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

Hi
I do not think it is a good idea to dispose of your shares at the current price. Just have a little patience!!
Just wait until the results of the testing.
Regards
SM
E mail stephanie.speculator@gmail.com

Now that is confidence even with full e. mail and no DYOR etc.
But I do agree and did not sell earlier despite temptation
Sorry I am drunk cannot avoid the S&M connection

dates from website and advfn-

Block XXI Sechura Basin. San Alberto 1X Exploration Well- rig on site saturday 28th Oct production testing operations to commence wednesday 1st Nov.

'OH' 'OH', going down, is it time to sell???.

go on then!.

do what you like! .... however, a reaction was always likely after that hefty rise, especially in the absence of any announcement ..... also, the all time high of +/-14p was also likely to prove something of a resistance

stephanie
We are honoured that you have visited are humble thread with your wisdom we can't go wrong come back at any time the door is always open next time we might put the kettle on.

Still looks blue to me.

And me

lizard-cynic.
"ha" "ha" "ha" "ha" "ha" "ha" "ha" "ha" .
Reel them in.
It's been nearly 8 hours since a post prior to mine, and within 1 minuet of mine, you are hammering the keys.
Relax, and do not take posts personal.
This SP will come good, and hopefully we will make lots of .
I have lots and lots of GOO and will add whenever it dips. But I took 1200.00 profit yesterday and am happy to wait for the big one.
RELAX.

1200.00k is that lunch money?.

I wonder if the 12p mark will be the resistance from now. I am glad the shares have behaved reasonably good today after yesterday. Its going to be GOO Friday tomorrow!

PATISEAR
You should have put it in GTL it would be up 7% already

lizard
It's better than loosing 19k in 3 days as I did with VED.{dinner money}

driver
Thanks, will have a look.

Pati* - at least you also admit your mistakes (teach maestro, if you can be bothered!)

ok to take a profit patisear.not questioning that.
think goo has more in it over next few weeks imo. looking at med/ long term anyway.
R88AVE, do you mean support we are through that level. resistance will be past highs when spread was 15.25-16p.

goo will get stronger, as a trees roots spreads and as the goo gets bigger and bigger.

lizard thanks for correction, still learning!

no worries. perhaps we will see a few taking a position today or increasing with rig on site at weekend ready for next week production testing of San Alberto-1X.

link on advfn reuters phoned burchell asked about rumours of big oil find in peru.
obviously he did not release any information. but stated 'we are not producing hydrocarbons yet'.

does appear the media reports are becoming more frequent and of similar tone.