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

Lizard where have you got that confirmation? I have looked at their own website its same as before regarding faulty piston.

Lizard where have you got that confirmation? I have looked at their own website its same as before regarding faulty piston.

R88AVE- not on website. i take it that ecopetrol have granted approval and once this piston is upgraded they can start production.

i expect once this happens we will get an rns on nancy and situation on xxi. i spoke to burchell and he is flying out when testing starts.

From ADVFN:

OracleUK Says
"I would expect an update either today or tomorrow based on the update from the 15th on the website. Ministry have granted approval, production is ready to start all thats keeping them from getting the oil out of the ground is a broken piston which from Fridays update would be sorted within several days, anyone selling now would be silly."

Lizard just hope Burchell doesn't visit US on the way! ;-))))

why?

sounds like r88ave has got mixed up with the gaming sector

For those people in a buying mood, offer sp just dipped under 10p.

done 50k myself at 10p. a few more for the holding.

Buys out weighing sells now yet no tick up.

on L2 only one on the offer so this could change soon. 5 on the bid wanting to buy.

Looks like Fliper's 10p re-entry target was right, in the end. We should've waited, after all!

Just my wierd sense of humour thats all!

No logic in money men repricing they know where they want the price!
It was down now level and yet no trading.
Good news for us though!

Due for a fall wednesday , big sell at end of play . mm testing the market . lots of buyers at 9p waiting .

Strange day. Lots of stocks down. Over 2m shares traded on GOO, but sp ended up pretty much where it started.
I am surprised Mr. Parvisi hasn't snapped up a few more when the price was under 10p.
If news is expected on wednesday, can we really expect a fall???

Mr P may consider he has enough

Or he may think the price will drop further, or he may be a bit strapped for cash at the moment!
Second guessing doesn't have much future. I bought at 9.91 this morning, so hopefully good news is on the horizon.

I think there are alot shorters out there who have held these long enough to make alot profit are selling to make the shares drop so they can get on boat at cheap before the next round of high ride. The MM appears to be very reluctant to drop price which must be a good sign!

There's a lot of red today could do with some good news!