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

will that be before or after Castro's death? .... lol!

they received operator status (one of few) in Castro's reign so who knows.

been buying when possible at these levels.

Also added a few since the Cuba deal and also see this as a multi bagger when they find more of the black stuff. cynic has this view he just hasn't come out yet.

come out???? ..... come out of where?

cynic
You are showing your age

confess that neither this company nor the markets in general make me feel remotely gay!

So you're feeling Grumpy.
2517

no, just cautious

bring it on- buy time!.

well done Mr GM.

break out the champagne ..... sp up a whole 0.001

.

Cynic,where can you get champagne for 0.001??????,cheers.

fizzy piss .... the residual sugar + a pinch of yeast and away you go ...... don't tell me you get more for yours!

I dont own any stocks that produce yeast,so guess i will stick to water untill the sp here goes north.

2admiral- can you tell us more?

BUY and hold at these levels and imo you will make sizeable returns.

to the workhouse?

Gold Oil PLC (GOO) Significant Shareholding

FOR IMMEDIATE
RELEASE
1 August 2007



GOLD OIL PLC ("Gold Oil" or the "Company")

Significant Shareholding

The Company was informed on 26 July 2007 that at close of business on
24 July 2007, Credit Agricole Cheuvreux International Ltd has an
interest in 19,279,700 ordinary shares of the Company's shares,
representing 4.16% of the Company's issued share capital.

ENDS


Contact: Michael Burchell, Chairman on 01372 361772
Roland Cornish, Beaumont Cornish Limited on 020 7628
3396

---END OF MESSAGE---

is that more or less than previously?

about 3m increase.