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

I cant believe the sp dropped to 7p as soon as the rns was out,my heart sank as i began to read it,by which time the sp was up again,i wonder which bit the mms did not like before it was marked up again.

perhaps that Nancy output was down. for shut in reasons. as first on an otherwise bullish note.

Yes Lizard ,perhaps they just saw thosw two words shut down and panicked!
Good to see you posting.

Still holding also... Interesting times ahead, the RNS wasn't anything we haven't been expecting, nice to have a little tick up though on the back of news.

FOR IMMEDIATE RELEASE
15 April 2008


GOLD OIL plc ("Gold" or "the Company")

Ayoleungo oil field disposal

http://moneyam.uk-wire.com/cgi-bin/articles/20080415070100H9159.html

Research Page updated with the latest new on Credit Agricole Cheuvreux International Limited 4% down to 3.97% hardly worth a mention.

JUst announced. What does it mean?

"A Price Monitoring Extension has been activated in this security.

A Price Monitoring Extension is activated when the auction matching process would result in an auction price that is a
pre-determined percentage above or below the base price. The auction call period is extended for 5 minutes."

Price monitoring

Automatic price monitoring capability that is used to limit extreme price deviations.

Does anyone know what we might expect the next piece of news to be, and when?

ShareCruiser
Could get an update at any time on the following Burdine XXI Azar Rosa Blanca, it's just a waiting game meantime oil keeps rising.

How Much Higher Will Oil Prices Go?

http://research.cibcwm.com/economic_public/download/feature1.pdf

The Bid price is holding up well considering the amount of selling over the last two days! Maybe as Driver says their is news due pretty soon!

driver agree with your update timeframes.

Web site updated today , San Alberto 2 , hoping to drill in late May or early june!

at last they have received the permit to drill.

Lizard,would an RNS be required for that?

think they will issue one when exact dates are secured.


at least they now have a permit and a rough idea when drilling will start.

Looks like the updated website is doing the rounds!!

Can someone enlarge on what this San Alberto 2 is?

its the name of the proposed well on their Block in Northern Peru XXI.
have received permit to drill -to start within next few weeks.

Nice bit of blue today ahead of drilling.

Status

Apirl 28, 2008
On the 24 April, the company received final approval of the enviroimental impact assessment for the proposed well location for the San Alberto 2 well. Work will begin on the drilling platform within the next few weeks, and all the equipment and materials for the well have been procured. A suitable drilling slot is being targetted for late May, early June.