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

cynic
You asked.

IMO Price will now drop off due to big players having finished increasing their holdings. Could be time to sell now and buy back later.

I won't. :-)

ShareCruiser
Then you are contradicting yourself.

having seen that HUGE buy by CACI (well named!) how could one be tempted to sell??

Burdine license set to start next week. 4 well programme. believe these wells are previously producing and Gold set to re enter and test.

5th Burdine well in planning with the ANH.

Interesting that the sp still holds in double figures now rather than drifting off to the 6p level as previously. Perhaps a sign of underlying confidence?

HARRY
Agree its held up very well over the last few days of turmoil.

no drills/wells in 07. now we start with over 10wells planned this year. all paid for and decent cash position still remains.

I sold out at .12 and a half, and nearly bought back in at 11.75p yesterday. If they drop back to .1175 I will buy back in. They have held up very well.

.

All looking healthy to me GOO is going to be a very active company and stock for 2008.

janetbennison- interesting time to reduce holding with over 10wells planned in nr term.

your level has presented itself janet.

back in again at 80000 at .11.7 pence

small holding now than in the past. I was over exposed as cynic said.

JanetBennison,

Over exposed is a relative concept.

GOO has not settled down yet so my guess is you are going to show a loss until the next buying spree.

JanetBennison,

Over exposed is a relative concept.

GOO has not settled down yet so my guess is you are going to show a loss until the next buying spree.

I have been taking profits recently on this one if it goes up a little then I will sell.

I am very encouraged to see that GOO seems to have settled @11.5 as a new support level,almost double its last lows of 6/7,any good news ,this will FLY.

so long as thats not a head and shoulders forming...