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

Its seems everyone gone quite, proabaly gob smacked by the way shares have behaved despite excellent rns this week. It is very frustrating however you have to remember some of you guys are in for the long term. Do you think the mm are under instructions from the board of goo to lower the price? I really dont know how mm people work? I have seen shares rise dramatically on very low volume.

what is this great preponderance on this site for conspiracy theories? ..... sorry, but it's total rubbish! ...... shares can rise and fall for no obvious reason, but that does not mean there is some sort of coordinated action in the background.

at the moment GOO is dull, as is CHP as is VOG and any number of other third and fourth and fifth rank stocks ..... crude and general commodity prices are weak, and there is little or no news of any true significance ..... ergo, little interest so prices are marked down.

if you can't accept that the markets are unpredictable or even "unfair" at times, then you shouldn't be there.

I agree that the market is weak, but I feel the director purchases and the general rns has been superb. It just seems not to have been picked up by any of the financials or investment sources.
IMO if this occurs a 2p rise will happen.
The big catch appears "IF!"

for all the recent sector hammering. we can say that goo have an interesting Q4 ahead. they will be valued according to updates on activities.

you may well be right lizard, provided the current malaise for oil and commodity stocks does not get worse .... hope you're right anyway!

doesnt take much for it to kick off again korea, iran, nigeria very dodgy atm etc. then oil prices will move again north. $60 pb aint cheap.

whats annoying really is, all predictions on final results for this year are mostly based average priced per barrel of $40. A lot of people didn't or wont able to predict cost of for this year. And yet now $60, everybody is negative about it.
Looking at the econmy global, I can see the demand for oil picking up strong before end of this year now the dust settled and uncertainty of interest rates rise have been balanced out. Dont forget we have managed with high oil prices for months now the world is beginning to adapt.
come cold winters or gepolitical tension it will rise again.

i think goo is in price correction at the moment and its done now. I am hoping for much better week.

What I cannot understand is, if the arguement that the GOO sp has not increased because oil is now less valuable at $58, why should any other oil stock sp increase?
Yet EME ticks up on predictable news and no oil yet???
This wouldn't be a North Am. v South Am. thing would it?

EME has been hugely higher only a few months ago ..... rightly or wrongly, some may now deem it oversold, especially as there is a reasonable (some might say) chance that Sugarloaf will come up trumps in the very near future.

harrycat, I think eme are drilling in US which proabaly favourable location than where goo are. Personally nobody can really explain why this is case when shares are worth than other when they should nt be. Thats the market i am afraid. But hey GOO is going to pass EME mark this time next year and we will be millionaires!
LOL

Great. If only you had told me that earlier I wouldn't have worried so much.
Now, how to spend all that money................? :o)

Cynic - what I meant was that EME had ticked up recently (The week just gone) on vitually no news & no oil / gas. GOO starts to pump oil (allbeit mixed with other stuff) and the sp drops!
Surely, if your arguement is correct, it is GOO that is oversold, not EME?

but EME have been giving weekly updates on their Sugarloaf drilling ...... They have now just about reached target depth I think, so no doubt there are hopes of a super-strike ..... An sp can often acquire a self-perpetuating momentum, and with an upward break occurring last week, this may (not will!) continue for the next week or more.

didnt think we would go below 10p but there you go. didnt think id be buying anymore but i did (8.5p). right or wrong?. just think this drop is overdone.
rightly so shouldnt be trading around 15p, but with excellent news from colombia think the range should be around 11-13p. (the rest and future direction will be determined by XXI).

Z34 approval expected this month. NBM workovers. would think 1000bpd on NBM by end of Q4 a decent possibility. update on new Colombia exploration license?.

oversold and they know it mkt news recently excellent. even starting to get interested in XXI.

yes i think so to.

11.24 news just come out on money am new out warrant and issue dealing.

I have read it but what does this mean?
Will it have an impact?

I think we need lizard to answer the question to this one.

I think we need lizard to answer the question to this one.