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

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?

explosive- p50 reserves of 727,500 crude oil.

there is further exploration opportunities on the three oil fields Nancy Burdine Maxine (NBM)- operator reckons est reserves of about 12MMbbl i believe + proven. so enough to fund the bigger projects imo.

hopefully gold will be making money asap from XXI. oil or gas or oil and gas. San Alberto-1X being converted into a Palaeozoic producer would be the outcome we want.

Thanks Lizard, so NBM has with current production rates a life expectancy of 39 years approx. Would be nice to see a good increase in production but still a sizeable 240mil asset.

Finally a piece of blue for GOO.

Yes you can say that again! Lets hope it will last till close?

Yes and with so many buys in a shortish time, maybe some news around the corner.
2517

The chart looks interesting could be up from here even with a small bit of news.

Apparently whisper of news out after 4.00pm today, I have buy order in now

Thanks The Master

Positive is so long awaited

Is that whisper from a good source ?

Any indication of what the news will be?, you seem pretty confident !

sold out of these last month at 12.25 much to my disgust, watched thought about buying at 12.0 went out for 20 mins now bloody 13.25, sod it back in at that price, testing should be complete within next two weeks maybe two hours if your rumour is right, in for long term now

I was trying to buy online via mu broker @13p their system was down I've placed an order which is in a queue , but the share price had gone up to 13.5p , still don't know if I have them yet !

I hope the whisper of news is right, provided it's good news of course.
2517

I don't like whispers 99% of them are unfounded this rise is punters jumping back in afraid to left on the side lines after selling out my strategy has always been hold and buy on the dips your blood pressure stays the same that way.

especially the one suggesting news after 4pm.

unfortunately missed that dip by 20 mins after watching for last 4 weeks, then hoping would drop a little more, thats trading for you. :-(

Still come Xmas might just be feeling a little festive, people rarely get in at the bottom and out at the top, happy to take the middle ground, as long as I'm on the right side of the news.