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

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.

it certainly is a stellar performance and i am trying, successfully at the moment, to resist the temptation of throwing money away by buying back in

I sold most of mine on friday at ,12 and a half pence. I got caught out the week before when I could have sold for .13 and a quarter pence. I regretted not reduing my holding all weekend and then on top of that they dropped back down to .9 and three quarter pence after that a week later. I now have 50,000 shares left. I even thought abought selling them this morning at .14p. They stand me at .13 and a quarter pence. I have been hanging on to all these shares from over a year ago. I can remember on one days last year when they were .17 and a half pence and they dropped down to .14 and a half pence the same day. I would be very interested to know why they are stiiil going up in the very depressed market. Good luck to all holders.

at least that is only about 14% (from memory) of your original holding

aha!

"LSE: GOO.L - news) (further stake-building rumours; traders believe an oil company in the Middle East, which views Gold Oil as a possible consolidation target, is behind the buying)"

certainly heavy volume today, which i believe was also so last week

Interesting, cynic. Well spotted.
Would be nice to know some details though. I believe Mr. P comes from Dubai so presumably he has better knowledge than we do. I wonder if he has a hand in the proceedings???
Am tempted to hang on to my holding now & see what happens.

i would guess Mr P is Persian (not Iranian lol!) by extraction ..... i have a feeling got from where i know not, that he is based in UK or at least uses IG

managed to avoid the urge to buy this morning, and thus lose money already!

Mr.P seems to be a very wealthy businessman who I believe is Iranian by birth. He has very close contacts with the horse racing community & also appears at meetings of Oil producing countries, though in a minor capacity. To correct my earlier post, I believe he is based in Dubai.
It would not surprise me in the least if this possible 'interest from an oil company' is in some way connected to Mr. P.
(Not wishing to get in an argument over Persia/Iran :The country has always been known to its own people as Iran (land of the Aryans), although for centuries it was referred to as Persia (Pars or Fars, a province in southern Iran) by the Europeans, mainly due to the writings of Greek historians. In 1935 the Government specified that it should be called Iran; however, in 1949 they allowed both names to be used.)

cynic are you not tempted to buy a small holding?

i fear i have proved myself to be a total masochist and lunatic who should be locked away ..... just bought modestly at 13.75

cynic -thats days old. from the ft.

cynic good to have you back

only cos you and others need a punchbag when it all goes pear-shaped again!

maybe it will not this time. I have now sold the majority of mine, still at a loss. I nearly sold the rest of them today at .14p but did not. The market is well down. All my shares are down, this last week has been terrible for me. It all started to go down since last wednesday. All except for goo. Having said that there are now some good bargains to be had. Maybe buy british airways tomorrow.I hope the rest of you are holding out well. best of luck.

sitting on hands is not a bad policy

Cynic
And what was your reason for the purchase other than following the crowd.