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

Gold Oil PLC Exercise of Option
http://moneyam.uk-wire.com/cgi-bin/articles/20101005070000H8950.html

I wonder if the realised cash from the exercising of the option has gone out as administration expenses?

I don't think Sheer would be putting millions in to finance admin.
Drilling campaign coming up this quarter so perhaps that is where they see value?

Farmout deadline was Nov 5th for offers, should get some news soon imo.
This would be big news if they get the right development carries and equity retained.

By all accounts GOO should be drilling in Colombia shortly and about time.

lizard
Need some news soon cant keep topping up.

expecting news soon driver
big news in Peru hopefully?

Gold Oil PLC Columbia Operations Update

http://moneyam.uk-wire.com/cgi-bin/articles/20101115094100H2482.html

It doesn't sound very exciting to me.

The big news is yet to come i hope ie Peru

Due to spud any day now at last!

Im Out At The Moment backed into MTA.

Columbia Operations Update 11 January 2011

http://moneyam.uk-wire.com/cgi-bin/articles/20110111123800H8821.html

Things are moving at last. What is MTA?

ShareCruiser

(MTA) Matra Petroleum. Waiting on the results of the drill any time now, if the results are good the sp will rocket. Where have you heard that before.

Excellent news with XX1 farmout. Vale are a big player in the resource sector, so hopefully they see decent potential in XX1 carrying Gold Oil for seismic and a few drills.

Derisked this asset considerably.

very quiet here these days anyone hold?

Should see Burdine well news soon with 1,3,5 put on production in the next few weeks.

I'm still in.

Thats two of us then SC!
Did you see the seismic results for Z-38? next to Goo's Z-34!

Very encouraging

No I didn't. We'll just have to wait for the environmental permit on Z-34 before they can obtain any seismic data. How long that will take I have no idea. Hopefully all GOO's oil won't have flowed into Z-38 by the time GOO get the chance to drill. ;-)