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

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!

I was away last Fri so missed all the fun, there is still a lot of buying presser on GOO from all those that sold out getting back in for the sp to drift back up.

friday to be expected after run driver. now we can get some momentum again.
big buyer still lurking perhaps?

Share trader- if i cant make it are you going?, would be useful to hear about the presentation and who attends.

From the other side courtesy of Brasso3


Just got back from the GOO presentation. Not much new info really.

XXI:-
New russian surveys are encouraging. Looks like they have identified 4 hot spots. The previous drill was right between two of these hot spots in the presentation. The logs show porosity, pressure, permeability and HC. Two wells planned early next year. Waiting for EIA.

Z34:-
The Talara basin has now produced 1.6m barrels of oil all upto 400 ft depth.
They think they can go upto 10,000 ft depth at Z34. The drilling costs will be massive though costing upto 500k a day at those depths. They intend to look alot closer to Talara where costs will be 200k/ day. GOO have identified alot of fault traps. Petrpbras are very interested in Z34.

NBM:-
Nancy is producing at 700 BOPD with current pump. They are still waiting for the new pump which will increase production to 1000 BOPD. They plan on having 5 wells producing at Burdine next year when they have EIA.

Rosa Blanca:-
Drilling slipped to May next year. PELE are producing from a field just down the road. Osage have identified 3 other structures.

Cuba:-
Oil discovered many years ago but operator pulled out. 'Potential company maker'!

Cash:-
7,000,000 in the bank
850,000 carry from Cairn at Z34
850,000 carry from Osage at Rosa
700,000 returnable gauarantees

Total = 9,400,000

If you include there projected earnings for 2008 this figure should be in excess of 12,000,000.....

Revenue less overhead 2007 = 465,000
Revenue less overhead 2008 = 3,500,000

They value GOO at 95p/ share based on assets and predicted production from 2008 going forward.

Many thanks Driver!

thanks driver- looks encouraging.

buyer may have been filled now by the looks of it.

any ideas why gold oil is falling so fast. I am still holding my shares and will continue to do so. I have always known that this is a tong term one to tuck away and try to forget about it. Then hopefully in the future. They may rocket. I have read the comments on the meeting last night. I have noted that they say that gold oil may reach .95p in 2008. I would say that they would really need some excellent results for that to happen. Did they go into any great detail about how they came to this figure? The very best of luck to all holding.

NPE shows you the risk

I see what you mean maddoctor npe have dropped a similar amount to goo this morning. I have put this compny onto my watch list as I have not heard of this one before. Good luck.

Janet, we think the reason for the recent rise in the share price was due to a buyer wanting a large quantity of these shares. Now that the order has been filled & the demand for the shares is now a lot less, the price will drift down again. As there was no drilling news or other exploration news to push the share price up, this seems to be the most likely explanation for the recent rise.

thankyou harrycat

last nights presentation.

http://www.proactiveinvestors.co.uk/pdf