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

HARRYCAT you are correct, it does not say whether the warrants exercised were at 1p or 9p or some other figure, if they were at 1p it is possible the directors, God bless them, may be looking to offload the shares @ around current values before GOO capitulates. All IMO of course.
2517

love it.

Website updates dated 13th April.

yep options available it seems.

Having read the updates, my interpretation is as follows:
Spain : No plans to expand.
Peru : San Alberto XXI - tenders out for the next phase of work, but still in testing phase.
: Z34 - Tenders being obtained for environmental impact assessment. Seismic surveys to be completed by the end of 2008.
Colombia : Nancy - Bordine - Producing 513 bopd. Possibly seeking to take over other struggling (in debt) neighbours. New block application being approved.
In summary, although there is not any bad news, the good news is pretty thin & I cannot see a reason for a rise in the sp any time soon.

HARRYCAT
May be this is the time to accumulate, is this the bottom? Use it to your advantage as with ser I was buying at 4.8 now 8p+.

hc- if you know about goo you would not even bother to top your list with Spain.

Enlighten me lizard.

the only reason they bought into this license was to gain operator status to be able to commence operations in s america.

dont think they give a **** about spain.

Up to a point you are right, but the Ayoluengo field is actually producing so it is a small cash producer.
I notice you didn't disagree with the summaries of the other more important exploration areas! So I take it you agree that there is very little in the way of good news to come from GOO in the next few months, or longer?
It also seems a little curious that the Directors exercised their warrants at this particular time & does suggest to me that there is more downside to come.
I do hold this stock, but I believe in being realistic.

warrants exercised = buying shares (they may dump they may hold?).
usually exercised in a quiet trading period (as we are). warrants are harder to place in a busy mkt.


the updates you gave are on website by the company.

you may not be expecting news short term but i am.

its all there on website we are waiting on updates in a few areas.

Just nudged below 6p, which is historically a resistance level, but news of some kind would be good. Am tempted to top up sub 6p, but am already a bit overweight with this stock.
Does anyone know exactly what imminent news we are waiting for, 'cos I can't see anything on their website to suggest news soon?

why would you want to top up? ...... if you bought sufficient to start with, it would appear that you are just trying to catch the falling knife ...... perhaps a better question would be to ask yourself whether you want to continue holding at all, and if so, why.

cynic
"continue holding" because GOO is an oil producer with more to come if anyone thinks it has bottomed then top up or average down nothing wrong with that.

I see no reason to cash in at a loss at the moment. I still think that GOO will produce results in Peru, but it may be further off than I had hoped.
Added to that, the fact that Mr. Parvisi is still holding, gives a little bit of confidence. Of course, if he starts offloading his stock then it's too late anyway!
I take the point of not trying to catch a falling knife, so reason prevails & I will wait for the upturn.

driver .... i merely asked the question! ..... i continue to hold, though with misgivings, in the hope that Mr P has much more positive knowledge and info than you or I

parvizi didnt offload @ 17p he has been buying all the way back down- for whatever reason?.

lizard
Could it be his mad, hope not!!!

Maybe Mr Parvisi is simply cleaning his coke money in GOO, who knows!!

driver- who knows but worth a look down here imo!.