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

still at it some decent buying. that will probably increase over next few weeks. hope their not playing silly buggers then with the spread.

online spread is 8.28p/8.45p.

;

8.45p buys again.

Blue at last!

We may see a rise in the sp i think .

You would think it would gradually tick up as we move towards the end Oct.
FINGERS CROSSED!!!

I think we have turned the corner . We may see the buyers coming back as the sp moves back up again .

the spread must be tight and buy ratio must high today...hopefully we will a sensible rise from here

We all know that over the last few days there were many buys down as sells .

as i said a few days back the T25's slowly coming in now. next week for me.but will watch the sp. possibly today if it moves much higher.

Nice to see lots of blue , we may see another tick up soon . Get in before we are up to 10p again .

think i may have to at this rate. not a big rise but need to take into account the disguised buy volumes over last week so on that basis it should be up more.

done it today 100k. will do the rest early next week.

Can only buy 50,000 online.

10,000 limit to buy online.

Hi, Fliper - Only just seen your post, mate - Shark sitting on a 25% paper loss atm with a decision to be made today. Thought I'd timed it right last month but obviously not. :o(

but don't forget that if things sour, you will not easily dispose of lots say greater than 20k, or certainly not at the indicated price

someone in the know- oil industry person i expect.
got this from advfn.

hydrocarbon bearing sands.
gross = total amount of sands
net= total that contains hydrocarbons.

usually 50% or so, maybe down to 10% or as high as 80%.

vog drilling report yesterday confirms 55ft net pay in three zones.(his verdict good).

lets look at goo hydrocarbon sands in two zones of 250ft gross and 315ft gross confirmed from drilling in palaeozoic reservoir and verdun.

so if we take the low scenario of 10% total hydrocarbon bearing sands zones 565ft gross. x 10% = 56.5ft net pay low scenario anything over this considerable.

vog confirmed 55ft net pay.

thought worth posting early days but looks interesting.

50,000 at 0.09 looks like a sale the sods hide it to keep the price down.

All buys at 0.920 if up to 0.925 the price should change IMO