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

is it now

Not sure of the origin of this article, but will post anyway as it sheds some light on the current rise.( Apologies in advance to the originator. Fox Davies I think.):
"Gold Oil (LON:GOO) jumped 30% during afternoon trading on huge volume of 22 million shares, which is almost 5 times the average daily volume. The last update from the company was back on the 15th of March that said it has now completed the processing and interpretation of the 3D marine seismic Erika North and South surveys on Block Z34 offshore Talara Basin, Peru. Receives Competent Person's Report from DeGolyer and MacNaughton for 12 prospects identified by Gold Oil on the block. -Mean prospective resources certified by DeGolyer and MacNaughton total a combined 2.02 billion barrels of oil with a mean potential net present value of $ 2.6 billion. Farm out process is progressing well with the data room open and available to prospective partners from early February. Considerable interest in the opportunity has been shown by a large number of oil companies and in order to accommodate the level of interest, the bid deadline has been extended to early May. As we approach the bid deadline, I guess the speculation will start to make its way around the market, hence the move today."

and having been well ahead - at least in % terms - earlier this morning, guess what

Is it too late to get in on this one??

Not if it hits 25p but then it is Gold Oil.

look at the chart and decide for yourself

better still go and find the hole in the ground and ask somone over a beer how things are working out.

it's not very obvious why this share is performing like a minuteman, so don't forget to BANK profits prudently

I think It's best to adopt a Yoda voice when talking about this one "a speculative one, one might say".....it goes up and might crash with a bump !....anyway took a smallish position but as I never have had any luck on the south american main continent punts apart from EEN of many years ago.....I presume I shouldn't have...

What's up with the heavy print here ?...

No idea.

rocket and stick syndrome yet again?

Yes it seemed to coinside with Parvizi selling out and Mrs Parvazi picking up the batton.

something passing strange happening here at this moment - watch carefully

Not up to your usual high standard of eloquence or grammar Mr C!!! Nevertheless, I am watching carefully! ;o)

nothing wrong with the grammar, but certainly puzzled by various aspects of the trading here

Good grief HarryCat I thought for one moment you were talking about my 'coinside'. It's good to know that spelling transgressions get past the grammar police.

Nah, just a dull day on the markets, so I thought I would get out my red pen!!! :o)

activity here has now been very heavy for several days with sp refusing to crash ..... just maybe something useful is afoot, but tread carefully

Bought in yesterday @6.35p sold this morning @6.94p , nice little £812 profit.