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

Don't forget the last bit of news from GOO; patience is the name of the game, top up on the dips if you can.


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.

ELECTION NEWS-Survey Confirms Tie of Peru Candidates

Lima, Mar 16 (Prensa Latina) Peru's presidential hopefuls Lourdes Flores and Ollanta Humala remained in a virtual technical tie on Thursday, which confirms a stagnation of the former and a rise of the latter.


According to a DATUM Internacional S.A. survey, carried out Mar 10-12 in 17 of the country's 24 departments, the Unidad Nacional Alliance leader Flores ranked first with 27 percent of vote intention.



The Union por Peru Party candidate Humala ranked second, with 26 percent, followed by president of the Aprista Peruano Party (APRA) hopeful Alan Garcia, with 19 percent.



Candidate of Frente de Centro, Valentin Paniagua, got eight percent and Alianza por el Futuro's Martha Chavez remained in four percent.



Another 15 candidates got at least one percent, while 10 percent of the people are undecided or may just tinker with their ballot papers as a way to oppose the political system. To cast one's vote is compulsory. Otherwise, one may risk to face a 41-dollar fine.

as i understand goo are expecting approval before the election close around 9th april. but management aren't that bothered as the same administration team are in power until july!.

interest getting stronger- judging by the trades waiting to clear a seller out-

very weird?.

approval before the 9th would be good!. you get the feeling the mkt is waiting for this news, as last acq (colombia) didn't give any momentum in sp?.

peru is the companies main asset. whatever it may hold?- i suppose we will get a better understanding over the next few months.

http://www.mworld.com/m/mw.asp?lp=GetStory&id=187776331

Gold Oil to restart NBM production in 2-3 weeks

Released : Mar 14, 2006 10:51 AM

British oil junior Gold Oil aims to start production from the Nancy-Bourdine-Maxine (NBM) oil fields in southwestern Colombia in 2-3 weeks after buying a 40% stake in the fields from a group of small-scale local owners, company CEO Gary Moore told BNamericas.


Texaco discovered the fields and produced some 1,400 barrels a day (b/d) from 1975-95, when they abandoned the fields on economic grounds.



Crude is 34 degrees API, Moore said, adding that the company contracted a rig on March 14 and will now start a workover using a jet pump in the previously explored areas. Initial production will be 300-500b/d.



NBM is surrounded by producing fields, some of which produce in the range of 3,000b/d. If NBM production reaches 1,500b/d, which would take at least a year, then Gold will build a pipeline from the fields to the pipeline terminal, Moore said. Until then oil will be trucked the 13km to the pipeline.



Gold Oil also plans to drill some areas that Texaco overlooked and will drill at least two or three new wells, Moore said.



Gold Oil paid US$330,000 for the stake and has to pay US$220,000 as its share of the reentry costs, the company said in a press release.



The acquisition "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," Moore said in the statement.



The company is optimistic on Colombia and has several other project possibilities under review, he added.

Copyright 2006Business News Americas


Provider:
Business News Americas

why are goo at 6.5p- i don't understand- it proves this acq has done nothing for the sp. may as well not have happened. in fact the sp has gone down since rns.

are they purely waiting on peru ministry approval and drilling to commence?!.

what will the next few months bring?- i reckon those who like a risk are worth putting some on goo!.

lizard
Lets hope it stays above the 7 at the end this time it did struggle a bit on Friday.

Good news on Nancy they didn't waste much time getting going.

from fridays trades it would seem they were looking to clear out a seller!. hopefully we can push on now. friday was strange!.

Not wishing to speak too soon, but this is looking better.
2517

You spoke too soon!!

Lizard, am taking a look also!

next few weeks could get interesting;

waiting approval/ confirmation from ministry of energy (agreed by perupetro) for sechura basin acreage.
drilling to commence sechura april/ may.

update on talara b offshore block.

production to commence colombia nbm in next month.

2q more news i would think!.- possibly the most important time for goo since floatation!.

interesting article on oilbarrel website;

http://www.oilbarrel.com/home.html

go to features

then heading

South American Politics.............

(inc Peru/ Gold Oil plc).

this was from the other main thread!

PeruPetro to hold 2 bid rounds this year - Peru
Published: Friday, March 31, 2006 16:57 (GMT -0400)

Peru's hydrocarbons promotion agency PeruPetro will hold two bidding rounds this year, the agency's general manager JosChez told the Latin Upstream conference in Rio de Janeiro.

PeruPetro normally awards blocks on a first-come first-served basis, but if more than two companies express interest in the same acreage, a bid round is held.

Chez did not say who the interested parties are, but said PeruPetro will open closed-envelope bids April 17 for a block in the Santiago basin and block B-04 in the Maran basins (considered one lot). Bids for Talara basin blocks 23 and 24 will be opened on June 5.

PeruPetro will announce the winner of the first bid round on April 28 and the winner of the second on June 17.

Peru offers a range of exploration possibilities, with two basins unexplored, four underexplored, no deepwater exploration at all and deep formations around the Camisea project in the south of the country and in the jungles of the north, Chez said.

By Karl Royce
BNamericas.com

always thought goo would try to acquire further acreage in peru, so this may be the next of their targets. although they have a vast amount already.

Forthcoming election in Peru, could this explain the current weakness in SP? Any thoughts?

possibly silverm- we are waiting on two contracts to get final approval.

1. Sechura Basin - Peru Ministry of Energy.(expected mid april) drilling to commence april/ may.

2. Nancy Bourdine Maxime- Ecopetrol Colombia. Drilling to commence in next month.

3. Update on offshore Talara B Block Peru.

it has been said by GOO MD same administration are in power until July so not that concerned in regard to election. some have been signed recently and offering new contracts to be bid for.

april could get interesting- i think the spread gives the impression of awaiting news.