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

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

Should be due a tic up now.
2517

Given that GOO are an established company and are operating all over the world, and come up against problems , as is the norm, the necessity to seek advice can mean one of two things.
1, they have encounterd a major problem that will 'greatly' affect the SP.
or
2, they have hit a volume of PayDirt [oil] that will 'greatly' affect the SP.
Hopefully its number 2.

cheers lq- i take it its genuine.

XXI- San Alberto-1X.
these things take time so no rush as long as when news comes its positive.

Personally I dont see the point of emailing G Moore for an update when anything to do with the any of their project is highly sensitive to sp. Of course, he will not give a hint or anything whatsoever. Obviously it is very hard to get reassurance at this moment of time when you see the sp dropping like flies in the last few days. However, if you had paid for your share at sub 10p personally I dont think you have anything to worry about. As soon as I hear positive news, I shall be back in like a shot, but at the moment I am watching as it develops. Ok I may lose 10-15% head start, but I would rather jump on board with much more positive outlook than speculating at this moment of time.

i am always amazed at the front so many of you guys have in e-mailing assorted CEOs and the like for info that is not in the public domain .... i am even more amazed that so many even reply, and do so politely and sometimes with info, which it is questionable should be made public

Yes, indeed, Cynic!

R88AVE, agree with your sentiments, as well - safer to sit on the fence until you can see the clouds melt away and the field becomes a lot clearer.....

Alot of buying at 12p and a small move up . News will push it up more .

Fliper news could drop more vice versa really.

Fingers crossed this levels off on a slight downwards slop. 11.80 is my hunch this will start to happen but like I say just a hunch!!

For those still trying to value the company then 11.8p would make a market cap of 48.5m for GOO. With the balance sheet showing under 4m any positive news may only take up the difference, so news needs to be very substancial for an increased support level and any good long term gain to be made. Lets not also forget that GOO currently doesn't generate profit. In my eyes a good find would have to be followed by a farm out deal to first become cash positive.

I'm sure to now be abused for the post but all the same would like opinions!

No abuse from me, Explosive as I agree with you, fully here. My earlier punt on GOO cost me over 600 (ouwch!) when I timed it wrong. As such, I have learned that ongoing positive updates are required for steady sustainable growth. I am heavily over-exposed into mining stocks (for my sins!) atm. But yes, farm out deals are great for the co. being supported as the new (more affluent) partner bears most of the financial burden. I had a 7-bagger (exploration co.) in early 2005 along similar lines and the same could very well happen with GOO? But they will definitely require some kind of assistance, for sure.

explosive- goo is a producer. there are many that are not with a high/higher mkt cap take vog and chp for starters. produce 0. agree though need a bit more to justify it. but could easily come the licenses have a value in themselves without any work. 30yr e and p on XXI Z34 has a value in itself.NBM should get to around 2000bpd in the next months so getting there.