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

UK smallcap opening - Gold Oil gains on Cuban exploration approval
LONDON (Thomson Financial) - Early gains were recorded in Gold Oil, up 0.77 to 7.20, after it said it has secured approval from the Cuban National Office of Mineral Resources to explore for oil and gas both onshore and in the territorial waters offshore Cuba.

The company added that it has started negotiations with Cubapetroleo, the state oil company of Cuba, for a production sharing contract over a number of targeted blocks identified by it and its partner Minmet PLC.

driver .... perhaps or even probably should i live so long

WHY is the S.P. all over the place.

Looks like a classic breakout of downward trend has been broken, with good volume to back up.

Cos it's a SetsMM stock; it's being driven by orders on the book, as they get filled, pulled or new orders are placed, the bid / offer moves to the next order or reflects the latest 'new' order.

PT,thanks ,does not to much to instill confidence.

a fair bit in the media today. looks as though Mr P increased again.

lizard .... tell more .... am in france so no UK papers etc, but saw no rns re Mr P increasing his stake yet again ...... confess he alone is my "bad logic" for staying in, even though stake was only ever 40% of norm and is now barely 30% by value

he now holds in nominee so we may not get to know. up to 17% acc to d mail. will try and post. talk about Cuba and Z34 news?.

mentioned also in Times reg Cuba deal.

if true, that's one hell of a hunk ..... perhaps he has salted oil on one of the sites (lol) if that is the correct term for oil

see cynic is talking shit again.

17% is a derisory stake? ...... i think not
Mr P has certainly put very real money into GOO, even if he still holds just a paltry 10/11%

Part of an e. mail that has eased any worries in GOO I was starting to have.

No problem with Nancy, its just the guy who reports the figures was on holiday. Should be available early next week.
Rest of the e. mail is even better.

IMHO DYOR

Laurie ,

Thanks thats good to hear!

At last,volume and up we go.

would like to think there was better reason for latest excitement other than yet another unproven licence and (over)excitement by the lemmings ...... is there something i have missed?

I am excited because i have held on to these and almost back in the black,i dont think you have missed anything Cynic,lets hope there is a better reason for the rise,one which will sustain these rises,other than the obvious weekend press coverage which has to some extent encouraged some buying,lets hope castro likes goo!

still low.

Bought back into GOO last week, quite an interesting morning watching L2 activity.

Come to Cuba comrades.