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

Ph
I agree, rampers try to keep it to yourselves the sp will rise on its own merits when its ready to do so.

From another board courtesy of 777pb I thought a good post worthy of a repost on this board.

Just a thought for the morning, reading the Gold Oil website and checking what they've said over the last few months I thought that the updates have been positive in their tone, especially in regards to Columbia Nancy 1. They always word the updates implying that they have oil to extract and set production targets etc. As it stands for Nancy 1 they are just awaiting government sign off and that should be any day. The target of 500 bpd has been set by Gold and they have had the tanks put on site recently for that size of production. Now this is very back of a fag packet calculations but...
500 bpd with a conservative profit per barrel of say $50 (currently $67), that's equal to $9.125m a year or 4.8m. That's a pretty good return for a company who's market cap is currently 38m and have cash in the bank.
Those of you who claim friday's move to be a "pump and dump" exercise or are thinking that the price is too high may want to think again especially if they also consider what may come from Peru etc. This stock can easily be worth 16-20p with no success in Peru.
Personally I think the market has finally woken up to Gold Oil and the potential of this company at present as well as in the future

driver
many thanks

When we look at a buckingham palace what do we see?
well, we see everything that is visible to our eyes.
however, we miss the most important part of buckingham palace.
That is the FOUNDATION. without it what we see as Buckingham palace won't survive. the same applies to companies, the first thing one pays more attention to is the share price but under the share price there is a foundation and that is
- the management
- the product
- the business system
- and the mission
DO not look at GOO's share price only and do not underestimate what GOO can do
best of luck

Nice start to the sp.

Sat Press

FT
GOLD OIL (rumours of exciting results from production testing at its first exploration well in northwest Peru)

Express

MARKET REPORT: GOLD OIL (talk it is close to announcing a positive production testing update from Peru; traders believe this could help boost support for PLECTRUM PETROLEUM, which has prospects in the same area)

After a little rise , this may fall back to 12 before the next push up to 18

agree fliper- stabilised a bit now after predictable early am rise then profit taking. news now key.

SP going down again , may top up at 12 . chp seeing a little action .

I guess the only consolation for those who jumped in this morning is that their investment should be a reasonably good one when the news starts to flow (pardon the pun). Think it will still come off a bit more.

pth

looks that way but good for the chart.

Support level at 13 ? I will wait for a few days , if no news the sp could be back at 12 .

who cares what the sp does every minute. i bought for the long term on this one whether XXI outcome is positive or negative.

Tis a good point Lizard, my remaining shares are a free ride now, so I am happy to hold for the longer term.

Fliper, the only recognisable chart support at these new levels is at 10p, it could go anywhere between there and 14p until news. Pays yer money, takes yer chances.

pth

It may pay to play the waiting game .

ptholden
can you say your preference between FAO and BLR?
thanks

alinox

Haven't looked at FAO, so I'm afraid I cannot comment. I do think BLR has the potential to reach 2p again with a bit of good news, although it may take a little while.

Apologies for being off GOO topic.

pth

LIZARD
yes, news from GOO vital at this point, i am looking foward to that by the end of this week or early next week. that will provide the sp with another support ground before leaping toward heaven without the help of any hands.
top banana and best luck to all.

alinox

no need to apologise, as far as it is another OILY little fish that's OK.
my first choice is FAO then BLR but BLR is highly speculative with a bright future if they learn from Goo. FAO will not rise but will jump and soar like a bird that is escaping from a cage. best luck

MM working the market well . sp went down to 12 and buyers came back . I think they will drop it again later to balance their books .