Gold Oil has just been floated on Aim and is involved in the exploration for oil in the Americas. The company has just signed an agreement with PetroPeru for exploration in the north of the country and also they have signed a memorandum of understanding with MAN Ferrostaal of Essen, Germany for the evaluation and feasibility study for a more than 200 mln stg petrochemical plant to be constructed in northern Peru.

Following the release of this news AFX commented that brokers believe this could potentially be huge for Gold Oil.

The Gaurdian

http://www.guardian.co.uk/business/story/0,3604,1330526,00.html

Agincourt - 21 Oct'04 - 23:13 - 238 of 240 (premium)


ABOUT THE COMPANY

Gold Oil PLC is a newly incorporated company that has been established in order to identify and acquire projects in the natural resources sector, with particular emphasis on oil and gas projects predominantly within Central and Southern America, initially focused on Peru. Such projects may be acquired through direct investment, or by acquiring all or part of an existing or newly formed company or business.

The Company presently faces limited competition, as there are few, if any, North American or European oil and gas companies operating in Northern Peru. Additionally the Company will benefit from a low cost workforce. The executive management has spent the last eight years working in the region and believe that they have the contacts and local knowledge to capture and exploit economically attractive opportunities.

The Directors believe that their broad collective experience in the area of mergers and acquisitions and corporate and financial management in relation to small and medium sized businesses will assist them in the identification and evaluation of acquisition opportunities. As appropriate the Company will engage third party accountants and other professional advisers to assist in the due diligence on potential targets.




Agincourt - 21 Oct'04 - 23:13 - 239 of 240 (premium)


PHILOSOPHY AND STRATEGY

The Directors intend to identify and acquire projects which may be in the exploration phase, but it is more likely that they will be at a later stage of development. The Directors believe that significant acquisition opportunities exist and that they have the contacts, experience and expertise to exploit such opportunities. Where considered appropriate by the Directors, competent professional advice will be taken on the merits of a project.

The Directors see exploration and appraisal of existing discoveries as being the key to the future of the Company. While the strategy will always be to build up exploration value by acquiring good acreage on attractive terms and subsequently conducting sound geological and seismic operations to upgrade the acreage to drillable status, the Company will consider bringing in an industry partner at the drilling stage to reduce exposure to the costs and to the risks which exploration drilling always carries.

The Directors believe that opportunities exist in many parts of the world which have potential but where exploration, development and production has lagged behind the more fashionable areas for a variety of technical, market and political reasons. By building up a low cost acreage position and performing sound technical work to upgrade the concessions to the point where a larger company was confident enough to participate and put up the money for the drilling and development, the founders were able to add substantial value to the concessions while, at the same time, offsetting the bigger risks and financing requirements always inherently present in major seismic programmes, exploration drilling and field development.


Agincourt - 21 Oct'04 - 23:14 - 240 of 240 (premium)


TARGET AREAS OF INTEREST

PERU

The initial focus of the Company's activities will be in the region of Northern Peru. This area is well documented as being a rich oil and gas province with huge unexplored and under developed basins, and is an area that has produced over one billion barrels of oil over the past 100 years. Many hydrocarbons discoveries were made in the region many years ago but were considered uneconomic or immaterial at the time.

Presently, Peru is producing oil and gas from fields located in the northwestern region onshore and offshore, and the northern and central Selva (or jungle) regions. Total production of oil in the country in year 2002 was 35,355,774 barrels, with a daily average of 95,854 BOPD. Main production came from the northern jungle with a total production of 22,470,130 bbls averaging 61,562 BOPD. At the end of year 2001, total proven hydrocarbon reserves for the country were at 399 MMBO, and 8.7 tcfg.

At present, the country is committed to offer to national and international companies, top conditions to encourage planning and execution of Exploration Contracts and Technical Evaluation Studies in order for the country to recover reserves and improve the national hydrocarbon production.

The exploration activity performed in the Peruvian territory has generated abundant seismic gravity, magnetic, geochemical information and well data.

Three types of basins, which coincide with the three natural regions in Peru, have been identified:

The Andean Pericratonic Basins situated to the east of the Andean Cordillera.

The Intermountain Basins correspond to depressions located in the Andean Cordilleras.

The Pacific Coastal Basins and longitudinally distributed along the coastal belt and the Continental border.

PeruPetro S.A. is a state corporation created in November 1993 under the New Hydrocarbons Law operating on the same lines as a private company. Its main responsibilities are:

To promote private capital investment in the exploration and production of hydrocarbons in Peru.

To negotiate, enter into and supervise all upstream petroleum contracts and technical evaluation agreements on behalf of the government.

To act as liaison between contractors and other government agencies.

Since its creation in 1993, PeruPetro has entered into numerous hydrocarbon exploration and production contracts. Most recently, a new and more favorable royalty scheme has been established that lowers the minimum royalty to 5% (maximum 20%), and with other incentive and more favorable regulatory treatment.

Conditions for foreign investment in upstream contracts in Peru have been greatly improved. The New Hydrocarbons Law establishes, among other advantages:

Freedom to enter and repatriate funds to and from Peru. No permits required.

Absolute freedom to sell or dispose of the hydrocarbons produced.

Absolute freedom to set sale prices according to market supply and demand.

There are no state regulations.

The possibility of international arbitration.




SURINAME

The basin in Suriname has all the ingredients to make it an attractive oil and gas producing area: a world class source rock, multiple reservoirs-seal pairs and proven stratigraphic and structural traps.

The prospects for oil has been highlighted by the discovery of four oil accumulations, one of which is currently producing 12,500 barrels per day that Saatsolie (the national oil company) is operating.

The basin has been described as one of the last remaining poorly explored, but highly prospective basins with an estimate of 15 BBOE of reserves to be discovered. In the years 1963 through 1986, 22 wells were drilled offshore Suriname. In this large area of approximately 170,000 km2, 17 out of the 22 wells had hydrocarbon shows or columns.

In 1999 and 2001, regional seismic surveys were conducted in the shelf and deep water areas, as well as an extensive aeromagnetic survey. This new data, combined with modern geological concepts have allowed Staatsolie to create a much better understanding of the hydrocarbon potential in the basin.

By virtue of the Mining Decree, concession rights for petroleum activities are granted exclusively to State Enterprises. According to the Petroleum Law, State Enterprises with petroleum concession rights, are authorized to enter into petroleum agreements with other established petroleum companies. After a bidding round or if a petroleum company has indicated interest in a certain open area, petroleum agreements are negotiated with Staatsolie Maatschappij Suriname N.V. (State Oil Company Suriname), which holds several onshore and offshore concessions.

Staatsolie has its own onshore operation in the Tambaredjo oil field, with a daily production of 12,000 barrels Saramacca crude (2003). The oil reserves in this field amount to at least 140 million barrels. Exploration, evaluation and production development activities are still in progress to discover new reservoirs and to increase production.

Since its founding in 1980, Staatsolie has negotiated petroleum agreements with several oil companies. These contracts were the result of direct contract negotiations initiated by the Contractors. Staatsolie started the promotion of the hydrocarbon potential via bidding rounds in 2001.

Taken from ADVFN

247 - 22 Oct'04 - 22:22 - 361 of 373


Good Evening,

I made a call to the company today to ascertain what the implication of the recent announcement meant to them. What transpires was very interesting. It seems that the border region with Ecuador has been known to have vast amounts of oil deposits. Mining in Northern Peru had never commenced due to local problems with indigenous Indians which had prevented previous exploration. This has now been rectified with approval by the local Amazonian Indian Tribes.

The Gentleman which I spoke to also mentioned that there is another contract in the offing in Suriname which potentially could be major for the company.

I asked about the refinery project and the comment was that they were presently in the process of a feasibility study. If this looked good then there was ample capacity in Norther Peru to feed this project with the additional possibility of piping oil from Ecuador to the new plant for processing.

All in all this looks like a very interesting company with contacts in the right places. If any one of these projects actually comes to fruition then the current share price will look pitifull in terms of what it will be in the future. You can fully understand why the news item reproduced above mentioned the word HUGE.

Fully agree, been watching these for a bit and I can see a lot of mileage in this company. Just waiting for a bit of capital then I will be in, keeping a close eye on proceedings!

Bought in today, intending to hold long term. Lots of possible upside, without the risks of PET, (ie, getting killed!). Will be interesting to see how it all pans out, although expecting to see a very volatile SP in the short term until progress is made.

Good luck!

Regards

PTH

I understand that most of the equity in GOO is very tightly held, only 40mill available in general circulation. Looking at the buy to sell ratio today, (and I know this cannot be relied upon totally), there would seem to be no reason for a drop in the SP today. Always easy to believe that the MMs are short of stock, but on this occasion I really think they are. Treeshakers!!

PTH

I can understand why they would want to get their hands on as many of these as possible in the near future. A volatile SP in the sjort term is good for me as I cannot afford to get in right now, so up and down is good for me! Medium to long term potentially very valuable shares.

Looks like another new high for oil tomorrow and add to that that the inventory figures will be comming out it looks like it could be an interesting day ahead for us.

This sector is certainly very much the I want sector at present.

http://uk.biz.yahoo.com/041019/237/f4tw8.html

Taking a second look: the potential of Peru's oil and gas reserves
Off the west coast of Peru, about 1500: Spanish conquistadors sight oil slicks on the water. They're not quite sure what to do with them, eventually using them to season the wood on their ships. Fast forward to the 20th Century: satellite images confirm the presence of the oil seeps. Oil companies send drilling ships to probe the ocean bed under very deep water to locate the source. They spend millions, collect mountains of data about the geology underlying the ocean floor, but fail to find an economically viable basin to exploit.

With exploratory drilling costs running at about $25 million per hole in the ocean, and $10 million per hole in the jungle, oil companies need to find significant reserves to justify the expense. They've run up against a brick wall: all throughout the 1990s, companies used the same data and ended up drilling dry wells. No one disputes the fact that there's oil -- under the Pacific, up north and in the jungles of Peru. What's at issue is exactly where it is, how much there is of it, and how easy it is to extract, refine and transport.

Creating the incentive

In a poor country like Peru, where one in five people cannot even meet their basic survival needs, petrodollars could mean a huge shot in the arm. The Government of Peru is playing a major role in promoting these potential oilfields, and CIDA, through the Canadian Petroleum Institute, is helping create the incentive for the private sector to take the risks.

The Energy Regulatory Assistance Project's aim is to help the Government of Peru to regulate and monitor activities in its oil and gas sector. Training is being provided in regulatory issues, management practices, environmental standards and guidelines and natural gas technology as well. To get the ball rolling on the exploration side, Canadian computers, equipment and technical assistants - geologists, economists and petroleum engineers - are shedding new light on the geological information that once showed so much promise. They're also sharing the latest in Canadian exploration techniques to sweeten the incentive.

"What we're doing is re-packaging the data to attract new investments," says Calgary-based Gary Wine, Leader of the Basin Evaluation Component of the project. Gary's group is taking existing seismic and well data, loading it into sophisticated computers and using high-end software to find new patterns or new geological "stories" that will help attract exploration companies.

Getting the message out

It's a mammoth project. Sorting through the seemingly endless data on sandstone, rock, shale and other materials is a specialty. So is presenting it in a way meaningful to potential investors. "I've been in the industry for 25 years," says Mr. Wine. "I have a pretty good idea of what the oil companies are looking for."

The UNIX computer is helping sort through the maze of information. The mountains of data, some on tape, and some even in hard copy, is not only being manipulated to show new relationships; it's also being presented in new and more attractive ways. Software, including a specially designed program to generate highly sophisticated maps, is creating a variety of formats: reports, presentations, prospectuses and other publications. Mr. Wine and other experts use the material at meetings, conferences and promotional events.

Strictly speaking, the information belongs to the Government of Peru; but it is provided, often free of charge, to interested petroleum companies. That includes Canadian companies, some of whom are already participating in the project and gaining a competitive edge in the process.

It's a long walk from persistent oil seeps in the ocean to a producing and thriving oilfield. But CIDA is helping Peru prepare for just that eventuality - strengthening the technical and managerial expertise within government and industry, creating a supportive and healthy legislative environment and building a promising economic climate. The rest is up to the private sector.

"No, there's no guarantees," says Mr. Wine. "But everything in my experience tells me that there's enough oil there to take a second look."

tell me 107606, what price do you think iwill be possible to buy at?I am not sure from what i have read that there will be a lot of downward movement?If so what do you think you could buy at or is it just wishful thinking on your behalf? Am thinking of buying and now is looking the time! Would be interested in views

Bought in at 7.20p

john 50 well that makes me feel better I have done the same. thanks for comment

Hi Chaps

I should have waited, bought in a few days ago at 8.0p. Long term hold though. Willfagg, you following me about? LOL

PTH

well as long as its awinning streak, then im right behind you.lets hope its good luck....just bought CYC if you want to follow me

Sorry Willfagg, I can't get excited by CYC. I'll wait until they have more clients. I know it may be too late by then, but I prefer CFP.

Regards

PTH

Sorry willfagg away today. But today was the day, there will be a lot of toing and froing, but you'll be in profit soon. Might a be a good in and out share if you have any free deals!?

Dear pth I continue to follow , am also in CFP. may the force be with you.

pth/107606. Gents have to say CYC has performed the better of the two since buying in. Is this just a lull before the storm on GOO? Whats the next news we can expect?

I am sure that some point GOO will have its day, but there is no definte point for info as far as I know. They are doing what they need to do. As I have always said there will be a lot of movement on this one, just look at PET. And as far as waiting for news goes, look at PCI. They have been floating around 16p to 17p for ages waiting for something. I'm still waiting also for PET to do its thing, then I can put my fingers in some other pies (ASC, GOO, SPS). Did you see AEN this week? Nice rise, got out too early due to cashflow probs. Goddamn it.

gone quiet anyone heard anything.Quietness on small shares usually equals drifting....downwards. IMO

Anyone know why its drifting further down?

further downwards drift and they seem friendless. Anyone have any idea why?

looks as if share price has peaked on initial news of agreement with government. expect retreat from this price/high as analysis will take time although had info that gold oil is looking to incorporate major player to assist with this project. I think like most buyers this share is high risk but buying for the potential med/long term.

Talk of Berlin shorting !

oil sector in general having bad run over last 6 weeks, peak in price at 55 dollars pb now trading around 40 dpb, although up on year. decline could be buying opportunity looking at sterling energy- any thoughts. holding gold oil med/long term.

Nothing much seems to have been happening here recently although interestingly two very large delayed buys have gone through today. Anybody got any ideas?

Sorry wildboy but have looked in the usual places but have come up with nothing. I wonder what the protected trades are buys or sells?

what price are you in at- disappointing decline from highs but looking for progression in 05.

I purchased at 5.25p a while back & I can see its going to be a long while before I see any profit.

cheaper than me -but speculative buy expect price to be volatile until development progresses.

trying not to look at this stock- down down down

It would help if they actually said something. Not even a web site.

Perhaps a sleeping beauty might be more apt.

try www.goldoilplc.com- remain hold med/long term. have spoken to company stated development/analysis takes time so looking at spring summer for news.

they also suggested looking to get major company involved around this time but no news as yet?. thinking decline in price is due to lack of news to back up agreement but will take time- hopefully positive news will happen in 05/06.

spoke to co the case is to do with shares trading on berlin exchange, broker shorting market with hope of buying back cheap!! this is the reason they give hence no press release. anyone any more information on this berlin shorting?. or does the above sum it up? trying to make investors panic so perfect scenario for short seller leaving alone- hold med /long term if goo deliver they should hopefully get their dues!!

positives to talk about in 05?

am I the only goo holder?.

no, i've got some as well. seem an interesting prospect. let's see what happens!

Ive got some locked away.

Added some PCI too

Someone know something that we don't?

those who use advfn look at 928- this email response is from gary moore operations director- although unable (proceedures etc) to give specific info but has confirmed potential news. thinking of topping up!

My goodness, news has to be good. Moving faster than the little pig!

this is on its way up 8p by end of week on spec alone of statement!

not sure about that

what do we think of this on advfn- reg 'emails' from gary moore (goo)?.

I hope it is genuine, but the person who placed this email from Gary Moore on Advfn has not been on the Goo thread since, I hope it wasn't a fake email

has reappeared today- have a look!

New info on advfn with regards to email from G Moore, it appears that the email posted may be genuine.

action speaks louder than words- if not confirmed in the next few weeks- sp is back to where it started?. this co needs news as nothing since peru agreement. but early days for them!

lets have some news gold oil!!!!!!!!!!!!

nice rise today....lets hope it continues next week

something brewing?- news article in todays dt market summary- you can seen on advfn disc thread. possible further agreement with government. could be an interesting week next week????????????????

from today telegraph


On Aim, Gold Oil climbed 1.5p to 6.37p on talk it will be awarded an exploration site in Peru from the goverment, equating to 15 North Sea oil blocks.

Gold Oil PLC
31 January 2005


GOLD OIL PLC (the 'Company')

INTERIM ANNOUNCEMENT

CHAIRMAN'S STATEMENT




OVERVIEW

The Company satisfactorily completed its funding processes in July 2004 and is
actively seeking acquisitions.

At the date of the balance sheet the Company had net current assets of 305,000,
of which 302,000 was in cash.

FINANCIAL OVERVIEW

The expenses incurred to date relate to the placing of shares in July 2004 and
subsequent listing maintenance and administration.

For the period from incorporation on 8 April 2004 to 31 October 2004 a loss of
112,000 has been incurred by the Company, which on a weighted average equates
to a loss of 0.05p per share. No dividend is being declared. The directors will
receive no remuneration until an acquisition has been completed.

CASH FLOW AND FUNDING

As stated above, the Company effectively had 302,000 cash at 31 October 2004
for acquisitions and routine expenses.

OUTLOOK

The Board is actively pursuing further acquisitions and hope to report
favourable developments in the near future. In particular, we have been
negotiating to acquire a significant block of offshore exploration acreage and
hope to make a further announcement shortly.




Director


31 January 2005

GOLD OIL PLC

Profit and Loss Account

from 8 April 2004 to 31 October 2004



Note '000

Turnover -

Administration expenses (113)

Operating Loss (113)

Interest received 1

Loss on ordinary activities before taxation (112)

Taxation -

Loss on ordinary activities after taxation (112)

Dividends -

Deficit for the period (112)


Earnings per shares: basic and diluted 3 (0.05p.)


The Company's turnover and operating loss arise from continuing operations.

There were no recognised gains or losses other than those recognised in the
profit and loss account above.






GOLD OIL PLC

Balance Sheet as at 31 October 2004



Note '000
FIXED ASSETS
Equipment 4

CURRENT ASSETS

Debtors 7
Cash at bank and in hand 302

309
CREDITORS: amounts falling due
within one year (8)

Net current assets 305





CAPITAL AND RESERVES

Called up share capital 4 59

Share premium account 358

Profit and loss account (112)

Equity shareholders' funds 305




GOLD OIL PLC

Cash Flow Statement

for the period 8 April 2004 to 31 October 2004


Note '000

Cash outflow from operating activities 5 (112)

Return on investment and servicing of finance 1
Purchase of fixed assets (4)
Financing - Issue of shares net of expenses 417

Cash increase in the period 302




Reconciliation of movements in shareholders' funds

'000

Deficit for the period (112)

New share capital subscribed, net of expenses 417

305

Opening shareholders' funds -

Closing shareholders' funds 305







GOLD OIL PLC
NOTES TO THE INTERIM REPORT


1. Accounting Policies

These accounts have been prepared on the historical cost basis, using generally
recognised accounting principles. They have been prepared on a going concern
basis.

This interim report for the period from formation to 31 October 2004 was
approved by the Board on 31 January 2005.

2. History

The Company was formed on 8 April 2004 as Gold Oil Plc.

3. Loss per Share
Period 8 April 2004
to 31 October 2004
Pence

Earnings per ordinary shares - basic and diluted (0.05p)

The loss per ordinary share is based on the Company's loss for the period of
112,000 and a weighted average number of shares in issue of 236,750,000.

4. Called up Share Capital

On incorporation the authorised share capital of the company was 100,000,000
ordinary shares of 1p each. On 12 May 2004 the Company reduced its authorised
share capital to 10,000,000 ordinary shares of 1p each and on the same date
sub-divided its share capital into 400,000,000 ordinary shares of 0.025p each.

On 8 June 2004, 199,999,920 ordinary shares were issued at par.

Under the Placing Agreement, 35,000,000 shares of 0.025p were issued at 1p per
share on 18 June 2004.

On 28 June 2004, 1,000,000 shares of 0.025p were issued at 1p per share.

5. Reconciliation of operating loss to net cash outflow from operating
activities



Period 8 April 2004
to 31October 2004
'000

Operating loss (113)

Increase in debtors (7)

Increase in creditors 8

Net cash outflow from operating activities (112)


GOLD OIL PLC

NOTES TO THE INTERIM REPORT
6. Financial information
The financial information in this statement does not constitute statutory
accounts within the meaning of section 240 of the Companies Act 1985.

7. Accounts
Copies of the Interim Report are available for collection at the offices of the
Company, Finsgate, 5-7 Cranwood Street, London EC1V 9EE during normal office
hours for a period of one month from the date hereof.


OUTLOOK

The Board is actively pursuing further acquisitions and hope to report
favourable developments in the near future. In particular, we have been
negotiating to acquire a significant block of offshore exploration acreage and
hope to make a further announcement shortly.


How long is shortly?
wilbs

we want this 'announcement'- how good is it?. looks as though city got this on friday. like the strategy seems like acquiring as much acreage as possible- hopefully this has what we all want?.

There has been a huge amount of trades today, 10million+. Is this a good sign?

One question though, the SP hasn't changed on all the trades...why?

and another nr 10m volume- i hope we get some news from the company in the next week or two to cut all this talk/ speculation- it has been a while since we have had solid news- thinking they are trying to secure as much acreage as possible in region and then seek outside financing to help with expl/development.??? need more views from goo holders!!
i also hope 'actively' has some solid evidence soon.

Steady rise over the last few days - something brewing?

I think we can expect some news shortly which will see this rise to 10p- any views?

The rise is based on the following company statement of end Jan.

'The Board is actively pursuing further acquisitions ... In particular, we have been negotiating to acquire a significant block of offshore exploration acreage and hope to make a further announcement shortly,' the group said.

Terrific volume.....must be more to it than just the latest RNS....

Gold Oil PLC
10 February 2005



FOR IMMEDIATE RELEASE 10th February 2005


GOLD OIL ACQUIRES A SECOND EXPLORATION BLOCK
IN NORTHERN PERU

Gold Oil Plc ('Gold Oil' or the 'Company'), the London-based oil exploration
company focused on Central and South America, announces that on Wednesday 9th
February 2005, it signed a promotion agreement with PeruPetro (the State Oil
company of Peru) for a large virtually un-explored area of the Pacific, being
the immediate offshore extension of the prolific Talara Basin of northwestern
Peru, known as 'Offshore Z-34 Cuenca Talara'.

Offshore exploration Block with PeruPetro

Gold Oil has agreed with PeruPetro to evaluate this large licence which lies in
the offshore sector of the Talara Basin, northwestern Peru. The agreement covers
371,339 hectares (equivalent to 17 North Sea blocks), and in places extends from
within a few meters of the coast to almost 100kms with water depths of 150 to
3000m. The licence lies offshore of the cities of Lobitos, Cabo Blanco,
Negritos, Talara and Paita (Piura Department). A comprehensive oil
infra-structure exists onshore, servicing the Talara oil fields.

The area was selected by Gold Oil because of the demonstrable potential for the
extension offshore of two of the main field complexes that constitute the Talara
Basin. The block borders the PetroTech oil fields that have estimated reserves
of 400 million barrels. Further to the east is the oldest producing oil field in
South America which to date has produced in excess of 1,600 million barrels of
oil. The block also borders BPZ's block to the North that has recently had a
reserves report prepared by an independent petroleum engineering company showing
P3 reserves of up to 4 Tcf of natural gas.

Under the terms of the promotion agreement with PeruPetro, Gold Oil has
exclusive rights to the area for a period of fifteen (15) months. However, Gold
Oil intends to convert to an exploration licence once the rationale for the
drilling of a new exploration well can be supported. At the moment, the
contractual work obligation requires only various geological, geophysical and
engineering studies; there is no requirement to shoot new seismic or drill a
well.

The search for oil and natural gas in areas where it has a competitive and
commercial advantage continues to be the focus of Gold Oil's strategy. In this
way, it can most effectively create value for shareholders.


Extraordinary General Meeting

The Company is proposing to write to shareholders seeking their approval at an
Extraordinary General Meeting to be convened to increase the Directors'
authorisation to issue shares for cash. A further announcement will be made when
the arrangements have been concluded.

Commenting on today's announcement, Gary Moore, Operations Director of Gold Oil,
stated:

'Now that we have secured these funds we can develop the very significant
potential of the offshore Talara area and the onshore blocks in the large
Sechura basin. Our exposure in the offshore block is minimal, but with
infrastructure close by we are well positioned in the event that a well can be
justified and proves the presence of economically recoverable oil. In the event
of an offshore discovery, we would be in a position to leverage recent
technological advances in offshore turbidite exploitation.

Gold Oil's recently awarded onshore Block XI lies some 50kms to the east and we
will now be able to swiftly secure the gas reserves that will be monetised with
early cash flow.'

Enquiries:

Gary Moore Operations Director
Tel: +44 (0)1737833597
Email:
gmoore@goldoilplc.com
Mike Burchell Chairman
Tel. +44 (0) 1372361772
Email:
mikeburchell@hotmail.com
Roland Cornish Beaumont Cornish Limited
Tel: 020 7628 3396.

good at last to receive some positive news from the co and not just speculation-record day on the volume front- i think they will look to secure as much acreage as possible then look to major inst for backing. thinking of backing this company does anyone know of any features in journals ic or shares magazine etc- can't seem to find much at all?.

?

i think i am talking to myself on this thread?.- www.goldoilplc.com for those who want to know more.

better discussion on advfn site

lots of buys going through... is this institutions?

tb66- find the advfn site much better for goo info/talk- what will happen at the egm??

Gold Oil begins geophysical operations in northwestern Peru
AFX


LONDON (AFX) - Gold Oil PLC said it is beginning geophysical operations on Block XI, which covers some 303,000 hectares of the Sechura Desert of northwestern Peru, immediately adjacent to blocks with proven producing reserves.

The London-based oil exploration company said that following processing, it expects the results can be interpreted before the end of May, which will enable the company to design a seismic survey on the block.

'The commencement of the programme announced today will advance significantly the subsurface evaluatio nof the block, and hence, increase its potential value,' the company said in a statement.

Gold Oil, which focuses on the South American and Caribbean region, also said geologist Dr Martin Keeley has joined the board as Exploration Director.

oilyjim- you may find the advfn more useful as a discussion thread if you do not know about?.- there is an interesting article today on the thread about martin keeley new goo exp director.-or can view at www.martinkeeley.net

Thanks i haven't looked for a while

new goo website should be up and running this week sometime- www.goldoilplc.com

http://www.martinkeeley.net

Looks like good news!

Gold Oil PLC
02 June 2005


Gold Oil PLC
2nd June, 2005

FOR IMMEDIATE RELEASE

GOLD OIL COMPLETES FIRST PHASE OF GEOPHYSICAL OPERATIONS
ON BLOCK XI, NORTHWESTERN PERU

OPERATIONS IN NORTHERN PERU

Gold Oil Plc ('Gold Oil' or the 'Company'), the London-based oil exploration
company focused on South America and the Caribbean, announces that it has now
completed the acquisition, processing and interpretation of its aeromagnetic
survey over the entire extent of Block XI. This block covers some 303,000
hectares of the Sechura Desert of northwestern Peru, immediately adjacent to
blocks with proven producing reserves.

The survey, completed on schedule, comprised 5,200 kilometers of airborne
profiles almost exclusively over Block XI, acquired and processed by Fugro
Airborne Surveys, and interpreted by Dr Eric Sutton, a UK-based consultant of
international standing.

The results of the survey demonstrate that Block XI is located such that it
could receive sub-surface hydrocarbon charges from both the west and south.
Potential hydrocarbon traps of the type known in Viru-La Casita Gas Field in
Block XIII, immediately to the west, clearly pass north-eastwards into Block XI.
The rest of Block XIII is currently still under appraisal, but natural gas has
been found in all of the ten wells drilled to date. The gas from the Viru-La
Casita Gas Field is currently being sold to local industry and there are reports
of gas reserves of over 350 billion cubic feet.

Detailed survey findings are now being used to design the optimal seismic survey
on Block XI, for which planning is advanced.

Under the terms of the promotion agreement with Perupetro, Gold Oil has
exclusive rights over Block XI until October 2006. The completion of this first
geophysical phase has advanced significantly the subsurface evaluation of the
block, and increased its value.

Commenting on today's announcement, Mike Burchell, Chairman of Gold Oil, stated:
'The completion of this first phase of geophysical operations in northwestern
Peru marks the transition of Gold Oil into a fully fledged oil operating
company. We continue to advance the timely evaluation of the hydrocarbon
potential of Block XI.'



ENQUIRIES:

Gary Moore Managing Director; Tel: 01737 833597
Email:
gmoore@goldoilplc.com
Mike Burchell Chairman; Tel: 01372 361772
Email:
mikeburchell@hotmail.com
Roland Cornish Beaumont Cornish Limited; Tel: 020 7628 3396

NOTE TO EDITORS

The Acreage

The area of Block XI is equivalent to just less than 14 UK North Sea blocks. The
target reservoirs are mostly at shallow depths of +/-5,000 feet. Rig and
drilling costs enable wells here to be drilled typically for around US$500,000.
The block lies in a desert area, next to the city of Piura, and to the east of
an existing producing gas field. Both lie within the Sechura Basin, which is
adjacent to, and is believed to be a sub-basin of the prolific Talara Basin.

The Talara Basin to the north and west has produced over 1.6 billion barrels of
oil over a period of 100 years. Independent assessments put the reserves
remaining to be discovered at 2.2 billion barrels and 5.8 trillion cubic feet of
gas. Gold Oil also holds exclusive rights over a second area here, Block Z-34,
in the offshore sector of the Talara Basin, also immediately offset from
producing fields.




This information is provided by RNS
The company news service from the London Stock Exchange

ptholden- may find advfn thread more useful more interest there for goo. given up on this one.

lizard

read over there as well, but tend not to post.

pth

Considerable recent activity in GOO at the moment, borrowed a paste and link from another BB. Armed with this information easy to see why interest has been sparked. The Petro find (Z2B) is right next to GOO's offshore block.

pth

Updated: 09:24 PM EDT
US company makes biggest Peru oil find in 30 years
By Marco Aquino, Reuters

LIMA, Peru, June 7 (Reuters) - U.S. oil company Petro-Tech is weighing a $100 million investment after finding oil off the northern coast of Peru, in what the company said on Tuesday was the biggest crude oil discovery in Peru in the last 30 years.

"This is a well that has quality light crude and we estimate the area could have between 10 and 50 million barrels of oil," Pedro Alarcon, Petro-Tech Peruana's exploration manager, told Reuters.

Petro-Tech Peruana, a unit of the Houston-based Petro-Tech International Inc., is Peru's No. 3 oil producer and currently the country's only offshore producer.

Peru, a hydrocarbon-rich country that nonetheless imports oil, had not made new oil discoveries in decades.

The field is located off the shore of San Pedro, Piura department about 500 miles (800 km) north of Lima, in a part of the Pacific Ocean where oil had not been found during 100 years of exploration, Alarcon said.

In April, Peru pumped an average of 115,539 barrels of crude oil daily, rising from 90,000 bpd two years ago when investment was lacking. A new streamlined contract and royalty regime was introduced in 2003, renewing interest in the sector.

Petro-Tech produced in its Talara field 10,200 bpd on average, representing 9 percent of Peru's production, according to April government figures.

"The new well will immediately raise our production by 10 percent because it produces on average 1,200 barrels per day of 35-degree crude," Alarcon said.

Within a few days, the company plans to drill two wells to confirm the size of the field.

"The investment the company is contemplating to develop this is $100 million. That is to build wells, a platform and a pipeline," he said.

The company plans to have up to 30 wells in this area some 14 miles (23 km) off the coast of San Pedro, which has been explored since 2000 at a cost of $10 million.

Peru's Economy Minister, Pedro Pablo Kuczynski, described the finding as "an important oil discovery that changes the outlook for our offshore production. It makes us more self-sustainable in hydrocarbons, which is good news."

Peru's largest oil producer is Argentine-owned Pluspetrol -- which is developing the enormous Camisea natural gas field -- followed by Brazil's state energy giant Petrobras .


06/07/05 21:23 ET

Forgot to post the link to the pic!

http://mirror.perupetro.com.pe/exploracion02-e.asp

lets hope goo get lucky?.

hang in there goo holders-

hello lizard how are you -fine thanks.
talking to myself- once this company confirms what it has in its acreage i tend to think more pi will be filling this thread- in the meantime whilst we await news i will talk alone.

lizard,
Know what you mean, talking to one's self that is. Started up 2 threads,
IEC(some responce once sp moved north) and VOG.
However i have some GOO tucked away, believe in time they will florish. Not
sure if you are aware but Martin Keeley joined from EEN,a famous oil explorer
and entrepreneur, comes with his own web site.
http://www.martinkeeley.net/
Heres a post worth reading from another board,
http://www.advfn.com/cmn/fbb/threads.php3?id=7494620&from=2325
Hope this makes you feel better.
Don't know wether you have read my threads, but both are very close to
some exciting news. In fact there has been some further movement today in IEC.
cyril

looks like we are staying at placing levels until updates- i would expect one soon?.

Thread for the more intelligent.

https://www.moneyam.com/InvestorsRoom/posts.php?tid=8461#lastread

what has this got to do with gold oil-

some news soon would be good?.

something brewing????

What were the unknown deals around mid-day today,buys?
Who is Iraj Parvizi,the owner of 5% shares in GOO?
Certainly looks interesting,now.
Ethel

yes they were buys- think he is a dubai based investor- added at around 4p-4.25 we must be due some news.

Investor from Dubai,interested in Gold. He Must really know his stuff. Dubai region is filthy rich in oil. I guess hes got hold of some privileged info from friends in the oil industry who have contacts with Gold and took a gamble on this minow.

If thats the case it sounds like insider dealings to me. "Is it a crime in dubai for insider dealing", I dont know.

Either way we should know pretty soon, as any positive news reported on the rns lifting the share price even higher will point to mr Parvizi as having fishy interests.

Anyway im not complaining. another small rise will see me in big profit.

What happens October 2006 when their exclusive rights over block XI expire?
"Buy if" on British Bulls and chart looks o.k. for a rise.
Ethel

NOW LOOKS LIKE A VERY GOOD TIME TO BUY :O)

i think it would be better to buy when news is released from company if positive obviously- i am a holder but will await direct rns hopefully good and soon. not buying on the back of mm hype.

positive day today majority buyers!

who are these new investors each putting in around 1m sterling each?

don't care Lizard, the SP is rising!
:-))

i think an update must be approaching?.i think all going well as stated on their website they are looking to build this company up to sell on to a larger player.www.goldoilplc.com.

does anyone have the buy note rec broker daniel stewart i think?

volume starting to pick up as agm nears?.- what will they reveal?.

anyone going to the agm on the 7th?.

oh we could do with some news?-

what will they reveal at fridays agm?

The suspense of Friday's AGM is gripping now.

What about those buys around the 15th August last, (if you're new to this one, read back a page) something is definitely in the pipeline !!!

Sockkie

haven't a clue what will come out?- hopefully something positive as we have had no news for about 4 months.

Take a look at this !!!!!!!!!!!!!!!

Immediate release: 6 October 2005

Northern Petroleum Plc

('Northern' or 'the Company')

Sale of Subsidiary


Northern Petroleum Plc announces that it has sold its wholly owned subsidiary,
Northern Petroleum Exploration Limited (NPEL) to Gold Oil Plc for a
consideration of 300,000.

NPEL's sole asset is, after a net profit share due to a third party, a 22.5%
net interest in the Spanish Ayoluengo field currently producing on average 110
barrels of oil per day.

Derek Musgrove, Managing Director stated: 'We have taken the view that, having
regard to the low profit margin yielded by this asset, both management and
financial resources will be more beneficially utilised in developing our new
projects in the Netherlands.

We have already committed to develop two discoveries onshore Holland for which
we estimate gross expected in-place volumes to be 102 billion cubic feet (bcf)
of gas and 20 million barrels of oil. We also have an option to commit to
develop a further three discoveries. In addition we have an outstanding
application for a production licence to develop the Papekop field which will
add a further gross expected in-place volume of 30bcf gas and 37 million
barrels of oil.

We consider the Netherlands projects to be more attractive to the Company with
considerably greater potential for our shareholders.'

For further information please contact:

Derek Musgrove

Northern Petroleum Plc

Tel: 020 7743 6080

RNS sometime VERY soon I guess.

Unusual they didn't announce at the same time !

Thanks for that, very SHREWD indeed, you are WELL AHEAD of the possie!
GOO Must be saving their news for AGM?
Sockkie

It's not a huge deal but we are officially an oil producer now !

I look forward to the RNS and the AGM for all to come clear.

Gold Oil PLC
12 August 2005

FOR IMMEDIATE RELEASE 12 August 2005

GOLD OIL PLC ("Gold Oil" or the "Company")
Shareholding

The Company were informed on 11 August 2005 that at the close of business on
that day Mr Iraj Parvizi, following the purchase of 4,090,000 ordinary shares of
0.025p each ("Ordinary Shares"), is the beneficial owner of 16,590,000 Ordinary
Shares, representing a total holding of 5.1% of the Company's issued share
capital.


ABOVE IS THE CLEVER CHAPPY WHO MADE A SIZEABLE PURCHASE RECENTLY.
Any further input from anyone?

Sockinafootsie - give the FTSE a boot up the rear please!
;>)

With the NOP RNS released today, they must be waiting to tell shareholders at the AGM tomorrow. Since now an oil producing company the sp should jump upwards when this news is released. Anyone going to the meeting please post here before the markets wake up to this stock.

Did you hear that?
Just done it Stockbunny.

Well done
;>)

WELL SAID, FOLLOW THE MASTER !

THEMASTER, I know it's difficult but would you like to hazzard a guess as to what we can expect the SP to do tomorrow?
Sockkie

Good news 6p, no relevant news 4p

ANY MORE FOR GOO?

Thanks THEMASTER,

COULD WELL BE THE 6p AT LEAST don't you think?

NICE ONE THAT, WOULD BE A 33% profit?

I CORRECT MYSELF:

THAT WOULD BE A 50% PROFIT, in one day!

yes but still way off past highs- has anyone seen the recent broker note on goo with NAV of around 32p?- not good on names but think it was Brewin somebody?> forgive my stupidity UBS would have been easier to remember.

YES INDEED

AN INTERESTING HIGH OF 8.12 p IN OCTOBER OF LAST YEAR!

Yes 50% would be nice, anyone know the time of the AGM today?

sockinafootsie- regretably i bought around these levels and a few more around this mark- but still sitting on a huge loss. was tempted to buy a load more at these prices but need to know more about peru findings first.

agm 11am start

AGM IS AT 11AM I BELIEVE

We know there is some GOOD NEWS at least!

i think they need to give a good presentation into why they bought this?- it doesn't look that great but why else would they have invested in this?. hopefully they are on to something promising and what about peru?. which is the main activities of the co.

THE SUSPENSE IS OVER, IT'S LOOKING GOOD !!!

Oil producing, ties with Germany over Peru, looking good for thier oil contracts.
SP should rise when market takes in the news

hope so because it is doing f all at the moment-

hopefully it's just a matter of time before logic kicks in !

BBBBBBBBBBBBBBOOOOOORRRRRRRRRRRRRRRIIIIIIIIIIIIIINNNNNNNNNNNGGGGGGGG!!

have a little snooze there Lizard, we'll give you a shout when everyone catches on to this one!

can't see this going anywhere today- hope i'm wrong.

Although up +2.94% at present, it hit +8.5% ish this morning. Plenty of scope, and time will see this one rocket yet.

what about the peru acreage- this is the co main activites and we only have news on spain acq which is of little relevance compared?.

the anti climax is over-

Someone just brought 500,000, Monday will be better

and someone has just sold 500k

And looks like someone just bought 250,000. In fact there are over 3/4 of a million in unknown transactions. A bit of mystery to add to the equation!

interesting to see what happens next?- can we move sp north before next update whenever that will be?- good though to see progression although frustratingly slow. now 'operator' status is in place we can move forward. still have no idea what the potential is in regard to peru acreage?. but goo by the sounds of it have had interest to do a jv agreement but looks like they want to go alone. perhaps they are quietly confident without revealing too much? at this stage.

I like this, very good news on it's way just some i's & t's left but it's sorted. Don't expect 6p but should be in touching distance. But how knows about SP moves ya, all you can do is deliver the goods and hope nowadays.

better volume today we have a few broker to broker trades 2x 3m.

Noticed the two 3,000,000 'B' trades gone through as buys today, anyone like to comment as to the intent.

no idea- but must be a demand from somewhere i.e somebody has bought them!

Another 700,000+ buys on top of the 6 million+ ''unknowns'' ! Looking Good.

Again today, over 3.5 million buys, including one transaction 1.75 million, someone must know something, that's confidence!

not long now.

good strategy sold 50% of business - less exposure to europe and 'operator' status for core business in peru.

a very encouraging update from the chairman- hope goo can realise its potential in 2006.

A little worried that Martin Keeley has resigned! Anyone got any info on why this happened?

safety
Try www.martinkeeley.net is own site with contact number.

Website still states goldoil?

cyril

not that bothered about keeley resigning - due to personal reasons which i believe to be true all goo details still on his website tend to think if any bad feeling he would have cut off as soon as possible not left months after.

2006 massive year for goo-

WHAT DOES THEIR VAST ACREAGE HOLD?- gmoore reckons the acreage offers potential for 30yrs research and hopefully mass production.

word has it they are going to sign a new deal in february- fingers crossed it comes off and is a good one for goo's future potential?.

2006 a big year for them.

some big stake building going on here 7.5m+ buy order just gone through.
perhaps they know about the contract coming out in feb?.

7.5 MILLION + BUY IS NO ACCIDENT, SOMETHING IS STIRRING !!!!!! CAN'T WAIT TO FIND OUT

very encouraging rns sock. have you read?.

It is very encouraging. Hopefully I'll breakeven again soon!

WHAT TO DO NOW ???? DO WE SELL NOW OR HOLD ON .......
WOULD APPRECIATE ANY GOOD ADVICE?

long term hold for me!.
they have a 5yr strategy.

it would be nice to see some positive press at the weekend!.

From Daily Mail Market Report - Friday Close

Gold Oil was up 1.5p at 4.37p after revealing it is one step further in its quest to explore north-west Peru. It secured an operator certificate last year from Perupetro, and now hopes the government will give it the green light to drill for oil and gas in the area as early as next month. The company is 'actively sourcing equipment'.

good spot pd -i do hope goo gets something positive at the weekend in the press, it still lacks much media attention but perhpas this could sway this?.

a long way to go but a v positive step.

This should now move to the 12-15p range. They have licences but they are also a stones throw away from being classified as an operator. With any new refinery and subsequent prices of commodities you can sit back and count the pounds.

a few mentions in the sat press guardian telegraph mail express- anyone seen any others?>

a lot of buying so far- can we break 5p bid?.

Press reports started on Friday !

Great
Thanks for the advice. Glad I didnt sell Fri at +52%, up now another 28.5%. Seems like one to hold on to. And 10 millions buys so far today ... not bad for one day!

Yes excellent volume.

we were 8p without licenses gained last week.

Thats what makes it such good value !

buy and hold for me med/ long term!- any views?.

they seem very keen to pull the price down on very thin trading?Can not see the justification for the drop in the last hour from trading

short term profit takers willfagg. still think we should be trading around 8p though.

lets hope profit takers out the way now back to yesterdays close.

Noticed it hit 6.5p early this morning, looks like 8p is quite feasible, if not more

bit frustrating today sock- but i suppose to be expected after biggish rise.

Sure is Lizzard, but after 12 million+ buys yesterday it's bound to be a bit quieter today, that's alot of confidence !!!

interesting to see what happens in next few weeks?- we should see an update on offshore talara b block (300,000 hectares) soon which i think had an initial 15month arrangement due to expire soon. good relations with peruvian government all important.

good to see website updated with the news www.goldoilplc.com.

hope to see some more big volume investors over next few weeks.

should hopefully get more frequent updates now 2006- important year for goo's future?.

starting to steady a bit now lets we can push on?

Good Lizard, 5.62p again, normality being restored. Still can't figure out why more people haven't latched on to this one

i feel the samw sock- problem still and rightly so goo still pretty much an unknown minnow at this time but a minnow with potential.

i would be surprised if no mention in ic tomorrow or next few weeks. need to get their name 'out there' but i suppose if the right news evolves over time the interest will no doubt increase.

all quiet here -next news i suppose drilling or perhaps offshore block?.

first well to be drilled in april. licenses signed

Gold Oil PLC said Iraj Parvizi held 22,290,000 ordinary shares in the company
as at Jan 25 2006, representing a 9.5 pct stake.

LONDON (AFX)

Looks like more than ourselves have faith!!!

would be nice to get some momentum in sp -we have had two pieces of encouraging news resulting in sharp rallies then pull backs. 8p+ should be about right leading to drilling march april.

goo in todays IC anyone got it?.

From ADVFN



simon8 - 3 Feb'06 - 10:34 - 4059 of 4061


Just read copy (p56 if you don't want to buy like I didn't!!) They may as well not bothered - mentioned Northern Petroleum deal, that they were unable to contact directors for info, company was reticent in giving out info, been lot of fluctuation in sp, and that nobody in the City really knows what the company is actualy doing in Peru! A few small paragraphs of bland uninteresting non committal stuff.

I LIKE IT THE CITY ARE UNAWARE OF GOO'S POTENTIAL- NEWS WILL GET THEM INTERESTED!.

What news ?

WHEN IT COMES N42!.

decent write up in the sunday times today.

http://www.timesonline.co.uk/article/0,,2097-2024826_2,00.html

i would say a pretty good summary- a highly speculative prospect.
potentially very exciting -lets see what drilling brings?.www.goldoilplc.com

SEEMS TO HAVE DONE SOMETHING ON THE BACK OF THIS SUMMARY AND INTEREST.

FOR IMMEDIATE RELEASE 7 February 2006



Gold Oil Plc


Award of Engineering Contract and Issue of warrants to Contractors

Gold Oil plc ("The Company") announces the award of an engineering contract to
Conex S.A.C. for the drilling of an exploration well in Block XXI onshore the
Sechura Basin in Northern Peru.

The Company anticipates commencing drilling the first well on Block XXI in April
/May, once Ministry approval of the licence is received. The cost of drilling
this well will be met from the Company's existing cash resources.

Conex S.A.C. is a local Peruvian company whose staff has been involved in
exploration in the Talara and Sechura Basins for over 35 years. The scope of the
contract is to manage the well from prognosis to completion under supervision of
the Company. As part of the Board's policy of providing performance based
incentives Conex has been issued with 2,000,000 warrants to purchase Ordinary
Shares of 0.025p each in the Company. The warrants are open to exercise on or
before 30 January 2009 at a subscription price of 6p per share.

ENQUIRIES:

Gary Moore Managing Director; Tel: 01737833597
Email: gmoore@goldoilplc.com

Mike Burchell Chairman; Tel: 01372361772
Email: mikeburchell@hotmail.com

Roland Cornish Beaumont Cornish Limited; Tel: 020 7628 3396

slow but heading in the right direction- lets hope drilling proves positive?. we could also and should be due an update on offshore talara b block.

;

http://www.timesonline.co.uk/article/0,,2097-2024826_2,00.html
the guy who wanted the sunday times recommendation article here it is.

some decent buys going through @around 6p. the level at which conex have their warrants.

http://www.goldoilplc.com

drilling not far off now! time to buy more imo.

i am starting to feel like billy no mates on here!- i guess with time we will see a lot more interest amongst the discussion. this is a good time to buy gold oil.

Hey 'billy' it's like talking to yourself, don't worry as the sp increases more investors will post here. I'm a watcher at present.
2517

2517george- how can you watch this stock it imo is certainly worth backing. drilling april/may. get in while you can at sensible levels- who knows where it will be in the summer?. risky punt but potential is very encouraging!.

Lizard im with you on this one. Have held for over a year and topped up last Monday. Definitely a good buy. imo

lizard, i'm also in now, I have watched the buyers long enough, especially yesterday and decided to have a punt, would have been cheaper if I had got in earlier, so good luck to all.
2517

welcome aboard 2517- watching is like going to a ferrari dealership without the money.
i expect this board will become ever more popular through time.

Just bought 75k.

mactavish, hiya I've enjoyed your posts on Yoo and hope to do the same here on Goo, let's hope Goo progress quicker than Yoo.
2517

Gold Oil PLC is a newly-incorporated company that has been established in order to identify and acquire projects in the oil and gas sector, with particular emphasis on Central and Southern America, and initially focused on Peru. Such projects may be acquired through direct investment, or by acquiring all or part of an existing or newly-formed company or business.

The Company presently faces limited competition, as there are few, North American or European oil and gas companies operating in Northern Peru. This is, however, changing rapidly as more and more companies see the opportunities available.Additionally, the Company will benefit from a low-cost workforce. The Executive has spent the last twelve years working in the region, and believes that they have the contacts and local knowledge to capture and exploit economically attractive opportunities.

The Directors believe that their broad collective experience in the area of mergers and acquisitions and corporate and financial management in relation to small and medium sized businesses will assist them in the identification and evaluation of acquisition opportunities.



The Directors will identify and acquire projects which may be in the exploration phase, or at a later stage of development. Significant acquisition opportunities exist, and the Directors believe that they have the contacts, experience and expertise to exploit such opportunities. Where considered appropriate by the Directors, competent professional advice will be taken on the merits of a project.The Directors see exploration and appraisal of existing discoveries as being a key strategy in the future of the Company.

While exploration value will be built-up by acquiring good acreage on attractive terms, and subsequently conducting sound geological and seismic operations to upgrade the acreage to drillable status, the Company will consider bringing in an industry partner at the drilling stage to reduce exposure to the costs and risks of drilling.

The Directors believe that opportunities exist in many parts of the world which have potential, but where exploration, development and production have lagged behind the more fashionable areas for a variety of technical, market and political reasons. A low-cost acreage position will be assembled, and appropriate technical work conducted so as to upgrade the concessions to the point where a larger company will be confident enough to participate and put-up funds for the drilling and development. In this way, the founders will be able to add substantial value to the concessions while, at the same time, offsetting the bigger risks and financing requirements always inherently present in major seismic programmes, exploration drilling and field development.

interest has not even begun yet!

Oil Prices Rise Above $58 Per Barrel
Thursday February 16, 4:08 pm ET
Oil Prices Rise Above $58 Per Barrel After Steep Fall on Previous Day


WASHINGTON (AP) -- Oil prices climbed back above $58 a barrel Thursday, rebounding after a steep drop the previous day.
Light sweet crude for March delivery rose 81 cents to settle at $58.46 a barrel on the New York Mercantile Exchange. The contract had fallen by almost $2 a barrel on Wednesday after OPEC said energy demand was weakening and the U.S. government said its domestic supplies of petroleum were rising.





Brent crude futures rose 42 cents to $58.57 on the ICE Futures exchange in London.

Gasoline rose 2.76 cents to close at $1.4124 a gallon, while heating oil rose 1.78 cent to finish at $1.6253 a gallon. Natural gas increased 6.8 cents to settle at $7.134 per 1,000 cubic feet.

Until the rebound Thursday, crude futures had plunged by more than $4 since the start of the week, settling below $58 a barrel Wednesday for the first time in nearly two months.

"The recent falls have breached so many technical barriers, that it is hard to see where the new support level is. But we see very limited further downside for crude," said Lin Hui, senior analyst at China International Futures.

Oil market concerns about Iran, OPEC's No. 2 producer, have dissipated somewhat but have not entirely disappeared, and analysts say the mid-winter price drop could easily be followed by an early spring rally.

Barclays Capital said in a report that although the twin issues of Iran's nuclear ambitions and violence in Nigeria are temporarily off investors' minds, there is increasing pessimism that these situations will be diplomatically resolved.

In its weekly petroleum supply report, the U.S. Energy Department said crude oil inventories grew last week by 4.9 million barrels to 325.6 million barrels, or 11 percent higher than a year ago. Gasoline inventories increased by 2.2 million barrels to 225.5 million barrels, or 2 percent above year ago levels. The supply of distillate fuel, which includes diesel and heating oil, rose by 900,000 barrels to 136.9 million barrels, or 14 percent than last year.

The agency's report said gasoline demand over the past four weeks was 1.8 percent higher than a year ago, while jet fuel demand over the same period was close to 1 percent higher.

Tobin Gorey at Commonwealth Bank of Australia noted that the build in gasoline stocks has raised the safety buffer for any potential supply disruption, and believes talk of an OPEC quota cut is likely to grow.

Venezuela's oil minister said Thursday that OPEC should cut output at its next meeting. "Everyone is building inventories, Japan, the U.S., and that is very dangerous," said Oil Minister Rafael Ramirez. "There is an oversupply of one million barrels a day."

The Organization of Petroleum Exporting Countries said Wednesday that crude oil demand will grow at a slower pace this year as uncertainties remain over economic growth in the U.S. and Asia.

In its monthly market report, OPEC trimmed 2006 global oil demand to 84.64 million barrels a day and slightly lowered its demand growth forecast for the year to 1.57 million barrels a day.

mac- big post can't see anything to do with goo there?. or relevant to. we have not even drilled yet so the price of oil at this time is not that important.

George, Oily Jim and Mactavish glad to see you on board, things are on the up at last, and not forgetting good ol Lizard, plugging away there! Looks like it could all be worth while !!!!

i hope so sock- still below our highs of around 8p. i hope to see this at least in build up to drilling in april/may.

the signed agreement from ministry of energy should give us a boost!.

Just to make your day - we are now a BUY CONFIRMED on British Bulls :
http://www.britishbulls.com/StockPage.asp?CompanyTicker=GOO&MarketTicker=FINANCIALS&Typ=S

more buying come on move the bid up!

1,030,000 buys and only 37,000 sells at the moment,
ahhhhhhhhhhhh at last people are getting the idea !!!
Hopefully sp should go north soon !!!

Thanks for that Mactavish, more GOOoooood news. SP should be climbing shortly!!
Ah the excitement is whipping up now !!!!

400k buy.

It looks like you have a big seller behind the scenes the sp should have moved.

could be because they moved the bid to 6.25p yest and got hammered. mm caution.- it will have to try soon.

mrp mrp mrp

GOT THEM PH AS WELL!

2 MILLION BUYS V 90K SELLS -NO PRICE MOVE?.

http://www.goldoilplc.com

chart just starting to look encouraging a break through 10p come drilling would be possible.

http://www.timesonline.co.uk/article/0,,2097-2024826_2,00.html

Old (April 05) but nevertheless, quite interesting report re Peruvian offshore continental shelf-slope relating to Talara Basin.
http://www.systemdigital.com/peru/pdf/Offshore%20Basins%20Summary.pdf
Note : it also suggests Gold Oil evaluation period of 15 months

perhaps we will get an update on talara license soon?. interesting to see if they make further acquisitions in the nr term i would expect blocks in peru to be receding quick.- chairman seemed bullsih on this matter.

"17th Feb 06
UK smallcap opening - Ascent Resources gains on bullish broker comment

LONDON (AFX) - Shares in Ascent Resources gained 3/4 pence at 11 after a
report in the Daily Mail said broker WH Ireland has a 'strong buy'
recommendation on the stock and 20 pence price target.
WH Ireland analyst Philip Morgan said the oil and gas exploration minnow is
close to starting a drilling campaign in Europe which offers "excellent gearing
to any success with the drill bit" and is well-placed and well-financed.

newsdesk@afxnews.com
msc/vjt"


Gold Oil own the 11.25 % of the Ayoluengo oil field and Ascent own the remaining 88.75%
Regards

Nice price rise this morning.

i would say if you don't hold get in while you can. speculation on drilling come spring/summer.

bloody hell , this was 5.88 the other day !

are you in espaceman?.

Over 7p this morning, I'm so thrilled to be in on this one, one of my better decisions.

don't forget sock they have a 5yr strategy so hold for me.

No Lizard , I don't have any of these.

I'm thinking of buying more, although I have made a very handsome profit on these already, I can see that they haven't reached their potential at all yet !!!

sock they were 8p last year now in a better position in company development with drilling in sight. i'm long at six different levels. and will hold.

I have got in on these today, there has been a lot of buying over the last couple of days with not much sp movement I think this stock is ready to shift up a gear.

moneyman
If you are around can you put this in the header thanks.
http://www.goldoilplc.com/

This is due to burst at the seams yet!

an update of decent news which should be expected soon- would push the sp.

Nice tick up.

From another board a reply from an email from GOO

Reply from Gary Moore re my email requesting clarification of the term of the Evaluation agreement on the offshore Talara block -


"Thank you for your e-mail and pointing out the error. The licence expires in May 2006, but has been extended to June 2006 as Perupetro was somewhat slow in getting us the information we required to start the work. We are currently talking to potential farminees about the blocks, but unless we become overloaded elsewhere we may just retain the licence 100% ourselves.
Regards
Gary"

And another.

'sorry for the delay in responding, but I have been busy. Z34 is a promotion agreement that expires in May 2006 (extended to June 2006). We are talking to other players about farming it out, but we are reluctant as it is attractive. Our priority is an exploration well on Block XXI'.

Regards
Gary

Its looking good things are progressing well.

i'm in. had two to invest in just hoped i bagged the right one. [fao was the other one]

robertalexander
FAO is down 6.8% that should cheer you up.

roberta- alexander i looked at fao yest looks like they have potential but a lot of baggage on the way- seems like big placing necessary. i like goo new company with encouraging potential.

about time- this should progress nicley when peru ministry of energy gives goo the go ahead soon.

bought a few goo at 7p had these before for a small profit,but they were just out then sounds like its more than just talk now.

cellby
Welcome aboard it must have been your purchase ticking up nicely now.

GOOoood up 11.54% as we speak !

8p high should break it on positive news- which i suppose could come at anytime!.

i hear it'll go to double figures from about 3pm

fernandes, are you talking this one up by chance. or do you know something we don't? either way more money for me!

Hope you're right Fernandez !

1.75 million buy.

some big trades 1.75m buy 400k buy. think the reason for initial price drop.

3pm and double figures were a bit optimistic - shouldn't be long though

5.3 million buys v 1.4 million sells, price should take off soon!

Another nice price rise this morning.

confirmation of approval from peru ministry of energy will imo put more life into this. we were at 8p last year and now closer to drilling.

I see that trades hit a high of 7.75p earlier and 7.5p at the moment, and about 5.6million bought yesterday, yes it's looking good!

i wonder what the chairman has in mind in regard to further acquisitions mentioned in last statement?>

lizard
I think moneyman has gone from this thread, I am doing the ert and mdy thread so do you or some one else fancy doing a new thread for Goo we need the chart and the Web link for GOO and a more up to date header that can be taken from their Web Site, or you could you this or a bit of both.

"This is the extract from the recent Times article: "
I have bought shares in a tiny oil and gas exploration business, Gold Oil, which has two big exploration areas onshore and off the northwest coast of Peru.
Gold Oil is valued in the market at about 15m. That is so small that almost any good news must have a big impact on the share price.
What are the chances of that happening? Run by a former Burmah Oil director, Mike Burchell, Gold Oil will drill the first in a series of wells in the Sechura Basin in April. There will be surprise if it does not find gas, as another company, Olympic, has done just that in a similar formation nearby.
The secondary target, later in the year, will be oil, I gather. A couple of months ago, Petro Tech made a big oil find offshore in the Sechura Basin. The theory is the oil may have migrated up into Gold Oils block. Dont ask me to explain the geology because I dont speak Palaeozoic. But a decent oil find here would be a company-maker.
Oil has enough cash to fund this years drilling programme. And it already has a deal in place to sell its gas to Mann Ferrostaal, a German company that is building an ammonia plant nearby. Getting all that for 15m seemed a bargain to me. But Gold Oil still has to find its gas.

driver- all yours to develop. i think you are right. have seen the sunday times article few weeks back but certainly need more info on this site for new investors if want to look at.

lizard
As I said above.
I am doing the ert and mdy thread so do you or some one else fancy doing a new thread for Goo