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

jkd- Goo has been in casualty a long time!

lizard
with such good humour you deserve to succeed.
good luck
regards
jkd

thats what you get for rushing......mistakes......more blue on the s.p. today...must be something big

watcher

That was an excellent subliminal mistake. I didn't notice it until jkd spilt the beans.

What happened to this goo rally? I'm seeing zero change today. That's not what I hoped for.

Interesting times

do most of you guys (n gals!) also own SEO?

stupid boy!! they got more sense......

Cynic

Not me. Why?

Hopefully that all important deal will be announced soon?

been smashed recently.....considering a little punt at the end of the month

bought a few yesterday watcher, hopefully we can see progress soon and these talks lead to a deal to develop the projects as mentioned?

Business Financial Newswire
"Gold Oil has raised 1.96m through a placing of 56,132,473 new ordinary shares with Sheer Energy Pty Ltd.

The proceeds will be used as working capital in the development and expansion of its portfolio.

Sheer is a private company, which has been recently established as an oil and gas exploration venture in South America by John Bell, who will join the board of Gold.

Gold has also granted Sheer two options to subscribe for additional shares:

* An option to subscribe for up to US$1.75m new shares at a subscription price of 3.5p per share at any time up to the end of September.

* An option to subscribe for 50 million new shares at 4p per share at any time up to the end of December. "

Those option prices are not at much of a premium.

my thought the same, maybe gold is sitting on a discovery and sheer and top brass at gold all know.to invest in goo now from private sector???

lets hope so......must have tempted them in somehow......

Funded now to develop the assets

I'm seeing lots of volatility in the price. Does anyone know why?

It's going up fast!!!

Flippin' heck! Why? (I cashed in ages ago, but still good to see them coming out of the doldrums!).

Maybe it is something to do with Cuba opening up?