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

Thanks Lizard , i had forgooten some of that testing etc !

A sudden surge of buying going on !

Encouraging news. Should get a Burdine update soon imo.

At least they have someone interested in the assets.

"Gold Oil plc ("Gold" or "the Company") is pleased to announce that SCAN Geophysical ASA ("SCAN") has completed the acquisition of 2,013 km of 2D data over Block Z-34 offshore Northern Peru. SCAN is now expected to deliver processed data of the 72 acquired lines in approximately 2 weeks time. However, the first initial assessment of some of the data is encouraging as it can be concluded that the presence of sedimentary sections that correlate with the same producing layers containing crude oil reserves in the neighbouring Z2B block. Further announcements will be made in due course.

Gold is also pleased to announce that it has entered into non-binding Letters of Intent (the "LOIs") with a private junior oil and gas exploration company incorporated in Peru ("the Partner"). The Partner's management has extensive experience in the hydrocarbons sector, and the LOIs set out the terms on which it intends to farm in to both Block Z34 and Block XXI.

The deal is conditional upon the Partner securing additional funds within 45 days to carry out its obligations on Block Z34 and Block XXI. A further announcement, will be made in due course.

Operations Director Thomas Tidow commented. The new seismic, the first on Block Z34 completes the first step to explore the potential of this large asset. We will now immediately start with the processing and interpretation of the acquired data. The LOIs should ensure that Gold can participate in a meaningful way in the
exploration of these two major assets".
Block Z-34 covers 371,339 hectares and is bordered to the east by Block Z2B, which is producing both oil and gas and is operated by Petrotech Peruana.
A fourth exploratory area is based on the symmetry of the trapping models of the present fields. Onshore Block XXI covers 303,000 hectares and is bordered by
Olympic's producing gas field. Gold has drilled two exploration wells on the block and five other prospects are mapped."

Hey , 700 K shares brought in just 10 minutes , i know not a great amount and the sellers are in , but is good news about to break soon ?

Sorry Guys didn't see that RNS out , seem's we have to wait as usual , but they get those well up and pumping , this SP has to move North . (Hopefully ) !

yes very slow no change there then!

blimmey!

l
do you mean blimey? maybe not, anyway everytime i see this i think goo doo mr mgoo
dont know why. always have. that was long before he turned up, mr mgoo that is, he seems to have disappeared now and for some time.i thought it weird that he turned up though, sort of as if i had magicked him in my thoughts and energies and lo and behold here he posts.
i was just sort of wondering if there was anything to replace him with, goo doo ?
and beginning to think not when majically what turns up? guess what? Zoo. when was that last posted on? i now have that tune i cannott get rid of, how does it go? all together now goo........... it dont seem to quite work as well for me.oh well never mind.
LoL
regards
jkd

news due

all, Production testing now underway on the Burdine wells Colombia .

Lets hope when the Directors say they 'expect to significantly increase production output from those wells'

has some standing.

Thanks Lizard , lets hope they right !

Should also get some news on XXI and Z34 results soon mcgrath.

Good news on the production front. All three wells tested positive and Z34 is coming on nicely.

Oil over $70 again, should have the $'s for Goo's recent production increases

Production news due on the 3 Burdine wells that have just been completed and tested.

Bought some more today. I like the look of offshore Z34, major upgrades were mentioned in last rns so heres hoping results are good.

lizard, cheers for the production info.

GOO will have quadrupled cash flow from last quarter with these new wells nr to production. Should come in useful for asset development.

Lizard , On the move quickly , lets hoping for some great news soon !