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 understand their logic by trying new technloogy rather than burning up there cash pile! Although obviously still risky but less than previously all IMO.

interesting that they have retained 100% interest in XXI and have not as it appears farmed out the license.

A bit of blue.

A few days old but wasn't posted on here.

Gold Oil/SETS

Controversy over trading small-cap stocks on the London Stock Exchange's electronic platform, SETS, is a topic that has cropped up on Small Talk several times. As far as most market makers are concerned, there just isn't enough liquidity in smaller stocks to make SETS work efficiently and the downside to trading on SETS far outweighs the benefits.

The irony is that SETS was supposed to increase transparency but instead the ability to trade anonymously means that market makers often have no idea who they are trading with. As one market maker commented: "The only group SETS helps is the bandits."

So perhaps it should come as no surprise to hear that Gold Oil, the exploration and production group, is to become the latest company to request that the LSE remove its shares from SETS and return them to a quote-driven, competing market making system. The word among the small caps is that Gold Oil will not be the last to request to be dropped from SETS. It is not just a question of liquidity and volatility - having a traditional market maker trading system can offer a greater degree of control over trading than SETS offers, particularly in providing stability in new issues.

Gold Oil has always been a volatile stock but since switching to SETS the daily volume has fallen by about a third. There has also been a sharp increase in the volume of Contracts for Difference, and SETS can play into the hands of traders seeking to manipulate share prices in smaller stocks. Gold Oil confirmed to Small Talk that shareholders and market makers have complained to the company over SETS and that it has made a request to the exchange via its nominated adviser, Beaumont Cornish, to be removed from the platform. Expect others to follow.

come on goo lets see the licenses you want.

650k WT trade buy at the end.

what is a WT buy?

Worked Principle trade.

sorry to sound dumb but what is it - who buys it - i suppose i'm trying to figure out if it was a good buy as the sp went down at the end of the day

WT trade.
At the price it was delt it was a good buy.

A term used by the London Stock Exchange to denote that a reported trade was from a worked principle agreement for a single security

thanks driver - next week could be good - more news i expect as no web site up date

its COMING its COMING!!!!-

HOLD TIGHT GOO'ERS!

I seem to remember someone else said that on the 24th April (#3047)!!! Sadly nothing happened.
Still, I suppose if you keep saying it, eventually something must happen.

A nice buy at last knockings!

Big Bucks.

something brewing?.

They have shortened spread and pushed sell price up. Do they have a buyer they are trying to secure shares for? Or am I just getting carried away at the sign of some improvement?

could be a bit of both wf. a buyer and news sniffing around.

Another tick up!

are thay pushing the price up.