Gold Oil has just been floated on Aim and is involved in the exploration for oil in the Americas. The company has just signed an agreement with PetroPeru for exploration in the north of the country and also they have signed a memorandum of understanding with MAN Ferrostaal of Essen, Germany for the evaluation and feasibility study for a more than 200 mln stg petrochemical plant to be constructed in northern Peru.

Following the release of this news AFX commented that brokers believe this could potentially be huge for Gold Oil.

From another board a reply from an email from GOO

Reply from Gary Moore re my email requesting clarification of the term of the Evaluation agreement on the offshore Talara block -


"Thank you for your e-mail and pointing out the error. The licence expires in May 2006, but has been extended to June 2006 as Perupetro was somewhat slow in getting us the information we required to start the work. We are currently talking to potential farminees about the blocks, but unless we become overloaded elsewhere we may just retain the licence 100% ourselves.
Regards
Gary"

And another.

'sorry for the delay in responding, but I have been busy. Z34 is a promotion agreement that expires in May 2006 (extended to June 2006). We are talking to other players about farming it out, but we are reluctant as it is attractive. Our priority is an exploration well on Block XXI'.

Regards
Gary

Its looking good things are progressing well.

i'm in. had two to invest in just hoped i bagged the right one. [fao was the other one]

robertalexander
FAO is down 6.8% that should cheer you up.

roberta- alexander i looked at fao yest looks like they have potential but a lot of baggage on the way- seems like big placing necessary. i like goo new company with encouraging potential.

about time- this should progress nicley when peru ministry of energy gives goo the go ahead soon.

bought a few goo at 7p had these before for a small profit,but they were just out then sounds like its more than just talk now.

cellby
Welcome aboard it must have been your purchase ticking up nicely now.

GOOoood up 11.54% as we speak !

8p high should break it on positive news- which i suppose could come at anytime!.

i hear it'll go to double figures from about 3pm

fernandes, are you talking this one up by chance. or do you know something we don't? either way more money for me!

Hope you're right Fernandez !

1.75 million buy.

some big trades 1.75m buy 400k buy. think the reason for initial price drop.

3pm and double figures were a bit optimistic - shouldn't be long though

5.3 million buys v 1.4 million sells, price should take off soon!

Another nice price rise this morning.

confirmation of approval from peru ministry of energy will imo put more life into this. we were at 8p last year and now closer to drilling.

I see that trades hit a high of 7.75p earlier and 7.5p at the moment, and about 5.6million bought yesterday, yes it's looking good!

i wonder what the chairman has in mind in regard to further acquisitions mentioned in last statement?>