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

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.

Lizaed, Thanks

no clearcut winner expected in y/days Peru elections. the top two players are expected to have a run-off in may/june [edited version of times article,page 31]
the sp hasn't flinched at this news.
Alex

Alex
It hasn't flinched but it's still weak.
2517

as stated above same admin in until july- expect approval over next few weeks for peru and colombia!.

same government are issuing new bidding tenders for more blocks and are proposing signatures around mid july for existing contracts- whether this is goo or not?- but a sign all is ok with perupetrol /ministry of energy.

look at it this way, if you were the goo board and you are going to purchase licenses in peru,surely you would want to know what the economic policys of either party was going to be with regards to oil and gas exploration.
imo i would imagine that they would have sat down with representatives of both partys to see what the outcome would be if either leader was elected,they must know its all good otherwise they would not have pursued it so far.
i feel it is all good and they have done their homework.good management in place,bodes well for the future.
you can see with companys like mrp and eme what can happen if you get the right strategy,i believe goo is similar to those but just one step behind ,but not for long

Gold Oil PLC
13 April 2006


FOR IMMEDIATE RELEASE 13 April 2006


GOLD OIL SIGNS A CO-OPERATION AGREEMENT WITH A STRATEGIC PARTNER IN BRAZIL


Brazil Co-Operation Agreement

The Company is pleased to announce that it has signed a Co-operation Agreement
with Proen Engenharia e Manutencao of Brazil, whereby Gold will act as Operator
in a 50/50 joint venture. All investments will be by mutual agreement.

The companies will pursue amongst other things, onshore oil and gas properties
previously operated by Petrobras that are now being licenced to small companies
in licencing rounds, the next one being in early May this year. Proen is an
engineering contractor servicing the oil and gas industry in the whole of Brazil
with over 700 employees.

Commenting on today's announcement, Gary Moore, Operations Director of Gold Oil,
stated:

'We have been looking for a local partner for some time as we like the
opportunities available in Brazil. Our partners are very familiar with working
in the oil and gas sector in Brazil and have extensive contacts and
relationships that will enhance the acquisition of low risk oil and gas projects
in Brazil.'


Enquiries:


Gary Moore Operations Director Tel: +44 (0)1737833597

Email:
gmoore@goldoilplc.com

Mike Burchell Chairman Tel. +44 (0) 1372361772

Email:
mikeburchell@hotmail.com

Roland Cornish Beaumont Cornish Limited Tel: 020 7628 3396.



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

good stuff spreading the risk!.

shame the city isn't giving them much credit atm.

Peru, Colombia, now Brazil.

these guys are going to be busy!.

Not quite the announcement we were looking for, but then Rome wasn't built in a day!