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

this from another board-

from gary moore md- approval is expected before elections, but even if not we are not too bothered as the same administration team are in power until July.

Have any of you looked at GOO (6p, cap 20 million)?

GOO has a first rate management, full of oilers rather than cricket players

It has 3 million cash, enough to sink 6 wells in low cost Peru

It has signed a contract for a rig to begin drilling in highly prospective target in Peru.

The drilling is due to start in under six weeks time

At the moment GOO is waiting for a permit to start drilling.

This permit should be signed in the next 2 weeks

On this rns GOO should hit 10p

We then have the RNS newsflow that will kick in as drilling commences.

I can't stress how likely the target is to provide an exciting newsflow.

I intend to top slice at 30p

In addition last week GOO announced expansion into Colombia with further news expected shortly.

The price has been held down as a former exec has off-loaded shares but this overhang is almost cleared.

Get in at the first floor!

thought it might have went to to 8p again then back to 3p but not even the tvc could get it there this time goo is like tvc an empty barrel

Well said john. They used to say at school that empty vessels make the most sounds!

hope to get a nice lift once approval confirmed expected now BEFORE elections 9th april!.

tvc15
You can put your ramp on Drivers tips I won't mind.

http://www.moneyam.com/InvestorsRoom/posts.php?tid=9585#lastread

some news would be nice- the last did f all for the sp!.

This quiet period does allow us to top up though. Lets hope news will be released soon.

i read something on another thread the other day that approval is expected before peru elections 7-9th april. now whether its true or not?- but i would think this would send positive vibes in the mkt.

is the current southward turn due to mm's shaking tree? or just the general volatility of a share of this nature? have bought in twice at a lower sp and still it drops further. i believe in the stock just wondering if i should be concerned for any other reason. [i am not very good at the waiting game but i know it is the right thing to do]

Going by my limited knowledge it's pretty much typical for these shares as they are very much news driven. The waiting game should be worthwhile.

Don't forget the last bit of news from GOO; patience is the name of the game, top up on the dips if you can.


Gold Oil Plc ('Gold') is pleased to announce that it has acquired a significant
interest in the Nancy-Bourdine-Maxine (NBM) Oil Fields in the South West of
Colombia.

ELECTION NEWS-Survey Confirms Tie of Peru Candidates

Lima, Mar 16 (Prensa Latina) Peru's presidential hopefuls Lourdes Flores and Ollanta Humala remained in a virtual technical tie on Thursday, which confirms a stagnation of the former and a rise of the latter.


According to a DATUM Internacional S.A. survey, carried out Mar 10-12 in 17 of the country's 24 departments, the Unidad Nacional Alliance leader Flores ranked first with 27 percent of vote intention.



The Union por Peru Party candidate Humala ranked second, with 26 percent, followed by president of the Aprista Peruano Party (APRA) hopeful Alan Garcia, with 19 percent.



Candidate of Frente de Centro, Valentin Paniagua, got eight percent and Alianza por el Futuro's Martha Chavez remained in four percent.



Another 15 candidates got at least one percent, while 10 percent of the people are undecided or may just tinker with their ballot papers as a way to oppose the political system. To cast one's vote is compulsory. Otherwise, one may risk to face a 41-dollar fine.

as i understand goo are expecting approval before the election close around 9th april. but management aren't that bothered as the same administration team are in power until july!.

interest getting stronger- judging by the trades waiting to clear a seller out-

very weird?.

approval before the 9th would be good!. you get the feeling the mkt is waiting for this news, as last acq (colombia) didn't give any momentum in sp?.

peru is the companies main asset. whatever it may hold?- i suppose we will get a better understanding over the next few months.

http://www.mworld.com/m/mw.asp?lp=GetStory&id=187776331

Gold Oil to restart NBM production in 2-3 weeks

Released : Mar 14, 2006 10:51 AM

British oil junior Gold Oil aims to start production from the Nancy-Bourdine-Maxine (NBM) oil fields in southwestern Colombia in 2-3 weeks after buying a 40% stake in the fields from a group of small-scale local owners, company CEO Gary Moore told BNamericas.


Texaco discovered the fields and produced some 1,400 barrels a day (b/d) from 1975-95, when they abandoned the fields on economic grounds.



Crude is 34 degrees API, Moore said, adding that the company contracted a rig on March 14 and will now start a workover using a jet pump in the previously explored areas. Initial production will be 300-500b/d.



NBM is surrounded by producing fields, some of which produce in the range of 3,000b/d. If NBM production reaches 1,500b/d, which would take at least a year, then Gold will build a pipeline from the fields to the pipeline terminal, Moore said. Until then oil will be trucked the 13km to the pipeline.



Gold Oil also plans to drill some areas that Texaco overlooked and will drill at least two or three new wells, Moore said.



Gold Oil paid US$330,000 for the stake and has to pay US$220,000 as its share of the reentry costs, the company said in a press release.



The acquisition "was an ideal low-cost entry into a new country with an experienced and very low-cost operator. where we have every possibility for early cash flow and exploration upside," Moore said in the statement.



The company is optimistic on Colombia and has several other project possibilities under review, he added.

Copyright 2006Business News Americas


Provider:
Business News Americas

why are goo at 6.5p- i don't understand- it proves this acq has done nothing for the sp. may as well not have happened. in fact the sp has gone down since rns.

are they purely waiting on peru ministry approval and drilling to commence?!.

what will the next few months bring?- i reckon those who like a risk are worth putting some on goo!.