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

Lizard

14p is a good selling point from a TA perspective, if the pennant / flag formation holds, so not surprised to see a slight pull back. However it did look for a moment on L2 as if the MMs would continue their 'scrap' and push it up even further. Need to see some official news now to explain the rise.

pth

Georgetrio, in answer to your question, I am not a GOO holder.

Wishing maybe I'd done my homework earlier on this one, but am still not convinced I would have done the sensible thing and bought in. WTH - it's a bit academic now as I have invested elsewhere, and for once not in hydrocarbons as I was getting a bit bothered that I am overexposed to this area.

Waiting for my horses to start running - could be interesting times ahead!

As it turns out........... 15p on the offer!! Just a bit premature :-)

pth

If you are a little bored this afternoon, have a trawl through the GOO threads on the other side. Great fun and nobody has a clue as to what is going on!!

Just need KBC to shift their Offer and another tick up should be on the way. Nice to see trades going through at the full asking price.

pth

The actual spread is 0.02p atm---very narrow.
2517

I am a bit of novice here 2517George, is that good news for outlook..it has started to drop slightly after a such rise today

SMILER
ARE YOU IN THE PARTY.
AS I SAID, ONCE IT BREAK 12P AND 16P THE NEXT TARGET IS A COOL 25P. PLEASE FEEL FREE TO SERVE YOURSELF. THE PARTY IS IN FULL SWING

R88AVE---- I suppose it is for those trading but other than that I'm not sure myself, but as soon as I posted, it changed and I wished I hadn't mentioned it, me and my big mouth. I will hold for the hopefully greater benefits to come, more than doubled my original purchase thanks to lizard and MOR.
2517

ALINOX

are you mad to sell all your GOO HOLDINGS AT 13P, NEXT TIME SELL HALF AND WAIT, BEST LUCK AND ENJOY THE PARTY

Tight spreads are good - encourages buying/selling and brings liquidity to the stock

pth

SOULTRADERS
IT IS NEVER TO LATE, YOU WILL GET YOUR TURN BUT I THINK THE SP WILL HIT 16P THEN RETRACTS BACK TO 11 OR 12P DUE TO PROFIT TAKINGS BEFORE HEADING TO 25P AFTER THAT NOTHING WILL STOP GOO. FINGERS X
BEST LUCK

I have decided to hang on to mine for the time being. Knowing my luck if I did sell they would cost me a lot more to by back. keep posting your views. I am janet formerly candolim.

janetbennison
if i were you i will take 20% of the paper profit and set a stop loss at 11p.
after profit taking the sp may settle around 12p before heading to 25p imho.
best luck

Rome wasnt built in a day as they say. give them 5yrs from float in 2004 and they will hopefully be in a strong position with decent production levels/assets across S America.

There you go, not exactly unexpected:

GOLD OIL PLC ('Gold Oil' or the 'Company')
Issue of Shares
Share Price Movement

The Company were advised on 16 August 2006 that a Notice of Exercise of Warrants
for 1,000,000 ordinary shares of 0.025p had been received and accordingly issued
the appropriate number of ordinary shares.

Application will be made to the London Stock Exchange for the new ordinary
shares, which will rank pari passu with all existing ordinary shares, to be
admitted to trading on AIM.

The Company have noted today's share price movement but is not aware of any
information relating to the Company which should be announced to the market
under the AIM Rules.

Contact: Michael Burchell, Chairman on 01372 361772

PTHOLDEN
MANY THANKS

Sold half of my holding today (prior to the RNS) recouped my original investment, so the remainder is a free ride for the long term.

pth

sold a third of mine. profit was just to tempting. been in since 6p but dont think we will see those days again. will see if i can get back in at 12p in next few days or look elsewhere to spend my gains
Alex

robertalexander
spot on, i will be buying more at 12p as well, for the next target of 25p. that will be 100% profit to take home. never underestimate what GOO can do.
best luck

georgetrio

What a day that was !! ps ox held well to