Gold Oil Plc: Streamlined exploration

Source: Stock Market Digital

Date :07/12/2007 08:42:33

ExecUK spoke to Managing Director John Gary Moore about how exploration and production company Gold Oil Plc is taking advantage of Irish investment and a streamlined corporate governance structure.

Written by James Hurley & Produced by Alex Smith

An independent exploration and production company, Gold Oil Plc looks for oil and gas interests in several South American and Central American countries. Its strategy involves exploring for, appraising, developing and producing oil and natural gas, and building up the capital value of its projects to a point where it can pay dividends or be sold to a new buyer. Such projects may be acquired through direct investment, or by acquiring all or part of an existing or newly-formed company or business.

Peruvian focus

An initial focus on Peru has led the AIM listed company to establish a significant entry position in the country. It currently faces limited competition, as there are few North American or European oil and gas companies operating in north western Peru.

However, in other areas, notably the basins to the east of the Andes, this is changing rapidly as companies are increasingly seeing the opportunities available and are responding to the terms offered by Peru. Yet, as an early entrant in the country, Gold Oil finds itself in an enviable position.

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. Gary Moore, Gold Oil’s Managing Director, first went to Peru as a consultant with Shell in 1996.

“Peru has the right atmosphere for us at the moment; it has the right Government and the economy is booming and there’s no reason for that to change…

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