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

don't dispute it, and am not unduly surprised ...... however, a 50% profit in a few weeks was very welcome, and in all honesty, there is no point in setting stop losses to protect a profit if you then override them ..... confess i often break my own rules, and have often suffered the consequences

Do T10's trade expire after 2 weeks? I see this is the cause of sell of shares, these people were probably expecting immenient news within the last 2 weeks ie Z34 and XXI. The shares have risen in last 2 weeks

Good point!
Any lower and I'll buy more.

the market is looking pretty soggy in general ...... this is, i am sure, no more than a much needed correction, but it is not unlikley that this will force out a number of quite heavy sales across the board, and in particular (as is usually the case) in mini-minnows

But, imo, it would also indicate that news on GOO is not expected in the very near future (this week).

Well, somebody in iii website stated that G Moore emailed him and stated the test results will be within 20 days. However the Z34 license must be close surely

As I posted before:
Peru - XXI Testing starts 7th Nov '06.
Peru - Z34 4 months now required (from 2nd Oct) for ministerial approval to go ahead.
I have not seen anything on the GOO website to change this.

i really do question the veracity and credibility of these piddly little PIs who put about that the CEO of a public company can really be bothered to correspond on matters that are not yet in the public domain .... or even if they are for that matter

So what are you trying to say, cynic? C'mon, spit it out! :o)

Gary is really good at answering e. mails Cynic, this week though IMO will be a buying opportunity.
Again though it was a restart on the 7th Nov I am interested on what caused the halt?
Anyone technical any feedback?

Just did a buy and coming up as sells so MM protecting the price.
T20 as well.

Harry .... merely as i posted!

HARRYCAT- do not be so sure about that!.

So what are you trying to say, lizard? C'mon, spit it out! :o) ..... lol!!

Back from Bonny Scotland, still waiting I see not a time to be selling this could rocket with some good news.

Each to there own driver, I think everyone agrees this is a good share to be in for the long term. I'll definatly keep my eye on this one but feel the current price represents a great deal of speculation at the moment...

The below is an sp estimate for BLR. BLR only own 15% of the well a gross carboniferous reservoir interval of approximately 60 metres was identified.
Could anyone use this to help a GOO sp estimate?

Well the value of Monty could be quite good depending on the economics. There is potential for this well to flow 30mmcfd or 750boepd to BLR. Reserves could be in the region of 165bcf or more depending on the production index of this well. The PI is expected to be high with only two wells to develop the entire field and given the 30mmcfd rate (would be classified as a significant discovery by the DTI if that is the case). The reserves would be approximately 4-5mmboe to BLR, a undeveloped NAV of about 20-25m. Given a modest rate of $5/mcf, you would be talking revenues exceeding 22,500 per day to BLR. the reserves would give them purchasing power or leverage to get developmental funds. Development of monty would be late 07 early 08, we would get an appraisal some time next year if successful. I could see BLR appraising Monty and selling on a confired reservoir size, auctioning monty at the stage of two shut in production wells could fetch in a very decent amount to BLR (25-30m) not small buns to a 8m company. Colombia would fit in there somewhere on top of this. How many other companies have 15% carried on a potential 165bcf target and cash in the bank and a pilot steam production project on an oilfield. If Monty is a goer BLR will be grossly under valued. Derisked monty could be worth 3p on the share price, Arce baul 1-2 etc lets not even get onto Bukhara or La Tolda yet.

Completely different, wouldn't look at that too much as even for BLR the post is highly sceptical....

gold oil website updated

re:- xx1 rig

Thanks Dreams.
Explosive may be worth buying early.