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

thinking of increasing again at these levels. decent expanding portfolio of low to high risk assets (gauged also in potential).

progress has been slow but drilling activity will increase in remainder of year into 08. the deal with cupet looks very interesting.

may get 6p at this rate. that would be good.

missed 6p may get some monday.

with you there lizard plan to increase next week.

the 'MAJORDEAL'.

That's more like it GOO , some nice trades going through!

topped up this am @6.5p. busy season approaching and annual report due in next weeks.

think everyones buggered off!?.

Probably have for now, at least theirs some decent trades today now that the main dealers are back after their lovely summer hols!

Wow Lizard,
hope i am not posting too soon,you seem to have sparked off some buying activity,i like you was hoping to top up at sub or 6p,will watch closley.

I am still in there with a massive amount of shares. Lets just hope the news is good news when it comes. It was around this time last year which goo started to march ahead. Hoping this will happen again this year. good luck to all holding. We have had a rough ride with this one.

for a year now nearly- but now time to buy/ add around 6/7/8p imo with a hold into through 08.

lizard
No still here.

Not seen a days trading in goo like today for quite some time.

Sold out awhile back @ 8p+ and been waiting to get in lower, looks like I waited too long, never mind, this appears to be a strong trend atm, good luck all.
2517

you can buy now below 7p, so what's your prob if you are desperate to add such crud to your portfolio .... and yes i do hold!

Buy at 6.5 & sell at 8.5 (+/-). Approx 30% profit! Crud....I don't think so!

cynic----I originally bought @<6.5p and would have liked to have got in @<6p, too greedy again, this is a share to trade imo. I did have an inkling that you hold these, one of your favourites along with AMER I believe ha!ha!.
2517

whats all this about a takeover approach at 15p?. note the word approach.

you're right George, though no long hold AMER .... i reckon both companies are total crap, though just occasionalyy, where there's muck there's brass

Olympic Peru sac oil find on block XIII- next to Gold Oil.
trying to get link.

almost as good as saying your semi with backyard must be as valuable as the detached house with garden next door!