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Gold Oil makes progress on concessions in Colombia and Peru

Friday, September 05, 2008

Gold Oil, the oil and gas group working in south America, has received environmental permits for its Rosa Blanca concession, onshore Colombia and its Z34 concession, offshore Peru.

In the Rosa Blanca concession, where Gold Oil has a 40% participation interest and is operator, work on construction of the drilling platform for the first exploration well has started. The first phase work programme under the licence with the ANH is for a single vertical exploration well to be drilled before Christmas this year.

In the Z34 concession, the company has a 50% participation and is operator, with Plectrum Petroleum (now Capricorn) holding the other 50%. The company said it expects to have completed seismic acquisition before the end of the year.

The news comes as the company reported that on San Alberto 2, onshore Peru, the company had released the Petrex drilling rig and a test rig had been mobilised. Testing has commenced, with a time scale of between 10 and 120 days depending on the success of the testing.






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