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

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

Jb
My workings was that you kept the cash you have over as cash if you reinvested it and it done well this would reduce the 20.5 to a smaller amount.
Not ramping but have a look at SER and GTL between the three Im sure you will recoup your investment quicker that you thought.

Prob with SER is that its cap is so tiny ..... GTL I like, but is prob long(er) term

maybe- but he put 4m in Goo. a minnow on the UK Aim. he is based in Dubai. you would have to have some wealth if 4m is a small investment. nobody mentioning mark pritchard who has a larger holding of 42.75m shares.

maybe so, but my Q still has validity do you not think?

From todays F.Times

SMALL-CAPS: MONSTERMOB RINGS UPWARDS ON CHINA MOBILE NEWS
By Peter Garnham and Neil Hume

Published: September 7 2006 03:00 | Last updated: September 7 2006 03:00




*Gold Oil rose 2.4 per cent to 10.62p on news entrepreneur Iraj Parvizi had raised his stake in the energy explorer to 9.4 per cent with the purchase of 7.1m shares at 10.1p.

Geoff Foster, Daily Mail
7 September 2006


Sold down to 9p from 15p on Monday by neurotic investors who baled out on a mildly disappointing drilling report on its San Alberto prospect in Peru, Gold Oil rallied p to 10⅝.
Entrepreneur and 6.63% shareholder Iraj Parvizi happily took advantage of the overreaction and bought a further 7.15m shares at 10p.

for my sins (greed!), i have allowed myself to buy back in ..... still have headroom for more, but not convinced i made the right decision ..... greed overruling sense!

cynic
Welcome back to the fold, I'm not going to say I said you would come back oop's I just said it.

i knew i would too, but not impressed with my timing!

btw, have just noticed that VOG have just tiptoed over the heavy resistance of 98 .... big Q is whether or not that can be held

just bought 125,000 goo at 11.35p new back to my original holding of 250,000. I have sold 20,000 vog at .99p per share. does anyone know why vog is on the way up again.

Janet hi, vog has been creeping back up even though more sells than buys for last few days, as cynic has stated it needs to break out above 98p trading range and stay there for a few days, hope you have done the correct thing darling.Ime not so sure.

VOG have (had) a strong resistance at 98 which has been threatened for some time. With luck that has now been breached and will hold. Reason is that (I am 99% certain) that a drilling update is imnminent

i am still holding 47,500 shares which I bought in may this year. the 20000 shares I have sold today I bought in august and july this year at 93p and 92,75p two lots of 10,000 shares. I have twice since had the opportunity to sell them at around the figures I have sold at today and did not. only to regret it as they fell back down to the 90p figure. I am happy with the profit. they probably will go up now I have sold them. good luck to you. we all need a bit of this pisces thankyou for your comment.

look like you was right and they have gone up quite a bit since I sold.

Janet, making a profit is why we are all doing this, well done girl, if they hold above 1.00 for next few days will buy a truck load myself. Sorry if off topic on this thread.

recently when they have gone up on the past few occasions they have gone back down that the end of the day. Lets wait and see if this happens today. I would like to know why they went up if any one knows.

as already stated ..... drilling update(s) almost cerytainly imminent; strong resistance at 98 at last breached ..... volume not unusually heavy