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

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.

dont think it means much just that moore wants incentives for staff which is good. the exercise price is encouraging 9p.hopefully when they want to exercise them up to 2009 they will be way in the money.

thankyou for your quick response on this matter.

shame it wasnt an rns with 'more beef' to get sp moving north.

Lizard do you think this partly why the shares have drop so the company could buy shares at rock bottom price. I did mentioned last week that MM may be under instruction from the board

i suppose its possible the warrants expire on the 6th oct 2009 so they may have subscribed 6th oct 2006 at 9p. 22m warrants is a fair few it would certainly encourage me to work harder.

well they did not want get in at a high price, smart management, don't blame them though as there are few excellent management like this on this part of the market. before 2009, the sp will more than double and the management will smile so will we. might as well put a buy order at 8p, you never know.

more than double! if thats the case they wouldnt have delivered imo.

ok let say minimum, more than triple to start with. It is now clear to me that there are more juicy news on the ways. will see, will see

havnt opec curtailed the ammount oil which Countries can pump@any one time according to the business pages of telegraph

interesting thoughts on moneyam rival website regarding XXI and issuing warrants at this time, for perhaps if they were negative on XXI and was expecting bad news they could have subscribed for warrants at lower than 9p maybe 6 or 7p in a few weeks time. additionally if XXI proved positive they would have to subscribe at a higher price. a long way to go but early signs looking encouraging.

the fact they issued the warrants now in build up to XXI gives me a quietly confident approach (maybe the directors thoughts also) to the outcome. perhaps this will come to the attention of T25 traders.

if these views are wrong im still holding for Z34 and beyond. goo may also have a new Colombia exploration license for the portfolio soon.

lizard
Yes I agree it was a vote of confidence from the board IMO.

Things are hotting up in Nigeria today, should hold oil prices steady.