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

Do you mean 10p??

Surely, if stock was in short supply, (i.e. demand outstripped supply) the price should be more expensive? My logic, not necessarily right, would assume the opposite. Too much stock & not enough buyers.

looks like block XVI still on course for the GOO portfolio!.

I called that wrong I thought we would see blue at the end, no worries GOO is getting better every day, (early days).

Research Thread has been updated (in the header)

http://www.moneyam.com/InvestorsRoom/posts.php?tid=10572#lastread

lizard ... apart from the fact that I am a fool, what makes you agree with that opinion?

20D average is 10.69, on todays news the sp should increase. Spread is just over 5% any further fall and the sp has to rise!! Tomorrow should be interesting.

Providing we get some media corverage tomorrow. Surely there must be something!

anyone seen any media?-

nope!

IC- should put something in on last week results. but not that important their view.

pretty confident that the trades at mid price 9p are buys as well as those just under mid. L2 now 5 v 1.

Is director making us play the guessing game by buying shares prior to XXI results?

a signal?.

A Signal for what?

you work it out!.

Some can't work it out !!!

perhaps the directors have a positive view on XXI.
to increase holdings at this time with next stage due to commence.

just a thought may be wrong.

Why do you think share price has dropped then?

1970

This amount off selling is bound two affect the SP. As Lizard say's any positive news on Block XX1 will have the buyers back in big time!
You either hold & hope or you sell , easy really!