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GOLD OIL plc ("Gold" or the "Company"; AIM Ticker: (GOO))
Drilling commences on second well on Block XXI, onshore Peru
Gold Oil, the AIM listed oil and gas explorer and producer with assets in Colombia and Peru, today announces that the spudding of well SA-2X commenced over the weekend.
Well SA-2X, Block XXI, Onshore Peru
Drilling is expected to reach a target depth of 5,200 feet and take approximately one month to complete.
Block XXI was acquired as a high risk-high reward block but the results of SA-1X and recent geophysical work reduces the risks for this well but there is still a large exploration upside associated with the well and the rest of the block..
Gary Moore, CEO of Gold Oil, commented today, "the Board is excited to begin the next phase of drilling. We look forward to keeping the market informed of developments."
The technical information contained in this announcement has been reviewed and approved by Mike Burchell, B.Sc., member of the SPE and with over 45 years experience in the oil and gas industry.
For further information:
Gold oil plc Michael Burchell, Director Tel: +44 (0) 1372 361 772
Beaumont Cornish Limited Roland Cornish Tel: +44 (0) 20 7628 3396
Blue Oar Securities Jerry Keen Tel: +44 (0) 20 7447 4492
Conduit PR Jonathan Charles/Ed Portman Tel: +44 (0) 20 7492 6611
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SOURCE: Gold Oil PLC
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