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

i am very amateur in these things. however, as i perceive it, and i accept that charts in these spivvy (lol) companies are less acurate than for those built more solidly, both 50 and 200 day dma are likely to prove (strongish) resistance, not least because 50 dma pretty much coincides with 8p level which has proved stubborn in the past.

solid news of real discovery etc, as opposed to just promise or speculation, for both GOO and CHP (or even VOG) is less evident than even hens' let alone dragons' teeth!

These shares are a long play though so I don't pay too much attention to the 50. 50 only for me as a rule comes into play with day trades and theres nothing to be had here on the quick, its been and gone with the initial decline which I sold out on before it happened....

Sold news of a real discovery etc, now your talking, I'm in both GOO and CHP that you mention above. We take the risk getting in when light but hey thats where the real profit is and the risk... These shares aren't solid no, but there and again don't warrent big spend as to risky and don't pay a dividend!! All the same a punt on the pennies can fund a long term holding and a dividend in something alot more stable thats been estalished for a great longer.

All in all its the dividends in the big boys that ultimatly pay for the high risk punts in the companies like GOO. Go with your gut when investing here and expect a bumpy ride having to sell and buy back. Keeps it interesting anyway and stops you falling asleep, I bet your of the same sentiments anyway so enjoy the ups and downs and mey your gut lead you in the right direction because its sods law and there no such thing as an accurate prediction.....

anyone spotted goo's deal in media today?.

Hi cynic, whilst you use the charts, which in my opinion like yours are very useful, you have overlooked one small factor reguarding GOO. It is statistically inaccurate to compere differing values on the same chart. Yesterday as you know, GOO purchased a 24% approx share in MINMET. The SP for GOO has to now take this asset into consideration. In fairness, you have to treat all historical prices as that and start collating a new data base from yesterdays SP.

i'll believe you (of course!) ...... but not quite sure how this Minmet deal affects things ..... for the time being i'll use the charts as they stand, but thanks for the heads up.

in fact, i shall be neither a buyer not a seller, but merely continue to hold ..... at least until i get totally bored with them!

I just had to find out a bit more about these Bollinger Bands. I've added a link below that some might find interesting.

http://en.wikipedia.org/wiki/Bollinger_bands

Lizard good morning,not seen this for a long time heavy 0800 buying in goo,are we expecting news?

rumours of an oil find. just rumours AGAIN in express.

Something is definateley going on,looking good!

Lizard can you elaborate on the express commentry please?

rumours of find in colombia. dont forget though last time it was bolarks.

Thankyou,how can i forget!!!

in the meantime GPX plummets with report of a dud well ...... nothing that surpising for as i keep saying, commercial finds are about 1:4 if you are very good and lucky.

yes it could be a load of b, but then it may not, then you will miss the boat, if it is goo.but good luck to all.

dave .... i hold GOO and CHP but not GPX, though i used to about 9 months ago

I nearly jumped on GOO this morning until I noticed a strange movement in the spread that suggested the mm's were trying to lock people in, so I held off for now. After this the price started to fall. It might mean having to pay a little more if positive news, but then I would rather that than be stuck with another dead duck.

UK smallcap opening - Gold Oil moves up on talk of Columbia find
AFXU

LONDON (AFX) - Gold Oil moved up 1 to 8-3/4 amid talk of a big find in Columbia. No details yet available.

ah but talk of WHOM finding lots of oil in Colombia? ..... if Columbia, then wrong continent too!

That was a 'copy & paste' so obviously the journalist was having problems with his geography, but for those needing accuracy, for Columbia read 'Colombia'.
Of course he MAY have also got the wrong company as others are exploring there, but lets hope not!!!

Where does the Express get their rumours it wasn't even on the B/Boards like last time some one should give them a ring, I'm of out.