Gold Oil PLC is a newly-incorporated company that has been established in order to identify and acquire projects in the oil and gas sector, with particular emphasis on Central and Southern America, and initially focused on Peru. Such projects may be acquired through direct investment, or by acquiring all or part of an existing or newly-formed company or business.
The Company presently faces limited competition, as there are few North American or European oil and gas companies operating in Northern Western Peru. However, in other areas, notably the basins to the east of the Andes, this is changing rapidly as more and more companies see the opportunities available and respond to the terms offered by Peru. The Executive Management has spent the last ten years working in the region, and believes that they have the contacts and local knowledge to capture and exploit economically attractive opportunities.
The Directors believe that their broad collective experience in the area of mergers and acquisitions and corporate and financial management in relation to small and medium sized businesses will assist them in the identification and evaluation of acquisition opportunities.
- A very significant entry position established in Peru.
- Producing reserves in Spain and in Colombia.
- Block XXI Licence approved and first exploration well spudded in July 2006.
- Block Z-34 Approved by PeruPetro and the Ministry of Energy and Mines.
- An agreement with MAN Ferrostaal of Germany for a major petrochemical development in Peru.
- A 24.67% interest in Minmet Plc to explore in Gold non-core areas.