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.

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

yes they were buys- think he is a dubai based investor- added at around 4p-4.25 we must be due some news.

Investor from Dubai,interested in Gold. He Must really know his stuff. Dubai region is filthy rich in oil. I guess hes got hold of some privileged info from friends in the oil industry who have contacts with Gold and took a gamble on this minow.

If thats the case it sounds like insider dealings to me. "Is it a crime in dubai for insider dealing", I dont know.

Either way we should know pretty soon, as any positive news reported on the rns lifting the share price even higher will point to mr Parvizi as having fishy interests.

Anyway im not complaining. another small rise will see me in big profit.

What happens October 2006 when their exclusive rights over block XI expire?
"Buy if" on British Bulls and chart looks o.k. for a rise.
Ethel

NOW LOOKS LIKE A VERY GOOD TIME TO BUY :O)

i think it would be better to buy when news is released from company if positive obviously- i am a holder but will await direct rns hopefully good and soon. not buying on the back of mm hype.

positive day today majority buyers!

who are these new investors each putting in around 1m sterling each?

don't care Lizard, the SP is rising!
:-))