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

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

WEBSITE UPDATED

http://www.goldoilplc.com/brazil.html

http://www.goldoilplc.com/colombia.html

http://www.goldoilplc.com/peru2.html

http://www.goldoilplc.com/peru3.html

a lot happening at goo.

Z34 approval looks likely for october. excellent.

Thanks guys, just wondered about the 'option'. Well may we start to see the steady rise in the shares over the coming weeks, it is looking pretty exciting now.
I can see the company get mentioned in the papers tomorrow (even if its a brief one it still counts)

Just calculcating something here.....
Goo gets $2.36 per barrel of oil in colombia. If nancy alone is producing average of say 760 barrels a day then that alone is as much as $650k a year. Just think when other 2 in the area starts production the company could be looking at trebling that figure! My the future is looking goooooood!

is that right r88ave?.

from website.
The cost to Gold per bbl of P50 oil is $2.36/bbl.

the cost to Gold.?.

i spoke to moore a few weeks back when he said goo break even at 120bpd. that is when he thought Nancy would flow at 260bpd short term. obviously now more than doubled estimates.

on these figures (260bpd he stated goo would make around $5k per day profit). suggested average now 550bpd, we can more than double those estimates.

he did also say he has been advised by the operator that Nancy has potential to flow 1000bpd overtime. with 4 other wells to re enter and further exploration upside.

With thanks to poster.

Well, well, well. Hasn't today been rather nice as it all panned out? The update this morning was rather good, I must say, and then to see the updates on that this evening, really made me feel that we are just getting into gear.

What pleases me is the mention that there are 2 oil plays in the palaeozoic, just like the Daily Mail (?) said many weeks ago. I wonder how close they were to the source when they printed that? I'm rather pleased also that the deeper play is a totally new and unexpected one, thicker than San Pedro, and completely unconnected with the San Pedro formation, and of course, this must open up a whole new host of possibilities. The upper oil play that was the targetted one, is what we were all hoping for, so the extra (and thicker) horizon must surely give our hopes and expectations a re-rating. If they are seriously considering the possibility of abandoning the testing and completion of the Verdun gas sands in favour of going straight to Palaezoic oil production tells you that the possibility of a major oil find here is great.

Yes, we have to remember that we also have gas, and like the above, not just the targetted sands, but two levels. And also like the above, the unexpected second level being thicker than the level originally sought. The potential has always been for the gas to make us all a lot of money, and continues to be the case, for the anticipated size of the gas bearing sands is VAST. If they turn this well over to oil, then it must say something about the size of things to come.

In fact, we have so many bites of the cherry here, it seems we have very little risk of not coming away with anything.

Then we also heard from Colombia today, with another valuable update tonight, along with updates on just about everything else we could wish to hear.

I hear the question "Why didn't the sp take off?" from almost everyone who posts here. Ok, oilies aren't the favourite stock at the moment, and in the recent past, the price of oil has lost a lot of its value, at one stage about 25% down from its highs. Some are even getting right out of oil into something else they perceive to be the next good investment. But its only temporary, for it will be breaking new highs again when the next Middle East Ayatollah blinks, or a gale blows up somewhere. I think people also had other things on their minds today (gambling), but more than anything, I believe Nancy was priced in to a large degree, as we have all known for a very long time that it was about to pump, and even how much we were expecting, so I don't think there were too many surprises here. I think the real near-time upside will come from XX1, as I feel that was the bigger motivating factor in the last surge in the sp. It will come again very soon, and tonights update will certainly help to bring back the anticipation.

I look forward to the next installment, and wish everyone well.

Thanks for that, TVC. You certainly appear to be very knowledgable about the company - hope you are even 25% right about everything! :o)

tvc15

Thanks for that, my head was spinning with so much good news and couldn't pick any one piece to focus on.
Roll on the next few days!

encouraging updates and plenty happening.