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

cynic- this formation in trading terminology is a support sign. but in aim stocks, charts are not always worth studying whereas news flow is key.

very slow but i would want nbm production to be in flow by weekend. its not the scale of this project its the potential of ecopetrol approval and 'a foot in the door' to further openings in colombia. that gets me going.

Still in there with my 250,000 goo. these shares are standing me at .11p average price per share. just noticed today they are down again three quarters of a penny. I am not quite sure that i like the look of this at the moment. All i can say is that I hope this time there iss some very good news coming to make up for my previous losses. Last time when the news came out they dropped from 14.5p down to - well i panicked and sold my entire holding at .85p lost all my profits and made an 8k loss. to break even on this one they would need to go back up to .17p. I know this is a long term investment at the moment. Lets all hope the news is excellent. I believe that we all need it. take care all.

JB ... that's a lot of capital tied up in a minnow E&P company with as yet no proper assets ..... I have a modest holding on the basis that perhaps 3 of 10 come good .... most holes drilled come up dry

Yes indeed, Janet. In hindsight, I should've listened to Fliper and waited for the sp to drop below 10p. Very nearly bought at 13p previously so could've been a lot worse! Fundamentals appear to be genuine with more than one revenue stream lined up. So not overly concerned, just yet.

Driver & Lizard, Is it today or tomorrow when you are expecting further news?

I'll be watching The Ryder Cup tomorrow so no chance of keeping an eye out for an RNS!

nor i as shall be on a cookery course at Le Manoir ...... been really looking forward to it, failing to register that Ryder Cup was on when i booked it several months back

markus- this week!. but beyond my control. just what i was told.

All reds yesterday to blues today two good RNS today other companies and yet still waiting for a stupid "few days" piston.

laurie
Dont worry I have sent them a tin WD40 that should solve the problem.

Laurie did you send it in first class post? ;-))))

looking at the chart, we can see a head and shoulders patterns, indicating that the sp may head back to 6p if good news did not come at this point. this is only in technical view. At this stage, it becomes very interesting as we are already observing it, many are leaving the party. However, the technical analysts do get it wrong sometimes or get it right for a while only. Now three things are clear:

-After the waiting time if the news is not very encouraging at this point the sp will return to 6p. In this case it would be crazy not to buy more and more.
- if the news is nice the sp will head back to 14p with strong support
- if the news is excellent one can admire the sp flying to high places of 25p

I repeat GOO is top banana company and i remain invested wheter the sp falls at this point or not. Things do change, so one should not take this too seriously. All in my view. there is more juice in this juicy litlle fish and longterm to medium term investors will be rewarded. Best luck

just looked at the last trade 500k sold at 9.05p. All sells today and yet mm wont budge. mmm wonder what tomorrow brings.

one thing to be thankful for, it has not dropped any lower today. Do you think people are getting fed up with waiting for the next news. Its like i have said before, the longer we wait for the news - could be a bad sign, because if they had some good news to tell us, they would tell us. I really do hope that i am wrong. This has now happened with vog and the last goo news. sorry if this is depressing. There does seem to be a lot of people selling and not many people buying. Anyway I am in for the long term. What do the rest of you think out there. Lets hear your views on this.

Yes you are right , no news brings the sellers out . Buyers waiting for the rns , they dont mind buying at 11 or more when the price is going up .

At the moment nobody are willing to pay full price of goo shares, which is obvious sign of lack of confidence in the company, considering how much it dropped after last rns news.
What annoys me most is GOO website looking at the updates status on each project, they are not very well laid out particularly about the colombia business, they could have at least said they have governments approval, to ease everyones mind IF they had the approval , which I am 90% sure they have, otherwise they wouldn't have start the pump and found piston was damaged. Prior to this news they did say everything was ready just needed government approval.

Oracles have you had any further information? I said to Michael Burchell by e. mail at the time that the statement was poorly worded and does not clarify the agreement for production having been given.
Given the luke warm response to Angus & Ross and Black Rock Oil today even with good news I admit I am concerned now.

LS - If you are concerned, then how do you think Mr. Pavisi thinks with his 3.8 million shares? I'm sure he makes mistakes, as does everyone else who gambles on speculative investments, but I don't think he has started selling yet, so no cause for alarm.
We don't know if the pump has been fixed yet in Colombia. They said start up delayed by several days, but imo that is probably inaccurate & optomistic.
San Alberto we have heard nothing since the 22nd Aug. Neither good nor bad.
I think the only way to cover this is to set a trailing stop loss, but not to panic sell.

Just this from other chat room (Daily Mail)

received a e-mail from John Gary Moore, Managing Director.
he states that a press release and web page update are imminent. though he would not go into any details as to what the release was about.
In my opinion, news is due on columbia and peru. this could be the news that will see the share price reach 14p or over again. alternatively it could be telling us that the well in Peru, San Alberto-1x is a duster. with all of the positive vibes that they were putting out prior to 15 september, it leaves me to think good news is coming. could be a good time to get back in sub 10p. but please DYOR

take a look at ser news out.

It follows red two days ago; blue yesterday so today is green.