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

good news- excited about Z34 Talara Basin. 1m acres is a vast block.
look at the map.


http://www.goldoilplc.com/peru3.html

Nice bit of news I have put it in the header.

10/07/2006 Plectrum and Gold Oil Exploitation Contract Block Z-34

market reaction = zzzzzzzzzzzzzzzz ...... he writes cynically

Tomorrow is always another day !

cynic- your constant negative reaction is getting boring.

this is a positive step in the right direction and all part of converting the perupetro agreement of Z34 into a 30yr e and p license. a very interesting area in talara basin peru.

lizard
cynic is just cynic GOO rose today 6% that's not negative.

some large trades going through at mid price!.

Spread online is 6p - 6.25p

Hey guys (and gals) - please forgive my continued ignorance, what is spread and what is it's significance on the share price?

spread is the difference between bid price and offer price. this is set by market makers who move the spread to make a market.

you as a private investor can trade within the spread for example gold oil spread is 6.00 bid - 6.75 offer. you have to pay the offer to buy from a market maker.

although the spread is offer is 6.75p you can purchase goo for 6.45p this will vary between brokers online or phone.

most aim stocks trade a wider spread as price volatility is more frequent unlike say ftse100 stocks where the price movements are less mad.

Two chunky Broker to Broker trades, somebody wants the stock, hopefully a good sign.

gbrown:

The spread is the difference between the bid and the offer. Quite often the spread you will see quoted is not the spread at which you will be able to deal, it is usually a lot tighter. However a wider spread generally discourages buyers, particularly day traders as they will need a signficant movement in the SP to turn a profit. Actually it discourages everyone, because if the spread is 10% for instance, you will then need a movement of that 10% plus the percentage you pay for dealing charges / stamp duty just to break even. Generally when there is significant interest in a stock the spread will close to encourage dealing, both sellers and buyers.

pth

oops, posted at the same time as Lizard

pth- i can live with 10% on aim stocks it has moved to over 23% in the past which would certainly put me off. i wonder when they will announce brazil acquisitions?

pth---- it also means that one broker doesn't want them.
2517

No idea Lizard, but I do feel reasonably confident about GOO at the moment. There is certainly more interest in the company than there was some months ago, reflected in the volumes traded. As always with exploration companies aspiring to becoming producers, patience is the key.

pth

2517

As in all trades (someone doesn't want what they are selling).

But IMHO, it means that the Broker(s) who offloaded didn't have a buyer, whereas the other Broker(s) did. The Broker(s) who bought at 6.50 will obviously turn them over at a premiunm to that price, so eventually it should have a positive impact on the SP when they are moved on. But WTFDIK :-)

pth

well its time to put my money where my mouth is. it is time to get rid of the sensible isa account over the years and put more funds into goo.

http://www.goldoilplc.com/reports8.html

rig now in place on san alberto XXI.

tick up, can only buy 25,000 online but can sell 250,000.

thats me buggered then i wanted to add tomorrow when funds cleared!.