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

Naturally, we all have different strategies, but I did say "falling crude prices" (lizard), not low prices.
My experience in trading expl stocks, which is also limited to the last few years, has taught me to keep taking profit, having been burnt by ELP a while back.
I wish the long term investors luck - imo you are gonna need it!

more news just come out on goo

dont disagree with that. some succeed some dont lets hope goo do!.

another rns out! points to the fact goo are seeking more low risk opportunities, this is what i like about goo its early days but they will have short term cash on nancy and a slowly expanding production rate on the low risk producing front combined with high risk mass acreage that could make the company.

Gold Oil says looking for low risk projects in S America, posts widended FY loss
AFX


LONDON (AFX) - Gold Oil PLC, said it plans to look for low risk projects with the potential for early cash flow in South America as well as consolidate and continue its current activity in Peru and Colombia.

The company, which spudded its first well on the onshore Block XXII in Peru in July, posted a pretax loss for the year to June of 557,000 stg compared to 374,000 a year earlier. It had a cash balance of 2.46 mln stg at the end of the year.

sounds as if Z34 going negotiations going well as mentioned in results. planning underway for 2007 i expect.

I guess we all disappointed this evening then!!

till the last two weeks i have been very impressed by the performance of this management but recent performance has been out of line. i believe communication between investors and the board should be straight foward without restrictions. and this time, this has not been the case. i will therefore set a stop loss at 8p till we know more. Having said that, i do not underestimate what GOO can do. Best luck.

confidence in goo seem to now be deteriorating, the price is falling every day. I maybe set a stop loss on this one today with my broker. The present news has not been wonderful, has it really. Unless goo can come up with some better news. The price may start to fall furthur. Most oil shares not doing very well at the moment. I came up trumps with hardman two days ago, but other than that the other oil shares I hold are well down. We will have to see what today brings. Good luck everyone.

a point made on the other thread. now results are out the closed period under lse rules now allows director shareholding activity. may tell us something if anything happens?.

Has everyone sold?
Am I all alone?

Course not, I've just had nothing to post. Nothings changed for me, sp prices fluctuate all the time for no reason, yes we've had a good run recently and its now fall back time.

I'm still in albeit at a loss at the moment. I will certainly hang as I recently made +20% profit in a a very short term. No point in chrystalising a paper loss at the moment. Future still looks good imo

Nope, am still hanging in there.
When Mr Parvisi starts to unload his stack, then I will be happy to join the lemmings.
Just a bit gutted I missed OEX & FEP. Took my eye off the ball!

laurie squash
All still here no need to panic laurie.

I am still in with my 250,000 i will sit it out a bit longer.

im still in.

ls- do me a favour!.; are you a day trader or an investor?.

Well I was still in wherever you were. Just with shorter nails.

Just in by e. mail - We have a press release doing the rounds, but are having problems getting written proof of what we are saying is correct. (Need lots of proof for everything these days as the Nomad is afraid of making a mistake a la Regal).Nancy having mechanical problems with the surface pumps. Release waiting for that.

TAKEN FROM WEBSITE............September 15, 2006
Production carried at over 600 bpd.