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

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

April 2011 presentation now on website.
It demonstrates the assets have very good potential.

It's been a long wait but the environmental permit has come through

http://moneyam.uk-wire.com/cgi-bin/articles/201105110932093714G.html

Oil barrel presentation 7th june...

grannyboy

What does that mean?

SC, it means Richard Mew (aka CEO) Gold oil is to give a presentation to Oil Barrel, which is a voice of the oil industry on his thoughts and plans for the future, its a regular presentation get quite a few oilers giving their views...

Grannyboy

Thanks for the info.

SC, your welcome, and there should be a steady flow of RNSs in the coming weeks/months??...

Z34 gathering a pace.
What is the score for getting in on OilBarrel? anyone going! Can anyone go?

If you go on to the oilbarrel.com site you'l find the details you require, afraid i wont be able to make it, but they do a webcast so most likely watch that?..

Cheers. Might go?
Not sure about this CEO yet but early days.

Mr Iraj Parvizi has been buying again.

http://moneyam.uk-wire.com/cgi-bin/articles/201106010700146127H.html

Was Iraj Parvizi topping up again today?(15mil). Could start to get interesting!!!!.

What's aroused the interest?

is this share going anywhere?thought it had poptentila and worth waiting but now seems a "talking horse"!ah well another one bites the dust

+12.39% jump today. Any idea why?

This from the other side. not in myself.

Quite heavily into GOO, could be the next oil tiddler to multi-bag on positive 3D seismic results, possibly before Xmas.

Seymour Pierce comment today:
Gold Oil (Gold) provided an operational update on its key assets in Peru and Colombia. At Z34 (100% interest and operated; 73% of NAV), offshore Peru, 3D seismic data is being processed with fast track results encouraging. A full interpretation is expected at the end of year. Gold has submitted an initial consultation document and terms of reference to the Ministry of Energy and Mines, which is the first step in the Environmental Impact Assessment process. Drilling at Z34 is planned for late 2012. This update on Z34 is in-line with managements prior guidance and in-line with our expectations.
At the Nancy Burdine Maxine field (27.4% net interest and operated; 23% of NAV), located on shore Colombia, Gold has commenced discussion with Ecopetrol regarding an extension of the Nancy Burdine concession contract, which currently expires in 2015. As a result the Nancy-2 well which was planned for the end of 2011, will now be delayed until contract extension negotiations are finalised. We note that our current estimates factor in drilling of the Nancy-2 well in mid 1QCY12 with production to commence in late 1QCY12. As a result our production volumes estimates remain unchanged.

At the Azar block (20% interest and non operated; 1.2% of NAV), located on shore Colombia, drilling is now expected to start in 1QCY12 (versus in late 4QCY11) resulting from a delay in receiving the required permit from the Ministry of Environment. Our estimates do not factor in any production volumes from Azar.

We reiterate our Buy rating and 12-month PT of 8p.

StockMarketWire.com
Interim operating losses at Latin America-focused Gold Oil fell to £110,000 in the six months to the end of October - down from £790,000 a year ago.

Revenues rose to £715,000 from £474,000 and gross profits increased to £379,000 from £164,000 while pre-tax losses narrowed to £135,000 from £806,000 last time

Chief executive Richard Mew said: "The company made significant progress during the period in developing its assets in Colombia and Peru.

"The short term focus has been to acquire, process and interpret 3D marine seismic data for Block Z34 which lies offshore Peru.

"Success in gaining a partner for the block on attractive farm-in terms is crucial to the future of the company.

"The company is also progressing its other assets and positioning itself for growth as opportunities arise and as market conditions improve."