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

harrycat IMO the shares are in for strong rise with a little drops in between, the attitude towards GOO is changing with a lot more confidence now. Particularly with the recent press comments and now Mr P has increased his share holding. How positive can you be.

thay seem to be a lot that dont know hower to play chicken. only eat it. hold on.

Driver
On the main investors the maths are wrong for John Moore and Ben?

dave7010

Do not post on the Research Page it's for Research only

(If no one posts on there it rolls round the back and is not mistaken for the main thread).

Can you please edit leaving a full stop only. Cheers

laurie
Cheers I have changed Ben Anderson now 6.5100%

19-08-2005 Ben Anderson - 22,500,000 6.5100%

From todays S.Times, Heaven and Hell Portfollio:

"That has not, however, stopped me top-slicing my holding in Gold Oil, an exploration company, selling two-fifths of my shares at 13p. I shall probably regret reducing my holding here because there have been reports that AIM-listed Gold Oils well in Peru could be bigger than thought. "

There's a bit of a theme developing here in the press.

tvc15
Re "Gold Oils well in Peru could be bigger than thought"

Was that mentioned again in this weeks S Times?

No just the piece i posted.

Harrycat- you are right on the timeframe with the Ministry for final approval but the signing of Z34 and probably XVI this week with Perupetro is a very positive step for the future of the company. One step closer to securing a 30yr E & P license on arguably their biggest asset.

not alot of shares, jan had to order 200000 on line.haveing to wait for them.

MM holding out going back to 17p even after 2 million sells.

despite that sell of 1.7 million earlier thgis morning, buys still look to outnumber sells quite comfortably

IMO I have a real good feeling about this and see 20p sooner rather than later IMO!
Not meant to be ramping!

i don't necessarily disagree with you re 20p, though in all honesty, i cannot see how to evaluate this company realistically

True we need the peru update and then there are so many other parts to GOO the potential is a gamble but massive!

but still no idea how to evaluate!

One thing is for sure anything over 100 million barrels in Peru and the sp is over 50p IMO DYO!
Probably the reason for the current pricing.

I cant believe how quite this board is, despite exciting times when the sp is at all time high. Are you loss for words!

General disclosure of price sensitive information
Testing is due to restart tommorrow but AIM must be aware of the several day run on the price I requote from a post on ERX the other day the rules.

11. An AIM company must issue notification without delay of any new developments which are not public knowledge concerning a change in:
♦ its financial condition;
♦ its sphere of activity;
♦ the performance of its business; or
♦ its expectation of its performance,
which, if made public, would be likely to lead to a substantial movement in the price of its AIM securities.

There isn't really much more to say R88AVE. We can all speculate until the cows come home, but news is now needed. How much oil at Z34 & test results from XXI.
But I will say that you guys need to have a strategy in place just in case the news is below expectations, unless you are going to hold indefinitely.