Gold Oil said the first exploration well on the Rosa Blanca concession in the prolific Middle Magdalena Valley in Colombia was spudded on December 6 2008, after a short delay due to severe rain in the area.
Gold Oil is joined in the Rosa Blanca concession by Osage Exploration and Development, Inc
of the US, Lewis Energy Colombia and EMPESA, SA, both Colombia.
Lewis Energy Colombia's number 3 rig was mobilized from San Antonio, Texas, to drill the Rosa Blanca-1 well. Gold expects to reach total depth of around 3,800 feet before the end of December, with testing to follow. Gold Oil's 40 percent working interest is carried through the well and 30 days of testing.
Gold Oil is an AIM-listed oil and gas exploration and production company primarily focused on opportunities in Latin America. It has oil production in Colombia and significant exploration acreage and licences both onshore and offshore in Colombia and Peru.