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.

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?>

lizard
I think moneyman has gone from this thread, I am doing the ert and mdy thread so do you or some one else fancy doing a new thread for Goo we need the chart and the Web link for GOO and a more up to date header that can be taken from their Web Site, or you could you this or a bit of both.

"This is the extract from the recent Times article: "
I have bought shares in a tiny oil and gas exploration business, Gold Oil, which has two big exploration areas onshore and off the northwest coast of Peru.
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 Oils block. Dont ask me to explain the geology because I dont speak Palaeozoic. But a decent oil find here would be a company-maker.
Oil has enough cash to fund this years 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.

driver- all yours to develop. i think you are right. have seen the sunday times article few weeks back but certainly need more info on this site for new investors if want to look at.

lizard
As I said above.
I am doing the ert and mdy thread so do you or some one else fancy doing a new thread for Goo