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

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.

????????????????/ for why???????????????

No reason why. It was purely an example. There must be many reasons why a company would want to manipulate the market to their advantage. I was merely curious to know if a company could suspend its shares indefinitely.

no ...... suspension has to be for good reason and would also need the approval of the stock exchange

It is one week today since gold oil company was suspended. You would have thought that we would have heard some news by now.

perhaps they are waiting on someone / something.

confess i too had fondly thought that any deal being hatched between GOO and MNT needed minimal tweaking and that all would have been revealed by now ..... clearly not so, but whether for better or worse, there's nothing anyone can do except sit and wait

true.