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

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!!!

Something cooking ?

OIL ??

I feel a very good new year coming on

Hopefully goo shareholders can have cheap petrol,got a really good gut feeling today!!

I'm saying nowt---see 2428, after that post the sp retreated.
2517

GEORGE

See what you mean,well that will teach me!!,exiting while it lasted!!!

not sure what to make of all this recent weakness ...... nothing has really changed except no news and many (self included) have been diving into SOLA ..... will be interesting to see if Mr P starts to mop up stock, or becomes a seller ..... better hope not the latter!

just topped up @11.40 showing as a sell

CYNIC well done on SOLA

CT ..... will believe that as and when i physically bank another profit .... lol!

E. mail today if it of interest to anyone!

We try to update the website monthly with information that is not price sensitive (otherwise the Nomad goes ballistic). I have not had a chance this month as I am in Colombia, but am back in the office on Thursday, so the website should be updated on the Friday. As for price sensitive information we have to put out a press release.
Regards
Gary

Capetown 11.40 or 11.60?

Is Gary the only one able to update their website then.
2517

Laurie

Just double checked

40k @11.60

At 11.60 it showed as a sell.

Updating is easy knowing what information is allowed and having it approved by the board to meet AIM rules is another matter.