GOLD OIL, the London-based oil exploration company focused on the South American and Caribbean region, announces that in late December 2005, the Company received an Operator Certificate from PeruPetro that allows the Company to carry out seismic, drilling and development operations in Northwest Peru.
The Promotion Licence signed with PeruPetro on October 15, 2004 with PeruPetro for Block XI (now renamed Block XXI) onshore Sechura Basin has been converted to an Exploration and Production Licence. The Licence now goes to the Ministry of Energy and Mines for approval, which could be forthcoming anytime between February and May of this year 2006.
The terms of the E&P Licence commit the Company to either shoot 120 km of 2D seismic or drill a well in the first period of five over a seven year term. The remaining four periods require the Company to either drill a well or drop the acreage. The Licence is for a term of 30 years for oil and 40 years for gas, with a minimum royalty of 5% on wellhead production for the first 5000bopd (30 MMscfd for gas) rising to 20% if and when production reaches 100,000 bopd (600 MMscfd for gas).

Times Article:
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 Oil�s block. Don�t ask me to explain the geology because I don�t speak Palaeozoic. But a decent oil find here would be a company-maker.
Gold Oil has enough cash to fund this year�s 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.

GOLD OIL http://www.goldoilplc.com/index.html

Plectrum Web Site
http://www.plectrum.co.uk/splash_content.html

Wall Street Reporter Interview
http://www.wallstreetreporter.com/interview.php?id=17724&player=real
Growth Equities & Company Research Nov 2007
http://www.goldoilplc.com/docum/gecr_09Nov07_GoldOil_full.pdf
Gold Oil's Presentation On The 10/12/2007
http://www.proactiveinvestors.co.uk/pdf
Research Page Last updated Oct 23 2008
http://www.moneyam.com/InvestorsRoom/posts.php?tid=10572#lastread
6 AUG 2009 Operational and Reserves & Resources Update Colombia & Peru
http://moneyam.uk-wire.com/cgi-bin/articles/20090806084900H3062.html

Janet,
Yes 10:56 250,000 @ 8.5p.

The trade tracker will really help me though so thanks for that.

An investor buys a cow for milk and calves. A trader buys a cow to slaughter.
being a trader and an investor should be ideal.

Watch the prices today there are a lot of mistakes, five of my shares are moving two without any deals. Also some news items are on the wrong stocks.

what is a trade tracker? Please

The TRADES tool you suggested

Has GOO got something else in the sleeve, the price has recovered a bit from this morning?? mmm this is getting interesting....watch this space

i have just bought back in 125,000 at 10.5 pence more than I wanted to pay but, since the big buy at 7 mill I cannot see it dropping today now. there are a lot more people buying now. So I start again from now. If it does drop down to around .8p over the next few days then I will top up. back on board again.

jb- perhaps you should have a longer term view?.

I think you are correct lizard. I will not act so hastily if the same thing happens again. once bitten twice shy. good luck everyone. and thanks to laurie for checking my trades out, I missed them.

back in on the party,now waiting on the good news, good luck.

Is this just a bounce on the day.
Many of you suggested a 8p - 9p offer price in the near future! I think you may be right.
Do you still reckon that's correct?

no one can be sure of anything, I do what I think is right at the time. I would have said yes, until someone bout 7 million goo this morning. if he sells them all in one go then they will drop again just a quick. like a sack of spuds.

jb----welcome back aboard, I'm sure that in due course you will recover your losses with GOO, I was on a massive loss with AHT a few years ago, watched them go from 130p to just over 2p, now look at them.
2517

LIZARD .... why should i not post? .... just because I took a profit does not mean that i do not continue to follow the stock

Today, and the following days, could be a bit of the aftermath-dead-cat-bounce scenario so possibly a bit further to retreat until something positive is announced?

Janet, "been there, done it, bought the t-shirt...!" with Stanelco this year. Bad times make you stronger and wiser - and make you appreciate the good times when they happen. Wish you well, lady!

there is an old adage, which i confess i am bad at following ..... when sp falls (say) 20% from its peak or from your buy-price, then cut the loss ...... we all remember the shares that recovered that we had sold in panic, but conveniently forget the ones which just went down and down and down and we continued to hold

1.8m broker to broker.

jb
Yes welcome back like I said in an earlier post this is just the beginning of the birth of a good exploration company that keeps its investors well informed, just sit back and relax let the sp do what it wants to do there is plenty of more news in the pipe line over the months to come.

That 7m buy this morning defiantly turned the sp today looks like blue tomorrow.

should remember that XXI has a 30yr license for e and p and people panicked into selling after about two months of operations. showing hydrocarbons at an early stage. nothings a cert but an encouraging start. drilling is much cheaper in samerica and goo have about 4m in the bank to fund more drilling. so possible they may drill further west and/or possibly as north as possible. gas/oil finds to the west.

looking to convert offshore Z34 license into 30yr e and p. early days and nr 2m acres is a lot of ground/geology to analyse.