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

When positive news flows from this company again, the share price will move, hopefully asquickly as the oil will flow. Good value at 7.75p

even better at 6p

Looking at the chart its possible to trade this not that I have, down 6% then up 6% still holding and will add if it goes below the 7p

From other side shows GOO first in line for Z34 license for ministry approval.
http://www.perupetro.com.pe/negociaciones02-e.asp

good good.

Youre still with us then, I thought you had defected to CHP or have you got both like myself.

And 'SEO'

PATISEAR
I'm still holding SEO till it biodegrades.

not in seo. but may add more chp next week.

will hold goo med long.

Hoping that 730K is a buy!

Looks likely! IMO.

have left these alone on the fall from selling @17pish, decided to buy more this week @7.25p, have never paid more than 8p for them, and have been treated well by this company, lets hope some positive news is just around the corner...

I know we have all heard it before but patience will win through with this one, nice 750k buy someone agrees.

mysterious 730,000 at 7.25p, Any comments?

well nothing more than you'll wish you had next time its 12p....
buy when no news sell on news...

10th and still no update on the website. Considering how poor the last update information was you would hope this time might actually be beneficial.

poster on rival board has pointed out Z34 is next in line for approval by Perupetro (sorry haven't got link). work schedule for next workovers in colombia should be near finalised aswell so hoping for a double whammy rns by month end imo.

Thelung,i do so hope so,thx for that post

cant rule out farmins/ farmouts / exploration license into that equation the lung.

I was one of those that topped up after the last RNS,followed by the second one minutes later,so holding