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

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

Cheers lizard

June 2006
The site has been prepared and the equipment has all been delivered. The rig is 90% rigged up with the well expected to be spudded in early July. Operations were delayed slightly due to overrun operations on the previous well, routine maintenance on the rig and mobilization difficulties.

i think despite the delays they have done well to get the set up to this stage in a short period of time.

must be due an update on brazil blocks and nancy.

Plectrum Petroleum PLC
10 July 2006


For immediate release: 10 July 2006

Plectrum Petroleum Plc ('Plectrum', 'The Company', or 'The Group')


Plectrum and Gold Oil invited to enter final negotiations for an Exploration &
Exploitation Contract covering Block Z-34, Offshore Peru

Plectrum is pleased to announce that the Company, together with its AIM listed
joint venture partner, Gold Oil Plc (Gold), has been invited to start exclusive
negotiations with Perupetro S.A. on the details of an Exploration Licence
covering Block Z-34, offshore Peru. This follows formal notification of Gold as
an approved offshore operator and Plectrum as an approved contractor. It is
expected that the contract will be signed and approved by Perupetro within
weeks, with formal approval by the Minister of Energy and Mines sometime later.

On 8 June 2006 Plectrum announced that it had agreed to form a joint venture
with Gold in respect of Block Z-34, jointly giving notice to convert Gold's
existing Promotion Agreement into a 30 year Exploration & Exploitation Licence.
Final completion of the transaction was subject to the qualification of both
companies as approved contractors and the negotiation and approval of the
Exploration Licence terms by the Peruvian authorities.

Mike Evans, Plectrum's Chief Operating Officer, commented:

'This is excellent news for Plectrum in our new joint venture with Gold. I look
forward to speedy negotiation of the contract terms so that we can become
operationally active as soon as possible.'

For further information, please contact:

Plectrum Petroleum Plc Tel:01330 826 710
Mike Whyatt, Executive Chairman
Mike Evans, Chief Operating Officer

www.plectrum.co.uk


Corporate Synergy Tel:020 7448 4400
Oliver Cairns
David Seal

Aquila Financial Ltd Tel:020 7202 2600
Peter Reilly
Vivienne Macey

www.aquila-financial.com



Notes to editors

Block Z-34 sits in the prolific Talara Basin which has produced to date in
excess of 1.7 billion barrels of oil and 340 billion cubic feet of gas(1). The
3,713 km(2) block (equivalent to 14 North Sea Blocks) sits adjacent to existing
producing concessions in water depths of 100-3000m, yet has a sparse existing
data set of just 500km 2D seismic. The initial work programme will be to acquire
a conventional modern 2D seismic grid and enhance these data with Electro
Magnetic (EM) studies.

Plectrum Petroleum Plc is an AIM listed exploration and production company.
Plectrum's strategy is to seek out offshore exploration activities around the
globe that can be significantly de-risked before drilling by the application of
innovative technologies such as controlled source electromagnetic (CSEM)
imaging.

Since incorporation, Plectrum has focused on researching and quantifying a wide
range of acquisitions and establishing the Company as an industry player. A
number of applications have been made, and are in progress, for rights to
exploration acreage around the world including in the UK, Latin America and
Australia. In June 2006 Plectrum announced it had conditionally acquired a 50%
interest and operatorship of the Nabeul Block, Offshore Tunisia.

Note 1: Higley D (2004), The Talara Basin Province of Northwestern Peru:
Cretaceous-TertiaryTotal Petroleum System: U.S. Dept. of the Interior, U.S.
Geological Survey Bulletin 2206-A




This information is provided by RNS
The company news service from the London Stock Exchange

good news- excited about Z34 Talara Basin. 1m acres is a vast block.
look at the map.


http://www.goldoilplc.com/peru3.html

Nice bit of news I have put it in the header.

10/07/2006 Plectrum and Gold Oil Exploitation Contract Block Z-34

market reaction = zzzzzzzzzzzzzzzz ...... he writes cynically

Tomorrow is always another day !

cynic- your constant negative reaction is getting boring.

this is a positive step in the right direction and all part of converting the perupetro agreement of Z34 into a 30yr e and p license. a very interesting area in talara basin peru.

lizard
cynic is just cynic GOO rose today 6% that's not negative.

some large trades going through at mid price!.

Spread online is 6p - 6.25p

Hey guys (and gals) - please forgive my continued ignorance, what is spread and what is it's significance on the share price?

spread is the difference between bid price and offer price. this is set by market makers who move the spread to make a market.

you as a private investor can trade within the spread for example gold oil spread is 6.00 bid - 6.75 offer. you have to pay the offer to buy from a market maker.

although the spread is offer is 6.75p you can purchase goo for 6.45p this will vary between brokers online or phone.

most aim stocks trade a wider spread as price volatility is more frequent unlike say ftse100 stocks where the price movements are less mad.

Two chunky Broker to Broker trades, somebody wants the stock, hopefully a good sign.

gbrown:

The spread is the difference between the bid and the offer. Quite often the spread you will see quoted is not the spread at which you will be able to deal, it is usually a lot tighter. However a wider spread generally discourages buyers, particularly day traders as they will need a signficant movement in the SP to turn a profit. Actually it discourages everyone, because if the spread is 10% for instance, you will then need a movement of that 10% plus the percentage you pay for dealing charges / stamp duty just to break even. Generally when there is significant interest in a stock the spread will close to encourage dealing, both sellers and buyers.

pth

oops, posted at the same time as Lizard

pth- i can live with 10% on aim stocks it has moved to over 23% in the past which would certainly put me off. i wonder when they will announce brazil acquisitions?