35-year-old Goater arrived at Roots Hall in the summer, saying that he would play for one final season.
But after the Shrimpers have made such an impressive start to the season the veteran forward could extend his playing career.
He said: "I'm really enjoying myself at Southend, I like the atmosphere and the way the gaffer works. I've been very impressed by him and the spirit here is fantastic too.
"I think that would still be the same even if we weren't doing so well and, because of those positives, I could certainly be persuaded to stay on here a bit longer."