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

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

last weeks final site preperation pictures, rig due on site just after mid November.

Thanks Lizard,
Lets hope the next pic is of the black stuff.

is that as the company goes down a big hole?

Lets hope not CYNIC,for the sake of those that remain invested.

Cape , you know Cynic likes to look at most things with an empty glass ! Although in his defence with the markets as they are he does have a point. i still believe Gold Oil will deliver , although later than we are all hoping for !

spud news must be imminent imo!.

come on Goo are you drilling yet?.

only a deeper hole for investors!

cynic,you dont know that to be the case YET.

indeed, but it's fun teasing you guys - lol!

Haha,i always knew there was humour in our Cynic.

drills news within next week imo.

Can't seem to add this to My Favourites thingy.

news on Gold Oil's partners website Osage Exploration- started drilling Rosa Blanca license on Sat 6th Decemeber.
(est reserves 1.3bn- 10% of that would be great for Goo nr that figure amazing).

Thanks Lizard , they hope to done by year end , and then testing will commence ! Let's hope it's good news , as we all know it's needs to be !

I suppose there is a possibility also that the 4 Burdine well workovers could start this month or early 09.
They took over the license last month so things should get going now. Also due an update on the Palmero1 well.
that has been put on production flow test for two months back in Oct/Nov (looking to increase flow rates substantially).
Another exploration well was planned for Q4 08 on Azar (not sure about that situation?).

Busy in Colombia good job they have now opened an office there and placed a Country Manager.

Farmout on Z34 looks possible and XXI seismic should start soon.
As for Cuba, gone very quiet. Now that would be some deal.

Lizard,looks like all of the above is begining to move the sp.

"Gold Oil is pleased to announce that on 6 December 2008 the first
exploration well on the Rosa Blanca Concession in the prolific Middle
Magdalena Valley in Colombia was spudded. The spud date was delayed a
few days due to severe rain in the area. Gold is joined in the Rosa
Blanca concession by Osage Exploration and Development, Incorporated
of the US (Osage), Lewis Energy Colombia and EMPESA, SA, both
Colombia.

Lewis Energy Colombia's number 3 rig was mobilized from San Antonio
Texas to drill the Rosa Blanca-1 well. Gold expects to reach total
depth of around 3,800 feet before the end of December, with testing
to follow. Gold Oil's 40% working interest is carried through the
well and 30 days of testing.

Gold brought Osage into the group as Osage had access to technical
data that Gold did not have. This has proved extremely useful as the
target prospect is now mapped some 10 times bigger than ever
envisaged by Gold and there are an additional three prospects of
similar size on the Concession.

Gary Moore, Chief Executive Officer of Gold Oil, said, "This well is
the culmination of a project that was started over two years ago, and
has taken a great deal of time and effort by the Company and its
partners to get to this stage."

Come on GOO let's be having some good news for the New Year please !

Second that.