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

Gold Oil has confirmed that drilling operations on the Azar block in Colombia's Putumayo Basin are likely to continue for another 2-3 weeks following delays.

Gold Oil said it had been informed by the operator, Gran Tierra Energy, that delays had been incurred during the he drilling of the La Vega Este -1 well on the block.

Gold Oil said the the farm-out process of the Z34 block in Peru is continuing with a number of international operators.

Gold Oil says it hopes to be in a position to provide a more detailed update during the next two months.

Shares drop but do recover a little.

Cynic

Please share those savoury snippets.

i don't keep newspapers for much more than a day - surprise surprise

Has anyone got any idea why the SP has crashed?

because MrP etc smell like week-old fish ..... try reading the papers occasionally

That’s not a crash that’s a correction the crash may be yet to come.

Here is an interesting article.

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/7511905/Aria-Capitals-Iraj-Parvizi-implicated-in-FSA-insider-dealing-investigation.html

Result of AGM and Suspension of Trading

http://www.moneyam.com/action/news/showArticle?id=4398963

how long will the suspention last? will they ever be tradable again? is this another failed share? any info folks?

PF, these were suspended before a few years back , i believe for two weeks or so! Seem's to me a power struggle is going on behind the scenes, probably will come back, and be judged as always by the Markets reaction to the RNS that follows! IMHO

The shares have only been suspended so that the shennanigans in the board room can be sorted out, how long the suspension last, couple of days, a week, a month??..

I would think at least a month. If you cannot pay for them you are stuffed. I can, and I am very happy with the situation. Several matters regarding Colombia and Peru can be settled and sorted prior to return and that will significantly affect the sp.
Meanwhile they will appoint serious oil-people who know the lay of the land and a Chairman who has the respect of the City.
At the same time the suspension prevents the scurrilous crew getting their greasy greedy paws on it, those who were trying to appropriate our company for a pittance, and keeps them at bay.
I most sincerely hope Parvizi and pals have the money in their voluminous trousers to ante-up for their recent acquisitons. Most sincerely folks!

Uponthelowdown

Thanks for that excellent post. It's got me thinking about what your mean by "At the same time the suspension prevents the scurrilous crew getting their greasy greedy paws on it, those who were trying to appropriate our company for a pittance, and keeps them at bay.".

Can you elaborate without opening yourself up to libel?

I met JG and I like..I saw, and heard, the other lot and didn't.

The board, ex-board, were generally nice people but if we bring the right 'new blood' we will be in good, better, hands. that is all. I have no knowledge as to who will be appointed.
I sense there maybe a South American or two, at least someone with in-depth knowledge of SA and Colombia! probably a UK Chairman with gravitas and respect in The City! A Canadian oil person would help with Cuba.
Meanwhile the business of Azar Z34 etc continues.

Who knows? I await the EGM and the re-launch of a clean new company with great prospects. Hopefully in three weeks now, if they keep to schedule.

Uponthelowdown

Thanks for that. So my take is we are not in a bad position and we are looking to find a better bunch of guys to run the show.

As you say "Hopefully in three weeks..."

MrP will be after his own interests and no one else's

IP's track record is pretty poor as far as company involvement is concerned.
http://company-director-check.co.uk/director/904068893
His main interests seem to be gambling & horse racing. If you are basing your investment decisions on IP's involvement and management skills, I would advise extreme caution. In my opinion GOO is not high on his agenda for maximum returns.

The announcement released today (24 October 2012) at 7am (RNS Number : 3706P) was released without the date of General Meeting being stated. The Company confirms that the date of the General Meeting is 12 November 2012. All other information within the announcement remains unchanged. The full corrected text appears below.

Gold Oil, the AIM-listed oil and gas exploration and production company primarily focused on opportunities in Latin America announces that today it has issued a circular to shareholders convening a General Meeting of the Company to be held at 3.00 p.m on 12 November 2012 at the offices of Seymour Pierce Limited, 20 Old Bailey, London EC4M 7EN.

The resolutions seek shareholder approval for the authority to allot new shares, to dis-apply preemption rights and to change the name of the Company.

Subject to the approval by shareholders of the change of name, the Company's shares will trade on AIM under the new name of Blitzen Energy Plc with effect from 8.00 a.m on 14 November 2012 and the Company's TIDM will change from "GOO" to "BLTZ". In order to reflect the change to the new name, the Company intends to change its website address to www.blitzenergy.com.

Wherever did they come up with that name??? I feel some Xmas reindeer jokes coming on!!!

PR and graphics guys etc etc are short of work