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

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.

Online limits are 100k to buy and sell 250k.

cheers tvc15-

TV5
only god knows how far GOO will go. i said that the sp will reach quickly 16p then 25p but after that; GOO's share will become a free bird and can fly as high as it can. too much value here. it's gonna be a long party if the business system remains the same.

SP stood up very well today. I expected a small drop today and 3% or so fits with my chart analysis thoughts (although also half expecting something of a wipe out to be honest). See what tomorrow brings, should see the flow test results soon, perhaps within a week or so. MMs made a few bob on this one today!!

Edit: Should also have added that most resource stocks were down today, so to hold most of last weeks rise bodes well.

pth

going strong keep with it,i may get my flat out of it, if i can hold on, and thers plenty of good news.good luck on your shares.

dave the goo have held up very well for the day and after close they were selling goo at what I bought my last lot for at.1375pence. this was at close on friday. Hoping for some news soon. hang on there to everyone cannot be long now. I am ready and waiting. I have invested in a laptop today, I am now going to try and suss out how to get it up and running. This will give me more freedom. I am spending too much time at home in front of my computer, when really I need to get out and do more work. good luck everyone.

home page, goo will explore, for appraise, develop and produce oil and natural gas and build up the capital value of its projects to a point where it can pay dividends or be sold to a new buyer.wot do you think.

i think if they can deliver that strategy we should do ok. 5yr hold.

that would be nice in 5 yers to see them over 2.00 like vog but i dont think it will take that long the way its going, if it keeps up.

i think the brazil jv with proen could be good for goo. round 8 bidding in november.

This is the best time for GOO to come up with some excellent news but no one can underestimate GOO imho. bring it on. the news

?

pth - Not sure chart analysis is much of a guide at the moment.
The market is up today and many of the exploration stocks have ticked up, even though they have no news. At some point, when the market dips as a whole, then profit takers may cause the sp of GOO to dip. I think it should bounce back again, however, just on sheer speculation.

http://www.advfn.com/p.php?pid=nmona&cb=1156952149&article=16651329&symbol=LSE%3AIVK

Gold Oil 14.75 up 1.50
Positive production testing update from Peru thought imminent

This is mentioned in the above link.

tvc15 - Link has to be password activated.

Any other news in the article?