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

Dont go there!

GOOD news , well on xx1 was spudded over the weekend and drilling to 5200 feet should take approx one month , GM is pretty hopefull.

at last after two years in planning.

strong buying today......would have thought s.p. would have moved north and stayed there..

Hazard a guess that the SP rise on Thurs & Fri factored in this news! The Markets nearly always know before us PI's ever normally find out good or bad news!

watcher
Good news early days.

Update out on Azar at 11.31, future potential!

FOR IMMEDIATE
RELEASE
24 July 2008

GOLD OIL plc
("Gold" or the "Company"; AIM Ticker: (GOO))

Update on Azar, Onshore Colombia

Further to an operational update announcement made on 8 July 2008,
Gold is pleased to announce that on the Azar Block, in which the
Company has an interest of 18.4% NRI, the operator has now completed
perforating and testing the N Sand zone in Palmera-1.

In 1996 the State Oil Company abandoned the well without testing the
N sand. Following re-entry operations in Palmera-1, the well was
tested and on natural flow the well flowed heavy oil, circa 15oAPI,
at an average rate of 45 barrels of oil per day ("bopd") over a
period of 32 hours. The operator has completed the well as a
potential producer on the N Sand.

The Company also announces that the oil has been sent for laboratory
analysis, and the pressure data is being interpreted. The rig has
moved off location.

The technical information contained in this announcement has been
reviewed and approved by Mike Burchell, B.Sc., member of the SPE and
with over 45 years experience in the oil and gas industry.

i think this block has good potential considering its position, the exploration well will be interesting this year.

driver- all eyes on the natural flow and what can be made of it with pumping.

lizard
Or even steaming, can produce as much as three to four times capacity.

After nr two years of planning for XXI they are now underway.

Early days spudded on 20th July believe, about 20 days per well.

Lets hope Gold Oil can continue the trend of finds Oil/ Gas in the region?.

so on a good day, why has Goo taken a bath?

Good question? This should be doing better than this must admit , especially with Drilling results due in two weeks or so! Maybe has hit problems?

for anyone who's following the drill photographs on website.

This ain't a good start! Too much selling but why?

?
games begin!.

unlikely to be caused by good news in the offing

Somebody dumped 11m shares at the open, which started the rout.
Maybe Mr. I. P. is trimming down???

"Gold Oil plc (the "Company") announces that a total of 22,950,000
existing ordinary shares of the Company (the "Placing Shares") have
been placed with institutions by Blue Oar Securities at a price of 8
pence per Placing Share, raising $1.836 million before expenses.
The placing shares comprise the 22,950,000 existing and issued shares
returned to the Company as a result of the termination of its
arrangements with Minmet plc ("Minmet") concerning oil and gas
interests in Cuba and Latin America, previously announced on 2
November 2007."