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

Kitosdad: I'd bought thinking the sp might continue to go up but watched closely in case it showed signs of turning - and I'm jolly glad I took the (v small %) profit rather than now being stuck in a loss situation... I've been able to use the money elsewhere - great feeling!

High today of 13.50,40%less to buy now.Talk about volatile,great watching over last couple days,we have been here before and we will be here again,just shows how quickly the sp can move in either direction.

and thats before the 8well programme!.

Yes, but to be fair, we don't really know why the sp is on the move at the moment.
When the drilling starts, we pretty much know that the sp will surge when news is imminent. I can see this drifting back eventually as it has done before. Or maybe you think the 6p days are over???

its drifted from 13p to 10.5p on the bid. thats a fair pullback. if you look at the chart it was to be expected sooner rather than later.

one media suggests IP stakebuilding and anticipate updates.

GOO, in common with a good many others, is totally driven by hype ...... it is true that yesterday there was some serious institutional buying, but as seen today, when that dried up, the sheep realised there was really nothing to get excited about so took their money out.

it is a racing certainty that there will be a surge of excitement just before drilling starts somewhere, but as even the majors know, the chances of a commercial find are little better that 5/1

"One media". That's a very loose reference. Care to elaborate?

DAILY EXPRESS.

hi there lizard. What is the news in the daily express on gold oil? Unforunatly I have not had the opportunity to have a look at any of the daily newspapers today. I have noticed that goo actually went up to 13.5p today. My shares that I still hold were bought on four different occasion and the average price is .133pence, I have been holding these shares now for over a year. I should today have sold three quarters of my holdings. I cannot get over how the share price has dropped down so quickly. I did sell a quarter of a holdings a fortnight ago at 8 and a half pence. I thought that I was over exposed. good luck to all still holding this one. Maybe the .17 pence goo reached last year around this time is going to repeat itself. That would be a very nice christmas present for us all.

I have just had a look at the daily express online and I did a search for gold oil, but I could not find any news.

"should have" is spot on ...... don't get greedy, and certainly if sp recovers and you can watch, then bail out to leave just a balance with which you are comfortable to suffer the vicissitudes ...... failing that, you can always set a limit (same as a stop, but the reverse)

hello richard, thanks for your advice. It is good to see this share is now on the move again. It will be interesting to see if there is any news in the papers over the weekend. Take care for now.

but you clearly still have far far too many in your portfolio

I have just had a look at the british bulls website and they are saying to sell at 10.75p. I know cynic. I had a good opportunity yesterday and did not take it.

who gives a toss what this that or the other BB says ..... make your own mind up and ACT!

Janet,
Be mindfull of the british bulls info,unless you are a member,you are looking at information wwhich is a day late,so the indicators may not apply,not that i am a member but have been told it is very accurate,having said that ,of no use unless you are a paid up member.
Good luck whatever you decide to do with goo.

GOO are presenting in LONDON this coming Monday evening!

Monday 10th December 2007

Gold Oil and Mercator Gold will present for 30 minutes with 10 minutes Q&A to follow. After the presentations are complete the directors will be available to take questions during a free canapand wine reception which will be open until 8pm

5:45pm for a prompt 6:00pm start at the Chesterfield Mayfair Hotel 35 Charles Street, Mayfair, W1J 5EB Click here for a map of the venue

Canap and wine reception to follow
We look forward to your attendance.

http://www.proactiveinvestors.co.uk/eventregistration.php

thanks Share Trader- may well attend if i can.

lizard,

look forward to seeing you if you can make it!

It would be very interesting to hear what they have to say but can't go myself so would appreciate any reports here!