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

Cape , your spot on ! That's our big problem at the moment !

Operational Update on Rosa Blanca 1
Update on Nancy Burdine Maxine Fields
Man Ferrostaal MOU Extension


Rosa Blanca 1

Gold Oil plc ("Gold Oil" or the "Company") announces that testing
operations have been completed on the Rosa Blanca 1 well and that no
hydrocarbons were produced from the four zones that were tested. As
previously announced on 2nd March 2009, the bottom formation did not
flow any hydrocarbons. The work over rig which was brought on to
site earlier this week allowed the testing of the middle formation to
be completed and the upper section was then perforated and swabbing
operations carried out. No hydrocarbons flowed.

The Rosa Blanca operating group, in which Gold Oil has a 40% stake,
will review the data recovered from the well. Despite the
disappointing results from this operation, the 45,000 hectare block
still has a number of other prospects on the licence and these will
now be assessed after the data analysis has been completed. The next
stage of the work programme will be to conduct a 2D seismic survey
later this year.

Nancy Burdine Maxine Fields ("NBM")

The Company is preparing to take management control of NBM. A
programme of cost cutting has already been implemented and further
reviews will be made to ensure that our operations are run as
efficiently as possible.
Testing and a reactivation programme of the Burdine field commenced
this week and 2 out of 3 of the Burdine wells have natural flow
producing capacity. The Burdine 1 well has produced 96.2 Bbls of oil
in 10 hrs on a natural flow test and Burdine 5 will proceed next
week.
The Company is now moving a wire line unit to the Burdine locations
to check the mechanical status of the wells, pressure test them and
define the necessary work over program in order to put them on
production. The behaviour of the Burdine wells has been similar to
the producing well on Nancy and the Directors therefore believe it is
possible to significantly increase production output from those
wells.

MAN Ferrostaal

Gold Oil has signed a further one year extension to its existing MOU
with MAN Ferrostaal of Essen, Germany to evaluate the feasibility of
developing a petrochemical plant in Northern Peru. As previously
announced, under the terms of the MOU which was first signed in 2004,
MAN Ferrostaal is responsible for evaluating the petrochemical plant
and Gold Oil is responsible for evaluating the gas supplies and
pipeline transportation options.

The MOU envisages several phases of development with Gold Oil having
an option to participate in the petrochemical plant and MAN
Ferrostaal an option to participate in the upstream gas supply.

Ends

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

Gold Oil
Mark Pritchard, Chairman Tel: 07802

dead in the water springs to mind
mr parvezi has pissed on his chips big time

Interesting expression! Not heard that one before. I assume a translation from hebrew??? ;o)
Could be a long wait for GOO to come good now, imo. 2009 looking bleak. Mr P. is in it for the long term whether he likes it or not!

not a hope in hell!

Rosa Blanca was expected after well suspension.

NBM alone looks good imo.

Should get some production news on the Burdine wells this week or next.

New Team taking shape.

New team of what?

err thats hard!.

Just got in , wasn't expecting this nice rise ! Wonder what new's is in the wings? Pity those who sold out at 2p last Thursday etc !

Some good consistent buying going on , some decent news soon hopefully !

perhaps Mr P is trying to catch the falling knife!

Maybe he is , as we know he's brought most his shares at a lot higher prices than this !

trouble is, he now only has stubby fingers at best

Perhaps the bidder to buy out Goo is back? Although its not exactly flying sp has fallen a load.

Or maybe as Obama has started to lift the embargo on Cuba, the cuban exploration licence is being fast tracked! (Says he hopefully).

now that would be good. they have been negotiating these blocks for nearly two years. there is a lot of movement on oil exploration currently with blocks being handed out, as yet nothing by way of UK companies. Although Goo did secure Operator status which many fail to do, so the next step is to get the target acreage.

If that happens I am going to smoke a nice Cuban cigar !

as i don't smoke, please may i roll it for you on the inner thigh of a dusky cuban lady?