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

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?

pth---- it also means that one broker doesn't want them.
2517

No idea Lizard, but I do feel reasonably confident about GOO at the moment. There is certainly more interest in the company than there was some months ago, reflected in the volumes traded. As always with exploration companies aspiring to becoming producers, patience is the key.

pth

2517

As in all trades (someone doesn't want what they are selling).

But IMHO, it means that the Broker(s) who offloaded didn't have a buyer, whereas the other Broker(s) did. The Broker(s) who bought at 6.50 will obviously turn them over at a premiunm to that price, so eventually it should have a positive impact on the SP when they are moved on. But WTFDIK :-)

pth

well its time to put my money where my mouth is. it is time to get rid of the sensible isa account over the years and put more funds into goo.

http://www.goldoilplc.com/reports8.html

rig now in place on san alberto XXI.

tick up, can only buy 25,000 online but can sell 250,000.

thats me buggered then i wanted to add tomorrow when funds cleared!.

best to just use the phone.

Gold Oil PLC
12 July 2006


FOR IMMEDIATE RELEASE 12 July 2006





GOLD OIL PLC

('Gold' or the 'Company ')


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

and

Gold has spudded its Block XXI San Alberto 1 exploration well


Block Z34


Gold is pleased to announce that the Company has been qualified by Perupetro as
an Offshore Operator and Contractor. With its AIM listed joint venture partner,
Plectrum Plc ('Plectrum'), we have been invited by Perupetro to start exclusive
negotiations with them to finalise the details of an Exploration Licence
covering Block Z-34, offshore Peru. 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 May 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.


Block XXI


Gold is pleased to announce that on the 10 July 2006 it spudded the San
Alberto-1X exploration well on Block XXI, onshore Sechura Basin in North West
Peru. The well is the first on the Block and is targeting both gas at less than
3,500 feet in the Verdun reservoir, producing gas in the nearby La Casita field,
and oil in the deeper Palaeozoic that is producing oil in the San Pedro oil
field. Total depth pf 6,500 feet is expected to be reached in some three weeks.


Gary Moore, Gold's Managing Director, commented:


'This is excellent news for Gold in our new joint venture with Plectrum. I look
forward to speedy negotiation of the contract terms so that we can become
operationally active as soon as possible and commence exploration activity on
Block Z34. It is also very important to Gold that exploration drilling has
started in such a short time since the Licence was ratified on the 4 of April
2006.'


For further information, please contact:

Gary Moore
Managing Director Tel: +44 (0)1737833597


Michael Burchell
Chairman Tel. +44 (0) 1372361772


Roland Cornish
Nominated Adviser
Beaumont Cornish Limited Tel. +44 (0) 207 628 3396



Notes to Editors


The offshore 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 and no wells. The initial work
programme will be to acquire a conventional modern 2D seismic grid and enhance
these data with Electro Magnetic (EM) studies.


The area of Block XXI is equivalent to just less than 14 UK North Sea blocks.
The block lies in a desert area, next to the city of Piura, and to the east of
an existing producing gas field. Both lie within the Sechura Basin, which is
adjacent to, and is believed to be a sub-basin of the Talara Basin.


Previously the Company had been interested in the potentially gas bearing Verdun
reservoirs in Block XXI, but the recent well by PetroTech offshore Sechura Basin
flowed oil at 1200 bopd from the Paleozoic, a reservoir previously not
considered over the last 100 years to produce oil at these rates. PetroTech have
since drilled more wells in its development of the San Pedro field. The
Paleozoic reservoirs are believed to run under Block XXI with top being at
around a depth of 4,000 feet.



http://www.rns-pdf.londonstockexchange.com/rns/1152g_-2006-7-12.pdf





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

talk about timing. i was going to add tomorrow but it could be a v positive day. that is excellent news.

i will be buying in tomorrow anyway as i am liking the look of goo long term. hopefully i can buy under 8p tomorrow?.

z34 is the acreage that attracted me to goo in the first place.

Adding first thing. Superb

Lizard / Moneyman, good luck on the buys tomorrow, I have fingers crossed for lift off and can't see this one waiting any longer.... I'm fully in as much as I care to be at the moment.

demain n'arrive jamais! .... as we all know to our cost

Area of interest in the header.
http://www.rns-pdf.londonstockexchange.com/rns/1152g_-2006-7-12.pdf

still waiting on confirmation of brazil blocks awarded last week and outcome of nancy workover work colombia.

z34 looks very interesting.

Cynic

Do you ever wonder why you received so much abuse on ADVFN?

1. You know sweet FA about the stock market (fundamentals nor TA, by your own admission)
2. All you ever post are inane negative comments dressed up as expert opinion.

Give it a rest FFS.

pth

why would they issue an rns 9 minutes before close. unless they are preparing another for tomorrow?.

for those who know gold oil plc we know what we want to be confirmed!.

Z34;http://www.goldoilplc.com/peru3.html

Can buy at 7.10p online.