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

Oil Down And Out Not Likely

http://www.fatprophets.co.uk/content.aspx?page=OIL%2c+Fat+167

thanks for the pointer Driver ...... a well thought out article, with which i would pretty much concur ...... to my mind, that makes the quality second-liners - e.g. TLW, DNX, BUR - good investments as for sure a number of them will be gobbled up.

the outlook for E&P companies is much more opaque ...... for sure one or two will hit the jackpot, but the nature of these things (like Goldrush prospectors in Alaska etc) is that the vast majority will come away with nothing.

How GOO will fare, along with the likes of CHP, ELP (yuk!), SEY, VOG and the myriad of others of similar (lack of) quality, is very much in the lap of the gods.

A very informative link, Driver, and yes, the whole world needs oil - and (will continue to need) lots of it as the years roll by! But will GOO be the company to find this scarse resource, that is the question...?

dont think there is much question of that in regard to NBM. but its the bigger plays of XXI, Z34, perhaps new Colombia exploration license that really count (could potentially make the company) .

question on NBM is how much it can produce bopd on re entering existing wells and what is the exploration (reserves) upside potential?.

Whos playing ducks & dracks up 1 min down the next trying to get a bargin & not get there fingers burnt they will try it once topo often and finish up getting there
fingers burnt.

Gee, PARKIN. Let's hope GOO's ability to find oil & the traders' abilities to offer reasonable prices are better than your ability to write comprehensible english!!!

Never mind the spelling.

Rogers Says Oil Will Rise to $100 After `Correction' (Update6)

http://www.bloomberg.co.uk/apps/news?pid=20601109&sid=azQIiqfEPt8g&refer=home

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Yikes... down again! Not good. :o(

markusantonius----hey I saw that ha!ha!, I'm glad I'm not the only one who makes a comment/view on a share and then finds that share doing the opposite to what I think.
2517

frustrating but holding on. absolutely no question.

A brave man might buy now and forget untill summer .

brave or wise?.

lizard i am still in there the same as you with quite a large holding of shares. I can understand that there must be quite a few holders of this share getting bored now now. It may be a good idea if you could email gary moore and see if you can get any feedback on when the next news may be due or any feedback at all. I wish all the very best of luck who are still holding. I would only ask you to send an email because you have been in touch with him before, and he normally returns a reply quite quickly.

Couldn't resist the chance to lower my average break even today.
Fingers crossed the other two this week have both jumped 15% so hope this one copies.

STILL holding and will continue to hold

as far as im aware from the other thread gold waiting on licenses to proceed. Burdine workovers (waiting on environmental license ecopetrol). exploration license colombia (waiting on approval or not from anh colombia).Z34 ministry approval. farm-in deals waiting on developments. XXI waiting on report and next stage planning.
so no point contacting him imo (out of his hands). any of the above could come in jan feb march or?.

Likewise, I'm still in profit (just) but was on double my money a couple of months ago (dipstick). I don't think I'll ever learn. G and F again.
2517

2517- would'nt be too harsh parvizi's got 50m and would have been sitting on a massive profit (@17.5p) didnt sell one share. a good sign perhaps ?. he has been building his stake after recent falls.