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

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???

then one will lose some or even all of the profits ...... depends on the significance of one's holding and one's perception of the risk

Harrycat re comment for 2517 - saying you are hoping it will crawl to 10p, what it if doesn't! Vice-versa. No-one knows what going to happen.

HC-----As a wild guess I would say somewhere around 9-10p which if I sold now and bought back would increase my holding by about 1/3, mm tempting. For the last 2 hours or so buying has been minimal, it's mainly sellers atm, although in small parcels they are mounting up and I would have expected the sp to come off a little as a result, perhaps there is a buyer in the wings he says hopefully.
2517

Lots of those sells are actually BUYS

Scary stuff eh!!
Amazing that we are all grateful to scrape 5% gross interest from a bank or building society & count ourselves lucky, but 40% - 100% profit margin in a month or two on the stock market & we feel short changed!!!
R88 - Fair comment.
Am still holding but starting to get nervous.

Todays Daily Express

Drug discovery firm EiRx Therapeutics was steady at 0.28 amid speculation it was set to receive two milestone payments.

MM's games 13.55p to buy online.

PH
Is on the wrong thread again.

he's stuffed that damn post all over the place!

meanwhile, GOO looks to be suffereing the usual "too far, too fast" syndrome, but i am happy to stay put for now

never seen a share that goes up everyday.

A bit of cooling off wont do the sp any harm not many shares go up in a strait line especially with out news. If GOO is sitting on one of the biggest ever finds in Peru. (D Mail article) then we could be looking at a multi bagger from these levels.

1 share that's the code

Now you see it now you don't.