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

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.

MMMMmmmmmmmmm - looks like I might have top sliced too soon - tut tut

i had 400,000 up until early this morning, i sold 200,000 this morning at .16p the shares I sold cost me .142p. The remaing 200,000 shares cost me .1675p a few days ago. I must admit I was sweaating yesterday when they dropped down to .15p. Especially when I could have sold the previous day at .17p. I am feeling a lot more comfortable at the moment with the remaing 200,000. Good luck to all who are still in. I sold the 200,000 this morn because i started to panick a little yesterday. good luck all, all we need now is some good rns.

Janet am I correct you got these at around 10p mark. Well if you have you ain't done too bad eh 60% profit. I too got them 10p but still holding, this quarter is too good to be out IMO with a load of news due.
Like someone said yesterday, there must have been a load of stop loss orders, when the sp keeps rising like it has, the people like yourself will start to get nervous as it might drop like before. I feel this time round the sp is alot stronger and building supports. The tree shake didn't really do any harm. I think it did us a favour for the chart.

the shares I bought at .10p where sold a long time ago, the went up to .14 and a half pence then they dddddropped on bad news down to .85p I pannick and took a big loss on those ones. I will keep taking profit as I am going along now. I could have sold my 400,000 two days ago and i could have bought them back yesterday at .1525p at one stage. I f only we knew when to sell and when to buy we would make loads of dosh. that would have been a really good deal. I could have solld the lot at .17p. keep your chins up and pray for luck.

JB ..... sorry to say this in open forum, but you don't seem to have learnt your lessons of recent months ...... By good fortune, GOO is currently performing well, but as you admit yourself, you were ****ing yourself just a couple of days ago ..... clearly you are still badly over-exposed on mini minnows with all their inherent dangers.

janet hi,being relatively new to this game myself i have a completly different strategy to yours and basically if i believe a share will produce the goods medium to long term, rather than selling everything and taking an instant profit i take out my original stake and carry the profit as free shares.This way if they carry on rising you have lost nothing but the shares you still own which are free are still making you money.If you manage to buy and sell at the right times you can soon accumulate a lot of free shares which in 2 to 3 years could be worth a lot of money at no cost to yourself.

Above post is the top slicing many did yesterday Janet.

Sorry but only one word for your current system - CRAZY!

thats new for me 'top slicing' 'ill try that some time
Thanks.

medium /long term hold.

Lizard as long they get the Z34 license!

Up a penny down a penny. Might have taken my profit but would still like to see GOO fly. Fingers crossed I can get back in. Have I taken my profit too early????

Best of luck to everyone still holding.

And I thought i'd cocked up buying at 9p and selling two weeks ago at 12.5p, been waiting for a correction ever since and it doesn't look like coming, hope you all do well but beware the duster, waiting for chaco now ;-( could be a while...

Don't feel confident enough at present to buy these at this price, could drop on news even if its good, depends on alot of factors.

Always other opportunities

i do not believe it possible to put a realistic value on GOO, even if they strike lucky in Peru with say 1000 bpd (would be delighted to hear from those who can give realistic guidance ...... with that in mind, have merely put in place a trailing stop which, though it may get hit on a single bad day, will nevertheles ensure a decent profit in the bank.