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

neither ...... just pretending to be bathing in oil (made a change from ass's milk)

i don't think i wont to know wot you are getting up to. do's your doctor know about this. you might get some help for it. try takeing milkthisel, it not cost as mutch as milk.

not much chance of me selling at these levels.

Defo not selling until at least 1, this will be reached within the next 6 months imo

im optimistic but that is a v bullish target BUT potentially XXI and/or Z34 could do it.

Exactly, IF they get Z34 it will an asset to the company worth gods knows how much. We know roughly how much oil is in production to east of this block. Plus its 30 years license. There is so many potential for GOO and it has a chance to go long way imo. Exciting times ahead. Someone on other predicts sp to be at least 25p by xmas.

Reminder of Z34 potential:
Block Z34 sits in the prolific Talara Basin which has produced to date in excess
of 1.7 billion barrels of oil and 340 billion cubic feet of gas(1). The 3713 km
(2) block (equivalent to 14 North Sea Blocks) sits adjacent to existing
producing concessions in water depths of 100-3000m, yet has a sparse existing
data set of just 500km 2D seismic and no wells. The initial work programme will
be to acquire a conventional modern seismic grid and enhance these data with MMT
and Electro Magnetic studies.

i think the above figure more realistic short term maybe slightly more.

Anyone remember what GOO started the week at, please. Quiet innit.
2517

Opening Mid on Monday was 16p. Still looks good to me.

Thanks Mr T. Yes it does and with more newsflow ( hopefully good) to come we could have an exciting ride next week. Upwards of course.
2517

i wonder if the contracts for Blocks Z34 and XVI were signed friday?.

BID 16p........OFFER 16.75.......Down 7% today so far.
IMO the sp ran out of steam due to the lack of any news.
Assuming the next rns is going to be good news, this week could be a good buying opportunity???
Has anyone got any accurate information on when the next rns is due?

my trailing stop loss has just been hit at 15.6 ...... glad i had the strength of mind not to cancel it earlier ...... too easy to see all one's profit drift away

Nice to see you are making money.
Are you going to buy back in?

added on fall. 15.62p.

I have done what I do best-----------Nothing, keep the faith peeps.
2517

yes ..... but within next day or two, almost certainly only if sp falls further ..... as previously mentioned, just so dificult to determine a realistic and sensible price, even if some sort of drilling result comes in

When the price goes up with no rns, we all assume someone has an inside line on imminent good news. When the sp goes down, I wonder if the same is true in reverse?
I assume lots of stop losses are triggering, hence the continued fall. Big spread at the moment 15.50p - 16.50p.

you may have assumed that someone had an inside line when sp was on the way up - i didn't ...... fall is almost certainly no more than profit taking (no one ever went broke doing so!), but it could also be argued that, at least for the time being, sp has got too far ahead of itself, purely on lemming-rush speculation and anticipation

Well it's trying to fight back again now.
2517