Feb 01
Gold Oil Plc was incorporated in 2004 to identify and develop oil and gas interests in Latin America, currently focusing on Peru, Colombia and Cuba.   The company aims to search out, evaluate, and develop oil and natural gas fields and build up capital value through the projects so that it can pay dividends to investors.

The Directors of the company have extensive experience in mergers and acquisitions, corporate management, and working with businesses in Latin America put them in a unique position to locate and evaluate investment opportunities.

Assets

Currently Gold Oil has established entry positions in Peru and Colombia, and one of its fields, Nancy, is currently producing at a rate of 300 barrels of oil per day (bopd).  The company expects to expand this production by 200-400 bopd in early 2011.

Gold Oil is in the process of exploring and analyzing two additional fields in Colombia, Azar and Rose Blanca.  In Azar Block, Gold is entering into agreements for 70 square miles of 3D seismic above one large lead area, as well as one exploration well.  in the Rose Blanca block, the company has struck a deal with a Colombian company, Montecz SA, for drilling one well plus testing.

In Peru, the company has obtained licences for two different blocks.  In Block XXI, drilling has begun on two exploratory wells; however the work in this block is on hold pending approval for environmental permits.  The licence for Block Z-34 and the Environmental Impact Assessment have been approved and 2013 kilometres of 2D seismic have been obtained.  The contract is currently on hold pending environmental permit approval for a modification of the 3D seismic grid planned for the next phase of exploration.

Gold Oil has also entered into an agreement with German company Ferrostahl for a major petrochemical development in Peru.

The company has also taken the first steps toward expanding operations to Cuban-held reserves by becoming qualified as an Onshore and Offshore Operator in Cuba.

Shares of Gold Oil Plc (GOO) are listed on the London Stock Exchange’s Alternative Investment Market and were trading at 5.22 p as of 26 January 2011.

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Jan 12
Global Energy Development PLC (“Global” or the “Company”) focuses its petroleum exploration and production enterprises on Latin America.  The management team is experienced in operating in the area, and the company pursues a long-term strategy of finding and developing reserves.

Global holds six development contracts, five in Colombia and one in Peru.  These contracts range from fully developed and producing oil, to the earliest stages of exploration, thus balancing the company’s portfolio between exploration, development and production opportunities.  As of December 2009, Global held 147.1 million barrels of oil equivalent (BOE) in proved plus probable reserves.  With possible reserves added in, the total is 272.9 million BOE.

Of the company’s three contracts in the Llanos basin area of Colombia, one is fully developed and producing oil; a second is at the stage of drilling exploratory wells, with several drilling projects for 2010 and 2011.  For the third contract, and for two additional Colombian contracts in the Middle Magdalena basin, the company is in the process of setting up 3D seismic exploration projects.

In their September 2010 interim report, the company reported that profits were up 63% over the previous year, based largely on oil price recovery.  This report also described Global’s ambitious 3-year plan to accelerate exploration and development of its holdings, which includes drilling 13 new wells and re-entering one well, and obtaining 3D seismic analysis of two contracts, as well as building facilities to exploit discoveries.  Global anticipates that this 3-year plan will increase its proven reserves by approximately 200 million BOE in proved reserves (current total is 60.8 million BOE).

Global Energy Development has one contract in Peru, which is poised to enter the development stage.  On 13 December 2010, share prices rose 15% upon the announcement of an agreement to farm-out 60% of Global’s interest in the Peruvian contract to Gran Tierra Energy, which will assume 100% of the operating costs.  Global retains a 40% interest in the contract.

Shares of Global Energy Development Plc (GED) are listed on the London Stock Exchange’s Alternative Investment Market and were at 110.00 p as of 07 January 2011.

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