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

Z34 next week (license) hopefully.

for those who dont know.
Z34 Talara Basin Peru (1m acres). borders Petrotechs Z2B block to the east. at end of 2005 Petrotech were producing 11,167 bopd of crude and 64MMscfd gas.

my reason for holding goo in the first place but more going on here.

Quite a few buys @500,000 (70,000) @ 14p

i see ludlow as tipped itv bought 50000,

still think this is a good entry level. med/long term.

Just looked @ trades and they are all RED.
Is it the big dump after all the pump.

Same happened yesterday at stages.

Not 45 SELLs on the trot.

You could have bought at 13.70p, now up to 13.80p. All buys within this range.

price is still holding pretty well, which implies sales are being absorbed ..... however, do not be surprised to see sp lurching down, especially if no rns is forthcominmg within the coming few days

buys have been down as sell for weeks. trading at mid price and under mid buys but down as sells. the software cant work it out.

To be honest its hardly surprising if its mostly sells after 3 days of solid rise. It is normal situation that shares behave. I would be very happy if stays as it is now and not fall on previous occassion when it topped 15p mark. Like everyone says the facts is now urgently needed.

lizard
'the software cant work it out.'

Well I can and took 40% profit this morning.
We are not expecting any RNS for a few weeks, so expect SP to fall.

the old adage hoolds true that no one ever went broke taking a profit ...... however, GOO arguably (maybe!) has a lot further to travel, so it's a view .... does one take some profit now and perhaps hope to buy back cheaper before any announcement (have done that with CHP) or sit tight and hope that any sells are easily absorbed?

PATISEAR- yes.
eg if the spread is 15-16p and a trade goes through at 15.5 or 15.4p they would mark it down as a sell when we know it can be a buy under mid.a few done it last week.

PATISEAR - not expecting an rns for weeks. I wouldnt be so sure of that.

Patisear
28 sells yesterday and then several more 10.25 to 11.04 am

cynic------it's a tough call on GOO, I've doubled my money, just, I know I should really take something off the table, as I also did with CHP trouble was I put the proceeds of that sale into FAO @ 2.6p. Back to GOO I think I'll continue to hold, I remember several years ago buying HTV @ 22p sold them 5 months later @ 53p, 2 years after that Granada took them over @ 6.46p, gutted. Maybe, just maybe GOO will offer that sort of upside, so I'll stick.
2517

i shall too .... as mentiond before, i only have a "prudent" holding which is insufficient to top slice and attempt to finesse ...... as with VOG, i shan't be happy if it all ends in tears, but nor will i need to go cap in hand to thre bank manager

IMO a huge amount of this increase is due to hype & cannot be sustained.
2517 - Doubled your money!!! Take it, or if you can, set yourself a trailing stop. Even if the rns is good news, profit taking will take the sp back down again eventually.
I am still holding on a 40% profit but will sell soon & hope to get back in again below 10p.

HARRYCAT---------thanks for the advice if the rns does show much greater reserves, then GOO will go to much higher levels before pulling back, I'm prepared to wait awhile longer. All imo of course.
2517

But if it doesn't???