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

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. ;-)

I'm in as well. Hope it rockets UPWARDS for a change.

Sc- You can view the results on the Karoon website in their Feb review. Seismic reveals over 1billion barrels in leads!.
http://www.karoongas.com.au


Also did you read the block next to Gold Oil's onshore acreage in Peru XXI has a reserve value of US$14Bbn+. See Olympic Peru link below.
http://www.prweb.com/releases/2010/03/prweb3766414.htm

The area is looking very promising (or 'red hot' as they put it) . Goo have just signed a deal with VALE a huge company valued over US$175bn to explore Goo's XXI.

Thats Peru, Gold Oil are also set to announce production news from Colombia within next few weeks.

Sheer Energy have also just invested millions of $'s in GOO's assets and the company
now have a very strong cash position.

Company is well undervalued imo bwtfdik

Lizard

Given GOO is cash rich and has a great prospect in Z34 why bother to try to sell off risk as per their request for partners on the front page of their website.

Also if Z34 is such a good prospect why are there no prospective partners taking up the offer.

I can't work out what to make of it.

Both projects in Peru are huge SC and far too big for a company the size of GOO to pay 100% costs. The XXI deal will allow them to look at other opportunities imo while Vale carry us through for at least three or four drills. They have more experience/ staff than us on the exploration front and will operate the license.

Not a bad idea to dersisk this after SA1/2!

Z34 is a massive offshore area (about 1m acres) and will require significant sums of money, but the seismics were very good and i do expect a cracking deal soon with a major company!

Burdine-5 brought on stream, says Gold Oil

It doesn't seem to be making much difference to the share price.

Good news doubled production today and still Burdine 1 to workover.

Lizard

Any thoughts about when we will get some news regarding Burdine 1

They have just moved the rig across to this well so not that long you would think. Really interested to see what is happening with
their best prospect Z-34, so hopefully an update soon?

Just bought into these this aft looks promising, buy didnt appear on board..

Should get a re-rating when upgrade to Burdine-5 output??.....

grannyboy

They've been really promising for donkey's years....

Lizard

There doesn't seem to be much interest from prospective partners for Z-34.

Yes ShareCruiser been under PIs radar, was brought to my notice yesterday, company needs to get more news into the marketplace, Lizard they are activley seeking a partner? they seem to have been successful previously.....

Appointment of FirstEnergy Capital as joint broker

My guess is this is aimed at getting some cash injected. Any thoughts anyone?

or possibly some acquisition ?
they have a decent cash position already and Nancy Burdine could be producing around 1000bopd soon, so good revenue.

why has this one dropped? Does anyone know?

p
may have hit an iceburg.if not, pretty close to it. in chart lingo that is.
regards
jkd
edit and addendum it has also today broken its March low. maybe it will recover and make an April low? or a May low? good luck to you all.
regards

Hopefully do a lot with another 10m to add to an already good cash balance
Also cash revenue from production should be healthy currently at 600bopd with more wells planned and oil well over $100.

its holed, but not yet the titanic. new buyers beware. be patient. old buyers ( existing holders) might like to pre empt and jump ship on a rally or might like to just hold and hope for rescue. todays close 4.0 sh
all just my opinion. please be sure to dyor.
regards
jkd