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

RNS Number : 2044E
Gold Oil PLC
24 September 2008



FOR IMMEDIATE RELEASE

24 September 2008

Gold Oil plc

('Gold' or the 'Company')

Termination of Offer Discussions







On 16 September 2008 the Company announced that it had received an approach from a third party which may lead to an offer being made for the Company. The Company has now received confirmation from that party that they are no longer interested in making any such offer. Accordingly the Company is no longer to be considered as being in an Offer Period under The Takeover Rules.



GOLD OIL PLC
Michael Burchell

Tel 01372 361 772



Beaumont Cornish Limited
Roland Cornish

Blue Oar Securities
Jerry Keen

Conduit PR
Jonathan Charles Tel: 0207 628 3396

Tel: 0207 448 4492


Tel: 020 7429 6611











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

END

could even be that Mr P has enough and is bailing out

why am i not surprised

Yes you could be proved right , this will take some exceptional news to lift this back up again!

Thank goondess for these bottom fishers!

good good.

Now this recent disappointing news is out , could recover in next few days ?

in your dreams, though God's ear would be better!

mcgrath SA2 yes, offer no imo.

Cynic , yeah big disapointment i admit , and Lizard can't be any more pisssing around!

no- this was the riskiest well imo, but some better chances of success coming up now imo with the other plays in Colombia,
Burdine, Azar and Rosa Blanca.

Have we any idea when the next set of results are due?

results on all three Colombian assets this quarter.

12 well programme with Peru (two workover wells).

good share not. if the poker player decides to get out this is 1p.

i binned mine the other day ..... no oil and no bid either

Profit held in shares so will continue to hold

Hold for me. Long term but now with only a small stake. Cuba may be the ace!

Up she's goes , about time we had some good news from Gary! Maybe it will be a better Xmas than we expect !

Nice Update and sp rise.

http://moneyam.uk-wire.com/cgi-bin/articles/20081013080100H9076.html

encouraging news driver 100% of Z34.

http://mirror.perupetro.com.pe/exploracion02-e.asp

got this info of other BB. Petroetch's Z6 recently discovered 1.1Bn Barrels of Oil. All adjoining blocks produce Oil and gas.

Shell just farmed into BPZ Energy acreage (North of Z34) at a cost of $300m for 50% interest.



new staff- Colombian Country Manager in place, a lot of activities about to start in this region.
Take over NBM operatorship Nov1st with majority control (about 60%). Rosa Blanca drilling Q4 08.