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

Patience Richard, patience :)
Perhaps I might actually make a profit out of GOO once more, here's hoping.

pth

PS. Still away at work Richard, although moving location next Friday, but will be back in the golf groove mid to late November.

good to hear from you Peter .... get in touch as soon as suits .... i know you have my e-mail and perhaps i also gave you my mobile

I presume the following is still relevant:

"An AIM company must issue notification without delay of any new developments which are not public knowledge concerning a change in:
♦ its financial condition;
♦ its sphere of activity;
♦ the performance of its business; or
♦ its expectation of its performance,
which, if made public, would be likely to lead to a substantial movement in the price of its AIM securities."

I see no reason to suspend shares on the basis of good or bad drilling news, though I seem to remember that GOO did this before when they had trouble with the surface pumps (I may be mistaken). A change of company structure would be my guess.

Has anyone thoughts on how long this suspension might be?

doubt if it will be more than say another week, and may even be much sooner ..... or at least clarification should be

Plethora of speculation on the 'other side', obviously the suspension is connected with MNT, so I guess it's a takeover (reverse in MNT's case).

pth

hi peter .... why no golf today? ..... my excuse is that i played (very badly) friday, and (pretty well; 3 better than h'cap) yesterday and have some dull stuff to do at home

Back to work today Richard, gotta train to catch in a little while. Played yesterday in the Captain v Vice pairs betterball, wasn't actually intending to, but turned up to find one pair were pairless so to speak. On a hiding to nothing of course as one, I was on my own and two, I hadn't played for some time time. Needless to say a good stuffing was the order of the day!

you weren't chicken so no stuffing!

richard have a look in your email box.

story slowly unfolding. minmet new chairman. gm and md resign.

how much did they pay for gold's shares?. is there an exploration license in there- you know where?.

is that good or bad news then lizard?

In the words of Han Solo "I got a bad feeling about this"

be comforted that sp can only fall 6p!

Anyone know how long they can suspend before they have to make an announcement?

as long as it takes ..... EEL has been suspended for ages

So there is no rule governing a time span between suspension & news??? You may well be right but it surprises me. What's to stop a company sucking in investors & then suspending trading indefinitely?

'temporary suspension pending a transaction announcement'

for what purpose harry?

Forcing the sp up to distort the valuation of a company.