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

I'm away this week so will not be posting till next week up in bonny Scotland.

enjoy driver!.

Now lets see if this falls back a little .15303 sold was the sale price so just over 50% profit. Agree that long term this share is great. Just feel these will fall back now so best to sell and buy back in. Anyone else here done the same?

I have top sliced 50% this morning

goo is getting stronger and stronger,the price drop is holding around 16 now, as one of you said 12 16 25 and up we go.

not one to be out of imo waiting for the odd penny drop. buy it and hold.

Well I am defo holding. Too much news due not to!
Looking at the rival webiste, there is a guy/woman who has been pretty accurate in prediction sp for the past 2 weeks. Predicts the sp to be 18p by this Friday and 25p by xmas. IMO it could be a load more if the oil starts to flow in Peru at a rate as speculated.

Got out this morning taking +50% profit, but soon bought in again on a slight price drop. Don't want to miss out on the potential of this beauty. Trying to find some more cash but also want to hold on to SOLA. oh well! see what happens tomorrow.

Added today but didn't commit all funds allocated for Goo just in case opportunity arises to buy even lower. Interesting to see so many top-slicing this time around, nothing wrong with a profit, did it myself last time with no research, just a tip & went with the flow and made 50% in a short space of time.
Bought back original holding cheaply and pocketed profit before adding today after having a closer look, more press reports, stake-building etc and would not want to be out right now if the speculation of the size of the field is confirmed shortly. I find it difficult to value Goo's potential, SEY has capx4 of Goo with their share only 16m barrels in Chinguetti BUT with gas in GOM plus a wide portfolio of projects including huge potential in Madagascar. So where should Goo be valued if 100m barrels? For what its worth my guess was 4-5x todays price per 100m barrels. If Goo made profit share of $5 per barrel that works out at 250m as asset value or 4-5x current sp. Take the above with pinch of salt, not really my game as you've guessed but Goo could well become a star of everyone's portfolios over the coming year, better to have a few and cope with the volatility than be out unless you are skilled enough or have sufficient time/access to buy cheap, sell high and react quick enough on any significant substantiated news.
Good Luck everyone, may there be plenty of gooey black stuff for Gold Oil.

i did the same sold at16.60 bourght back at 15.90. so im happy.

Found this which is located to the right of the Z34 block in which is GOO is chasing license for. To give you an idea how much oil in production near the area at the moment. This is Block X for Petrobras, the only one in production:

Petrobras operates in Peru through Petrobras Energia. The company has interests in oil and natural gas exploration and production in two blocks in Peru: Lot X and Lot 57.

The main operations are concentrated in Lot X, which is in production, and in Lot 57 Petrobras undertakes exploration activities as operator.

The company's share in the production in Peruvian territory is currently around 13,000 barrels of oil equivalent a day.

Petrotech's Z2B (Sechura Basin) block to the south of Petrobras block X is located to the west of XXI and Z34 borders it. Petrotech produce 12,500bpd and 70MMSCFD gas.

Well done to all who were able to sell and buy back cheaper, experience tells me that my timing is not honed to such activities, and whilst I believe the prospects are outstanding I will continue to hold, and not chance missing a significant increase in the sp for the sake of a penny or two.
2517

7.3 million buy!!!

Another tick up?

7.3 million was broker to broker.
Going up slow and steady another tic likely!

What's a tic?

Sorry - I am still learning :)

up a quarter of a penny tick up
down a quarter of a penny tick down

Nice jump up.
2517

My, my all time high tonight. Its get better by the day!

still undervalued time will tell.