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

laurie squash----see post 2466 mcgrath1958 is correct, it would have been a sell.
2517

Thanks George , it isn't rocket sicence to scroll down and check like i said!

Sorry mcgrath missed the post!

My guess is someone has a sell order of approx 10mil shares.

That's ok Laurie , although that 3.3 mill later was a Buy , so that's confidence!

could it be Mr P increasing. it dropped last time he bought more millions?.

If thats the case somenoe els has sold a fell few mil.

it was a buy look at the time 2.4m spread 10.75 - 11.00 paid 11p.

That may be the case but @ moment even when there are 500,000 buys the share price does nothing, & when 150,000 - 200,000 sell comes in the price drops that tells me there is a big sell order to fill.

Got to agree!

Lots of Buys at end , believe MM's have had a violent tree shake today to grab shares. Two many buys for my liking to justify bad news on the Horizon IMHO!

particularly high volume ...... chart is very uninspiring ....... would not be a buyer at this level, though i currently hold ...... fully expect to find that Mr P has dumped a slab of his holding

It could be that Credit Agricole Cheuvreux have reduced there holding & Bought SOLA instead! Im sure we will find out in the next 48 hours.

Time will tell Gents , believe their will be a nice bounce in SP tomorrow and those who got in at 10.5 will be well rewarded once test results flow from Peru!

I cannot stand people who say: "I told you so.....!". But..... OK sorry, guys, I couldn't resist.

McGrath, why do you think there will be a bounce back tomorrow? Perhaps you mean a "dead cat bounce" instead? Not deramping. Just think there is more to the slide than first meets the eye. Standing neutral, I think there was a big sell off today by a single holder. Apologises for sounding negative but tend to lean towards Cynic's viewpoint here.

I did plan on re-entering at around 10p but now I'm not so sure. Capetown, I will e-mail you later.

Lizard, ref. your post: 2441 - I think the last 48 hours have been more than the "odd tick down", don't you agree?

just a slightly different angle ...... let's just assume Mr P is the large seller ..... as far as i can determine, he is basically a big time professional gambler ..... that he bought into GOO is a matter of record, though i would suspect via CFDs or similar rather than hard stock ....... if he has got bored waiting for news, as have we all to a greater or lesser extent, it would not be at all surprising to see him moving his funds elswhere ...... that does not necessarily mean that GOO is worth fundamentally any more than when Mr P started putting his money in ,or conversely, any less if he is now taking it out.

Very good post, Cynic.

such praise ... lol! ..... btw, what has gone wrong with the golf thread?

Thats me now back in as my limit buy got triggered!!