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

No, you may well be right.
Hopefully if we say 'well' enough times, GOO will get the hint! :o)

harrycat,you are too quick for me!!!!

hope for all youi holders that thjis does prove to be yet another false dawn ...... in its favour, sp is performing very strongly in a very sick market

CYNIC,i hope you mean ,it does NOT as opposed to does????,in your above post.

Driver's post #3731 said that GOO shares would be valued at 95p each based on cash, assets & expectations in 2008. That's good enough for me. Just gotta be right!!! :o)

ah, so you spotted the obvious error then!

Nice rise today what more can I say.

nothing else to say, except your prognostication of 95p within my lifetime at least is, i fear, rather optimistic

Cynic,you WILL live to be 100. I know it!

cynic
It wasn't my prognostication (nice word) it was GOO's at their GOO presentation.

ah well they were always going to be conservative weren\'t they!
by the way CT i know i shall live to be 100, unless my children have their way - lol!

Cynic , if they get to 95pence and you live to a 100 , think of all that dosh!

Cynic,
Thats good to hear!!!!,
But mind the children.

inter alia, both my parents smoke(d) like chimneys ..... my father died at 89 and my mother, apart from her knees, is still going strong at 87 ..... truthfully; doc told my dad at 85 that he should give up smoking ...... as he rightly replied, \"So how much longer will I then live?\"!

do you think that yesterdays rise was due to a large order again. The pattern seems to be that when the order has been filled then the share price goes down again. I cannot find any news in todays newspapers on this one.

My dad was told if he gave up smoking, gave up drinking and gave up women he would live to be 100. My dad said 'what for'?
2517

Seriously folks, well done to those who held on/still holding, I left these some months ago with a small profit. May your good luck continue.
2517

Cheers George. Am selling the packets I bought. Bought on the way down, selling on the way up. May get left with the most expensive ones but not loads of money so no harm done!

sensible move Harry ...... at least you have got out with your shirt, and if that leaves you in the money overall, may JUST be worth hanging onto a small balance in the hope that there really is something worthwhile in the offing

Amazing. In a sea of red, GOO is up 2% with 2m shares traded already & still no news.