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

news due

all, Production testing now underway on the Burdine wells Colombia .

Lets hope when the Directors say they 'expect to significantly increase production output from those wells'

has some standing.

Thanks Lizard , lets hope they right !

Should also get some news on XXI and Z34 results soon mcgrath.

Good news on the production front. All three wells tested positive and Z34 is coming on nicely.

Oil over $70 again, should have the $'s for Goo's recent production increases

Production news due on the 3 Burdine wells that have just been completed and tested.

Bought some more today. I like the look of offshore Z34, major upgrades were mentioned in last rns so heres hoping results are good.

lizard, cheers for the production info.

GOO will have quadrupled cash flow from last quarter with these new wells nr to production. Should come in useful for asset development.

Lizard , On the move quickly , lets hoping for some great news soon !

Yes news due offshore Z34 results and Burdine production testing results expect?

Been adding while sp was down GOO recovering well. Thread has been updated.

Driver , good to have you back and clever buying there on your part!

58
Cheers, was a bit disillusioned lost a bit with three of my stocks going under so kept my head down.

Well that's understandable , i have lost my shirt in the past with Baltimore and bloody Yoo Media, yes it does hurt. Luckily my average on GOO is only 6p , which hoping we will soon burst through!

LONDON (AP) -- Oil prices fell to near $71 a barrel on Thursday, dragged down by signs of faltering U.S. crude demand and concerns the global economic recovery will be weak.

Benchmark crude for October delivery was down 33 cents to $71.12 a barrel by midday in Europe in electronic trading on the New York Mercantile Exchange. On Wednesday it fell 62 cents to settle at $71.43.

Oil briefly hit the $75 a barrel level Tuesday but failed to break higher and has been sliding since then.

Investors are cashing out as new government data showed weak demand with crude supplies rising last week in the United States, the world's biggest energy user, said Tetsu Emori, commodity markets fund manager at ASTMAZ Futures Co. in Tokyo.

"Reality is setting in. The latest U.S. data showed that fundamentals in the oil market remain bearish," he said, adding that oil prices could fall below $70 a barrel in the next few days.

The Energy Department reported Wednesday that U.S. crude stockpiles rose by 200,000 barrels for the week ended Aug. 21. The same report a week ago showed a large and unexpected draw on oil, which sent prices soaring.

David Donora, executive director of commodities for London-based Threadneedle, which manages about $80 billion in assets, warned global oil demand could decline over the longer term given anemic economic growth and high oil prices.

He said in a recent report that rising unemployment, high levels of debt, increased savings and low economic growth may cause U.S. oil consumption to dwindle in the next few years.

In other Nymex trading, gasoline for September delivery fell 1.37 cents to $1.9689 a gallon and heating oil fell 2.0 cents to $1.8320 a gallon. Natural gas shed 4.5 cents to $2.865 per 1,000 cubic feet.

In London, Brent crude fell 29 cents to $71.46.

Production results this week by the looks (last rns).
Anything above $40 for Nancy Burdine is profitable so $70 as it stands today will be very good news for Gold Oil.

Worth remembering GOO have a low break even level on this asset at about $10.

A step in the right direction with potentially another three wells being put on long term production in the next few weeks.

Ticking up nicely so far , good sign considering all thoses sells yesterday and today ! Must be good news coming soon !

Loads of volume last few days, something brewing?

Gold Oil could be much higher in a short space of time. A BUY in my opinion
Up 7.9% this morning
s