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

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

If the shares are going to hit 20p this year , whats the problem , them poor mm have got to make a living !

I hope you are right fliper, but are they?
2517

how long is a piece of string. but gold have the potential to achieve this in 07 with existing licenses and i would guess a few more to add in the year.

A bounce back tomorrow morning perhaps?

maybe flat for a while. believe its oversold but sentiment is low atm. a positive rns would help but not a bad entry level imo.

Down a touch today. Cannot seeing going much lower (famous last words!) so next RNS will be crucial, I think?

yes. its a bit dull here. but then again the sector is **** at the moment. looking for progress in Q1.

1. XXI strategy in place
2. Z34 Ministry approval
3. Burdine Workovers - increased av.bopd
4. Nancy flow rates up
5. Farm-in deal Colombia/ Brazil
6. Exploration license Colombia (applied for 20/09/06)
7. Spain Ayo oil field development

there is also more blocks available to tender for (PP website) now the last rns states goo still interested at more acreage in Peru. so keep an eye.

Buyer in the background this will finish green or in the blue today IMO. Dropped from red 0.25p to 0.5p for price for the buyer.

couild do with Mr P offering 25p for the balance .... fat chance!

ls- cant see that today. not a bad buy level though. just keeping an eye on newflow now the trading is **"!!**** at the moment. off another 20% on news we already knew in the mkt.

do not be surprised .... Dow is down a further 100; oil price is weak; general feeling that US will not lower interest rates so $ significantly stronger ...... Dow could fall a further 150 points and still maintain its upward chart

dow has been trading at historic record levels recently unlike our mkt.