Gold Oil looks for partners on Block A-34 offshore Peru

Source: Gold Oil

Gold Oil continues farm-in discussions for Block Z34, located in the offshore Talara Basin, Peru. The company has received interest from a number of international oil companies.

Gold Oil continues to evaluate historic 2D seismic data and proposes to acquire 3D in 2011 with its chosen farm-in partner(s).

The company notes some recent speculation about the status of the license and confirms that Gold continues to meet the contractual obligations of the license and retains its 100% interest.

Gold Oil Peru SAC received notification from the DGAAE (department for environmental and social permits within the Ministry of Energy and Mines) that the latest set of requests from the regional governmental institutions needed to be answered in order to finalise its PMA (environmental management plan approval) process. Gold requested additional time to get the replies back to the regional institutions, but this request was denied by the ministry.

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