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

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what?

I think tv's on the wrong thread.

these are looking good for tomorrow- full offer being payed around close.

Sorry wrong thread, should have posted this on Yoomedia thread. Goo looking very good.

chart starting to look interesting!-

I have made a few changes to the header let me know what you think.

Looks good to me. Nice and concise,

Gold Oil PLC
09 March 2006


FOR IMMEDIATE RELEASE 8th March 2006



GOLD OIL ACQUIRES A 40% WORKING INTEREST IN THE NANCY-BOURDINE-MAXINE OIL AND
GAS FIELDS IN COLOMBIA

Gold Oil Plc ('Gold') is pleased to announce that it has acquired a significant
interest in the Nancy-Bourdine-Maxine (NBM) Oil Fields in the South West of
Colombia. The fields were discovered by Texaco and put on production at 1,400
bopd in 1975 to 1995 when they were abandoned for economic reasons. At the time
of abandonment the Nancy 1 well was producing at 200 bopd with no water. The
Licence is held by Union Temporal that is made up of a group of small sized
local oil and service companies and individuals led by ex-oil personnel from
companies such as BP, Oxy and Schlumberger, all of whom have extensive
experience in Colombia and the NBM Oil Fields. The transaction, which is subject
to the approval of Ecopetrol, will make Gold the largest partner with a 40%
interest.

The current plan is to re-enter the Nancy 1 well and recommence production by
use of a jet pump from the existing zones and also to perforate zones previously
ignored. The workover rig is currently being contracted to commence operations
in the next few months.

The consideration is $330,000 with an increased share of production for Gold
until payback when a contribution to back costs is made. Gold has to pay its
share of the re-entry costs estimated at $220,000.

Gary Moore, Managing Director of Gold, said 'We have been looking at Colombia
for some time and we like the many oil and gas opportunities there. We decided
that NBM was an ideal low cost entry into a new country with an experienced and
very low cost operator where we have every possibility for early cash flow and
exploration upside'.


Enquiries

Gary Moore Managing Director; Tel: 01737833597
Email:
gmoore@goldoilplc.com
Mike Burchell Chairman; Tel: 01372361772
Email:
mikeburchell@hotmail.com
Roland Cornish Beaumont Cornish Limited; Tel: 020 7628 3396

i like it -showing ambition here moving into new areas. peru is massive in regard to acreage but still seeking further acquisitions!- very promising!. peru approval next please.

The income from Columbia would probably be enough to fund their ongoing drilling programme in Peru for years to come. Also means they will be Producing Oil in South America, not just northern Spain.

Thats the beauty with this one. Money in the bank to acquire assets and to carry out plenty of drilling.

S. America : Low drilling costs + High oil prices = Great Value!!!!

compared with others in sector that aren't yet producing this is lagging big time. i think the approval is needed for it to break double digits!.

Nancy nice name for it looks like a good acquisition, early cash flow and exploration upside sounds good to me. I have put the link in the header under Latest News.

Nice 400k protected buy just went through.

good start looking for a move into the blue soon!.

Purchases at the moment 1.108 million v 187k sales,
so why has the price dropped?

next few months could get interesting- good to see them acquire asset in colombia, also a country with vast potential.

for those new to goo and want to know more this is an article from sunday times a few weeks back- offers a fair summary.

http://www.timesonline.co.uk/article/0,,2097-2024826_2,00.html

lizard
That article is already in the header cheers any way.