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

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!

;

going to be a busy year for goo!.

colombia nancy bourdine maxine will be operating soon!. drilling peru soon now brazil! oh spain also!.

goo isn't a stock that you could clearly aim to make money from short term and for any new investors should take at LEAST A TWO YEAR VIEW!

you can't predict what will happen in months from now, but as goo have one of the best management teams in small cap oilers, if not the best.
they have a rig ready to start drilling as soon as the peru deal is signed. by they you can see they want to move things forward and are confident deal will come about and very organised in these days of rig shortages.

you're investment is pretty good bet and you should be filling you're boots at these prices.
i have topped up when funds become available , even small ammounts help to acheive where i want to be with goo by the end of the year.
this time next year you could quite easily see a ten bagger from here with GOO

they are working to a five year strategy- so this is a long term play!.

early days for goo but a speculative play with very encouraging potential!.

Just in, nice bit of Goo d news I see keep it coming.

could prove to be good timing- i've been in for well over a year and next few are possibly the most important yet for goo!

portfolio getting interesting.

recent Times article;

http://www.timesonline.co.uk/article/0,,2097-2024826_2,00.html

lizard
It's already in the header.

Peru runoff battle focuses on votes cast abroad
Thu Apr 13, 2006 7:09 PM BST

By Robin Emmott

LIMA, Peru (Reuters) - The battle for a runoff place in Peru's presidential election focussed on about 200,000 votes cast abroad, as aides to a left-leaning former president sought on Thursday to annul ballots that a conservative rival hopes will lift her into second place.

With slightly more than 88 percent of the votes counted after Sunday's election, nationalist former army commander Ollanta Humala was first with 30.99 percent of the vote and assured of a place in a May or June. No candidate won the majority needed to avoid a runoff.

Former President Alan Garcia, whose 1985-1990 rule ended in hyper-inflation and surging violence by Shining Path rebels, was second with 24.42 percent. Conservative rival Lourdes Flores, a lawyer and former lawmaker favoured by international investors, had 23.34 percent.

Flores hopes that the 200,000 ballots by Peruvians living abroad, which are expected to favour her, will be enough to cut Garcia's lead of some 120,000 votes. So far, only 12 percent of the expatriate votes have been counted.

But members of Garcia's American Popular Revolutionary Alliance party, or APRA, have called on election authorities to annul ballots from Milan, Italy; Madrid, Spain; La Plata, Argentina; Miami and New York -- around 110,000 votes.

They say Flores' National Unity party illegally campaigned in those cities on the same day of voting.

"Serious irregularities have been committed in those cities," said senior APRA member Jorge Castillo. "The APRA is calling for ballots there not to be considered," he added.

Flores said it was "an old strategy to annul ballots" and rejected the allegations.

Peruvian election officials declined to comment.

Flores, 46, also urged election authorities to include around 1.5 million marred ballots, which are either illegible or not filled in correctly, in the count.

Members of her party have questioned whether the ballots were held back on purely technical grounds.

"War Declared" ran several Peruvian newspaper headlines on Thursday, underscoring the increasingly tense battle between Flores and Garcia.

BETTER AT THE BEACH

But most Peruvians who voted in the election had lost interest, as the Roman Catholic country took a long weekend to celebrate Easter, and the capital, Lima, emptied.

"This is a time for reflection and relaxation. Flores and Garcia would be better off going to the beach and letting the authorities decide," said 36-year-old economist Julio Licea.

Election authorities told Reuters it would take about 10 days to review and count the marred ballots and a final result would probably not be announced until the end of the month.

Flores says she is determined to beat Garcia to the second round because she narrowly lost to the former leader in the race for a runoff in Peru's 2001 election.

Garcia, 56, lost that runoff to Alejandro Toledo, now the outgoing president.

A string of corruption scandals during Toledo's government and the president's failure to keep his promises on job creation, better schools and prosperity for the half of Peruvians who are poor have revived Garcia's chances.

Garcia has recast himself as a moderate who knows how to manage the country's fast-growing $75 billion (43 billion pound) economy. Using his charisma, he has tried to convince voters he has changed from the days when he refused to pay Peru's foreign debt.

International investors now see Garcia as a far better option than Humala, 43, who has vowed to put Peru's economy in state hands for the benefit of the poor.

Pre-election polls showed Humala would face a tight runoff against Garcia. If Humala were to face Flores, the polls suggested she would win.