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

another drill in 07 then at no cost.

Gold have done well , in my book a good deal!

its a free ride initially- the 90% award terms required gold to cover drill costs (hence no acquisition fee) now they have farmed out the risk.

funds in place will cover XXI drills (two+).

and perhaps some will be put into Cuba if they can secure the licenses?. (this is very interesting imo- hopefully they can pull it off).

MNT agm tuesday- may get some feedback on current negotiations with Cupet?.

This will go higher on Monday hopefully if the Markets reverse.

hopefully after i buy some. if it werent for a certain broker id have bought friday.

going to be some action in goo at last. hectic schedule second half.

slow or what- shall i shall i not?.
surprised no interest this am.

some detailed info on Cuba on the other thread. mnt agm today.

could do with an update on all. anyone been in touch recently?.

promise i'm not gloating, for there is nothing to gloat about in these markets unless you have a load of shorts ....... a wry comment merely relating back to something written a few days back ...... of the two total crap companies, at least GOO is standing up better than AMER - or at least not falling over

yes but AMER STILL has a higher mkt cap than goo at this stage. please explain someone?.

their crap is higher quality!

i think not!.

merely suggesting as to why .... lol!

news just out on san alberto

its on the website.

"Further to the announcement of 9 May 2007, Gold is pleased to
announce that the Contractor, "Siberian Geophysical Research
Developer Limited Liability Company" arrived in Piura on 17th August,
and is calibrating its equipment and will start the DNME
(Differentially Normalized Method of Electro Investigation) survey on
or about the 23rd August. It will take at least two months for
recording raw data and one month for processing and interpretation.

Simultaneously Gold's land based gravimetric survey team has been in
Piura for one week and calibrations are complete and the survey
started on the 22nd August.

Results of these two surveys and past data will be integrated and
interpretation of these data should be ready at the end of November.
Planning for future wells can then start."

6p- mmm.

thinking of increasing again at these levels. decent expanding portfolio of low to high risk assets (gauged also in potential).

progress has been slow but drilling activity will increase in remainder of year into 08. the deal with cupet looks very interesting.

may get 6p at this rate. that would be good.

missed 6p may get some monday.