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

take a look at ser news out.

It follows red two days ago; blue yesterday so today is green.

harrycat- parvizi has 38m not 3.8m.

Apologies for the typo, lizard. Should read 38.6m shares.
Amazing what havoc a stray decimal point can do to a portfolio!

I,ll have the spare!

Few buyers back in at 9.90.

those who did their serious research should be happy to hold or buy more. But timing is the key. one thing is clear is that the management is quite patient and i suspect a positive outcome but we will see. Do not underestimate what Goo can do. best luck

as far as management goes you would need to be very patient, as forming the right relationships with the likes of perupetro, ecopetrol, anh brazil etc is key to future success. pushy foreign companies would not go down well imo.

thats why it is a waiting game.

Plectrum Petroleum PLC

22 September 2006

Plectrum Petroleum Plc (the 'Company')

Issue of Equity

The Company has today made application for 470,430 new ordinary shares of 5
pence each to be admitted to trading on AIM representing 0.26 per cent. of the
enlarged share capital in the Company, pursuant to the issue of shares to an
employee of the Company in accordance with the Company's share scheme.

Admission to trading is expected to occur on 28 September 2006. Following
admission the enlarged share capital of the Company will be 180,372,499 ordinary
shares of 5 pence each.

Z-34 looking closer!!!

TVC15, Any chance you could expand further on Z-34, please.....?

ORACLE ON ADVFN.........The email I received from Gary Moore this morning was that the press release has been compiled and is doing the approval rounds so they arent waiting for anything else to stick in its just getting checked over before being released.

perhaps you could remove oracles name dt014- im sure he would appreciate it. not me but would not want my post id spread everywhere. monday?

Weekend release bad news 7.30 am monday good news we hope!

Laurie??? what are you saying

what a total non seq laurie

LS - We need to know what "weekend bad news" means exactly.

markusantonius, here is your info on Z-34.


August 07, 2006
By the middle of July the Company was qualified as an Operator for Block Z34 and was awarded an Operator Certificate by Perupetro. Our partner, Plectrum, was also qualified as a non-operating contractor for Z34. Negotiations with Perupetro on the Exploration and Production Licence for Z34 are well advanced and it is envisaged that the contract will be initialised in early August. The next step in the process is approval of the board of directors of Perupetro, before seeking approval from the Ministry of Energy and Mines.

June 2006
In May 2006, the Company signed a Carried Interest Agreement with Plectrum Petroleum Plc whereby the Company is carried through the first seismic phase of work envisaged for the exploitation of Block Z34. The value of the carry to the Company is estimated at $1-1.5million depending upon the extent of work programme agreed with Perupetro. The agreement is conditional upon the Company and Plectrum Petroleum being successful in being awarded an exploration licence for Block Z34 by Perupetro. Negotiations with Perupetro have commenced.

Peru - Peru San Alberto Well - XXI - Offshore Block Z34

Try the website for more info.

Sorry for confusion I meant the timing of the release nothing more!

Z34.
a 30yr license from the ministry will give some value to goo!. 1m acres offshore talara basin peru. interesting!.

Fish can fly. Best luck to Goo.

Come on then, soar.....!