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

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?

is this a dog? thought about buying but looks like its a dud

jb- awaiting next drill programme for XXI and workovers programme on NBM. i would hope asap if they think SA-1X logging had anything?.

So when is "asap" then, Lizard? The co. needs updates to retain investor interest.

maestro ..... on the positive side, Mr P acquired a further 10m shares the other day, though be aware that he is an individual and not a company ..... on the negative side, it is very suspicious indeed that someone managed to dump about 20m shares the day before the announcement on the dud well ..... imo, if there is any rally (up 1p today) there could be some more sellers, so i feel there is no hurry to dive in (if at all)

it was about 6m.

e. mail this morning in reply to some blunt questions (yes genuine) -
The Nomad had both press releases and put the good one out first (not our decision). The Z34 press release had to go out as Perupetro called the board meeting a day earlier than we knew so we had to release with 48 hours. Staff and directors are barred from dealing in the shares as we are in a closed period until January.
The large trades were investigated and cleared as nothing to do with press release timing.
Regards
Gary

"The large trades were investigated and cleared as nothing to do with press release timing" .............. would you expect any other answer?

I can only print what they give me!

was not a swipe at you laurie

Standard stock answer, of course! But at least the co., as a whole, appears to have acted correctly.

Just wondering what the next RNS's are likey to be - and when exactly??

Good question & the answer is critical, imo, in determining which way the sp will go in the short term.
I think the only news which we are currently waiting for, is the progress at the San Alberto-1X well in block XX1. The last report from this site was 7th Dec & stated that they were having problems. Unfortunately the phrase "'a good quantity of high quality and useful technical data which was a prerequisite to a proper understanding of the block and the whole region" did not inspire confidence.
Once they have analysed this data, we should presumably get a statement, but it may not be what we want to hear.

have you read the rns SA-1x served its purpose as an exploration well. they need to drill again. they would have found out now about the geology/ structure of block.

imo they wont tell us anything on XXI and the results they have. they will look at the situation and look to drill next wildcat when they thought about next stage and way attack it. in the meantime NBM workovers need to get going. Burdine oil field has proven commercial in past so increase bopd and therefore cashflow. another acquisition in another country would be good.

XXI is 30yr license so no rush. need to think and hopefully get it right next time.
NBM crucial and hope they go for more of this type of deal. low risk to back up the high risk (potentially high reward) main plays of XXI Z34 etc.

dont get me wrong i would like to know what potential XXI has, but the way goo operate i would say they will keep tight lipped as usual like Z34 potential etc- not a company that gives figures without any real evidence.

Harry, agree with your sentiments, above, except to say that Mr. P's large buying/holding does give me extra confidence. He (and presumaby his advisors?) obviously consider GOO to be a sound investment. So, in this case, right now, I think literally: "No news is (hopefully....?) good news!".

It depends on your investment strategy.
If you are looking for short term exposure & a quick, modest profit, then the outlook is not great, imo. If you are investing in GOO for the long term (assume Mr. P. is doing that) then the outlook is considerably brighter as we know that they are drilling in an area with proven oil reserves.
But, if I was in GOO for the long term only, I would not be watching these discussion boards as I think they distort the big picture.