2. Block Z34, Offshore Peru
Gold Oil is an independent oil and gas exploration and production company with assets in Colombia and
Peru. The company was incorporated in 2004 and has operated in Peru since 2005
Description:
 Large offshore block (370,000 Hectares), offshore Talara Basin
 Adjacent to the Talara oil fields (1.68 billion barrels produced), though targeting superior quality Pariñas
formation reservoir
 The block is in water depths ranging from 100m to >2000m
 Gold Oil 100% working interest held in two wholly owned subsidiaries
 Despite proximity to nearby producing fields the block is undrilled to date
 Royalty minimum rate is 5% <5000bopd then a sliding scale of up to a maximum 20% royalty at >100,000
bopd, Corporation tax - 33%
Current Licence Status:
 Acquired 2,013 km of 2D seismic in 2009; processed and interpreted
 Acquired over 808sq km marine 3D and additional 2D in July/August 2011 Erika North
 3D seismic interpretation completed 3D area
The Opportunity:
 Significant prospects defined on 3D seismic, with additional potential in 2D identified
 Attractive fiscal terms in an emerging region
 Material working interest and potential operatorship available
Offering:
 Gold Oil’s preference is for interested parties to earn a material interest in the Block by
funding the 2012/2013 drilling programme (minimum 2 wells), including a competitive promote and paying
a share of past costs. The level of promote will form the biddable component in the process. Erika South
3D area
 The ownership structure of Gold Oil in Block Z34 allows flexibility on deal structure (asset vs corporate)

3. Tectonic Elements
 In Z34 the deltaic sequence is present in large fault blocks and anticlines
 Greater displacement between the faulted blocks
 Listric faults have facilitated collapse of the shelf area
 Traps are predominantly fault bounded closures some of which have an
element of independent dip-closure, and anticlinal roll-overs
Northern Z34, Type Section
Southern Z34, Type Section

4.  Unlimited oil charge assumed given the nearby presence of onshore oilfields and expectation of regional Cretaceous source rocks at depth with favourable
migration pathways vertically and along faults.
Charge
 Oil charge considered to be beneath Z34 area, yet fields to the east appear to be full to spill – anticipate no constraint on oil charge
 No evidence of gas mature source rocks in region
 Target section for most prospects shallow or subcropping inshore
 Similar age and type reservoir section expected for all prospects (except stratigraphic traps)
Reservoir  Stong support for presence of reservoirs based on seismic facies
 Reservoir sequence is younger than onshore fields, and likely to be texturally more mature
 Likely facies equivalent to Pariñas Formation with a porosity typically 19-40%
 Fault block closures are proven immediately to the east in the Talara oil fields
Trap/Seal  Francesca is a tilted fault block in the north with rollover component
 Cuy (B) has a four way dip closed element
Seismic Data shows Juxtaposition of Reservoir / Seal Facies in Deltaic Sequences Beneath Prograding Deeper
Marine Shales
4

5. Erika North
3D area
Erika South
3D area
5

6.  Likely Cretaceous
candidates of Muerto Northern oil
and Redondo generative Drainage Cells
Formations are near to kitchen Northern
Prospects
top Palaeozoic
 Examination of the
total sedimentary
thickness of the seabed
to top Palaeozoic
indicates that it is
predominantly
between 2700 and
4000m thick, which are
the green and red
contours on the
attached maps
Blue= Thicker
 These two contours are
considered to be Red= Thinner
indicative of the oil
mature window,
suggesting most of
Block Z34 is in the oil
Drainage Cells
window at the present Southern
day for the main Prospects
Redondo Formation
Type II oil prone source
rock
Southern oil
generative
kitchen

7. IL 1475
 Fault closure at multiple levels in the Eocene
 Compartment of the 2D lead Pisco
 400msecs of closure at green horizon
Pink horizon
TWT Map
Contours 50msecs XL 2650
XL 2650
IL 1475
7

8.  Fault closure at multiple levels in the Eocene
Pink horizon
TWT Map
Contours 50msecs
I
Arb Line 1
Arb Line 2
Arb Line 1 Arb Line 2
I I
8

9. Pink Horizon
 Dip and fault closure at multiple levels in the Eocene
TWT
 400msecs of closure at green horizon and 300msecs at pink
Contours 50msec
IL 1635
Green Horizon
TWT
Contours 50msecs
salt
salt
9

10. Stratigraphic Traps Of The Oligocene And Miocene?
West East
Water depth 1300m
Cross Line
10

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