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

I KNOW HAD JUST CHECKED THANKS

Plenty of buys and the sp drops been there before.

Oil at $107 this should be going up not down.

as i have mentioned before, the nearest GOO currently has to black stuff is tins of T&L treacle!

January 15, 2008 Production for the month averaged 473.53 bopd, an increase over the previous month by some 20 bopd.

not even an extra pallet load of treacle pd!

But enough to power the lawnmower!

does yours run on treacle derivative then?

Guys : have a look at PVR...the only blue for me today... (being stuffed on everything at the moment,) terrible !

No comment might get into trouble with HM Customs and Excise or whatever they are called now!

What does 473.53 bopd equate to in cash?

4 7s 3d

Buyers coming in Oil now at $109

Hoping tomorrow will see a pick up for GOO and other oversold stocks as the Dow has had it's biggest one day rise for 5 and half years!

907k but before the close blue tomorrow.

Sea of blue on goo,what a missed chance to have topped up @8.40.

Not sure it's a missed chance.
If crude drops below $100 a barrel & the $ strengthens, this may slide back to the old 6p level until news is forthcoming.

It was that price when crude was 50$

Crude was $70 pb in sept 07 when GOO was last around the 6.5p mark.
But I agree, crude would have to fall 25% to see the 6p level again.
Without news though, I still feel that GOO sp may be under pressure.

The pressure will ease when the drilling is in force with the rumours and speculation of oil finds we will see 20+p before long.