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

MMs seem very keen to trade GOO today, should be an interesting day tomorrow, see if we can hang onto the rise for a change.

pth

media interest hopefully and nancy possibly or brazil or z34?.

Tomorrow, the Chairman of the Fed reserve will inform the market about the rate, which the market is waiting for eagerly. GOO did the right thing to inform the market today about the drilling progress. excellent management timing to alleviate any fear or doubt. shares usually head towards heaven after an interview with wallstreet reporter, which GOO did recently. my target price is 12p in short to medium term, without questions. my view is: investing in GOO is lending money to GOO management. and here, we have a top banana team.
longterm investor will rejoice because who wants to eat fast, will eat but will go fast too. should i stay or should go? that's the question.

Big buyers today.

wise people!.

Its all starting to come together rather nicely now, nice to also see that no problems have been encountered.

Well ............ we made it onto Business News Americas ! (Just released)

http://www.macroworld.net/m/m.w?lp=GetStory&id=209847211


Gold Oil to begin testing San Alberto 11 well in 2 weeks

Released : Monday, August 07, 2006 5:17 PM

London-based Gold Oil (LSE: GOO) has began logging its San Alberto 11 well on block 21 in Northwest Peru, Gold Oil's Peruvian unit manager Thomas Tidow told BNamericas, clarifying a statement on the LSE.

Gold Oil plans to complete the logging as well as bring in testing equipment and swabbing units within two weeks to begin production testing of the well, Tidow said.

The well was drilled to a total depth of 5,113 feet (1,558 meters) last week, the company reported on its website.

Gold Oil "presently faces limited competition as there are few North American or European oil and gas companies operating in [northwest] Peru. However, in other areas, notably the basins to the east of the Andes, this is changing rapidly as more and more companies see the opportunities available and respond to the terms offered by Peru," the company said on its website.

Gold Oil's promotion permit for block 21 was converted to an exploration license by state hydrocarbons promotion agency Perupetro in December 2005.

Copyright 2006 BNamericas.com

MENTIONED IN RIGZONE........http://www.rigzone.com/news/article.asp?a_id=34929

Do we see any relevance to a "swabbing unit" being commissioned ????

SWAB:

A tool which is lowered down the pipe on a wire line. The "swab" is then pulled out of the hole. As it travels up the pipe, rubber elements expand so that the fluid in the pipe is trapped above the swab and pushed to the surface. This operation is necessary when the formation pressure is not high enough to blow the fluids in the pipe to the surface.

That aint for gas !!!!

This is someone's post on ADVFN seemingly Thomas Tidow Gold Oil's Peruvian unit manager mentioned swabbing units which is a test for oil.

Mail

Aim-listed Gold Oil sparkled at 6⅞lp, up 1⅛p, on hearing that drilling on Block 21 on the San Alberto prospect in Peru has produced encouraging results. Strong hydrocarbons have been located in two distinct zones.

Each zone could apparently produce more than 100m barrels of oil and GO could be sitting on 200m-plus barrels of oil, which at $5 a barrel in the ground would be worth in excess of $1bn for this block alone.

first indications = +0.375p

bloody hell where did they get that from?.

Berlimey, if that article is any where near correct..............??????? Excellent ramping by the Mail :-O
Beginning to get quite interesting at last. Time to sit tight and watch the fun :)

bought another 26,585 goo this morning at 7.45p there seems to be a lot of action in these shares. Thanks lizard.

could get Z34 approval this week. decent volume again today. a fair bit expected over next month.

just for the record average volume over last 3 months is just less than 2 million

Cynic, are you in GOO?

just back in very gently .... paid too much ... lol!

Thanks - will give it a more serious examination based on the Mail's report.

What exactly would you expect $1bn of oil to do to the SP? What about a tenth of that?

Obviously it would go up, but by what magnitude?