Proactiveinvestors USA & Canada Baron Oil Plc https://www.proactiveinvestors.com Proactiveinvestors USA & Canada Baron Oil Plc RSS feed en Sat, 24 Oct 2020 16:57:00 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) Baron Oil hopes to drill El Barco-3X well in 2021 https://www.proactiveinvestors.com/companies/news/928864/baron-oil-hopes-to-drill-el-barco-3x-well-in-2021-928864.html Fri, 11 Sep 2020 09:52:00 -0400 https://www.proactiveinvestors.com/companies/news/928864/baron-oil-hopes-to-drill-el-barco-3x-well-in-2021-928864.html EKF Diagnostics jumps as it inks UK supply contract for coronavirus sample kits https://www.proactiveinvestors.com/companies/news/918389/ekf-diagnostics-jumps-as-it-inks-uk-supply-contract-for-coronavirus-sample-kits-918389.html Wed, 29 Apr 2020 13:58:00 -0400 https://www.proactiveinvestors.com/companies/news/918389/ekf-diagnostics-jumps-as-it-inks-uk-supply-contract-for-coronavirus-sample-kits-918389.html Baron Oil lands North Sea acreage in UK licensing round https://www.proactiveinvestors.com/companies/news/903131/baron-oil-lands-north-sea-acreage-in-uk-licensing-round-903131.html Fri, 20 Sep 2019 07:35:00 -0400 https://www.proactiveinvestors.com/companies/news/903131/baron-oil-lands-north-sea-acreage-in-uk-licensing-round-903131.html Trio of small cap oiler slide on dud Scottish exploration well result https://www.proactiveinvestors.com/companies/news/212680/trio-of-small-cap-oiler-slide-on-dud-scottish-exploration-well-result-212680.html Wed, 16 Jan 2019 09:10:00 -0500 https://www.proactiveinvestors.com/companies/news/212680/trio-of-small-cap-oiler-slide-on-dud-scottish-exploration-well-result-212680.html Baron Oil's drill bit ready to turn at long last https://www.proactiveinvestors.com/companies/news/210215/baron-oil-s-drill-bit-ready-to-turn-at-long-last-210215.html Thu, 29 Nov 2018 10:00:00 -0500 https://www.proactiveinvestors.com/companies/news/210215/baron-oil-s-drill-bit-ready-to-turn-at-long-last-210215.html Baron Oil Plc soon to be 'rolling the dice for shareholders' at Wick and Colter https://www.proactiveinvestors.com/companies/news/311284/baron-oil-plc-soon-to-be-rolling-the-dice-for-shareholders-at-wick-and-colter-11284.html Thu, 22 Nov 2018 11:03:00 -0500 https://www.proactiveinvestors.com/companies/news/311284/baron-oil-plc-soon-to-be-rolling-the-dice-for-shareholders-at-wick-and-colter-11284.html Baron Oil looks forward to Wick well as site survey completes https://www.proactiveinvestors.com/companies/news/205012/baron-oil-looks-forward-to-wick-well-as-site-survey-completes-205012.html Mon, 17 Sep 2018 08:11:00 -0400 https://www.proactiveinvestors.com/companies/news/205012/baron-oil-looks-forward-to-wick-well-as-site-survey-completes-205012.html Baron Oil to take part in Bournemouth oil well https://www.proactiveinvestors.com/companies/news/192666/baron-oil-to-take-part-in-bournemouth-oil-well-192666.html Tue, 06 Mar 2018 11:20:00 -0500 https://www.proactiveinvestors.com/companies/news/192666/baron-oil-to-take-part-in-bournemouth-oil-well-192666.html Baron Oil: Still some hope for a Peru well, but emphasis on “great opportunity” in SE Asia https://www.proactiveinvestors.com/companies/news/166533/baron-oil-still-some-hope-for-a-peru-well-but-emphasis-on-great-opportunity-in-se-asia-166533.html Tue, 27 Sep 2016 10:57:00 -0400 https://www.proactiveinvestors.com/companies/news/166533/baron-oil-still-some-hope-for-a-peru-well-but-emphasis-on-great-opportunity-in-se-asia-166533.html Baron Oil spreading wings into south-east Asia https://www.proactiveinvestors.com/companies/news/166377/baron-oil-spreading-wings-into-south-east-asia-166377.html Fri, 23 Sep 2016 07:55:00 -0400 https://www.proactiveinvestors.com/companies/news/166377/baron-oil-spreading-wings-into-south-east-asia-166377.html Baron Oil contracts seismic programme for Peru exploration project https://www.proactiveinvestors.com/companies/news/106802/baron-oil-contracts-seismic-programme-for-peru-exploration-project-106802.html Fri, 15 May 2015 07:19:00 -0400 https://www.proactiveinvestors.com/companies/news/106802/baron-oil-contracts-seismic-programme-for-peru-exploration-project-106802.html Baron Oil working towards seismic in March https://www.proactiveinvestors.com/companies/news/64869/baron-oil-working-towards-seismic-in-march-75766.html Wed, 24 Dec 2014 07:56:00 -0500 https://www.proactiveinvestors.com/companies/news/64869/baron-oil-working-towards-seismic-in-march-75766.html Baron Oil shares rise amid double Peru boost https://www.proactiveinvestors.com/companies/news/62972/baron-oil-shares-rise-amid-double-peru-boost-73571.html Thu, 23 Oct 2014 08:47:00 -0400 https://www.proactiveinvestors.com/companies/news/62972/baron-oil-shares-rise-amid-double-peru-boost-73571.html Baron Oil shares advance on Colombian farm-out deal https://www.proactiveinvestors.com/companies/news/49579/baron-oil-shares-advance-on-colombian-farm-out-deal-59040.html Tue, 16 Jul 2013 07:29:00 -0400 https://www.proactiveinvestors.com/companies/news/49579/baron-oil-shares-advance-on-colombian-farm-out-deal-59040.html Gold Oil receives three-well "carry" after inking Peru farm-out deal https://www.proactiveinvestors.com/companies/news/47268/gold-oil-receives-three-well-carry-after-inking-peru-farm-out-deal-56346.html Tue, 30 Apr 2013 07:19:00 -0400 https://www.proactiveinvestors.com/companies/news/47268/gold-oil-receives-three-well-carry-after-inking-peru-farm-out-deal-56346.html GoldOil’s new management slashes costs https://www.proactiveinvestors.com/companies/news/40068/goldoils-new-management-slashes-costs-47815.html Fri, 07 Sep 2012 07:54:00 -0400 https://www.proactiveinvestors.com/companies/news/40068/goldoils-new-management-slashes-costs-47815.html Gold Oil plans to advance farm-out process of Z34 block as unveils strategy https://www.proactiveinvestors.com/companies/news/38937/gold-oil-plans-to-advance-farm-out-process-of-z34-block-as-unveils-strategy-46513.html Tue, 07 Aug 2012 08:00:00 -0400 https://www.proactiveinvestors.com/companies/news/38937/gold-oil-plans-to-advance-farm-out-process-of-z34-block-as-unveils-strategy-46513.html Gold Oil expects La Vega Este-1 well in Colombia to reach target depth in August https://www.proactiveinvestors.com/companies/news/38147/gold-oil-expects-la-vega-este-1-well-in-colombia-to-reach-target-depth-in-august-45608.html Tue, 17 Jul 2012 07:05:00 -0400 https://www.proactiveinvestors.com/companies/news/38147/gold-oil-expects-la-vega-este-1-well-in-colombia-to-reach-target-depth-in-august-45608.html Gold Oil reveals drilling delay on La Vega Este -1 well https://www.proactiveinvestors.com/companies/news/37112/gold-oil-reveals-drilling-delay-on-la-vega-este-1-well-44387.html Wed, 20 Jun 2012 07:16:00 -0400 https://www.proactiveinvestors.com/companies/news/37112/gold-oil-reveals-drilling-delay-on-la-vega-este-1-well-44387.html Gold Oil: La Vega Este-1 well spuds in Colombia https://www.proactiveinvestors.com/companies/news/35890/gold-oil-la-vega-este-1-well-spuds-in-colombia-42901.html Wed, 16 May 2012 12:41:00 -0400 https://www.proactiveinvestors.com/companies/news/35890/gold-oil-la-vega-este-1-well-spuds-in-colombia-42901.html Gold Oil encouraged by initial 3D results from Block Z34 offshore Peru https://www.proactiveinvestors.com/companies/news/31077/gold-oil-encouraged-by-initial-3d-results-from-block-z34-offshore-peru-37160.html Tue, 20 Dec 2011 07:38:00 -0500 https://www.proactiveinvestors.com/companies/news/31077/gold-oil-encouraged-by-initial-3d-results-from-block-z34-offshore-peru-37160.html Gold Oil hires Fugro to carry out gravity gradiometry survey at Block XXI in Peru https://www.proactiveinvestors.com/companies/news/30281/gold-oil-hires-fugro-to-carry-out-gravity-gradiometry-survey-at-block-xxi-in-peru-36192.html Mon, 28 Nov 2011 08:37:00 -0500 https://www.proactiveinvestors.com/companies/news/30281/gold-oil-hires-fugro-to-carry-out-gravity-gradiometry-survey-at-block-xxi-in-peru-36192.html Gold Oil to start seismic work offshore Peru early July https://www.proactiveinvestors.com/companies/news/24008/gold-oil-to-start-seismic-work-offshore-peru-early-july-28673.html Thu, 26 May 2011 07:41:00 -0400 https://www.proactiveinvestors.com/companies/news/24008/gold-oil-to-start-seismic-work-offshore-peru-early-july-28673.html Gold Oil to develop Azar block ‘as quickly as possible’ after excellent seismic data https://www.proactiveinvestors.com/companies/news/7760/gold-oil-to-develop-azar-block-as-quickly-as-possible-after-excellent-seismic-data-9878.html Thu, 05 Nov 2009 10:42:00 -0500 https://www.proactiveinvestors.com/companies/news/7760/gold-oil-to-develop-azar-block-as-quickly-as-possible-after-excellent-seismic-data-9878.html Gold Oil looks to raise funds for project development, FY 2009 revenues double to £1m https://www.proactiveinvestors.com/companies/news/7566/gold-oil-looks-to-raise-funds-for-project-development-fy-2009-revenues-double-to-1m-9653.html Fri, 30 Oct 2009 08:17:00 -0400 https://www.proactiveinvestors.com/companies/news/7566/gold-oil-looks-to-raise-funds-for-project-development-fy-2009-revenues-double-to-1m-9653.html Gold Oil takes over Rosa Blanca operatorship, Azar exploration on track https://www.proactiveinvestors.com/companies/news/6506/gold-oil-takes-over-rosa-blanca-operatorship-azar-exploration-on-track-8493.html Thu, 24 Sep 2009 12:49:00 -0400 https://www.proactiveinvestors.com/companies/news/6506/gold-oil-takes-over-rosa-blanca-operatorship-azar-exploration-on-track-8493.html Gold Oil starts production at Burdine-1 well in Colombia, to test 4 & 5 in next 2 weeks https://www.proactiveinvestors.com/companies/news/5278/gold-oil-starts-production-at-burdine-1-well-in-colombia-to-test-4-5-in-next-2-weeks-7104.html Thu, 06 Aug 2009 10:38:00 -0400 https://www.proactiveinvestors.com/companies/news/5278/gold-oil-starts-production-at-burdine-1-well-in-colombia-to-test-4-5-in-next-2-weeks-7104.html Gold Oil shareholder Moore transfers remaining holding in company to ex-wife https://www.proactiveinvestors.com/companies/news/4816/gold-oil-shareholder-moore-transfers-remaining-holding-in-company-to-ex-wife-6561.html Fri, 10 Jul 2009 07:27:00 -0400 https://www.proactiveinvestors.com/companies/news/4816/gold-oil-shareholder-moore-transfers-remaining-holding-in-company-to-ex-wife-6561.html Gold Oil reports good progress in Peru and Colombia https://www.proactiveinvestors.com/companies/news/4389/gold-oil-reports-good-progress-in-peru-and-colombia-6048.html Tue, 09 Jun 2009 09:36:00 -0400 https://www.proactiveinvestors.com/companies/news/4389/gold-oil-reports-good-progress-in-peru-and-colombia-6048.html Gold Oil completes 2D seismic acquisition for Block Z34 offshore Peru https://www.proactiveinvestors.com/companies/news/4153/gold-oil-completes-2d-seismic-acquisition-for-block-z34-offshore-peru--5768.html Fri, 22 May 2009 08:41:00 -0400 https://www.proactiveinvestors.com/companies/news/4153/gold-oil-completes-2d-seismic-acquisition-for-block-z34-offshore-peru--5768.html Gold Oil signs seismic services deal for Block Z34 offshore Peru, work to start imminently https://www.proactiveinvestors.com/companies/news/3878/gold-oil-signs-seismic-services-deal-for-block-z34-offshore-peru-work-to-start-imminently-5433.html Thu, 30 Apr 2009 07:39:00 -0400 https://www.proactiveinvestors.com/companies/news/3878/gold-oil-signs-seismic-services-deal-for-block-z34-offshore-peru-work-to-start-imminently-5433.html Gold Oil contracts seismic data vessel for 2D data offshore Peru, appoints Colombia manager https://www.proactiveinvestors.com/companies/news/3734/gold-oil-contracts-seismic-data-vessel-for-2d-data-offshore-peru-appoints-colombia-manager-5269.html Mon, 20 Apr 2009 09:27:00 -0400 https://www.proactiveinvestors.com/companies/news/3734/gold-oil-contracts-seismic-data-vessel-for-2d-data-offshore-peru-appoints-colombia-manager-5269.html Gold Oil shareholder Moore sells 1.175 million shares, still holds 5.4 pct https://www.proactiveinvestors.com/companies/news/3713/gold-oil-shareholder-moore-sells-1175-million-shares-still-holds-54-pct-5246.html Fri, 17 Apr 2009 09:50:00 -0400 https://www.proactiveinvestors.com/companies/news/3713/gold-oil-shareholder-moore-sells-1175-million-shares-still-holds-54-pct-5246.html Gold Oil promotes Peru manager Tidow to executive position https://www.proactiveinvestors.com/companies/news/1704/gold-oil-promotes-peru-manager-tidow-to-executive-position-5122.html Tue, 07 Apr 2009 09:47:00 -0400 https://www.proactiveinvestors.com/companies/news/1704/gold-oil-promotes-peru-manager-tidow-to-executive-position-5122.html Gold Oil says re-tested Rosa Blanca 1 well comes up dry https://www.proactiveinvestors.com/companies/news/3472/gold-oil-says-re-tested-rosa-blanca-1-well-comes-up-dry-4911.html Mon, 23 Mar 2009 12:06:00 -0400 https://www.proactiveinvestors.com/companies/news/3472/gold-oil-says-re-tested-rosa-blanca-1-well-comes-up-dry-4911.html Gold Oil names Mark Pritchard new charmain, Burchill to remain on board as non-exec https://www.proactiveinvestors.com/companies/news/3346/gold-oil-names-mark-pritchard-new-charmain-burchill-to-remain-on-board-as-non-exec-4758.html Thu, 12 Mar 2009 12:27:00 -0400 https://www.proactiveinvestors.com/companies/news/3346/gold-oil-names-mark-pritchard-new-charmain-burchill-to-remain-on-board-as-non-exec-4758.html Gold Oil to restart Rosa Blanca 1 well testing within 2 weeks https://www.proactiveinvestors.com/companies/news/3221/gold-oil-to-restart-rosa-blanca-1-well-testing-within-2-weeks-4611.html Mon, 02 Mar 2009 10:49:00 -0500 https://www.proactiveinvestors.com/companies/news/3221/gold-oil-to-restart-rosa-blanca-1-well-testing-within-2-weeks-4611.html Gold Oil starts production operations on Burdine-1 well in Colombia https://www.proactiveinvestors.com/companies/news/2951/gold-oil-starts-production-operations-on-burdine-1-well-in-colombia-4287.html Thu, 05 Feb 2009 08:00:00 -0500 https://www.proactiveinvestors.com/companies/news/2951/gold-oil-starts-production-operations-on-burdine-1-well-in-colombia-4287.html Gold Oil says Rosa Blanca 1 well comes up dry, drilling suspended https://www.proactiveinvestors.com/companies/news/2900/gold-oil-says-rosa-blanca-1-well-comes-up-dry-drilling-suspended-4211.html Thu, 29 Jan 2009 11:39:00 -0500 https://www.proactiveinvestors.com/companies/news/2900/gold-oil-says-rosa-blanca-1-well-comes-up-dry-drilling-suspended-4211.html Gold Oil raises £645,000 in placing for development of Burdine field, Colombia https://www.proactiveinvestors.com/companies/news/2820/gold-oil-raises-645000-in-placing-for-development-of-burdine-field-colombia-4116.html Thu, 22 Jan 2009 10:24:00 -0500 https://www.proactiveinvestors.com/companies/news/2820/gold-oil-raises-645000-in-placing-for-development-of-burdine-field-colombia-4116.html Gold Oil finally receives environmental permit for Burdine Wells https://www.proactiveinvestors.com/companies/news/2740/gold-oil-finally-receives-environmental-permit-for-burdine-wells-4020.html Wed, 14 Jan 2009 11:44:00 -0500 https://www.proactiveinvestors.com/companies/news/2740/gold-oil-finally-receives-environmental-permit-for-burdine-wells-4020.html Gold Oil to test Rosa Blanca well in week starting Jan 12 https://www.proactiveinvestors.com/companies/news/2658/gold-oil-to-test-rosa-blanca-well-in-week-starting-jan-12--3915.html Wed, 07 Jan 2009 07:57:00 -0500 https://www.proactiveinvestors.com/companies/news/2658/gold-oil-to-test-rosa-blanca-well-in-week-starting-jan-12--3915.html Gold Oil says 1st exploration well spudded at Rosa Blanca, Colombia https://www.proactiveinvestors.com/companies/news/2494/gold-oil-says-1st-exploration-well-spudded-at-rosa-blanca-colombia-3707.html Tue, 09 Dec 2008 10:41:00 -0500 https://www.proactiveinvestors.com/companies/news/2494/gold-oil-says-1st-exploration-well-spudded-at-rosa-blanca-colombia-3707.html Gold Oil Proactive Investor Presentation https://www.proactiveinvestors.com/companies/news/300386/gold-oil-proactive-investor-presentation-156.html Mon, 20 Oct 2008 23:00:00 -0400 https://www.proactiveinvestors.com/companies/news/300386/gold-oil-proactive-investor-presentation-156.html Gold Oil Proactive Investor Presentation https://www.proactiveinvestors.com/companies/news/300095/gold-oil-proactive-investor-presentation-156.html Mon, 20 Oct 2008 23:00:00 -0400 https://www.proactiveinvestors.com/companies/news/300095/gold-oil-proactive-investor-presentation-156.html Gold Oil takes control of Z34 Block, shares leap https://www.proactiveinvestors.com/companies/news/2087/gold-oil-takes-control-of-z34-block-shares-leap-3169.html Mon, 13 Oct 2008 09:29:00 -0400 https://www.proactiveinvestors.com/companies/news/2087/gold-oil-takes-control-of-z34-block-shares-leap-3169.html San Alberto-2X disappoints, but Gold Oil plans three further wells https://www.proactiveinvestors.com/companies/news/1980/san-alberto-2x-disappoints-but-gold-oil-plans-three-further-wells-3027.html Tue, 23 Sep 2008 11:44:00 -0400 https://www.proactiveinvestors.com/companies/news/1980/san-alberto-2x-disappoints-but-gold-oil-plans-three-further-wells-3027.html Gold Oil receives preliminary approach https://www.proactiveinvestors.com/companies/news/1377/gold-oil-receives-preliminary-approach--2979.html Tue, 16 Sep 2008 11:39:00 -0400 https://www.proactiveinvestors.com/companies/news/1377/gold-oil-receives-preliminary-approach--2979.html Gold Oil: Getting Hotter in South America https://www.proactiveinvestors.com/companies/news/901/gold-oil-getting-hotter-in-south-america-2945.html Thu, 11 Sep 2008 10:06:00 -0400 https://www.proactiveinvestors.com/companies/news/901/gold-oil-getting-hotter-in-south-america-2945.html GoldOil updates on activities in South America https://www.proactiveinvestors.com/companies/news/629/goldoil-updates-on-activities-in-south-america-2908.html Fri, 05 Sep 2008 10:25:00 -0400 https://www.proactiveinvestors.com/companies/news/629/goldoil-updates-on-activities-in-south-america-2908.html Gold Oil excercises option to acquire Invepetrol https://www.proactiveinvestors.com/companies/news/403/gold-oil-excercises-option-to-acquire-invepetrol-2832.html Mon, 18 Aug 2008 11:07:00 -0400 https://www.proactiveinvestors.com/companies/news/403/gold-oil-excercises-option-to-acquire-invepetrol-2832.html Gold Oil spuds second well on Block 21, Onshore Peru https://www.proactiveinvestors.com/companies/news/421/gold-oil-spuds-second-well-on-block-21-onshore-peru-0714.html Mon, 21 Jul 2008 07:03:00 -0400 https://www.proactiveinvestors.com/companies/news/421/gold-oil-spuds-second-well-on-block-21-onshore-peru-0714.html GoldOil increases interest in Nancy, Burdine and Maxine fields https://www.proactiveinvestors.com/companies/news/1868/goldoil-increases-interest-in-nancy-burdine-and-maxine-fields-2706.html
Invepetrol has a 18.5% participating interest in the Union Temporal II & B, which is the operator and licence holder of the Nancy, Burdine and Maxine oil fields in Southern Colombia. The acquisition will take GoldOil’s stake in Union Temporal to 58.05% and 27.29% of net production from the licences. GoldOil has been hampered by the delay of environmental approval for a five well re-entry program on the Burdine Oil Field.

GoldOil’s CEO, Gary Moore said: "We entered into this Option Agreement as we saw an opportunity to acquire some additional low cost producing reserves in a field we are familiar with as well as giving us greater control of the field and thus allowing us to push development of the fields at a faster rate."

Delays are also being encountered at the Rosa Blanca licence where GoldOil has a 36.8% net revenue interest. The delay at Rosa Blanca is also due to a backlog at the Environmental Agency for Environmental Approvals. GoldOil said it now expected the first exploration well to occur after September.

There was better news from the Azar Block in Colombia where previous delays were now overcome, and perforation of the target zones were expected to commence ‘shortly’.


Meanwhile at Block XXI, Onshore Peru, GoldOil confirmed that the well site and drilling pad is mostly complete. A rig is expected on site by Friday.


Also in Peru, interest in the area around Offshore Block Z34 has heightened after a gas discovery was made to the south, and Shell farmed into a block to the north. GoldOil and its partners are still awaiting environmental approval to conduct a seismic survey.




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Tue, 08 Jul 2008 08:02:00 -0400 https://www.proactiveinvestors.com/companies/news/1868/goldoil-increases-interest-in-nancy-burdine-and-maxine-fields-2706.html
GoldOil climbs after firming up drilling schedule https://www.proactiveinvestors.com/companies/news/1642/goldoil-climbs-after-firming-up-drilling-schedule-2415.html Thu, 01 May 2008 10:07:00 -0400 https://www.proactiveinvestors.com/companies/news/1642/goldoil-climbs-after-firming-up-drilling-schedule-2415.html GoldOil divests Ayoleungo Oil Field https://www.proactiveinvestors.com/companies/news/1564/goldoil-divests-ayoleungo-oil-field-2312.html Tue, 15 Apr 2008 08:45:00 -0400 https://www.proactiveinvestors.com/companies/news/1564/goldoil-divests-ayoleungo-oil-field-2312.html Gold Oil Snaps up 20% Stake in Azar Block https://www.proactiveinvestors.com/companies/news/1416/gold-oil-snaps-up-20-stake-in-azar-block-2132.html
The Azar Block is located to the northeast of Gold Oil’s Nancy, Burdine and Maxine oil fields and immediately east of the Guayoyaco Block in which the Juanambu discovery well was drilled in November 2007 with a flow rate of 1,410 bopd.
Gary Moore, chief executive of Gold Oil, said, "We are delighted to conclude this SPA and look forward to working with Gran Tierra. "This agreement represents a resounding endorsement of our clear strategy to appraise and develop assets and build up the capital value of the Company."
Gary also added “the possibility of early production from the Palmero 1 well re-entry will be an added bonus”
GOO moved up 4.5% on the news.
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Fri, 29 Feb 2008 10:37:00 -0500 https://www.proactiveinvestors.com/companies/news/1416/gold-oil-snaps-up-20-stake-in-azar-block-2132.html
Gold Oil aims for more production, reserves https://www.proactiveinvestors.com/companies/news/1260/gold-oil-aims-for-more-production-reserves-1915.html
Gold Oil's Chairman, Michael Burchell made it clear to investors in his statement that the company was concerned about the time lag in obtaining environmental approval for seismic and drilling operations in Peru and Colombia. Mr. Burchell added that Gold Oil was still confident of completing its drilling ambitions, but added "we can only hope that approvals are obtained soon." so that the Company could carry out its 2008 exploration ambitions.

Gold Oil is waiting for approval to acquire seismic over block Z34, and may require additional approvals to drill three additional wells on Block XXI, depending on the final drill locations.

Gold Oil went on to discuss the Nancy well where it is already producing oil; a surface pump to increase production will be installed this year and the Company will acquire a small seismic survey to identify further well locations.

Overall, Gold Oil said it expects to increase production and reserves in 2008.
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Wed, 23 Jan 2008 03:49:00 -0500 https://www.proactiveinvestors.com/companies/news/1260/gold-oil-aims-for-more-production-reserves-1915.html
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