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

(( Re: OXS - Pourquoi? The 12-month graph shows a 60% decline = not exactly inspiring, Maestro, is it? ))

markus .... concentrate on your swing and putting .... far more profitable than paying any attention to maestro's inane ramblings

i think maestro will be more regretful not buying goo at these levels!.

merely in an attempt to rationalise anyone's reason to buy at these levels, the chart below shows some sort of support/resistance about here ...... the real question is whether or not the company is worth putting money into anyway - e.g. should one set any store by Mr P and his large stake?

breaking 8p in the past took many attempts. since these levels goo now have production in Colombia/ agreed to the 2nd phase to increase production and Z34 30yr license.
imo the 8p will be support now where it was strong resistance in the past. BUY.

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You sound very confident, Lizard. But can't see much happening over the Christmas period?

Yikes, down a tad already this morning! Not good.

why would you expect otherwise? ...... no news imminent as far as i know, so no reason to go up, and at best, inertia and general boredom will bring sellers

markus- im liking the NBM deal more now with 50% production increase last month on Nancy further upside on this well and a post on advfn about Burdine Maxine past commercial flows. very encouraging. looking for workovers to commence asap. production 4000bopd would be excellent for goo.

looking for a couple more farm-in deals in Colombia and/or Brazil in new year. dont expect any rush on XXI.

8p bargain. this was achieved last year without production and 30yr Z34 license so imo goo offers excellent value here for the short term medium term and long term.

i have 12 stocks in this sector on my watchlist 11 red today so its a sector thing at the moment. strange as oil pushing up. the non producers imo should be lower chp etc having double the mkt cap of goo. big potential as goo has but f all cash flow/ production.

((Off topic: looks like Maestro's Oxus tip was right!!))

GOO - we some news sooner rather than later, chaps, I think? Jan./Feb. maybe?

feb/march, could be up to 20p

with the NBM workovers being successful then possibly and Z34 license from Ministry also i would expect another farm-in colombia and/or brazil in addition to the exploration license applied for on the 20th sept with anh colombia. expect this in Q1. XXI next wildcat possibly Q2.

could get interesting figures for NBM- target has to be around 4000bopd.

Some decent buying at 8p and still no blue.

Come on goo lets have some BLUE

there you go not much im expecting a return through 10p. with the increased production from the Burdine workovers not far off.

How far off do you think this will be in coming, Lizard?

markus- post on advfn saying Burdine technical work has been going on for some months (gm). so im looking for workovers to commence in new year or perhaps they have started?. this field produced 3000bopd in the past so hopefully increase production asap. looking at Nancy to hit 1000bopd in dec or jan. Nancy has produced 1400bopd (when texaco owned it).

moore is also looking at farm -in deals in brazil new year so?.

merry christmas to all holders. still have a long term view on goo- its going to be volatile.as the graph suggests. think these levels are a good entry point/ add level.

OK, thanks for the informative post, Lizard. Just a tad strange to see 9:1 buys:sells today yet only a small rise? Well, the new year is nearly upon us so we'll see what transpires soon enough, eh?