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

hot money over at ptr

Marcel (ref. 2355) - Without newsflow, GOO is always going to be prone to a backlash, IMHO.
Do you still want those lottery no.s faxing over, BTW?

Yes Please

A bit of a crap day all around my portfolio is down 3% lets hope we see a bit of blue tomorrow and not just from GOO.

PATIENCE IS WEARING THIN IMO

At least GOO hasn't cost most of you as muc as it cost me several weeks back! But, like I said to Marcel earlier, if it does drop back to under 11p then I will be back in for more punishment (a medium to long term hold next time though).

recommend that one sits on one's hands until the markets re-settle ...... not a good time to be putting money in the market, not even to go short ..... both are tioo risky, or at least for my taste

Funny how the market seams to now agree with Harrycat, Big Ted and Myself. Fingers crossed for another penny slip so we can all get back in... The rate of decent though is a concern, thought this would have been more gradual with the timing aspect to news. I am valuing this company sp at 10 and will allow no more than 20% for speculation so will buy at around 12p.

Anyone else whos taken profit already, now looking to get back in got a similar take?

Cynic - Fair enough sitting on your hands but I have never known that tactic to produce gains, especially on the eve of news. :-)

Explosive, You missed my name off your List, above, sir!

I timed my 1st. GOO decision correct by waiting (13p) till it dropped further; my 2nd. GOO decision was wrong: buying (11p) and then again by exiting (< 9p) before it started its climb towards 17p. Marvellous - not!

Anyway my 3rd. GOO decision must be the right one. Hence now the stock is well researched! So planning to buy < 11p which is IMHO a decent entry level en route to holding out for 18p+ (short-medium term)..... 25p+ (medium-long term).

The chart looks awful now that it has broken the 14p support level. The sp definite needs good rns, otherwise it could drop to 12.5p imo tomorrow.

Hi R88AVE
I am afraid that you appear to be spot on with your prediction.
When to do reckon it will reach 15+p again!
Could be a time for a top up??

r88- i dont go for charts i was looking for support at 14p but it did not exist at all. just news and rumour driven imo. just one positive rns could change all this.

When we get good xxi update and z34 Mr Turbot!
The fear of bad drilling report is creeping in hence non confidence in the shares at the moment, all this could change in a split sec with a good report which is what it deperately needs now.

Hoping that this is only another tree shake?

500000T trade should help to prove its just a shake

I wonder if our big investor will be tempted to buy more share seeing as he was happy to buy @ 14p!

Well the last 1/2 hour or so have seen some buying @ 12p ish, as a holder sat on a decent profit it's not been much fun the last few days, loads of patience required.
2517

I second that 2517!

Sent an e. mail and again near immediate reply leave it to you for your feelings but mine will be to hold and wait!

We have taken advice and its simple. Say nothing until you are in a position to be conclusive or have finished the work. Anything else would be misleading.
Regards
Gary

What is the first impression you get from the comment above?
First impressions are often the most reliable