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

strange that goo have not issued the minutes of their annual general meeting.

Also strange movement in the share price today. From trades shown a decrease would have seemed more likely.....I'm not complaining though

didnt last year jb -cant see the point. waste of a few hundred quid. thats nearly one months rent for the Peru office.

that is one way of looking at it. They must work on the cheap in peru.

The graph is looking good since suspension going up in nice controlled steps 10p looks like the next step.

Looks like you could be right Driver.

capetown
Just a small top up 2.5m lol

Well it was not me!,sp as usuall all over the place.

Cynic in answer to your earlier question, I can say that GOO isn't bad value at 8 / 8.5p and yet still look to be buying back in at around 6.5p, because that difference is a relatively small deviation for this share. Daily fluctuations for GOO are regularly around 15%, therefore I would be looking to get back in on the basis of at least making short term profit from meaningless price fluctuations rather than longer term significant oil finds. One has to turn a profit somehow, short and long can work equally well and to buy in low seems to offer a clear and obvious strategic advantage?

theclancampbell
You may never see 6.5 again. Then may be you will.

Nice bit of volume today should finish strong.

Not really too sure of the reason for the upward climb at the moment, but the trend is steadily up. Having sat on these for quite a while now, it's good to see some of my holding back in to profit. Sp reached 10p bid at one point this morning.
I believe the expression is 'Make the trend your friend'. Sounds good to me!

reckon SOLA is a much easier way to make money at the moment ...... have been trading indices pretty/very successfully, even with a couple of wrong calls en route, but currently too difficult to judge

Nice bit of volume again today hopefully finish blue.

I thought you had some of these in your bottom drawer, cynic?
Surely you must be close to profit if so.

got shot of them a few weeks back along with some other dross when the markets started looking very sour ...... am glad to say that that storm was weathered ok, and portfolio nicely back in profit for the current fiscal year

Lots of buyers at the end.

believe there was another 2.5m trade after close last night also.

I saw that too Lizard.

capetown- and another 2.75m after close thursday.