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

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.

HI EVERYONE
TALKING ABOUT PERU AND COLUMBIA AND REFERING TO MONEYWEEK MAG OF 12MAY2006, CHRIS PALMER HEAD OF LATIN AMERICA AND DEVELOPING MARKETS, GARTMORE REPLIED WHEN ASKED WHICH ARE YOUR FAVOURITE MARKETS: "...ONE IS COLUMBIA AND THE OTHER IS PERU. PERU HAS GREAT NATURAL RESOURCES AND MINERAL ASSETS. YET EVEN AMONG THE ELITE IN PERU THERE IS A LACK OF CAPACITY TO EXPLOIT THE RESOURCES. IN OTHER WORDS, PERU DOESN'T PRODUCE ENOUGH CAPITAL, PEOPLE, MACHINERY AND WHEREWITHAL TO scratch THE surface OF WHAT THEY'VE GOT. COLUMBIA, TOO, IS A RESOURCE-RICH COUNTRY (REPLETE WITH OIL, COAL, EMERALDS) THAT HAS SUFFERED FROM UNDER-INVESTMENT. IT IS ALSO A CASH-RICH ECONOMY AS RESULT OF THE DRUGS TRADE AND IT HAS A VERY RESPECTABLE GROWTH RATE. LOOKING TO THE future, OIL AND COAL SEEM TO BE UNDEREXPLOITED AND CERTAIN PARTS OF COLUMBIA HAVE NEVER been exploited FROM A METALS AND MINERALS STANDPOINT." END OF QUOTE
THESE ARE SERIOUS FISHES TO FRY AND I SAY BEFORE DO NOT UNDERESTIMATE WHAT GOLD OIL CAN DO. AS A LONG TERM INVESTOR I DO NOT GIVE THE CHILDREN FOOD TO MY DOG. ONE THING IS CERTAIN IN THIS UNIVERSE AND THAT IS: CHANGE. I WILL WORK WITH THIS CERTAINTY KNOWING THAT TO WIN REQUIRE THE ABILITY TO HANDLE AND CHANGE LOSSES. I HOLD GOLD OIL. NOW WHAT ARE GOING TO DO? OPEN YOUR EYES, DECIDE, ACT AND WAIT. PLEASE NOTE THAT THIS IS NOT AN INVITATION TO BUY, TO SELL, TO HOLD, OR TO DISREGARD THIS LITTLE FISH IN BIG WATERS OF GOLD OIL. BEST LUCK.

I'm glad you don't feed your children to your dog too...

Why post, nobody wants you here.

Georgetrio, I fail to see your point? Think I got lost when you came to the universe and went a little Hawkings. "NOW WHAT ARE GOING TO DO?" Again not sure, maybe you should invest in black holes.....

HI EVERYONE
I MUST CLARIFY THIS BEFORE IT IS TOO LATE.
THE CHILDREN FOOD IS THE HARD EARN MONEY THAT I INVEST.
THE DOG IS THOSE COMPANIES THAT LET YOU DOWN BADLY.
HENCE I DO NOT GIVE THE CHLIDREN FOOD TO MY DOG.
GOO IS A VERY EXCELLENT COMPANY WITH PROJET IN PERU AND COLUMBIA AND MY POSTINGS HIGHLIGHTED THE VALUE ASSOCIATED WITH THEM.
I USED PARABLE IN THIS CASE. BEST LUCK

this is nearly as dull as watching England play football!. just a matter of time on XXI, NBM, Z34, Spain, Brazil updates. who knows what the outcomes will be?.

Surely nothing can be duller than England playing football. Anyway a small tickup today.

true. overrated/ overpaid lucky buggers!. being that bad and getting paid that much what a job!.