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

I only bought last week as they are delivering, am amazed i managed to buy at this price.

so am i and ive been in for a llllllllooooooooooonnnnnnnnnnggggggggggg two years. but it was always a med long term play for me. at the very least i will wait for Z34 outcome.

I fear a fall back to 7p could be on the cards . 14.50 to sell ! , will we ever see this again ?

Fliper how can you be negative when it just dropped .25p or 2%. This is just what shorters want the fear to creep in so they can get on the bandwagon cheap before the next big rns. Alot of sales in the trade but the mm wont budge much. Definitely playing mind games now. Unitl now, every rns has been very positive, so I cant see why it should not continue.

The price of crude oil could be the deciding factor, not necessarily the news flow from GOO.

You could buy at 8.48p online, so many of the sells are wrong. I make it 775,000 buys out of a total of 1,210,000 shares traded.

This is being shorted at the moment that is why it is where it is no doubts about that, but one more good RNS and it will be take off.

WHY is it being shorted atm then, Deemule?

San Alberto Block XXI. Sechura Basin Peru;

The company instigated a technical review of the logs, locally and internationally which confirmed the original interpretation of 250 gross ft of hydrocarbon bearing sands in the Palaeozoic and 315 gross ft of hydrocarbon bearing sands in the Verdun.

Production testing commences this month.

also due this month Z34 approval Perupetro, NBM programme/ potential. New Colombia exploration license Ecopetrol?. rather be long over next few weeks.

mark

The shorters expected to make money when it hit 15P and changed their long positions from 6p.

Is it really true there has been sells today so far? I doint have access to online real trade price, can anyone comment?
Bid 8.25 Offer 8.75, I have a feeling the range are much tighter?

Some buys showing as sells..............as usual.

yes over the last few weeks a lot of trades have gone through at mid price some have bought on other thread (moneyam rival) at mid price some also have bought under mid price.

for example spread 8.25- 8.75 buy at 8.5p also under mid 8.48 and 8.49 are buys but showing as sells. crafty.

That is not on is it, that just goes to show its playing mind games again!

think the true spread is around 8.27- 8.48p.

So very tight this is then.....MM deciding which way to go....upwards of course!

just a quiet period imo not much volume. but now approaching mid /end oct weeks news is expected on a few fronts. so perhaps T traders will return. there are a few on rival thread waiting to put T25's on. considering it myself.

Lizard, I am a bit of novice here could you tell whats a 'T25'?

R88AVE- if you purchased now on a T25 (extended settlement) you would not have to pay for the stock until 15th November. or if you bought today at 8.5p and next week they were 10p you could close the trade without any finances from your side changing hands. if you keep to the date you will be required to pay the balance or if in profit close the trade and they will pay you. or if a loss and you close you pay the loss. traders often use T trades speculating on news flow, which is coming up for goo, hence i reckon a few will take a position or punt on goo activities (short term).


a t25 will now cover z34 xxi nbm and may be colombia deal news?. but may be worth leaving to early next week to extend the november deadline.

Lizard, very interesting with thanks.