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

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

.

bought some more,very cheap butnot in 4 months,

Website back - no new updates!

There you go H CAT, lizard's post. I have put the map on the research page under COLOMBIA.

Been looking into this Orito oil field in the Putumayo basin Colombia. Gold's NBM is the nearest producing oil field to this (there are many in Putumayo). Although Orito looks to scale about 4x size of total of NBM 3 oil fields. the reserves on Orito are 250MMbbl and like NBM Texaco used to own this (now?). NBM is located about 25km to the east of Orito.


map of Putumayo Basin oil fields
*************************************

http://www.chacoplc.com/colo_pres_1006/8.html

you will note the scale of Orito at 250MMbbl. a similar scale field to just Nancy is Hormiga oil field (south of NBM on map again about 25km distance from goo acreage) with reserves of 24MMbbl .(then you have Burdine Maxine on top of that).

http://www.chacoplc.com/colo_pres_1006/8.html

you will note the scale of Orito at 250MMbbl. a similar scale field to just Nancy is Hormiga oil field (south of NBM on map again about 25km distance from goo acreage) with reserves of 24MMbbl .(then you have Burdine Maxine on top of that).

http://www.solanaresources.com/investors/presentations/0602-solana-investor-update.pdf

page 15.

think the Nancy Burdine Maxine oil fields could be underplayed at 12MMbbl.

cheers driver its good stuff. didnt realise Nancy had another existing well to workover (2) and the scale of production on neighbouring blocks. shame goo dont have rights to Orito 250MMbbl (located next to NBM -huge in comparison) but NBM could have more exploration upside over 12MMbbl as estimated.

driver- Mr P has 50m shares now in header.

lizard
Cheers research page updated.

Significant Shareholders:

Pershing Keen Noms Ltd 62,655,000 15.98%
Mark Pritchard 42,750,000 10.90%
Mr Iraj Parvizi 50,000,000 11.65%
Billy Underwood Jr 21,587,444 6.25%
John Gary Moore 20,000,000 5.79%
Ben Anderson 22,500,000 6.5100%
Stock Lending Collateral Noms 16,550,000 4.22%
Man Financial Ltd 25,340,167 6.07%
Michael Norman Burchell 5,000,000 1.275%
Patrick Gerald Mahony 575,000 0.147%
Credit Agricole Cheuvreux International Limited 16,307,200 3.8%

we know mr parvizi and mr pritchard are city chums so will he follow to 50m?. is it a case of my holdings bigger than your holding.

thers a few big buys is ther some good news comeing out.?

website confirms Nancy1 around average of 700bopd in dec. good stuff its maintained the 50% increase from oct to nov now into dec with another workover on the field due to start.

Made the decision to hold last week so pressure off me to close now. Still in the blue here and hoping for a sustained tick up, day by day. Personal target: 12p, then I'm out.

well thats a 50% increase not bad at all. but think you will get more if you have a longer term view.

I agree with you Lizard. I am holding at an average of 10p. Will be more than happy to see 12p and will look to still hold long term, only taking small profits if I am lucky. Patience may be required but good luck to all GOO holders.

He who waits wins !

or loses his shirt as at SEO!

not always fliper but warren buffet aint done bad with that view.

but bet WB does not buy out-and-out spec (spiv!) shares