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

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

A roller coaster of a ride today, didn't expect this to pick up from this mornings lows!

gold oil sp looks to be holding well to say the maket is down. I must admit I did not expect it either.

On big volume. 10m shares traded today so far, but sells outweigh buys by approx 2-1. Don't think this price will hold for long.

harrycat news out on goo at 5.11 today confirms what you said about there being a large order for goo shares. Credit agricole now hold 4.83 percent of goo shares. This company must be confident.

For those watching trades going through, remember that GOO is a SetsMM stock and that AT trades going through at the Bid will be buys not sells. Not watching myself but just a thought.

make that about c.4m increase.

how many shares are currently in issue?

Can't answer that at the moment, but am looking in to it.
Just a word of caution, which may be my machine or may be the HTML address, but have received a virus (JS/Psyme) when accessing the goldoilplc.com website.
Will keep you all posted.

about 475m.

cash balance c.10m sterling.
8wells fully funded for near term drilling campaign (only paying for one).-


(cheers lizard).

The following is the virus spec. I cannot say if it comes from goldoilplc.com for definite, but it is possible:

\"Troj/Psyme-AN is a JavaScript downloader Trojan (usually HTML-based) which exploits the ADODB stream and CODEBASE vulnerabilties associated with certain versions of Microsoft Internet Explorer to silently download a file from a remote website to the affected computer and run it.

When Troj/Psyme-AN is run on Windows 95 or Windows 98 it tries to download and run an executable via the CODEBASE attribute of an object element.

When run on Windows NT, 2000 or XP Troj/Psyme-AN first uses the ADODB Stream exploit to download the remote executable to C:\\Program Files\\Internet Explorer\\.exe where is a random character string consisting of 1-8 random characters (typically 8 characters) within the range A-Z. It then tries to execute the downloaded file via the CODEBASE exploit.

Troj/Psyme-AN can arrive on the computer via HTML pages containing a link to an infected page. \"

Share's mag mentions Gold Oil this week , mentions GOO'S licence's etc in South/Central America and is worth keeping an eye on! Not often GOO is on the Share mag radar!

someones buying again.

I'm showing sells outweigh buys very heavily, but no denying the sp has moved up on heavy trading.