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

Yes was thinking earlier that Mr P must be extremly disappointed to put it mildly ! Let's hope he doesn't sell up as it be curtains for GOO. If he did sell he take a massive loss , fingers crossed that he hangs on in there still !

2nd February 2009



Gold Oil Plc (AIM: GOO)
("Gold Oil" or the "Company")


The Company announces that in the light of the recent fall in the
Company's share price, following the suspension of testing announced
last Thursday, it has been in discussions with the brokers to the
recently announced placing regarding the settlement of the proceeds
of the placing due to be paid to the Company today.

A further announcement will be made when the position is clearer.
.

For further information on the Company, visit:
www.goldoilplc.com
or
contact:


Michael Burchell Chairman Tel: 01372 361 772
Roland Cornish Beaumont Cornish Limited Tel: 020 7628 3396
Daniel Fox Davies Fox Davies Capital Tel 020 7936 5230]




Notes to Editors

Gold Oil is an AIM-listed oil and gas exploration and production
company primarily focused on opportunities in Latin America. It has
oil production in Colombia and significant exploration acreage and
licences both onshore and offshore in Colombia and Peru.

---END OF MESSAGE---




This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.

tried to tell you guys

What the heck does that mean : "it has been in discussions with the brokers to the
recently announced placing regarding the settlement of the proceeds
of the placing due to be paid to the Company today."? My GCE english doesn't cover that kind of double talk.

Unhappy at paying 4p refusing to pay.

looks very much as though Mr P has got himself a dud hand that will fold of its own accord

CYNIC
You are correct SIR!
Its not the first time the board has been in the hot seat,oh well win some loose some.

since when was i ever called Sir ..... Cur i recognise more readily!

I use Sir,when i stand to be corrected as a display of respect,do not get too carried away.I was able to recoup losses here with BLVN,and i am staying out of the markets for sometime now.
Good luck to all that stay put here.

Still in keeping the faith, mind you I sold my initial investment some time ago so holding profit in shares and happy to do so for the long haul..

should not now have long to go then .... until the company goes into admin

does that mean if the settlement is received today there may be a little rally?
is it legally possible for the settlement to not be paid? i can understand being extremely p*****d off with the news about Rosa Blanca but is it sufficient to withhold payment?
not holding though have traded in an out, last time[2 yrs ago] with disastrous results.
Alex

I sold out and put it in to AMER-a much better proposition.

Sivad,

Encouraging words, but us long term AMER holders are having to be mighty patient.

AMER a better proposition????//
having you been ingesting too many magic mushrooms or similar?

Well , like to know whats pushing this up ? Probably soon find out , cynic , seems this ain't dead yet !

a load of shit i expect

Agree , could be some MORE Blarney , we have to see !

Some better news for holders.
2517

Gold Oil PLC said it has commenced production operations on the Burdine-1 well in the Putumayo Basin in the south of Colombia.

Burdine-1 produced over 2.3 million barrels before being suspended for economic reasons in the 1990s. During recent testing under restricted conditions, the well flowed at 52 barrels of oil per day.

The next step is to clear sufficient access to allow a wire line unit in to examine the down-hole condition and install a pump for a series of tests, Gold oil said.

Depending on the results of the tests a work over unit may be brought in to re-perforate some zones and perforate bypassed zones identified in our recent study of the well. The same procedure will be applied to Burdine 4 and Burdine 5 wells over the coming weeks.

During the month of January the Nancy 1 well delivered an average production rate of 234.6 bopd for the month when the well was brought back into production on January 7.

Chief executive Gary Moore said: "I am very encouraged with the initial tests under natural flow that indicate that a pump should get production rates up significantly which will increase the company's cash flow this year."