1. Offshore Peru Block Z34
Early Indications
from the Results of
3D Seismic Survey

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3. General activities of Gold Oil

4. Peru Offshore Block Z34
Description:
• Large offshore block (370,000 Hectares)
• Located in the offshore Talara Basin
• Next to the Talara oil fields (>1.5 billion barrels produced)
• The block is in water depths ranging from 100m to >2000m
• Gold Oil 100%
Current Status:
• Acquired 2,013 km of 2D seismic in 2009; processed and
interpreted
• Acquired over 800 sq km marine 3D in July/August 2011
• Scope increased significantly (from 500 to 800 sq km) but
within original budget
The Opportunity:
• The USGS estimates that 1.68 billion barrels remains to be found in
Peru, predominantly offshore
• Numerous (>10) leads identified on 2D seismic
• Significant resources with company making potential
Our Plan:
Processing of 3D seismic commenced
Interpretation to be finalised Q4 Seismic example showing tilted fault block
Seek partner to fund two wells in 2012/13 Seismic line through Pisco and Chilcano fault block leads
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5. Location Map

6. Block Z34 ~ Positive read across from BlockZ38
• Karoon Gas farmed in funding seismic and
two wells
• D&M valued Karoon Gas’ 75% of Block Z38
at US $657 million.
• Karoon announced plan to drill 2012
• Latest report shows Block Z38 unrisked P50
resources at 2.2 billion barrels
• ‘G’ Prospect target in Block Z38 seen
extending into Block Z34.
• Mean Prospective resource of 419 MMb
Gold Oil has 100% equity and
ascribes a significant value to
neighbouring Block Z34
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7. Block Z34 ~ Prospects and Leads Summary
Prospect ‘G’
Cuy Substantial Identified Hydrocarbon Potential
• Significant leads/prospects identified
• 2D seismic interpretation indicates large structures
• Completed 3D seismic in July/Aug 2011 to confirm
and further define the prospects to ‘drill ready’
status
Block Z34 Gross Unrisked Resource Potential
Francesca P (10) P (50) P (90)
Prospect /Lead mmboe mmboe mmboe
Chilcano 1,985 823 191
Prospect ‘G’ 311 150 31
Pisco Pisco 752 134 8
Francesca 832 232 109
Cuy 214 67 35
Chilcano
____________ _______ ______ _____
Total Unrisked 4,094 1,406 374
Note: Figures based on internal Gold Oil estimates
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8. Erika 3D Seismic Acquisition
• Environmental authorisation awarded 9th of May
2011 by the Ministry of Mines and Energy
• Contract signed with BGP Geoexplorer 4th of July 2011
• Vessel BGP Pioneer mobilised from Africa
• Adquisition initiated 6th July 2011 from Paita
• ~800+ km sq km 3D in two areas over Erika North and
South
• Some 2D seismic lines
• Processing is in progress with CGGVeritas

9. Seismic Database
• Gold Oil acquired 2013 Km seismic 2D in
2009, only onboard processing with poor
data quality resulting.
Erika North • Gold Oil contracted Schlumberger Australia to
3D area reprocess the seismic information by Gold to
PSTM
• The SEG Y archives were received in
September 2010 and were reinterpreted.
• Gold Oil acquired 800 sq km of 3D seismic in
2011, which is currently being processed and
a preliminary cube of Erika South is available
today.
• Additional 2D and 3D is available that covers
the adjacent blocks including the inshore
Erika South blocks, and some of the well data.
3D area

10. Prospects mapped on 2D seismic data
Reservoirs of Eocene sedimentary sequences with traps in
rollover anticlines with 4-way dip closure.
Erika North
zone 3D Reservoirs of Eocene sedimentary sequences with traps in
fault blocks and fault closure.
Reservoirs of Eocene sedimentary sequences with traps in
rollover anticlines with fault closure.
Stratigraphic traps of deep marine fans (LST) of the Oligocene
or Miocene.
Possible objectives in poorly defined structures from
deeper levels.
Erika South
zone 3D Shallow turbidites from Oligocene depocentres.

11. Talara Basin Petroleum System
Seals – marine shales segregate and
sealing sandstone beds and lateral seals
across faults
Reservoirs – Eocene coastal and shallow
water sandstones and deep water
turbidites of Talara and Salinas groups.
Source rock – Analysis of oils in Talara
Basin indicates most likely candidates in
Tertiary marine shales and in the case of
Z34 the Late Cretaceous Redondo
Shales are the most important.
Traps – mainly structural and
combination structural/stratigraphic,
rotated fault blocks and turbidites.

12. Redondo Formation Source Rock
Sediment thickness of overburden of Oil Migration Pathways
Redondo Formation
Northern oil generative
kitchen Drainage cells
For
Northern prospects
Blue= Thicker
Red= Thinner
Drainage cells
Southern oil generative For
kitchen Southern prospects

13. Reservoirs
1) Redondo Formation marine sandstones intraformationally sealed by marine shales
2) Mal Paso, Petacas and Ancha formation sandstones sealed by Paleocene shales
3) Mogollon sandstones sealed by shales in tilted fault blocks
4) Deltaic sandstones of the Chacra-Salinas Group intraformationally and top sealed by Talara Shales
5) Talara Sandstone distal marine and turbidite sandstones
6) Basal Miocene slope fans
7) Basal Miocene basin floor fans

14. Pariñas Fm reservoir/ Talara Fm seal
Seismic data shows juxtaposition of reservoir / seal facies in
deltaic sequences beneath prograding deeper marine shales
Line NS-04
Progradational Facies
Deltaic Facies

15. Fault blocks on 2D in Erika South Area
Erika
South

16. Anticline on 2D in the Erika North area
Erika
North

17. Type 1 Prospect – Erika South 3D
Eocene deltaic sandstones in Rollover anticline
West East
Water depth 900m
Time slice
Cross Line

18. Type 2 Prospect – Erika South 3D
Middle and upper Eocene deltaic sandstones in fault blocks
West East
Water depth 800m
Arbitrary line
Time slice

19. Type 3 Prospect – Erika South 3D
Stratigraphic traps of the Oligocene and Miocene?
West East
Water depth 1300m
Cross Line

20. Type 4 Prospect – Erika North 3D
Eocene deltaic sandstones in Rollover anticline
Post stack migration

21. Contacts
Gold Oil Plc
Richard Mew
Chief Executive Officer
rmew@goldoilplc.com
Ian Reid
Exploration Director
ireid@goldoilplc.com
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