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

Fliper, **** ***! As you know, sir, I had to close on this one when I did on T+25. Just got the timing "not perfect" (could have been a lot worse if I'd bought @ 13p!). So life goes on. Wish all shareholders well. Still keeping my eyes on it but probably up & up from here......

Cynic , point taken but the Markets are quite often wise to events and price accordingly!

but not always .... yet again, i hold up ELP as a prime example

Markus my 10 day ran out on friday for a quarter of my stock and I sold prior to the rise. So I know how you feel!

cynic have a look in your mail box.

spread is very tight another rns due???

JB - i have responded already

R88 - another rns due???? ...... have yet to see a first one of any relevance or even significance!!!

It's good to be back, I've been without an internet connection for over a fortnight, thanks to BT, so have had to rely on the papers. Well this is all looking very nice atm.
2517

3.5m B trades.

Lizard what is B trade?

Cynic today news was unexpected, however I think they have only increased their holdings slightly.
I was expecting what the newspaper were speculating, there is no harm relasing more than 1 rns

R88AVE
B Broker to Broker Trade. A transaction between two broker firms.

Welcome back GEORGE

I misunderstood you slightly ..... no prob, though i am not entirely convinced that GOO has something of import to divulge in the next day or two ..... no better than 70% is my estimation, but would be delighted if wrong

Driver cheers, so does 'x' trade stand for mm to mm?
Cynic, no sweat.

Exciting stuff so far the volume is yet again larger than previous days.. surely the mm must getting short of stock, hence above B trades. Could plus 15p tomorrow.

as i have a prudent holding, i shall not cause to sweat!
however, if a solid rns does not appear by w/e, then some others may.
first target will be to see whether sp can break through previous high of +/-14

lizard
Re
"i look around at all oil stock minnows and cant find one id rather be in"

You should take a at SER then, they are already producing oil and are going to expand big time with a M/Cap of only 7m they better be on your watch list.

R88AVE
For future reference.
http://www.moneyam.com/help/?page=trades

Also on Divers tips you will find this.
Money Terms
http://www.moneyam.com/InvestorsRoom/posts.php?tid=9585#lastread

driver i will have a look. not ramping goo but i like the risk combinations in assets. low through to high.

Thanks for the links Driver, looks very interesting.

Does anyone think there is still a rns due based on the rumour by the press, or did they get it wrong? Normally FT is fairly accurate, dont know about Daily Express.
I cant imagine the shares would drive up for the past 3 sessions just for sake of today's rns?. Or is it just huge speculating buys as lots of news are due in next few weeks..
Just wondering....

Probably because the news had leaked that yours truly had closed his position, last week = a dead cert. for an imminent rise!