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

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.

i think you are being optimistic ...... my guess is max 12 which at least would see you just better than break even

Big bounce on the way then?
What price first thing in the morning? Then followed by a lot of people cashing in.

Harry , i believe your be spot on about tomorrow morning , but some interesting times coming until GOO decides what to do with this offer! This will catch a lot of investors on the hop!

Sp up 14% which isn't bad, but not the big bounce I was expecting. Which implies that the offer price isn't going to be much in to double figures, imo.

perhaps they will refuse it then.
a lot going on.

as yet, there is no proper offer on the table, let alone one with a price

true.

lets hope the offer when it appears is based on a price per barrel for the future and not one on the slide..........

watcher

operational update out on money am now. Does not sound good to me.

Janet , yes another big disappointment again from GOO. We have to wait until Xmas by the sounds of it for hopefully some better news on thoses other projects !

- Sept 23 (Reuters) - Gold Oil Plc has failed to find hydrocarbons at its San Alberto-2X well in Peru, the company said Tuesday.

The Latin America-focused oil and gas explorer said the reservoirs failed to deliver hydrocarbons despite the presence of gas and oil during drilling.
This is a follow on from the San Alberto-1X well drilled in 2006, where hydrocarbons were shown on the logs but due to mechanical problems it was not possible to recover them to the surface, the company said.
'This is by no mean the end of exploration in this block as we have recently re-interpreted the logs from an untested well drilled in the south of the block some 50 years ago that shows good hydrocarbon intervals,' Chief Executive Gary Moore said in a statement.
The company added it plans to go ahead with a three-well exploration programme on the block."

almost as fine a company as AMER!

plenty to play for imo.
Burdine permits in leaking oil wells, Azar looks positive and Rosa Blanca could surprise a few with its numbers.

watch out for a deal imo.