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

lizard,,, too busy watching the sp appreciate, although I did MOR, it was your posts that convinced me to buy GOO a few months ago, thanks, hopefully the sp will continue upwards, I do intend to hold for ALL the benefits, I shall leave them locked away. Good luck to those who hold.
2517

surprised no more additions to posts here.

agree2517- long term hold. need to be brave though as drilling is anyones guess?.

Potential is very big though, and Peru very exciting now the go ahead is given. I would expect plenty of buying before the drilling starts in Peru.

Topped up on the news well done every one for hanging in there.

quietly confident i think is goo board strategy!.

The area of Block XXI is equivalent to just less than 14 UK North Sea blocks.
The target reservoirs are mostly at shallow depths of +/-5,000 feet. Rig and drilling costs enable wells here to be drilled typically for US$500,000 or less. The block lies in a desert area, next to the city of Piura, and to the east of an existing producing gas field. Both lie within the Sechura Basin, which is adjacent to, and is believed to be a sub-basin of the Talara Basin.
The Talara Basin to the north and west has produced over 1.6 billion barrels of oil over a period of 100 years. Independent assessments put the number of reserves remaining to be discovered at 2.2 billion barrels and 5.8 trillion cubic feet of gas. Gold Oil also holds exclusive rights over a second area here, Block Z-34, in the offshore sector of the Talara Basin, also immediately offset from producing fields.

Previously the Company had been interested in the gas bearing Verdun reservoirs in Block XXI, but the recent well by PetroTech offshore Sechura Basin flowed oil at 1200 bopd from the Paleozoic, a reservoir previously not considered over the last 100 years as oil bearing. The Paleozoic reservoirs are believed to run under Block XXI at around a depth of 6000 feet.

Gold Oil shares rose 2.125p to 8p after it said that it had won approval for its exploration and production plans for Block XXI in Peru. The country's Ministry of Energy and Mines approved the exploration and production licence entered into between the company and state oil company PeruPetro. Gold Oil initialised the contract with PeruPetro in December and approval now paves the way for the company to start drilling.

a question for you TVC ...... how much hope is already built into sp do you feel ..... as i mentioned on CHP, having a drilling licence is one huge distance form getting a commercial strike and then getting it out of the ground

More to come from this SP wise on Monday, good press coverage will see this going up again, do not forget it has already been tipped in the Times, guy who covered it will surely have something to say about GOO. Nearly 18 million shares traded today in just 3.5 hours.

The simple thing is, Peru is massive for GOO, if the drill bit hits oil then GOO could be massively undervalued, look at the figures in the header, the market cap, number of shares in issue.

I will be building a bigger position up ahead of June drilling in Peru, that is the major event not too far away now.

I confess that now GOO seems to have been taken into the bosom of the Peruvian govmt, it has rather more appeal (to me) ...... As Times article said, "The company is so small that almost any good news must have a big impact on the share price", but of course that is equally true should there be any news that does not satisfy the hype, let alone bad news ...... NMS is also tiny at only 50k ...... Nevertheless, one to mull over and perhaps invest some of the profits from elsewhere.

don't forget that before drilling starts in peru the colombia nbm contract will be up and running (comm may) delivering short term cash flow!.

this deal imo is a sensible low cost/risk entry point into a country that offers huge exploration opportunities as does brazil (new jv) largest mkt in south amercia for oil and gas!.

driver

You may want to change the charts on the top threrad into "moneyam" one's below is a couple similar to the ones you have on top



Map to get a bigger picture, just add the % that will make the right size you want at the end of the properties, I done a width=30%>


< img src="http://www.goldoilplc.com/images/maperubig.gif"width=30%>

REASONS TO BUY GOLD OILRecent Gold Oil News Headlines
Date Time Source Headline More

21/04/2006 13:23 AFXF Gold Oil gets govt approval for Peru licence
21/04/2006 13:02 UKREG Ministry Approval
13/04/2006 11:01 AFXF Gold Oil forms joint venture in Brazil with Proen Engenharia
13/04/2006 10:33 UKREG Strategic Partner in Brazil
09/03/2006 12:15 AFXF Gold Oil to buy 40 pct stake in Nancy-Bourdine-Maxine fields in Colombia
09/03/2006 11:49 UKREG Acquisition of Interest
14/02/2006 11:58 AFXF Ascent Resources ups stake in Ayoluengo oil field to 88.75 pct
07/02/2006 13:33 AFXF Gold Oil expects drilling to start on Block XXI in Northern Peru in April/May
07/02/2006 13:00 UKREG Contract award and warrants
06/02/2006 12:10 AFXF UK small caps remain higher at midday, Designer Vision gains on Renault deal
31/01/2006 13:15 UKREG Shareholding - Amendment
30/01/2006 12:08 UKREG NPEL Completion

E-mail this to a friend Printable version

Brazil meets oil needs with rig
By Steve Kingstone
BBC News, Sao Paulo



Brazil now expects to become a net oil exporter
Brazilian President Luiz Inacio Lula da Silva has opened a vast new oil rig which will enable the country to be self-sufficient in oil production.
Costing more than $600 million (337m), the platform will generate 180,000 barrels a day.

The total amount of oil produced by Brazil now exceeds the amount consumed by its people.

In the past, South America's largest country had been painfully dependent on imported oil.

Friday's opening of the rig was greeted with some patriotic fanfare.

For decades Brazil relied on other countries to supply it with oil - a dependency that proved disastrous during the two oil shocks of the 1970s.

Then, as prices soared, the Brazilian government had to borrow heavily to meet its energy needs, triggering a destructive cycle of debt and inflation.

Proud moment

Against that backdrop, Friday's opening of the rig off the coast of Rio de Janeiro is being seen as a major step forward in the nation's development.
It's an extraordinary achievement, a privilege only a few countries have

President Lula

Dressed in orange overalls, Lula personally flipped the switch to start production.

As the flow began, the president gleefully drenched his hands in Brazilian oil.

The state-controlled energy company, Petrobras, says the new rig will increase national production to 1.9m barrels of oil a day - slightly more than the quantity Brazil consumes.

Self-sufficiency is quite an achievement for a country that only discovered off-shore oil 30 years ago.

And with global prices on Friday hitting $75 a barrel, it has come at an opportune moment.

"It's an extraordinary achievement, a privilege only a few countries have," Lula said.

Looking ahead, Brazil now hopes to become a net exporter of oil, taking advantage of deep-sea drilling technology that is considered some of the best in the world.



--------------------------------------------------------------------------------

"This is the extract from the recent Times article: "
I have bought shares in a tiny oil and gas exploration business, Gold Oil, which has two big exploration areas onshore and off the northwest coast of Peru.

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 Oils block. Dont ask me to explain the geology because I dont speak Palaeozoic. But a decent oil find here would be a company-maker.

Gold Oil has enough cash to fund this years 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.
"The Latest News."
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.

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) .

Expect a blue start tomorrow and could rocket in the lead up to drilling,better get in early,or you will miss the boat,IMO.
--------------------------------------------------------------------------------

From British Bulls.Com

GOO

Gold Oil PLC
Daily Commentary


Our system posted a BUY-IF today. The previous SELL recommendation that was confirmed was made on 05.04.2006 (18) days ago, when the stock price was 6.3800. Since then GOO has gained 25.39% .

Is this finally a good time to buy? Well, it depends. First check what happened at after hours trading and future values. Then, follow the next session very carefully and be on your toes. This candlestick pattern is a bullish one, but we have to see whether it will be confirmed or not.

Do you see a gap-up at the market open? Do you see a white candlestick forming with a higher close at the session's end? Shortly, is it a nice bullish day? If so, place your buy orders and open new long positions. The market is now on the bull side.

But, be careful, also. If you see a gap-down when the market opens, or if the session closes with a bearish sentiment producing a black candlestick characterized by a lower close, do not challenge the market. Ignore the BUY-IF alert. Cancel the buy orders and cover any new long positions that you might have opened. Bears are still in control.

Regards

Colombia NBM work on site commences may 5th!. onshore drilling in Peru (Sechura block) June contract review Talara B block offshore June. bidding in jv Brazil next few months.

Interesting times for Gold Oil plc.

lizard
Yes very interesting, goo going up nice and steady.