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 guess would be back to the 6-8p range until news is due.

does anyone know when the next news is due?

Very roughly as follows:
Peru - March/April for next San Alberto well start.
Z34 still to tender for seismic survey
Colombia - Due to new governmental procedures for well re-entries, Nancy operations will now start in may.
Cuba - "We have identified another area in Cuba that looks like an exciting exploration play. We are not applying for it as yet with our original application for the first area we identified still in the hands of Cupet. If we apply for too much we may jeopardise it all."

The interesting thing about Cuba is that many companies seem to be waiting for the current regime to come to an end, when they think that the political climate may change & encourage outside investment. Holiday companies are currently pushing this as a destination if you don't want to miss seeing it as it is. They think that once Castro goes, the country will modernise. Maybe GOO also think that now they have got a foot in the door that their prospects will be better when the regime changes.

I think you maybe right about goo falling back down to the 6p level. I bought back in at 11.7p not long ago, and I am making a massive loss again already. This message is for harrycat. The sp is falling by the day. I do hope I am wrong.

janetbennison

A bit of news from GOO and this will take of again time to get some on the cheap.

Maybe

Could these shares being placed in the market have anything to do with the recent fall?


For immediate release 2 November 2007


Gold Oil plc ("Gold", or "The Company")

Gold announces the disposal of its interest in Minmet plc


On 2 October 2007, Minmet plc (Minmet) agreed to terminate the contractual
arrangements relating to Gold's Cuban oil exploration interests (and the other
territories) between Gold and Minmet leaving Gold free to pursue its plans
without the involvement of Minmet.

The consideration is that Gold Oil plc will deposit 8,300,000 ordinary Minmet
shares with a broker for the shares to be placed in the market and the proceeds
distributed to Minmet and Minmet will deposit 22,950,000 ordinary shares in Gold
with a broker for the shares to be placed in the market and the proceeds
distributed to Gold. Both sets of shares are subject to lock in arrangements
until February 2008, but such restriction may be lifted with the consent of the
appropriate Nomad. The timing of the disposal of the Gold Oil shares will be
decided by Gold Oil.

Not yet Janet, imo.

so going to top up if this falls to 7/7.5

The graph is looking worse every time I look at it. Do not forget that a similar thing happenend last year when the share went up to .17 pence a share and then dropped back quite quickly back down to .8 pence a share. This was due to some news that came out if I remember correctly. I have been with this company for a long time now, so I will stick with it regardless. I am not too keen to start topping up again at the moment especially with the market being so unpredictable at the moment. That is what I did last year around this time, I kept on topping up when they kept dropping, and I ended up with a lot more shares than I really wanted. Then I had to wait till they went up to .12p to get out of trouble, and that was around a year later. Quite a long time to wait. Good luck to all holding these shares.

Evening Janet, I can empathise, I did something similar, bought at 12p and had to wait a year to recover after the SP dropped to the 6-8p range.

My own view is that this will continue to fade but that it will again rise quickly on good news. I am now watching rather than investing in this one.

One technique that I am now trying to follow is to set a % target for growth and then be disciplined enough to sell at that % gain. Whether it is 10%, 20% 30% or whatever, if the target is set (and stop loss if you are looking at the neg side) then you have at least got into a 'structured' approach.

Needless to say, I am still trying to achieve this discipline. :-)

Take care.

Each to their own strategy, I have a couple holding me at a large loss, but now employ stop losses every time, i would rather have 4 wrong trades cost me 120 a time than one that ends up costing me several thousand in losses, even if they come back good in a year or so, its still very depressing looking at the loss in your portfolio every day....

Agree BigTed, stop losses are a good tool.

Nice bit of blue today as the punters buy back in where's lizard?

im here. waiting on EIA's.

interest picking up in Peru it seems. some big players interested in the country.

two big buys at the end of the day. 950000 and 950000 is ther something ready to go off.

even if correct, volume was no more than normal ... don't build up your hopes ... am sure GOO wants a close run thing with AMER as Crap Share of 2009!

dos that meen your now out of the goo.

Dave 7010 , in my book someone doesn't spend 100k twice for those large trades just for the sake of it!

Cynic , i doubt very much if this share will end up as a crap 2009 share , but everyone to their own opinion!