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

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."

2nd March 2009
Operational Update
"The Company plans to restart operations in the Rosa Blanca 1 well within the next two weeks with a work-over rig and continue testing the existing perforations on the middle zone of the Rosa Blanca formation and then test one zone at the top of the Rosa Blanca formation and one in the higher3 Tablazo formation.

In January the testing operations on Rosa Blanca 1 well were suspended and the rig taken off site with a view to come back into the well with a lower cost work-over rig and to continue testing the well. The bottom formation, Tambor, was tested but failed to flow hydrocarbons from the tight reservoir. The middle Rosa Blanca formation was tested for only three hours and flowed at a rate of over 1,000 bbls per day of near fresh water before the decision to suspend testing operations.

The suspension of testing has given time for the partners to study the results to date and form an opinion on the best way to continue testing the well. Last week the Company held a Technical Committee Meeting (TCM) with the Rosa Blanca partners (Gold Oil Plc Colombia 40%, Lewis Energy Colombia 25%, Osage Exploration and Development 25% and Empesa 10%) to formulate a forward plan.

The plan is to mobilise a work-over rig before the second week of March with a planned programme of 10 days. When the well is rentered we will resume the test of the middle Rosa Blanca formation for at least twenty-four hours before moving on to test the top zone in the Rosa Blanca formation. The Company held a Technical Committee Meeting (TCM) with the Rosa Blanca partners (Gold Oil Plc Colombia 40%, Lewis Energy Colombia 25%, Osage Exploration and Development 25% and Empesa 10%) last week. After that the top of the Rosa Blanca
formation will be tested before moving up the well to test the Tablazo formation"

Gold Oil plc

Directorate Changes and Change of Adviser

Gold Oil plc ("Gold Oil" or the "Company") is pleased to announce the
appointment of Mark Pritchard as a non-executive director with
immediate effect.

After a career in investment banking, latterly with Nomura
International in London, Mark was a founding member in 1992 of a
small private equity firm, Lomond Consultancy, which specializes in
small cap and high tech investments. Mark is currently Chairman of
Allied Minds Inc., a private equity vehicle specializing in early
stage technology investment which he founded in 2004, and of
FuturaGene PLC, a university spin-out venture floated on the AIM
market in May 2004 and in which he was an early stage investor. He
graduated with honors from Cass Business School, London in 1984.

The Company also announces that Gary Moore, CEO and Managing
Director, and Patrick Mahoney, Non-Executive Finance Director are
leaving the board with immediate effect. The Company is in
discussions with a proposed executive director and expects to be in a
position to make a further announcement shortly.

The Company also announces the appointment of Seymour Pierce Limited
as the Company's nominated adviser and broker, also with immediate
effect.

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

Gold Oil
Michael Burchell, Chairman Tel: 01372 361 772

Seymour Pierce
Jonathan Wright / Richard Redmayne Tel: 020 7107 8000

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 Peru and onshore Colombia.

Further information under Schedule 2 of the AIM Rules:

Mark Alun Pritchard, aged 46, is currently or has in the past five
years been a director of the following companies:

Current
Lomond Consultancy Limited
Allied Minds, Inc.
FuturaGene PLC
Lomcon PLC (dormant)

Past
Tradfy (UK) Limited
Intelligence Technology Holdings Limited
Overnet Data (UK) Limited

Mr. Pritchard is the beneficial owner of 42.5 million shares in Gold
Oil, representing 8.5% of the issued share capital.

---END OF MESSAGE---

Gary Moore going & an Investment Banker coming in! Groan. Lets hope no more bad news in the pipeline!

looking to make an appointment soon would think as mentioned.

The Oil men are out and the Merchant Bankers are in!!!

Sounds like some kind of financial deal is planned.

in as Non Exec.
Looking for an experienced Oil man for CEO. rns suggests appointment not far away. Think they have someone in mind?.

does he have a magic wand to bring this dead duck back to life?