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

soultraders

Yes, I agree that GOO IS extremely reliant on success at SAN ALBERTO in Peru in order to hit the big time. And what is the time now? It is exactly the BIGTIME.
The prospectivity of the block SAN ALBERTO WELL-XXI is further enhanced by the recent PETROTECH offshore discovery oil in fractured basement palaeozoic.
regional mapping, plus our aeromagnetic survey, has shown potential on block XXI for palaeozoic discovery. Finally, mapping of the palaeozoic basement shows, in the San Alberto prospect, a similar structure to that tested by PETROTECH, San Pedro which was reported to have tested at 1 5 0 0 BOPD
As migration is from the deep kitchen offshore then the San Alberto project is well positioned to trap oil and, given its structural context, there is a strong likelihood that fracturing is well developed and extensive. said GOO.
Now the question is: WHAT IS 1500BOPD IS DOING TO GOO IF GOO FINDS THAT AMOUNT AS PETROTECH? WILL IT BE SWEET OR SOUR?
WELL, I LIKE IT SWEET AND SOUR. best luck to all and to myself.

PALAEOZOIC is: the lowest fossili-ferous strata or the era in which these were formed.
STRATA IS: A horizontal layer of any material; a bed of sedimentary rock

soultrader- you are obviously new to goo and dont understand why they bought this interest in spain. they bought this asset only to gain operator status at a low cost. this is essential in order to pursue in peru. ie you have to have operator status to proceed e and p. goo on gaining this have sold majority of this holding to ast to concentrate on s america only.

it has since been reduced from 50% to 11.25% (further exploration/drilling commencing at the moment).

http://www.goldoilplc.com/release07.html

having briefly read your posts it is clear you dont know much about this company. for example Nancy 80bpd?. it is understood they are looking to achieve initially 500bpd giving goo 40% 200bpd on nancy well only further exploration is planned on nancy maxine bourdine fields and plan to re enter 4 other exisiting wells with workover contracts. they plan to gradually increase production.

George,

Thanks for your feedback and additional info, particularly re San Alberto/San Pedro.

Lizard, thanks -actually I was aware of the strategy with picking up the Ayoluengo asset as it was covered in the announcements when NOP sold; what I missed was GOO's mission and portfolio.

At the current SP I am undecided about this one - I have a fair amount of similar risk on my portfolio already in the shape of BLR (I hear Cynic laughing!), RIFT and EOG Warrants, and may not want to take on more.

My big concern with GOO is that if current ops in Peru don't produce, the SP will suffer a big retrace with little left in the portfolio to bail it out. I agree, though, that the potential upside is exciting and certainly wish every success to those who are in already.

you say all that and you own rift dont make me laugh!.- good luck anyway.

Lizard, thanks for pointing out re 80 bopd at Nancy - I meant to add that it would be developed and have now done so.

By my reckoning the 20% royalty cuts GOO down to a net 32% of Nancy - I don't mean to split hairs but it's the kind of thing that's not being pointed out by the company in its RNS's, yet makes a difference to the bottom line.

As for Rift, we shall see - I have no axe to grind and I'm sure all of us will pcik both winners and losers at different times. I picked RIFT because of its blue-sky potential; at 5 TCF estimated resources it could be a VOG if it's successful :o)

st- agree difficult to choose. homework and luck needed.

SOULTRADERS
Please do not underestimate what GOO can do. i don't own RIFT but first look at it seems attractive but GOO is top banana but iam in to win and to lose. i think by the end of this AUgust you will join us or i will join you with RIFT. however BLR IS STARTING TO SHOW ITS LIGHT. WILL SEE. BEST LUCK

soul* ..... would i ever laugh at you? ... heaven forfend! .... BLR is actually too small for CFDs, though i do confess i have no innate love affair with heavy oils .... they are soooo unsexy! ....... as for GOO, i have a pretty modest holding and i guess i hold the whole of it at least for the timebeing ..... btw, have also bought a few PXC this morning ..... would have bought more, but sp is already up about 4% from Friday ..... if it falls back enough, i may double up

Good morning everyone!

Cynic, LOL! Sorry to hear you don't find heavy oil sexy - I find a little steaming usually does it for me. If not I can always hope for some fracture stimulation :o)

I don't particularly prefer one hydrocarbon over another - it's breadth of portfolio and the numbers game that tend to sway me.

Best of luck to GOO holders - I may live to regret not being in; had I given it some more thought below 6 or 7p I might have gone for it, but with so many other potentials out there I'm keeping some of my powder dry. HNR should be annoucing more exploration drilling news any day, and newcomer Aurelian looks as if it could be worth a go too. All IMO, PDYOR, etc.

Can anyone tell me, are the shares indicated as sell 2x250000 9.75p really buys

safety the answer is they are sells, but i am not selling mine.

why get excited even iof they are sells? It's only 50k; not exactly big beer

T trades gone wrong i reckon- i expect a number were expecting news flow by now including me. but no rush as long as they get it right.

Lizard seems like the mms happy to soak up very large sells over last three days .

perhaps they still have some big buy orders still to fill capetown?.

Possible or they are happy to stock up on them as usually by now the sp would have drifted a little lower on these volumes of sales dont you think

definitely!- inc friday pm trades as well!

Looks like i spoke too soon Lizard,
Can see this back @8p untill further news but HAPPY to hold and add few more

just waiting on updates now- more then likely will gradually go lower- but news could come anytime. also im holding for a few more years yet. so these swings dont bother me, the right news flow which takes time does as does building a company.