Gold Oil has just been floated on Aim and is involved in the exploration for oil in the Americas. The company has just signed an agreement with PetroPeru for exploration in the north of the country and also they have signed a memorandum of understanding with MAN Ferrostaal of Essen, Germany for the evaluation and feasibility study for a more than 200 mln stg petrochemical plant to be constructed in northern Peru.

Following the release of this news AFX commented that brokers believe this could potentially be huge for Gold Oil.

Gold Oil begins geophysical operations in northwestern Peru
AFX


LONDON (AFX) - Gold Oil PLC said it is beginning geophysical operations on Block XI, which covers some 303,000 hectares of the Sechura Desert of northwestern Peru, immediately adjacent to blocks with proven producing reserves.

The London-based oil exploration company said that following processing, it expects the results can be interpreted before the end of May, which will enable the company to design a seismic survey on the block.

'The commencement of the programme announced today will advance significantly the subsurface evaluatio nof the block, and hence, increase its potential value,' the company said in a statement.

Gold Oil, which focuses on the South American and Caribbean region, also said geologist Dr Martin Keeley has joined the board as Exploration Director.

oilyjim- you may find the advfn more useful as a discussion thread if you do not know about?.- there is an interesting article today on the thread about martin keeley new goo exp director.-or can view at www.martinkeeley.net

Thanks i haven't looked for a while

new goo website should be up and running this week sometime- www.goldoilplc.com

http://www.martinkeeley.net

Looks like good news!

Gold Oil PLC
02 June 2005


Gold Oil PLC
2nd June, 2005

FOR IMMEDIATE RELEASE

GOLD OIL COMPLETES FIRST PHASE OF GEOPHYSICAL OPERATIONS
ON BLOCK XI, NORTHWESTERN PERU

OPERATIONS IN NORTHERN PERU

Gold Oil Plc ('Gold Oil' or the 'Company'), the London-based oil exploration
company focused on South America and the Caribbean, announces that it has now
completed the acquisition, processing and interpretation of its aeromagnetic
survey over the entire extent of Block XI. This block covers some 303,000
hectares of the Sechura Desert of northwestern Peru, immediately adjacent to
blocks with proven producing reserves.

The survey, completed on schedule, comprised 5,200 kilometers of airborne
profiles almost exclusively over Block XI, acquired and processed by Fugro
Airborne Surveys, and interpreted by Dr Eric Sutton, a UK-based consultant of
international standing.

The results of the survey demonstrate that Block XI is located such that it
could receive sub-surface hydrocarbon charges from both the west and south.
Potential hydrocarbon traps of the type known in Viru-La Casita Gas Field in
Block XIII, immediately to the west, clearly pass north-eastwards into Block XI.
The rest of Block XIII is currently still under appraisal, but natural gas has
been found in all of the ten wells drilled to date. The gas from the Viru-La
Casita Gas Field is currently being sold to local industry and there are reports
of gas reserves of over 350 billion cubic feet.

Detailed survey findings are now being used to design the optimal seismic survey
on Block XI, for which planning is advanced.

Under the terms of the promotion agreement with Perupetro, Gold Oil has
exclusive rights over Block XI until October 2006. The completion of this first
geophysical phase has advanced significantly the subsurface evaluation of the
block, and increased its value.

Commenting on today's announcement, Mike Burchell, Chairman of Gold Oil, stated:
'The completion of this first phase of geophysical operations in northwestern
Peru marks the transition of Gold Oil into a fully fledged oil operating
company. We continue to advance the timely evaluation of the hydrocarbon
potential of Block XI.'



ENQUIRIES:

Gary Moore Managing Director; Tel: 01737 833597
Email:
gmoore@goldoilplc.com
Mike Burchell Chairman; Tel: 01372 361772
Email:
mikeburchell@hotmail.com
Roland Cornish Beaumont Cornish Limited; Tel: 020 7628 3396

NOTE TO EDITORS

The Acreage

The area of Block XI is equivalent to just less than 14 UK North Sea blocks. The
target reservoirs are mostly at shallow depths of +/-5,000 feet. Rig and
drilling costs enable wells here to be drilled typically for around US$500,000.
The block lies in a desert area, next to the city of Piura, and to the east of
an existing producing gas field. Both lie within the Sechura Basin, which is
adjacent to, and is believed to be a sub-basin of the prolific Talara Basin.

The Talara Basin to the north and west has produced over 1.6 billion barrels of
oil over a period of 100 years. Independent assessments put the reserves
remaining to be discovered at 2.2 billion barrels and 5.8 trillion cubic feet of
gas. Gold Oil also holds exclusive rights over a second area here, Block Z-34,
in the offshore sector of the Talara Basin, also immediately offset from
producing fields.




This information is provided by RNS
The company news service from the London Stock Exchange

ptholden- may find advfn thread more useful more interest there for goo. given up on this one.

lizard

read over there as well, but tend not to post.

pth

Considerable recent activity in GOO at the moment, borrowed a paste and link from another BB. Armed with this information easy to see why interest has been sparked. The Petro find (Z2B) is right next to GOO's offshore block.

pth

Updated: 09:24 PM EDT
US company makes biggest Peru oil find in 30 years
By Marco Aquino, Reuters

LIMA, Peru, June 7 (Reuters) - U.S. oil company Petro-Tech is weighing a $100 million investment after finding oil off the northern coast of Peru, in what the company said on Tuesday was the biggest crude oil discovery in Peru in the last 30 years.

"This is a well that has quality light crude and we estimate the area could have between 10 and 50 million barrels of oil," Pedro Alarcon, Petro-Tech Peruana's exploration manager, told Reuters.

Petro-Tech Peruana, a unit of the Houston-based Petro-Tech International Inc., is Peru's No. 3 oil producer and currently the country's only offshore producer.

Peru, a hydrocarbon-rich country that nonetheless imports oil, had not made new oil discoveries in decades.

The field is located off the shore of San Pedro, Piura department about 500 miles (800 km) north of Lima, in a part of the Pacific Ocean where oil had not been found during 100 years of exploration, Alarcon said.

In April, Peru pumped an average of 115,539 barrels of crude oil daily, rising from 90,000 bpd two years ago when investment was lacking. A new streamlined contract and royalty regime was introduced in 2003, renewing interest in the sector.

Petro-Tech produced in its Talara field 10,200 bpd on average, representing 9 percent of Peru's production, according to April government figures.

"The new well will immediately raise our production by 10 percent because it produces on average 1,200 barrels per day of 35-degree crude," Alarcon said.

Within a few days, the company plans to drill two wells to confirm the size of the field.

"The investment the company is contemplating to develop this is $100 million. That is to build wells, a platform and a pipeline," he said.

The company plans to have up to 30 wells in this area some 14 miles (23 km) off the coast of San Pedro, which has been explored since 2000 at a cost of $10 million.

Peru's Economy Minister, Pedro Pablo Kuczynski, described the finding as "an important oil discovery that changes the outlook for our offshore production. It makes us more self-sustainable in hydrocarbons, which is good news."

Peru's largest oil producer is Argentine-owned Pluspetrol -- which is developing the enormous Camisea natural gas field -- followed by Brazil's state energy giant Petrobras .


06/07/05 21:23 ET

Forgot to post the link to the pic!

http://mirror.perupetro.com.pe/exploracion02-e.asp

lets hope goo get lucky?.

hang in there goo holders-

hello lizard how are you -fine thanks.
talking to myself- once this company confirms what it has in its acreage i tend to think more pi will be filling this thread- in the meantime whilst we await news i will talk alone.

lizard,
Know what you mean, talking to one's self that is. Started up 2 threads,
IEC(some responce once sp moved north) and VOG.
However i have some GOO tucked away, believe in time they will florish. Not
sure if you are aware but Martin Keeley joined from EEN,a famous oil explorer
and entrepreneur, comes with his own web site.
http://www.martinkeeley.net/
Heres a post worth reading from another board,
http://www.advfn.com/cmn/fbb/threads.php3?id=7494620&from=2325
Hope this makes you feel better.
Don't know wether you have read my threads, but both are very close to
some exciting news. In fact there has been some further movement today in IEC.
cyril

looks like we are staying at placing levels until updates- i would expect one soon?.

Thread for the more intelligent.

https://www.moneyam.com/InvestorsRoom/posts.php?tid=8461#lastread

what has this got to do with gold oil-

some news soon would be good?.

something brewing????

What were the unknown deals around mid-day today,buys?
Who is Iraj Parvizi,the owner of 5% shares in GOO?
Certainly looks interesting,now.
Ethel