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

IF Peru findings are as speculated this week, it is going to very hard to predict the sp by xmas. It is looking better every week!. I think we are going to have a big grin on our faces!

R88 .... am i being singularly dense, but (a) what is so exciting about the Peru project and (b) what makes you think there will be any further announcement on that by Christmas, let alone anything to (over)excite the sp?

Cynic, I think we still waiting for:

The Z34 block license which is potentially important.

As for Peru, if GOO is sitting on 500million barrels worth and is confirmed before xmas.

Colombia is expanding, the company appears to be confident of the situation otherwise they would not be extending the license or buying the equipment.

Importantly I feel the sp is behavior has changed. The movement has been steady and if it does drop it is not a dramactic one like before. The movement has in been line with the press comments and recent rns this week. The support level is likely to be no lower than 13p IMO from now.

Hence why is Mr P still buying, he could easily sold by now and still have nice 7m in his pocket

Do you remember JKX 3 years ago they were something like 15-20p and within 1 year after it rose to 65p and thats when the barrel was something $40 not like now! Look at the price now.

I think we are in a very exciting times at the moment!

Website updated production testing starts on 7/11 for Peru XXI

is that 11th July or next tuesday?

cynic- yes you are!

apparently there has been some further updates on the website, have a look

lizard .... how could you be so cruel? .... i asked a perfectly innocent and natural question!!

Have looked at the website. No updates that I can see.
Spain - Even GOO has lost interest.
Brazil - Blocks (Present & future) unattractive due to terms offered by ANP.
Colombia - Producing at +/- 400 bopd.
Peru - XXI Testing starts 7th Nov '06.
Peru - Z34 4 months now required (from 2nd Oct) for ministerial approval to go ahead.
R88AVE - Exciting times ahead you said. How far ahead were you looking? :o)

so XXI really is next Tuesday ...... unless Manana Disease strikes!

HARRYCAT- FILTERED.

Harrycat if you look again re Z34 and Brazil, you may have been half a sleep this morning from a heavy night. Use the web page at the top for home page of GOO and go from there.

3 November
Perupetrol Approval is expected shortly

Looking for as much as possible of course!

I beg to differ R88AVE - Perupetrol board approval soon. Government approval (Ministry of energy & mines) will take up to 4 months.

Harrycat so you are not going to buy any more then?
You dont sound impress with any of the development so far

Harrycat you are correct on above but it depends on when the application was submitted. Peru XX1 is a restart which suggests testing has already begun.
The log reports though were extremely promising.
Goo now has an income from more than one source which will only increase further in Colombia and has two very possible sites in XX1 and Z34 for large scale potential. XX1 news could be relatively soon and if rumours are only partly correct very good for us all IMO.

I must admit that I sold at 15.18p this week with a healthy profit.
I can see every reason to think that the sp will do what it did before & slide back. In that event I would certainly buy back in, but, imo, others will lock in profit & move elsewhere until a rns is due again.
XXI is the driving force. I have got to admit that I find the other sites have been disappointing, considering the hype that went on here.
My first venture into oil stocks was Cairn, so I admit I am being unrealistic in expecting all others to be as good!

I've also set a stop loss to protect profit, lets see if this will continue to rise!

funny how sentiment changes when you no longer have a position. its all so bad all of a sudden. hold on imo.

Is this the new SEO thread?

No, No, No! Sentiment for me hasn't changed. Twice now, I have held on hoping the sp will keep on going up & twice it has dropped back below 10p, leaving me showing a loss instead of a 40% profit.
Am learning by experience (EME, ELP, VOG.) I should have taken profit on all of these.
GOO has potential, imo, but not in a straight line upwards.