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

hope so tanker. i wonder if the times guy who put goo in his portfolio will update on sunday?.

posted at top of page!.

Spread online is 7.25p / 7.45p.

UPDATE FROM WEBSITE/PERU-The drilling rig and equipment are now moving off. And the work over hoist is expected on location on wednesday 16th and commence operations friday 18th august

cheers dt014- did you notice the offer after close up to 8.25p again.

Soultrader, back in goo! I hope it is worthwhile. Bought in at these high's today..... worst case scenario is if the sp dirfts until results of drilling.

Can anyone help me here? An RNS to say that the drill prospect looks promising does that mean oil find is almost certain with only speculation on the extent of discovery???

would not say almost certain. but would say early signs encouraging. as to extent if they have something daily mail are speculating huge numbers, but where they got that from ?.

i would not want to be out of these. Z34 looks very interesting hopefully approval this week.

thnks lizard

lizard

in most cases, very often the press officer of the company, may be contacted by the press for
details relating to a hot asset like this one. i bet the daily mail got those numbers from a reliable source. don't think, they would just invent them for fun.

TAKEN FROM ADVFN.......

Stephanie_M - 9 Aug'06 - 21:44 - 5543 of 5543


Hi

The following quote from Mr Moore is quite interesting and nobody has referred specifically to it..."The whole planning and operation of the well has been an exclusively Peruvian one.".
The way I read this is that Gold Oil have hit the jackpot and that Mr Moore is the first to give credit to the work / skill of the Peruvian staff. I have read hundreds of drilling progress reports and this is the first time I have come across a report at such an early stage where the CEO is giving praise to the workers. He would hardly have said these words if it was a dry hole. Its a case of reading between the lines and this is my interpretation of great news.
Yes Gold Oil is coming of age!!
REgards
SM

who got the gold makes the rules. looking good for gold oil.
should i get excited or should i not?

bloody hell its getting tempting AGAIN!.

lizard and others ..... when living in hope, as here, it is all too easy to interpret what may well be meant purely as an innocuous and general comment - e.g. in this case "thank you" - as an indicator of imminent good news.

fingers crossed cynic. but prepared for all situations and will hold whatever.

if you dont hold you may want to get in at these levels. looking strong- Z34 tomorrow?- times tip update sunday?. nancy production to start- drilling update on XXI. brazil blocks- brazil round 8 bidding coming up!. a lot going on!.

DThompson, no disrespect to you but I wouldn't invest the price of a bus ticket based on Stephanie M's interpretation of Gary Moore's words about the Peruvians. It doesn't mean there are hydrocarbons down there any more than complementing Sven Goran Eriksson on doing his best means that England won the World Cup.

Jameel - re a prospect looking "promising". Politicians make promises, but it's results that count. GOO would hardly be drilling holes if they didn't think there was much promise. Having said that, clearly the wirelines have shown sand levels that are of a type capable of bearing hydrocarbons, but they could still be dry.

Excuse my cynicism - perhaps I've spent too long at the computer today. I'm just a little suspicious of the levels of hype involved when one gets too deeply into analysing every word that falls from a director's lips. See the SEO thread if you're unsure of what this means.

soul* ... more likely too long reading my crap! .... lol!!

.-.

you said it cynic!.

http://www.thisismoney.co.uk/investing-and-markets/tips-and-tactics/article.html?in_article_id=411494

where did this come from- they are big numbers for goo.