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

they will!.

mcgrath1958

"Explorer Gold Oil finally revealed the results of its first well in Peru. The well was a gusher all right but it gushed water, not oil. Having sold enough shares at 13p the previous month to leave the rest in for free, I was not unduly upset. The shares have picked up from their lows and the company will fight another day."

Note he says he 'SOLD' enough shares at 13p. He is now trading on free shares so is not worried about the drop. Neither would I be that worried.
Good luck all {small holding}GOOers.

perhaps he should buy more!.

An interesting post from the other side courtesy of omrothwell

Hi guys, I don't post too much these days, as along with most other folk, I feel that everything that needed to be said has been said, and its a bit boring and repetitive saying the same old stuff every day. I also find that no matter how often you say it, there is always someone else comes along the very next day and asks the same old questions. So I am taking a bit of a back seat at the moment, but still here, and still just as confident that we will drill again, and that when we do, there will be a far better chance of it coming good than last time, with all the info we have gleaned from San Alberto.

But having declared my firm optimism for the company and for our chances of becoming very rich, I must also concede that the lack of big activity may indeed have an effect on the sp in the meantime, and I believe that it may yet drift a bit more, rise a bit, drift a bit, until the action starts again at block XX1. Although we can expect news on several fronts, including work plan on Burdine, finalisation of Z34, a possible new opportunity in Colombia and maybe Peru too, and news even from Spain, I don't feel these will be life-changing occurrences. The market knows that Z34 is all but ours, and is just a rubber-stamp job, and if we look back to when XX1 got rubber stamped, we didn't exactly multi-bag. The same can be said of any new farm-ins we may get. Ok, it may twitch a little, but the real earth-movers will be drill related, and this could be 6 months away, possibly more or less. Then we will see a repeat of last time, and if the end result is what I hope it will be, then the sp won't stop at 18p, but carry on until we see the size of the field reflected in the price. (blue sky).

As regards when is the best time to buy, I have often noticed that many people miss out on a lot of the potential, and wait until things start to move before buying. I can understand that, for many folk like to be reassured that they are doing the right thing, and the fact that others are buying too, does give a little reassurance. But if you wait for this to happen, you often find that you pay considerably more when you do get in. If you have done your research, and if you feel that the company does indeed have a good chance of striking oil, and if you have some cash which you can invest and LEAVE in the share for a little while without being stretched to pay your mortgage, then the best time to buy is when the sp is on the floor. For the first few years of my investing life, I used to enjoy the comfort of others buying, to make me feel good, but when you realise that your gains could be double what they turn out to be, then you may consider, like I did, that you bought in too late. In the latter years of my investing years, I have taken the view that if I consider the share is worth investing in, then I buy in when I feel the sp is on the floor, (like we are now), and just sit on it.

A friend of mine here in Falmouth, (not on advfn) was researching GOO at the same time as I was, and we talked a lot about it, comparing notes. (He is actually a financial consultant). I bought in at 6p, my friend preferring to wait a while, see what happens, and maybe when it started to rise, he would be confident in his own research. When he saw it start to go, he tried to get in quick, before he got left behind. He bought in at a fraction under 10p. We each bought 100,000 shares. Today, I am still showing 2,000 profit, whilst he is showing a 2,000 loss. (a 4,000 difference). I am more than comfortable with my holding today, whilst he is just a little uncomfortable. he knows too, that it will come good, but it will take a little longer for him to feel easier about it.

So if you have researched this share, and if you share our opinions that there is a pretty good chance of finding oil, then the next couple of weeks may represent the best chance you will have of getting into GOO whilst it is at its lowest point. The possible downside is very limited at this price, with Nancy pumping, and Burdine about to be re-entered with 3 wells, so I honestly don't think there is a lot of risk to your investment, but maximum upside if we are indeed "on the floor". How long will we stay on the floor? I don't know. Maybe a couple of weeks? Who can tell? and more importantly, who wants to take the risk of missing the floor?

Regards to all, omr

Hi driver, makes good sence to me, but the question is are we on the floor yet? If we can expect a few months of price drifting then there may be opportunities of getting in at less than current SP. That said, if you don't go in and the price rises then you may miss the boat. I think that on this one, you have to make up your own mind at what level you want to go in, then do it at the first opportunity and sit on it for a while. Good luck to all holders, at the moment I don't hold but will be in if the price drops below 7p.

oilyrag
I agree for holders the best you can do is top up on the dips if any, that is the positive way to use the low sp at the moment as long as your topping up the lower the better.

for holders, the best you can do is hang on .... topping up on a continually falling price has very questionable logic

well i was prepared to. 60% off from recent highs and oversold imo.

GOO website is down hopefully being updated!

so are the shares!

interesting post (15702) from penbury on advfn.

Any chance you can post the gist of it here, lizard? (Am not registered with ADVFN)

Why all these references to ADVFN? If it's worth posting, then why not just copy & paste here instead of cryptic clues and irritating hints on here instead?...!

because its information related to gold oil. if your not interested then dont bother looking.

So, if I might suggest: Why not just post the bullet points here instead then?

GOO site is still down for me can someone else see if it is denied?

Yes its slill down laurie.

Goldoilplc site is currently down.

Nothing sinister I hope.
2517

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