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 Gold Oil 05-03-2007 + 8,050,000 55,800,000 12.7600
GOO Gold Oil 07-12-2006 + 5,438,182 50,000,000 11.6500
GOO Gold Oil 01-11-2006 + 6,300,000 44,561,818 10.7100
FGN Futuragene 13-09-2006 + 2,086,500 5,912,000 15.6700
GOO Gold Oil 06-09-2006 + 8,550,000 38,631,818 9.3700
MPM Minster Pharmaceuticals 15-08-2006 + - 50,616,700 3.2400
GOO Gold Oil 09-08-2006 + 4,081,818 30,081,818 7.6700
GOO Gold Oil 02-06-2006 + 7,250,000 26,000,000 6.9000
Mr p last buys

This keeps getting knocked by the CHP news.

not too surprising ..... but wish Mr P would let us into why he is so keen to hold so much of the company.

Tick up.

Just had a reply back, happy to keep holding:-


I am as frustrated as you are. We have been doing things, but in all cases we are awaiting government approvals. (We expect to get them, but there is a limit to how much you can push a civil servant before he turns negative).

We dont saying much until we have the approvals in the bag.

Our competitors, Petrolatina, Solanna and Chacos all drilled dry holes in Colombia which reflects on us somehow.

laurie squash
Cheers.

laurie squash, is that verbatim.
2517

Yes and others have had the same e. mail reply.

somethings happening
2517

Yeah it sures looks like it , come on GOO!

any one know why they are on the way up.?

dave7010
No idea nice bit of volume plus the 500k all good stuff looks like we have bounced of the bottom.

Maybe Government approval has been secured, see laurie squash post 3036.
2517

plenty of possibilities on the news front.

?.

still stupidly cheap imo.no ramp do your research.

Question is, has the falling knife hit the bottom?
Cheap if so. Not cheap if still further to fall.
Government approval would support the sp in the short term, but drilling news is the only thing, imo, that is going to get the sp moving back up to previous levels.

ITS COMING!!!!!!

some interest.

GOO Looking a bit healthier today.

still here , as i have been for the last 18 months.

Apparently "SOMETHING IS COMING" but we haven't been informed what yet!! :o)