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

Still a bit of buying pressure left after yesterdays rise.

Stirring in to life , could be news coming?

just turning over in its sleep!

Good one Cynic!

"Gold Oil plc ("Gold" or the "Company"), is pleased to announce that it has
received: an Environmental Permit for its Rosa Blanca Concession,
onshore Colombia; an Environmental Permit for its Z34 Concession,
offshore Peru; and an update on it San Alberto 2 well, onshore Peru.

In the Rosa Blanca Concession, onshore Colombia, the Company has a
40% participation interest and is Operator of the group. The other
partners consist of Osage Exploration and Development Inc. of the USA
with 50% and Empessa Petrolera De Servicios Y Asesorias S.A. of
Colombia with a 10% interest. Work on construction of the drilling
platform for the first exploration well has commenced. The first
phase work programme under the licence with the ANH is for a single
vertical exploration well to be drilled before December 25, 2008.

In the Z34 concession, offshore Peru, the Company has a 50%
participation and is Operator, with Plectrum Petroleum Plc (now
Capricorn) holding the other 50%. Under the licence with Perupetro, a
minimum of 2,000 km of 2D seismic must be shot and processed before
February 2009. The Company expects to have completed seismic
acquisition before the end of the year.

On San Alberto 2, onshore Peru, the Company has released the Petrex
drilling rig and test rig was mobilized earlier this week..Testing
has commenced, with a time scale of between 10 and 120 days depending
on the success of the testing."

zzzzzzzzzzzzzzzzz!

What does this mean?

"Under the licence with Perupetro, a minimum of 2,000 km of 2D seismic must be shot and processed before February 2009."

is Patience an Olympic sport yet?. Holders of Gold Oil would clean up on the medal table.

Slow progress again and more Environmental Permits still we have waited this long another few months wont hurt

Driver , guess you are right , but this company like Lizard says would get a Gold medal in the Patience field! Boy you do need Patience of a Saint with this GOO at times!

it's like wading through GOO ...... groan, groan, groan!! ...... sorry about that - lol!

mcgrath1958
If you think you would get a Gold medal for patience holding GOO you would get a Platinum medal for holding SER

Yeah Driver , almost ! GOO at least not hit to hard so far considering the waiting for the results the way the stock market is today?

New article, click HERE

Andy
Cheers, any news is welcome at this stage.

About time to see some decent buys again , could be coming GOOd!

news just out on money am that gold oil has received an an approach to be taken over. Have a look and see what you think

announcement came well after market hours, so let's keep fingers crossed that the premium is considerably more than the curent price ...... would be thankful if the bid for AZM also materialised!

my shares are standing me at 11.7p. I would have thought that if an offer materialises then is should be double the current price or maybe a little more. What do you think?

hold on.