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

Big Al,

Fair comment, I'm just being lazy, will do my own research, daft not to know more about the subject, knowledge is power apparently.

Markus,

its all about timing and cash flow, pity not oil flow, but as stated above long term looks good, lets hope management have some more thought for investors in there delivery of news next time.

Agreed, Steveo.

Not a lot of movement so far . Lots got out at 7.5p , in haste ?

maybe not

Sell of 2.6 million shares at 11.39 today & then another sell of 1.8 m at 12.39.
Any idea why these should have gone through exactly an hour apart?
Am watching to see if another lot go through at 13.39.

"Just the 2 big trades went through".

Well, what was your verdict, Harry?

GOLD OIL PLC ('Gold Oil' or the 'Company')

Shareholding
Just seen this...

The Company were informed on 7 December 2006 of the following:


that at 7 December 2006, Mr I Parvizi purchased 3,464,882 ordinary shares in
Gold Oil and accordingly now has an interest in 50,000,000 of these shares,
representing 11.65% of the Company's issued share capital.

He purchased them yesterday. at 1609hrs averaging down.

He knows there a good long term bet .

someones confident 50,000,000.

Hope you are all right on this. I overslept this morning and missed all today's red action!

So if Mr P and Credit are buying who was the mystery seller. Or did someone get it right that it was the warrants?

last time we had this big drop a few months ago I panicked and sold my complete holdings at .85p took a massive loss. The big drop was a bad drilling report like this one. A few days later the price was back up to .14p. So you never know this may just happen again. I am sitting tight with my shares this time. Tuck them away for the future, you may have a nice little nest egg to sit on. The company needs to invest in some more up market tools and better machinery by the sounds of the drilling report. A lot of people got nervous yesterday, as I did myself a few months ago. been ther done that. Now the time just to sit back and wait. Good look all. I am still on a massive loss. This company needs to start making more progress and achieving some better results.

I will get in if it goes below 5p.

Yes , mr p will buy a few mil as well .

From one extreame to another, share now looking over sold..... Only returned to GOO with my original stake and have my 50% profit still tucked away. Mind you following the law of averages this is more like 30% now but am enjoying the ride...

5p a share I see above, all I can say is if we get to 5p a share I'll most likely quadruple my holding.

A bad week for goo . I think this week will see it go down to 6p or fight back to 10p. Anyway mr p has 50mil so he thinks they are a good long term bet . I wonder what the sp will be in 12 months time ?

Don't know, don't care, Fliper! Expect to be well out of GOO by then (hopefully having recouped a ew lo$t $kwido$?)!

at the very least i'm holding for 1st, 2nd and maybe 3rd drill on Z34.

lizard when do you think the next drilling report will be out?