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

Have a great hols, driver! Looking forward to more fun and games when you get back!

soul
Cheers

Driver - No chance I suppose of holidaying in S. America & doing a little 'on the ground' research for us.
Italy is nice, but all that pizza & pasta can't be good for you?

Italians live longer than Brits, Harry.

Less heart disease, etc.

not in Sicily they don't!

LOL - that would be the lead-poisoning, I guess?

Maybe that's so, but just imagine if we had a man on the ground in Peru with internet access!
Italy is fantastic, but I am sure Peru must have it's good points!

I've heard Macchu Picchu is well worth a visit.

Sorted then. Who's gonna tell DRIVER his flight has changed?

That's your job, Harry, I have to go to the supermarket.

Soul* .... like the old gonorrhea joke .... can be paraphrased badly that you don't die from gonorrhea; you do if you give it to Big Louie.

I put a stone on in Majorca last week another stone s worth of pizza & pasta can't do any harm.
Its been a good week for goo the new sp held up well

Cynic - LOL - a rare case of VD making one bleed from the ears . . . . :o)

Driver, I've been losing weight; I think I should go with you and you can show me how you do it.

Actually, Cynic, that line of yours is doubly funny due to its timing - just this morning a friend of mine was telling me he'd had to seek treatment for an STI after a mishap with a hooker.

(Now you're wondering what on earth I've been getting up to here in Frankfurt - actually I'm the one who just hears about all these escapades from others. Believe it or not . . . )

I would not pry into such things in such a public venue ..... Anyway, assume you mean an STD, and tell him next time to use a good agency - cheaper in the long run!

We seem to have deviated from the matter in hand, guys! (If you'll excuse the expression).
From oil exploration in Peru, via Italian cuisine to German hookers.
Lets hope for zero STDs, lots of olive oil and lots of Peruvian oil soon!

at least within the next two/three weeks we will know the outcome of XXI, Nancy, Z34.

Cynic - ST "Infection" or ST "Disease" - it's all the same thing.

Anyway, from one lot of goo (sorry for being disgusting, but I'm reaching desperately for a link here) to another: time for me to have a deeper look at what Gold Oil has in store.

If anyone's wondering why I haven't DYOR'd properly sooner, it's because I was distinctly underwhelmed when GOO announced they were buying the Ayoluengo assets from Northern Petroleum, which I have been following for donkey's. Ayo produced at the time about 3.5 teacups of oil per decade, and really gave me the impression that GOO was probably a bit mickey mouse. So I concentrated on other things instead.