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

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.

I often e. mail CEO's of companies and with a fair few who are helpful.
The e. mail today is genuine and I replied on first reaction, "Fair one! I will wait out!"
One hell of a week so far down quite a few thousands across the board.
I am just hoping the markets will pick up during the week.
GOO wise I have stock ranging from 6.5p right though to 9p and then an error at 16p but happy to hold and wait.
I did though sell 50% at one point which covers all current stock as not owing me anything apart from the 16p ones.

not too happy to see sp falling through 50 dma, though as someone else has commented, charts on minnows are not as usueful as for larger companies

Could well dop even more, Cynic? Sells:Buys = 9:4 today so expect a further retracement without any support/RNS or otherwise...

CYNIC i am in these for the longterm,not too worried about the recent sp fall,having said that i can see these back at 10/11 p without news soon the same way as chp has fallen, i of course stand to be corrected.

Capetown, What do you consider to be the main threat/downside here? What can go wrong/NOT be announced which would harm the sp, in the short term?

MARKUSANTONIUS
The obvious threat would be bad news on testing results,having said that if news does not come sooner rather than later i think the sp will drift lower,for me that would be a good buying opportunity as i am in this for the longhaul.

Lizard - I stand corrected with my last post, Nancy 1 is producing. With a working interest of 40% and the well reported to produce between 245 and 835 bopd. Using a 50USD price per barrell were looking at on the higher end of the scale an interest of 334bopd or revenue of just over .5m a month. Anyone know the life expectancy of Nancy?