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

Nancys opperation was a sucess, breat size was increased from a mear B to D cup!!!! Yeah I know, not the update you were looking for and stop pratting around..........

Cynic, ELP was a seriously crap company, can't see how any company could follow it....... Have I spoken too soon!!

REUTER'S ARTICLE...........Surprised that this Reuters article has not been suppressed or derided by the Bush government. Bad news for us all unless you hold shares in oil and gas companies. Maybe part of the reason for today's rally in oil/gas shares:-

http://money.cnn.com/2006/06/20/markets/oil_intl_outlook.reut/index.htm

explosive -yuo have spoken and we don't know about the situation on nancy!.

whoever Nancy is .... will it make her any happier? ..... Hope so, cos that means it's for her benefit and not anyone else's!

Btw, ELP is still a crap company rather than was ..... typical greedy directors padding their own wallets very well with little or not return likley to shareholders.

all very dull atm- i would expect an update on nancy sometime this week?- but i suppose you never know with oil stocks?

things a bit warmer today volume wise!-

strange trading again- spread getting bigger?>

news on way.

spread killing the mkt though atm?. agree news should be coming! when?

goo noted share whisper in daily express today.this won't do the sp any harm.

movinup
The daily express must have good ears I didnt here anything.

hi driver, apparently waiting on news of drilling started last week.

movinup
I know there is a lot of whispers and speculation on other threads, have they put the spade in the ground yet have they dug the hole yet it's early days I have no doubt that GOO will find oil or gas in the future in the mean time it's a good stock to top up on at these levels before the finds.

driver they have it all in place look at website- rig should be in location now and drilling underway. daily express speculation on update early next week?.

i have taken a gamble and bought another 50k on a t25. who knows what the outcome will be?.

lizard
Yes I know its all in place but some punters want a daily update from GOO and then get disappointed when it doesnt come, when they make the discovery that will do me.

im waiting on nancy i would think that would come sooner than xxi.

daily express has it that traders are speculating on an update early next week?.

Traders speculate on updates daily though so I wouldn't get your hopes up..

lizard
See post 370 and 371

i don't rest my hopes on a newspaper tip - but if i remember correctly it was the d express who speculated on a fund raising at 5.5p before rns.