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

ah, just what I expected no rns as yet. However a little disappointed that the price has dropped a bit today. yes them mm are too nice, they must have been bunged to get the price down for the big fish to get in at cheap!
Lets hope next week we see some excitement.

read the results report;

more to come in 06 as talked about in document.

Z34 30yr e and p license offshore Peru. seeking approval advanced negotiations.
Brazil R8 exploration acreage bidding with Brazil partner Proen' Engineering.
Proposed additional one or two farm-in deals in Colombia.
NBM oil fields development.
XXI analysis
seeking further high potential blocks in Peru
Spain further exploration/ seismic.

looks interesting could be some additions to portfolio by end of 2006.

Gold Oil plc ("Gold") update on the testing of their Peruvian exploration well

San Alberto-1X and Colombian Operations.

San Alberto-1X was selected following extensive regional geological and
geophysical studies that tied in Block XXI to other Palaeozoic and Tertiary
wells and fields. The well was spudded on 11th July 2006 and reached total depth
of 5, 113 feet on the 3rd August 2006, meeting the geological objectives in the
drilling programme.


The objectives of the well were the Tertiary Verdun sands that produce gas in
Olympic's Las Casita gas field 20 kms to the west of San Alberto-1 and the
fractured Palaeozoic quartzites that produce oil in PetroTech's offshore San
Pedro field 50 kms to the west. Logging, drilling results and regional
information showed 250 gross feet of hydrocarbon bearing sands in the Palaeozoic
and 315 gross feet of hydrocarbon bearing sands in the Verdun. The decision was
taken to production test these hydrocarbon bearing sands in both the Verdun and
the Palaeozoic.


After circulating to completion fluid and running a slotted-liner over the
Palaeozoic the drilling rig was moved off location. After clearing the location
a work-over hoist and test facilities moved on to the location on 22nd August
and produced formation water at 960 barrels per day from the base of the
Palaeozoic, below the hydrocarbon bearing interval. A heavier rig will move back
onto location in mid to late October to pull the slotted liner and run and
cement a new liner over the Palaeozoic which will isolate the water and allow
the hydrocarbon bearing intervals to be perforated and tested.


In Colombia approval was finally obtained from the Ministry to start production
but after only a few hours pumping out workover fluid from the well the
hydraulic power pump that drives the downhole jet pump suffered a mechanical
failure. A replacement pump was installed by the vendor and the well began
production, and then the surface pump failed again and was replaced by the
vendor. In the meantime the well flowed at rates of between 467 and 738 bbls per
day for a period of 12 hours before the surface pump failed again. The initial
flow contained 60% oil, 30% completion fluid from cleaning up the well and 10%
emulsion.


The surface pump was replaced again and production recommenced. As of Friday the
well was producing between 830 and 683 bbls per day of 26.8o API gravity oil and
24% completion fluid. First deliveries from the storage tank are planned to be
made over the weekend and the well is expected to stabilise once the last of the
completion fluid is produced.


The Company has also submitted an application to the Hydrocarbon Authority (ANH)
for an exploration Licence for an area in north eastern Colombia that we
identified some months ago.


The technical information contained in this announcement has been reviewed and
approved by Mike Burchell, B.Sc., 66, member of the SPE and with over 44 years
experience in the oil and gas business.

rns- v positive.

Nancy flow between 683 and 830bpd as of friday.

another license in Colombia applied for.

XXI in progress for next stage.

GOO are now a producer in South America.

can these people not read?.

Do not underestimate how far GOO can GOOOOOO. IT MAY PUT A LOT ZEROS BEHIND YOUR INVESTMENT. i don't want to be too excited. Future looks seriously bright. Which other proof one may need? fish can fly

Yep looking good as you say lizard GOO are now a producer in South America, agood future ahead for them and us..

more than happy with that rns. XXI as expected, Nancy more than expected and a possible further acquisition not expected.

Very good rns today. I am glad the shares did not shot up like you would expect. I am expecting from now on the shares will start to climb gradually over the coming weeks and months at steady rate.
I remember when I had SEY before when the production annoucement in Chig had commenced however the shares remain static for a few weeks and then it started to climb from 24p to 35p at a steady rate daily. I can now see GOO doing the same.

like nothing has happened;

GOO now a producer in South America (above expected bpd) under Ecopetrol approval.

applied for another Colombian asset.

XXI to stage next development this month.

R88
Spot on. Yes it will start to climb gradually over the coming weeks as more and more people come on board and remain on board till one by one all projects deliver their goods. No questions about it GOO can do it. However I prefer the word soar. Do you like soaring little fishes?

Gerogetrio

I do like the word 'soar' but I dont like them dropping like flies by shorters!
Thats why it will soar over a period of time, I reckon it will hit 25-30p by xmas (IMO) providing the rns continues to deliver the goods.

R88
shorters are trading on a dangerous field here, with Goo it is better to use put options. i think if san alberto comes good the sp will hit 16p then hit 25-30p by xmas as you said and that will be a nice xmas gift.

georgetrio---------is it possible to short GOO by using put options?
2517

Guys 'what is put option'?

the right to sell a share (the underlying asset) at a strike price for a premium paid. . i would think not- call and put options for blue chips only.

are you sure of that lizard?
options (or even CFD shorts i think) merely require a willing buyer and a willing seller, the underlying quality of the share in question not being being relevant

lizard----------I use options myself and you are correct, just thought that I may have missed something.
2517

they have to be listed to trade options on the mkt -LIFFE exchange. goo are not.
nor would any aim stock come to think of it.

positive rns today for goo. now a producer . a big step. one which should imo bode well for further acquisitions in s america, which could be soon according to rns.

ah yes .... that rings a bell ... but FTSE stock and blue chip are not synonymous of course