot paper, but at least that takes an active rather than a passive stance

spoil the paper?
blow up the polling station more like

pleased thats out the way now. not the best result but the best alternative. goo have a very busy few months ahead. newly elected government do not take over until end of july. so hope goo can wrap up Z34 30yr license and further negotiations on XVI.

It is of course something of an oxymoron that democracies have a right to protect their freedoms by suppressing those who endeavour to destroy that structure by actual or incited violence.

Enough of the politics there will be plenty of violence in a few years when all the oil runs out. All the oil companies will be nationalised. In the mean time we might make some money.

at least it is a reasonably sensible discusssion on a very quiet day when virtually the whole of Europe is shut for Ascension