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

lizard
Yes it's in his Heaven and Hell portfolios as in Solid Performers and Volatile winners no prizes for guessing what one GOO is in.

none at all at the moment. didnt expect anything else. mm having immense difficulty valuing goo. look at the graph is it, isnt it, is it.............

XXI news now will determine trend short term?.

Nice recovery, now lets make some progress.
2517

Without news, this will not hold imo. Expect profit taking by the end of the day.

if you said that at 17p then fair enough. its now off about 35% from highs so imo will see a level around here in anticipation of news that could come anytime.

gold have producing assets in colombia and spain. there are many that have f all production with higher mkt caps.

Capetown, you have mail.

Interesting to see how the price holds up in the run to Jan. Any ideas on the new support level/resistance anyone?

I'm sticking to my 11.8 Mark...

Poster over at ADVFN:

"Ubergeek - 4 Dec'06 - 17:08 - 13525 of 13534

rns doing the approval rounds, should see something this week.

Good or Bad I dont know though.

Uber"

Oracles - Thats the dark side for yer...

I have downgraded my own target re-entry price to 10p (previously 11p) which I now consider to be realistic support/resistance level. This being based on periodic monitoring of price movements before & after RNS's. Defo just *IMHO* though and not based on any TA whatsoever. Well not much anyway. Good luck to everyone.

Expecting a further slide today - but how far is another question.....?

markus- imo this is based on you have sold out and want back in hence the deramping!.

Lizard,

Correct re: bad timing costing me a few quid.
Correct re: wanting back in (at as close to support level price as possible. Yes, absolutely spot on!).
Wrong re: deramping. Far from it. Think you must be on a different Planet? Please show me a post where I have "deramped" this company?
Deramping the share price: No, not really - more like hoping I can buy back in at the best [lowest] price.

Please select your words more carefully next time, sir!

Anyway - off to bed now - been up 24x7 watching The Ashes disgrace.
G'night everyone.

Well, OK maybe "deramping" the share price in the short term (but that alone, nothing else). OK, now I am off to bed!

no deramping necessary on the England cricket team. wont be watching anymore!.

goo-i'd rather be in than out waiting for the odd tick down. who knows what/when SA-1X outcome will be but the reason to be in them is to hold for results thats the risk.

Markusantonius,

can understand why you feel a bit cheesed off, England snatch defeat from the jaws of Vic....oh Ok a draw ;-(

Still at least it's not raining

Just to add to the doom & gloom, it's chuckin it down over where I am, Steveo! Anyway GOO down by 1/2p - maybe a shade more to fall as the week progresses....?

Some biggish buys at the end, or sells.

A VERY GOO DAY SO FAR FOR GOO!!!