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

you're right George, though no long hold AMER .... i reckon both companies are total crap, though just occasionalyy, where there's muck there's brass

Olympic Peru sac oil find on block XIII- next to Gold Oil.
trying to get link.

almost as good as saying your semi with backyard must be as valuable as the detached house with garden next door!

Cynic, I'm still holding AMER along with other oilies, most of which are down.
2517

cynic- lol!

if XIII had neither oil or gas resources i would think XXI chances of success reduced.
the fact that it already produces natural gas and potentially now produces commercial oil- ups XXI's chances imo.

same for Z34 and Rosa Blanca all border oil/ gas fields.

location location location.

Well done LIZARD looks like you topped up just at the right time!!.

Yes congratulations Lizard, you must have shedloads of GOO you were buying stacks when your enthusiasm persuaded me to buy many many months ago. Good luck.
2517

loads!.still good value imo buy and hold.

thought you'ld like the jaundiced analogy - lol!

btw, am having a close(r) look at CEY .... had them ages ago when they were about 30p but i see they have now got up to about 50p .... chart quite interesting

Cynic, don't be in such a goddam hurry to spend your profits on GOO & AMER.
2517

would that i had profits in GOO ...... as for AMER, i bit the bullet a few months back, though at rather higher than where the sp is now

cynic- was that your 850k buy just gone through?

100k is quite sufficient for me in this so-called gem, but more like fool's gold!

Still in also, no free funds though, bugger....

done my limits for now. but will look at situation should funds come into my hands again in nr term. still a good price imo.

encouraging Gold Oil's neighbour Olympic Peru Inc has found oil to go with current gas production.

that sounds good news.

i dont know can always make funds available under 7p offer close.

get your top up major deal?.

yes added again this am. a lot going on here imo!

good value.

looks like Gold Oil have Cairn Energy as new partner for Z34.