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

could do with an update- i would expect one soon!.

only available to subscribers to the Active Level and above

Peru ratifies free trade pact with U.S.
AFX


LIMA, Peru (AFX) - Peru's Congress overwhelmingly voted to ratify a free trade pact with the United States early Wednesday following a six-hour debate that was interrupted by a small group of recently elected nationalist lawmakers who burst onto the legislative floor in a show of opposition.

In a 79-14 vote with six abstentions, the 120-member legislature approved the bilateral deal reached between Peru and Washington late last year and signed in April by President Alejandro Toledo's government.

The ratification received the full backing of President-elect Alan Garcia's 28-member Aprista party bloc.

Toledo's administration lobbied fiercely for ratification before Garcia is sworn in July 28, along with a new Congress, which will have a strong anti-free trade opposition led by presidential runner-up Ollanta Humala, who lost the June 4 runoff to Garcia.

About two hours into the debate, several legislators-elect from Humala's nationalist alliance punched and kicked their way past security guards to enter the Congress floor, pumping their fists in the air, waving placards and chanting anti-free trade slogans.

The legislature's president, Marcial Ayaipoma, called a half-hour suspension of the session while the protesters were forced to leave the building.

Humala's fledgling nationalist movement captured 45 congressional seats, but recently lost at least three of them to defections by politicians who said Humala -- an admirer of Peru's 1968-75 leftist dictatorship of Gen. Juan Velasco -- had veered too far to the left.

But his group will still represent the largest single bloc, next to 36 seats for Garcia's party.

Humala maintains the free trade deal, which still lacks a nod from the U.S. Congress, would flood Peru with subsidized U.S. agricultural goods, making it impossible for local producers to compete.

Before the ratification debate began, the legislature approved four projects aimed at making Peru's agricultural sector more competitive, including one measure to offer monetary compensation to Peruvian producers of cotton, yellow corn and wheat.

Ultraconservative Congressman Rafael Rey said that opposition to the pact has little to do with the deal, and everything to do with opposition to the United States.

'The problem is not the free trade agreement. It is not the terms of the negotiation,' Rey said. 'The problem is the United States and it is a purely ideological issue.'

Peru and the United States, alongside Colombia and Ecuador, entered into talks in May 2004 for a deal to lower trade barriers.

The three Andean nations already enjoy preferential trade for more than 6,000 products with the United States through a program aimed at helping countries on the front lines of the drug war, but that agreement expires at the end of this year.

Colombia also reached an accord with Washington earlier this year that must still be ratified.

Free trade talks between Washington and Ecuador stalled last month after Ecuador canceled U.S.-based Occidental Petroleum Corp.'s contract and seized its facilities following a long-standing contract dispute.

rumour has it that goo has been awarded two blocks in brazil with proen.

look at the website progress on colombia and peru.

Its a shame for the people who cannot wait for the news.

I had a reply from the company a few days ago saying that both the Nancy workover and Plataforma San Alberto operations had commenced. They said that they cannot say any more but that we should watch the website for new photographic updates.

A few new photos were added recently:

http://www.goldoilplc.com/reports7.html

http://www.goldoilplc.com/nancy1.html

taken from iii.



..........................JUST ANNOUNCED.....................


http://www.macroworld.net/m/m.w?lp=GetStory&id=203134581

ANP raises US$4.8mn from mature block tender

Released : Thursday, June 29, 2006 6:57 PM

Brazil's national hydrocarbons regulator ANP has raised 10.4mn reais (US$4.8mn) in entrance fees for 11 of the 14 blocks offered in the second tender of mature non-producing oilfields, ANP announced on its webpage on Thursday after the auction.

Of the 55 companies registered to bid, nine were awarded licenses to revamp the onshore blocks for production. Three of the blocks received no bids.

Brazil's federal energy company Petrobras (NYSE: PBR) and Angolan oil company Somoil had registered to bid but were not awarded any blocks.

Brazilian engineering company Proerg was awarded two blocks, Sao Joao in the Barreirinhas basin and Porto do Mangue in the Potiguar basin. The company bid of 4.3mn reais and 337,700 reais respectively.

Brazilian engineering company Proen also was awarded two blocks.

US oil company Koch was awarded the Crejoblock in the Espito Santo basin.

The winners of the other six blocks were the following small local engineering and oil companies: Enegepet, Arclima, Panergy, Cheim Transportes, Genesis 2000 and Sollita.

Copyright 2006 BNamericas.com

Taken from iii.


We have won two blocks in Brazil, our JV there is with Proen.

These are mature blocks, oil IS there but production was ceased for economic reasons when oil was not as profitable as it is today.

Workover then straight into production will be the plan, but relatively small scale production I would expect.

Very good news indeed though.

very good i would say if secured goo a player in s america. some risk off peru!. anyone adding?.

all happening in peru click to enlarge.http://www.goldoilplc.com/reports7.html

sp indicates market is singularly unexcited ...... one day may be!

cynic- it could be because they dont know?. goo have apparently secured two blocks in brazil with proen.

tvc15- any news on what the new blocks are size and potential?

not yet confirmed but lets hope they are decent acquisitions>

Lizard, have not got a clue but will try and find out.

cheers tvc15- i will have a look at the weekend- hopefully it will be confirmed next week!. busy times for goo!

I WOULD EXPECT AN RNS THIS WEEK ON OPERATIONS AND I WOULD THINK NEWS ON ACQUISITIONS IN BRAZIL AND?.

well we understand goo have acquired two blocks in brazil after successful bidding on the mature oil fields round from anp. in conjunction with brazil engineering company proen goo's jv partner.

so when will they actually confirm?.

Who knows lizard, news is very slow. Personally my eye is more on the 11% spread at the moment. Although GOO seams to have now found its footing in the market.

a decent footing but a seemingly low mkt cap?!. need some idea on potential resources though if any?. STILL lower than last yrs high of around 8p despite acquisitions and conversion of xxi and waiting on z34 30yr e and p license.

i think the brazil acquisitions with proen will prove valuable for goo when they bid in the main licensing round 8 where the bigger plays are. scheduled for aug 28th.

lizard .... as I commented to you on the VOG thread .......... zzzzzzzzzzzz! ..... lol

looks as though spudding of san alberto xxi due to start monday.

http://www.goldoilplc.com/peru2.html