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

rns out! one in one out and parvizi buys nr 8m more.

Am I right in saying that the big 7m buy today was Mr. I. Parvisi again?
He seems to want more & more of this one.
Now holds 38m shares.

Hmm! something to dwell on overnight ... perhaps I'll get back in albeit at a slightly higher price than that at which i got out ..... tricky decision for though there may well be quite a lot of action, it could be short-lived if Mr P has stopped soaking up any spare stock

all is forgiven come back to the party, and lets rock en roll.

Lizard
thanks for the post

I wonder what Mr. P. knows that we don't?
As a major shareholder, presumably he gets updates direct from the company rather than via news feeds.

It may be that as a shareholder of this magnitude he gets certain extra info, but i would be very surprised indeed if he received anything too price-sensitive ..... such laxity would be too stupid for words as so easily traceable

janetbennison
When GOO gets to 20.5p you would have broken even. Sorry but I like working out figures.

HARRYCAT- if i were able to buy that much stock i would certainly be in touch with management to get the most information possible.

driver .... one cannot keep harking back to what might have been .... losses/gains have been and gone ... whether price needs to go to 20.5 or even 50 for JB to "break even" in your jargon is totally irrelvant, as it should be in hers.

Bit harsh driver!

Lizard - Most of us are only prepared to have a 'moderate' stake in GOO & most of us try & take profit to hedge against the down days.
How come Mr. P. knows to ignore short term fluctuations and invest huge sums of money, without having information (albeit legally passed on) which supports his strategy?
I check 'oilbarrel.com' & others for news, but to no avail.

cynic
Don't agree you need to work out you losses/gains so you know where you are if you keep loosing then it may be time to give up in jb's case I'm sure she will be in profit by the year end. I don't know about yourself pulling out of GOO?

HARRYCAT
Not being harsh we could see 20.5 in a couple of weeks.

investment profits and losses are an overall picture and should not be confined to a single misjudgement or coup..... FYI, I made a 25% profit when I sold GOO this morning, but that is not or should not really be relevant as to when/if I reinvest

wanterd goo spys, please post all you know, with thanks from all in goo.

Well done cynic, if you can snatch a few 25%'s in a year you'd probally not be posting on a free bb with us lot!

quite right .... but certainly took a pasting a couple of months back because i could not persuade myself to take my own advice

I think the todays announcement will bring confidence back into the company after a 'silly' drop over the last few day and hopefully start crawling back up to the figures at the beginning of the week. What a rollercoaster so far!

driver thankyou for working my figure of 20.5p to break even. I had not actually worked that out myself yet, but good to know. I have got used to the idea of the loss now. I have had a few days for it to settle in. I is not the first time and I am sure it will not be the last. driver is corect to say the losses have now been done, they are now in the past. As Markusantonius has said in his post bad times make you strong and wiser, and make you apreciate good times. this I totally agree with. This Parvisi chappie really love goo he has topped up at nr 8 million. Lizard what do you make of this? My big sell of the other day was a panick decision. I did not intend to sell at 8.5p. When I phoned the broker I intended to sell at 11.4p which I would have broken even at on average, but unfortunatly by the time the broker told me the best price it had dropped to rock bottom price of the day at 8.5pence. my bad luck. Should not have sold but did. Now must forget that one and carry on positively. I have bought my laptop computer and today I hopefully will be on T1 connection from the carphone warehouse. This will free me from sitting at home in front of the computer. I will be able to go out and do more work now as well. have a good day to all.

while Mr P may have 9.5% of GOO, does anyone know how substantial a portion of his decalarable portfolio that is? i.e. does he have significant stakes in other companies too?

while 4m is a lot of money (GOO), if his investment wealth is say 100m, then it is not that significant