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

cynic----- Man Fin acquired their 3.06% by close of play Wed 9th.
2517

quite so, but as 3% is the declarable level, I rest my case

my guess there is more to this rise than a shareholdiing!. just m o.

capetown

i hope lizard do not everything or too much before the big party.
same applies to myself.

Why the big rise today,have been away for couple of days

correction

read..... do not sell instead of do not

Man have actually reduced their holding had 13.5 million on the 19th June.

well spotted ..... more to my assertion then!

i think the big rise is mainly due to the wallstreet reporter interview that GOO did recently. the sp of excellent little fishes always shoot up after that, as the big fishermen recognise the true worth of the company. more to come though. watch this space.

Georgetrio,i dont buy that too big a rise in one day,rns must be on its way,and those in the know are and have started to buy,VERY exiting,

OFF topic very pleased for all those in VOG seems to be recovering

capetown
yes it is very exciting because not only GOO was very eager to drill this well, GOO was very confident too. now i think GOO press officer must be receiving a lot of phone calls from big investment companies. however it nice that you are in.

Havn;t been posting Im still abroard on holls looking good nise rise today.

i would like to think the relationship with our brazil jv partner proen will be advantageous when round 8 bidding commences in november!.

plenty going on here low risk assets- medium risk assests- high risk high reward speculative plays. a diverse portfolio accumalating slowly across s america.

2m acres in peru!- high risk high reward!

personally this may be news leak about xxi or flow rates at nancy

good day for goo and vog still a long way to go with vog need to go to 1.59 per share to break even. goo is performing well to say you could have bought at 5.5p a week ago. I bought my at 6.4p and 7.5p. I thinking about topping up on monday. say another 30,000. this will make a round figure of 100,000 shares. take money out of a bad performer and put the money in goo. I am feeling good about this one. Thanks to lizard. How long have you been investing in goo. Thought about buying the extra goo yesterday afternoon around 3. o clock. could have bought them then at 8.5 pence. but did not. never mind always another day. still feeling confident at the present price around 11p. I am going to hang onto these shares long term even if they go up quite a lot. They have a lot of potential. a lot going on there. who knows. got to get in there now before its too late especially at this level. good luck everyone.

Hi
Just wait until you hear the results from Gold Oil. Sit very tight until then !!!!. 10p will look like a bargain after the end of August
Regards
SM
stephanie.speculator@gmail.com

stephanie, I have not seen your post before, have you been in goo long, sounds like you are into longer term bet. like myself. keep our fingers crossed on this one. I do not think it will be a share that we will worry about.

candolim- been in for two years nearly but plan to hold for around min 5yr if all goes to plan!. i think to date Z34 is their main play and one that is very interesting (1m acres offshore peru talara basin) imo anything positive from XXI will be a bonus. they have a lot of contacts in many s american countries so further acquisitions more than possible and highely likely.


imo still decent levels to buy in at (long term view) but just my opinion.

thanks steph.your views are great .

Well I top sliced yesterday,all my shares are for free now,have seen my profits evaporate too many times before to let this happen again,still got a substantial holding and my stake is back in the bank.