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

I have read it, but I still don't understand what has changed. There is nothing in the article which we & the rest of the market didn't already know. Surely every exploration stock has potential, but you can't value a company on what might happen. I have a stake in GOO, so I am not complaining, but I think the risk element has been understated.

lizard
It's in the header and on the research page, has been for a while.

Typical. I hold for a year, then sell finally, making a slight loss in the process, then the price goes up by 20% a week later. Not sure I can really understand a proper reason for the rise. Anyone take a wager that the price will be back around 8p by the end of Jan?

If theres no proper reason for the rise,then the same applies for a fall?,its typical ,you sell price goes up,you hold and the sp falls.I have held onto mine but face the same with other shares that i hold .

tcc- why sell out now?- they have 8 wells to be drilled in the near term thats worthy reason to hold imo. additionally they may only be paying for one of them (derisked) .

of course they may all fail or may not but thats the risk you take (at the least expect Burdine to produce), its not like they are desperate for cash have already 7m sterling (thats a lot of wells) another 23m shares at hand goes to the company if required, and warrants if exercised proceeds go to the company.

farmins in application also. may find out soon also if Cairn are taking the jv with Gold Oil on Z34. Cuba still ongoing etc etc.

a fair bit going on.

never any harm in banking profits, whether by selling part or all

I wonder how much are mr P has made from the recent 9 million he purchased.

capetown
I don't think he has broke even yet he was buying a lot higher than this.

agree driver- IP bought a shed load in mid teens if i recall correctly. he may well be about = now would think after recent averaging.

I'm staying in as not one to sell on an upwards trend. Not sure where this is going but hey all the time its going up happy to hold.

And up we go again.

Big volume 15p soon

someone is buying massive.

another excellent day for GOO ..... perhaps Mr P had a big win at poker!

Hi, Cynic

Is that a Golden Cross being formed ?

not really, because 200 dma can scarcely be described as rising ..... nevertheless, a very significant upward break, but would be hard pressed to recommend a buy for there is no real logic, other than that someone seems to be buying a swathe ..... but do remember we have seen this before (i know; that's when i got suckered in) and sp has subsequently drifted back

Very big volume today 19m traded as you say cynic some one likes a bit of GOO and is getting plenty of them their pocket must have a bottom so the sp should settle down sooner or latter.

just argably someone knows an awful lot more than the company admits to

Something is definatly going on, would love to know what but all the time were in the dark all I can do is watch for the sp to level out or give me a sell signal. Lets remember this share has in the past fallen just as quickly as its risen. Until we know more this isn't a share I'd invest further in mainly because its been a loss on my portfolio for considerably longer than its been in profit.

Explosive
You dont have to add for the sp to rise other punters are doing that, the reason it fell sharply last time was they found a duster or should I say water this time they havent even started drilling yet so its looking good IMO.