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

your call but id hold on for the med term at least if i were you. ive added under 10p.

not much in interims. but positive on nbm.enough funds to develop interests and further acquisitions without placing..

Lizard why the market marking this down it does not on the face of it appear to be bad news,bet the sp will be back @9 later today?

It started with capped and abandoned so no major surprise IMO will ease and good buying opportunity this afternoon!

I have just topped up at .082p

capetown - nothing new just normal mm reaction.again to XXI.

wonder if i have yet again allowed my greed to sucker me into buying a rubbish stock?
chairman's statement is typical load of vague hopes (promises, hahaha!) of jam in 2007 ..... believe it when you see it!

isnt that what most aim exploration companies are about xxi was always 50/50 one well doesnt spell the end. i bought for z34 so will hold.

As laurie says no major surprise GOO is still a long term hold for me and top up's on the way.

no prob with a dud well; odds of any new well coming up with the goods are >30% ..... just a bit cross with myself .... certainly won't top up; will probably just stick in the bottom drawer with the rest of the dirty washing

cynic -1 in 3 id say more like 1 in 6. globally.

i was being generous! ..... i actually thought it was about 25%, though i dare say in an unproven area, your 16% may be more realistic

worth remembering though the area is producing oil or gas or both. so id be surprised if xxi offers nothing. they found hydrocarbons a good sign.

as i said, will stick these in the bootm drawer with the dirty washing - lol!

Even down to the cost of the new well was included in the abandonment RNS so I see no surprises. But they could have sold the now producing part better.
I suspect another RNS soon giving further increase in production but could have been part of the Interim.
Website is also due for updating this month.

Yikes! Just woken up to a red screen which is not what I really expected this morning. Now I wonder where the new support level will be once all the dust has settled?

don't fret over 1 day of red, look at 12 months picture instead

approx 300 trading days a year, so reckon on 130 red days, 100 blue days and 70 no change (lol) ...... only thing that actually matters is whether sp rises more than it falls!

Je suis still dans le bleu on GOO atm - just contemplating timescales to achieve my personal target, that's all...

my personal target is between the ears .... so i can shoot myself ! ... lol