Gold Oil PLC
21 April 2006
FOR IMMEDIATE RELEASE 21st April 2006
GOLD OIL'S EXPLORATION AND PRODUCTION LICENCE FOR BLOCK XXI, GETS APPROVAL BY
MINISTRY OF ENERGY AND MINES
Gold Oil Plc ('Gold Oil' or the 'Company'), the London-based oil exploration
company, announces that on Thursday, 20th April 2006, in the Government Gazette,
that the Ministry of Energy and Mines approved the Exploration and Production
Licence entered into between Gold Oil and PeruPetro (the State Oil company of
Peru), for Block XXI, onshore Peru and announced on 13 January 2006.
Gold Oil initialized the contract with PeruPetro in December 2005 and. approval
by the Ministry of Energy and Mines now allows the Company to commence drilling
on Block XXI. All equipment for the first well, San Alberto 1X, has been ordered
and Gold expects to finalise an agreement with a Peruvian drilling contractor to
spud San Alberto-1X at the beginning of June at an AFE cost of US$1.3 million.
Colombia Block 21
The Company is pleased to announce that preparation work is progressing well on
the Nancy-3 wellsite and that the operator expects to start workover operations
around 5th May
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