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

Is it from November NBM profits should increase with increased interests? If so Z34 funding maybe not such a worry..

explosive.
as soon as we take over NBM permits are due to re enter 5 wells on the Burdine Oil field. so we are looking for short term production increase/ cash flow.

good to see some 'lower' risk stuff about to start. a good combo with medium -high risk plays.

Yep I think so lizard

Some photo's of the site clearing for the rig placement at Rosa Blanca license Colombia.


http://www.osageexploration.com/s/PictureGallery.asp

Thanks Lizard , nice to see it's coming along! I topped up yesterday with 120000 , think this has bottomed hopefullly!

There was a presentation in the city last night and over next few days.
so may be put on website?.
Some interesting figures put on NBM and Azar ('lower' risk assets).

Gold Oil presentation.

http://www.proactiveinvestors.co.uk/archives/documents

interesting read.

More info on Reserves.



http://www.growthcompany.co.uk

Thanks Lizard , an interesting read!

lizard
Cheers, Gold Oil presentation now in the research Page..

http://www.moneyam.com/InvestorsRoom/posts.php?tid=10572#lastread

thanks driver.

Quite a few things happening for Goo still in 08 into 09.

Latest news , IP has been buying even more , another 20 million! Nice to have his cash!

He's decided to average down, maybe? He must hold quite a few in the 8-12p range. Hate to think what his notional loss is at the moment.

Going in the right direction at last.

Appointment of Fox-Davies Capital as Broker

http://moneyam.uk-wire.com/cgi-bin/articles/20081029070300H4143.html

Annual report out 07.00 hrs this morning.
Haven't had time to read it yet, but I assume the conclusion is positive, hence the slight sp rise.

A nice couple of large Buy's an hour ago !

I think you will find they were rollovers???

Cape , thanks i thought things might have started to pick up !

Had they been buys we would have had a tick up at least.