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

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 .

PT /GEORGIOTRIO
thanks for your answers
have buy 60000 FAO at 2.9
order 20000 GOO at 11
order 200000 BLR at 1.10
time will tell
a strasbourg french guy

You might get your GOO order filled, dont give much chance for the BLR one though, but you never know ;-)

pth

Wonder where the rampers went?

ALINOX
IF YOU GET GOO AT 11P THAT WILL BE EXCELLENT, NICE DEAL WITH FAO THOUGH, BLR must perform or get some advice from Goo but if you get it at 1.10p that will be nice. remember that in order to win one must also be prepare to lose because i always like it sweet and sour or red and blue. be strong and enjoy yourself. best luck .

is anyone here having trouble buying in size 100k+?

PTHHOLDEN
don't mind the rampers, they are learning hopefully. however their job is to drag the sp down but only for a short term, allowing eagle eyes investors to load their plate more. when the dust cloud settles, then everybody will wipe their eyes and see FAO soaring like a free bird. DO you like flying or soaring?

lizard
i don't have the answer because i did not try that amount.

is FAO A TWIN BROTHER OR SISTER OF GOO?

Thanks to poker player.


Look at the pointers to a successful 1st Drilling.

1. Sudden share price surge on Friday.
2. Drilling Contractors calling in their warrants so quickly - remember these are the guys on the ground.
3.Gary Moore stating that the well is showing encouraging results the main word being RESULTS.
4. New paper articles saying that the rumour is of a substantial find - 2 papers quoting 200 Million barrels.
5. The RNS stating no reason for the share price rise TODAY, why only say no reason for the share price rise for TODAY.
6. GOO stopped drilling over 1000 feet short of what they said they would drill.