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

Jamee
I have been a GOO shareholder more or less since they floated. I have topped up along the way bringing my average down a touch, but it is only this recent rise that has moved my holding into a reasonable profit. As it was a speculative punt in the first place I will see how things go, if they do a VOG or and shoot up out of all proportion to their value I will probably sell and be happy with the profit. If it is a more measured rise based on assets then I will stick it out for at least 1-2 years and likely more.

pth

i thought i would let you know a bought goo early yesterday morning and paid 12p for some goo then I bought some more a little later at 11.6 p paid a lot for these but I thought they were cheap when I bought them. I feel condifent It will all work out though. would habeen better if i had bought them today. i will wait and see what tomorro brings . good luck everyone in the investors room. keep posting.

Cando and pth..apologies for the questionning! But if you invested in goo when it floated it must have been purely speculative based prob. on management qualtiy. I have small holdings in EO. and SER. The former is purely (I mean really totally) speculative! But is this a good way to chose your stock! How do u compare investing in these AIM stocks rather than putting ur money in property

Can't be bothered to read all the posts since I last looked in, GOOs coming together rather nicely and pleased to be up around 20%.

Lizard how you doing? You've been in on this for some time and must have a decent profit with recent events..

Jamee

In answer to your first question, yes it was speculative but also based on a little research and the probability of finding something in the blocks in which GOO are exploring. SER is very much based on what they are known to have in the ground and that when they drill more wells production and therefore revenues will increase. Property I don't do, although I wish I had started 25 years ago :-) I would suggest that most serious investors split their portfolio, the majority of which will be safe and provide a good yield. The smaller portion, allocated to the more riskier plays, such as small caps.

pth

explosive- i have been in since 04 -and plan to hold for 5yrs. there imo is a lot more to come from goo especially on the acquisition front!. i think moore has a lot of contacts in this region as he was a negotiator in s america before forming gold oil plc.

i also prefer this to the likes of vog rift chp etc (all with big potential) but goo seem to be offereing a very diverse low- high risk portfolio.

http://www.goldoilplc.com

goo strategy on website front page build up to sell or pay dividend.

A poker player?
not very serious
this guy can sell his share at every time!
Then the share price?
One way :down
cautious.....

I'd agree Lizard, their portfolio is good and is working well adding value for shareholders. Wouldn't touch VOG but have holdings in both CHP and Rift... Am looking to move back into the larger player fields with the like of ROC which DGO, recent times has seen some wild swings for both these stocks and some quick cash along the way..

jamie i have bought into property 7 years ago, I now have ten houses, 8 are rental properties and two are personal. I have not bought any property shares as such. I must say I do not worry about my house like I do my shares. I have not seen any profit yet out of the houses, but will do in the future when I decide i have had enough and sell them. also I have never taken any money out of the shares since i have been investing in them. its a good job I have a decent business to rely on for money. I think you will reap good rewards from goo. I have got faith. Lots of interest in the shares all of a sudden. I have not been in this company for long. Lizard got me interested with some of his comments. decided to have a go. good luck to you.

you (all) misunderstood me ..... i care not whether or not he is a poker player .... i initially thought he might be a director or similar rather than just a wealthy pi..... by the way, that he is a "significant" shareholder will not make him privy to any more info than the rest of us .... in fact, fear of visibly contravening FSA rules, could in fact inhibit any extra info he might be passed.

Question for all previuos posters on Goo:
If you were to invest in any of the south Atlantic exploration shares, Rockhopper, Desire, Falklands oil etc what would be your prime motive for risking your money?
I would suggest that the answer is "They may find oil". If they don't, then the share price will drift to nothing. But it's got little to do with steady capital growth.
Surely this is the same reasoning with GOO?
As for the poker player, yes he may have more info than us, but surely his motive is the same? Make a profit and lock it in. Lets hope we sell before he does.
Or have I missed something?

Of course Mr Cynic, everyone connected with the stock market is privy to the same information at the same time! There is no such thing as inside information. Don't be so naive. Good grief your cynicism is conatagious LoL :-)

pth

CANDOLIM...Does that mean you will hold or at times accumulate shares even if the sp strarts to drift in the short term? Definately one thing I have to learn doing - sitting on my ass and not pressing the sell button too quickly in a panic striken mode!

I have a good 25 yrs ahead of me (I think but according to latest life expectancy figures in the deprived area I live it seems that I may not live till 65) so I will take ur advice!

harrycat- the difference is goo in a week or so will have its second producing asset. they have a 11.25% holding with ascent resources producing although small scale in spain. but we are expecting their colombia asset in which they have 40% interest (nancy maxine bourdine oil fields) to be online within a week or so. looking at 500 bpd. but looking to do workover on 4 more wells in same area. this is why i like goo they have something to support them whilst mixing with medium high risk plays unlike for example rift who are banking on one large asset coming true.

they also have exposure to brazil (have been awarded two low risk producing blocks neg for further exploration license only) with their brazilian jv partner proen formed in time to bid in round 8 nov.

to accompany this they have high risk in peru onshore sechura basin 100% interest about 1m acres and offshore Z34 talara b basin also about 1m acres 50% interest. (Z34 looks v interesting).

yove got to gamble in life to win, every days a gamble no matter wot.luck is wot you make it.lets hope its on hower side.

Harrycat, just like the poker player an oil company may have license over a certain field that possibly could have a history of readings all suggesting that oil is present. As the field has never been drilled no-one knows for certain if oil is present or at what gravity.... Now just like the poker player a good board may well be able to get another company to do all the drilling for a % on what evers recovered thus limiting its own costs and risk.... The more a company does this the better chance of being left with a holding in the field and no associated cost to it so profiting highly as it has no cost of production. Sometimes its not so much the revenue in the field but the play of a respected board that attracts investment. SEY a good company to look back on RNS where you'll see plenty of this if your interested. Oh and finally before I get accused of ramping I have no holding in SEY, got out around 18 months ago with a nice profit!!

Thanks Lizard & explosive, you may be right.
Someone earlier mentioned Cairn Energy. I had Cairn a long time ago & if memory serves me right, they bought (cheaply) a block of land from Shell which was considered to be barren or almost so. The reason Cairn has prospered in Pakistan area is that they found large quantities of recoverable oil, much to Shell's embarassment.
My point is, no oil or gas equals poor share price performance.
EME plugged german gas field bore holes recently. Share price down 50%.
I hold GOO stock, but am living on hope rather than reason.

Just had a quick look back at the old posts and believe it or not, Mr Iraj Parvisi held 5.1% this time last year, so at 7.67% looks like he is increasing his investment.

I did read some time ago that he likes oil stocks and that he has the midas touch!
Well hopefully!

Hi to Lizard and the old faithful, glad to see you still in there!
You might like to check this out for price comparison !!!

http://www.moneyam.com/InvestorsRoom/posts.php?page=6&tid=7075

In case the link above didn't work:
In Aug 05 (having then just bought an additional 4 million), Iraj Parvisi held 16,590,000 shares
Compare that to a 30,081,818 holding one year later! Almost double ... that seems like confidence to me!

Sockkie

there also a guy named mark pritchard who owns 42.75m.