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

not for me its not due as yet or delayed as yet. the timeframe is the next few weeks for Z34, XXI, NBM updates. possible new exploration license Colombia.

am happy to hold (not breath!) and wait ..... as with all these E&P companies, i only have modest stakes, so no sweat

And we all thought you was a big player cynic.
Fair bit of volume today with out news always a good sign.

well you thought wrong didn't you! ..... though modest or the reverse are always relative

I wonder what/why the mm were starting the spread so tight this morning.... I am baffled! I think this is week is going to be a long one if no rns!

cynic
Must be the intellectual qualities you bring to this board that made me think other wise.

i am delighted though again the one has nothing to do with the other

nor is a rainbow one colour/ is this some sort of code you use,? only jokeing.

its the 1m B trade thats got me interested today.

Was it a buy?

Usually I would say that it was probably a B2B block sale. However, judging by the price at the time of trade, maybe this one was a BIG BUY? Interesting indeed...

trade symbols can you tell me what the symbols o ut at stand for on buys on the trades sections.

janet

Scroll down for trade definitions

thankyou prodman

L2 7 v 1. good.

Yeah, but it's still not moving north yet, is it? :o(

no!- not enough volume to move sp at the moment. good for me as looking to increase but cant until thurs fri.

OK, guys, The Shark is out now - cost me several hundred squid = another "bad day at the office!" - had worse days this year so gotta be philosphical, I suppose? Anyway expect it will start soaring henceforth.....

:o(

Now the sp will rise !

Yep, for sure!

:o(