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

just seems pointless to me releasing then. i have never seen such a stupid time to put out a positive statement. i would imagine the timing would also miss next day media.

cynic we are expecting news but thought the strategy and only explanation for issuing at this time was so they could do another at the open without it getting missed. when a company issues more than one rns they sometimes dont get seen.

Sorry about the press release, but we had a major problem with our e-mail system. The release was sent out last Friday, but the instruction failed to get through. We only noticed when an investor asked about it. (We are very busy on our Peru well at present). The Nancy well is finished and we are waiting on a storage tank delivery to start production.
Regards


Reply to email sent yesterday to Gary Moore.

cheers tvc and well done. always worth mailing them otherwise they may not have noticed. nbm fingers crossed for decent and increasing production levels.

tvc15
Yes well done on the email.

great news from columbia taken from web site
July 14, 2006
The Operator HAS NOW installed THE jet pump and test facilities. They are sourcing a 1000 bbbl tank to receive production and expect production to start in 2 weeks time. The operator remains confident that commercial flow rates will be obtained.

also news from brazil

July 14, 2006
Proen bid, on behalf of the JV, for these two blocks and won them. The Ministry tendered the blocks on the basis of a workover programme. However, we wanted the blocks because there is considerable exploration upside and we are now negotiating with the Ministry for us to keep the blocks and allow exploration.

yep seen it things looking ok thus far!.

why cant anyone spell COLOMBIA.

hi everyone
I AM A LITTLE FISH IN BIG WATERS BUT I CAN SWIM IN DEEP WATERS.
I HOLD GOLD OIL AND I WILL KEEP BUYING gold oil. DONT ASK ME WHY, BUT PLEASE DO YOUR OWN HOMEWORK BEFORE FOLLOWING ME. KEEP YOUR EYES OPEN, THE EYE IS THE LAMP OF THE BODY AND IF YOUR EYES BECOME DARKNESS, HOW FAR WILL BE THE DARKNESS IN YOUR LIFE. NEVER UNDERESTIMATE WHAT GOLD OIL CAN DO. LITTLE FISH SAYS FISH CAN FLY. AS MY GRAND MOTHER ALWAYS SAYS: IN ORDER TO WIN YOU MUST BE PREPARE TO LOSE. IT TOOK ME YEARS TO UNDERSTAND THIS. IF YOU CAN DECIDE TO LOSE AND DECIDE TO WIN,then YOU CAN ENJOY THE GAME OF INVESTMENT or any other game WITHOUT PAIN AND BE A WINNER WHATEVER THE OUTCOME. IN ORDER TO UNDERSTAND GOLD OIL, READ MORE ABOUT PERU AND COLUMBIA. Hidden treasures are hard to find but will you recognise one? IF you have eyes then see, and see clearly or see through.

And there goes The wisdom of georgetrio?

THANKS DRIVER. JUST ENJOY IT. HAVE A VERY NICE DAY.

couple of decent 2x 500k buys.

i wonder what these brazil blocks hold in addition to existing production. i think moore is negotiating for further exploration rights as the website confirms.

Got a brief mention in the Shares Mag today about their discussions re offshore Peru. Called GOO a minnow in the sector that reminds us that any good news can have a significant effect on the share price of these small companies and when you look at all that they are involved in and news on way soon, I know where my money is.

and marginally disappointing, let alone bad news a catastrophic collapse + an inability to offload any shares except at fire-sale prices

cynic
Behave we are going to discover oil very sooooon.

merely making the obvious observation that so often gets overlooked in euphoria

driver- this well on XXI is an exploratory well so is 50/50 speculative. im still holding if not successful as goo are becoming more than a one trick pony like many others.

Hi all, another week and not much has happened here, still holding though, may check back in next Friday should I have nothing to add during the week.... Taly-ho!

didnt expect any this week though explosive. but i do expect some perhaps later next week or certainly the week after in regard to NBM. XXI may take longer?. perhaps brazil will be announced if a goer or converted licence of Z34 with perupetro?. dont forget also they are drilling in Spain ayo field so may get an update on this?. a small holding but any level of increased prodcuction for goo at this stage a bonus.

Personally I'm expecting the contract with Perupetro to be the next RNS. Fairly confident its in the bag already, just a case of dotting the i's and crossing the t's. Lots to look forward to though during the run up to the final quarter...

agree- a long process then of to ministry for final approval. Z34 looks interesting.

i think XXI could go either way on this exploratory well. but will tell us about the block structure in closer detail. must not forget this is 1m acres and has 30yrs exploration license. same for Z34 when converted i expect.