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 just knew someone would respond with that comment !!! - I knew I should have put in a caveat

Who gives a **$$ anyway? Let's get back to talking about GOO on the verge of rocketing above 16p.....................!

Or we could double it, Goa style! - and make it 91p instead? :o)

would only be 91 if in Goa - but I would settle for that

Baza
Welcome back, are you on these and hows your property developing going?

A technical tick-up back to 10.5p mid just before close - the only spec of les bleu on my screen tonight! :o(

Hi there Driver - only back for the day - doing all those admin type jobs that creep up on you and suddenly engulf you, paying bills, VAT returns and the like.

Property development is going really well - I have been amazed at what we have acheived, turning a shappy maisonnette into 2 very nice (even if I say so myself) flats. The good news is that the estate agenst have valued the properties way above own own estimate - and we have had 6 people round to view since we put them on the market on Wednesday - so who knows - maybe I shall stick to property development.

Only have a 200,000 in GOO, most of my dosh is tied up in Chaco - and for my sins I still have a heavy holding in SEO - which I think I have pretty well written off for the time being. Next couple of months will be interesting. Still on the positive side. the CGT losses on SEO will help offset the CGT gains on the flats.

Doubt whether your CGT losses on Stanelco will come close to matching mine on that pile of ****p, Barry! But yes, we can recoup 40% back indirectly, I suppose. Anyway I am sure you know this but, just in case: you can offset retrospectively up to 4 years, 10 months against any gain as long as you haven't "used" this capital loss in the interim. You must use losses chronologically once you exceed your CGT allowance in subsequent tax years. Apologies to everyone else for going "off-Topic" here.

no all relevant markusa- lets hope we have the cgt dilemma on goo. could be worth holding goo (or other prospects) for 2yr+ as get relief on aim stocks after this duration.

still holding SEO?????? ..... you're nuts!

Lots buys this morning, positive news trickling through maybe? We are expected an update this week.arent we?

yes syd443s- Nancy production,XXI update, Z34 license from perupetro. any of them.

Not in GOO for the long term, Lizard. But, yes, you are right in as much that a 2-year AIM holding is taxable at only 10% on the nett gain. In the short term, hopefully I got my timing right this time as I think the recent tank down after last RNS should have wiped out any "already factored in" hype element? In other words, any positive updates from this point onwards should reflect correspondingly in a positive affect on the share price (IMO).

Nice little tick up on the bid, I see. That's what we need: gradual sustainable growth, not a sudden leap for the stars only to crash straight back down again. 1% - 2% on a daily basis will do me fine! But this is the boring bit now: just waiting for newsflow.....?

Presumably we are also expecting that there will be a fair amount of profit taking when the sp blips up & a nice little bounce?

news from goo or ser who will have the good news first?good luck.

Not much point in speculating on the absence of news so far, but is it possible that issuing a press release over the weekend would reduce any unwanted impact on the sp?

i am sure GOO will issue an RNS as and when they have something to report and not just to keep twopennyhalfpenny investors like us happy!

GOO usually keeps its promises, maybe today or monday. investors are easy with goo because they know what Goo can do. not easy to wait for news though. Fingers X and best luck

was not aware that GOO had promised any imminent RNS ..... but then i'm pretty dozy at the best of times