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

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!

with Castro stepping down after 50yrs in power - will the economic structure change.

will Gold get their PSA's to explore onshore /offshore targets?.

Lizard , a very valid point , this should be in GOO'S interest ! I think once that house of cards starts to fall , alot of changes will take place in Cuba very quickly !

Cuba will open up very quickly then to Western investment big time!

Could be some thing in the US Cuba theory a good time to be in there as relationships may change.

GOOS ticking along with out any help.

I have just looked the charts for this. I see it quite bullish mark when it is bounced off the 200DMA. Could be some intersting times ahead. May be tempted to get in on Monday.

R88AVE
A bit smaller next time please.

would expect any news flow on all assets to start to work its way in from March-

EIA's, drill/ re entry dates, licenses?.

On the up.

Looks like AT buys are back. Watch out shorters!