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
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?

Here is the whole article, scroll down to GOO, that's about it for GOO.



London shares - midafternoon features

LONDON (AFX) - FTSE 100 risers
Enterprise Inns 1,022 up 28
Deutsche Bank 'buy with target upped to 1,200 pence from 1,060
Wolseley 1,138 up 49
Stock overhang cleared; US housing market recovery hopes
BT Group 248 up 3
Yield considerations
GlaxoSmithKline 1,496 up 29
Merrill Lynch 'buy'
Persimmon 1,244 up 5
Merrill Lynch 'buy'
Slough Estates 663-1/2 up 1
Merrill Lynch 'buy' with target upped to 750 pence
Anglo American 2,322 up 44
Citigroup 'buy'
Unilever 1,258 up 10
Morgan Stanley ups ests
Scottish & Newcastle 550-3/4 up 3/4
Deutsche Bank positive
BAT 1,457 up 10
Deutsche Bank positive

FTSE 100 fallers
Corus Group 392-1/4 down 8-1/4
H1 results disappoint
Drax Group 900 down 2
Morgan Stanley cuts target to 745 pence from 765
Rentokil Initial 150-3/4 down 3/4
Analysts' downgrades yesterday
British Airways 408 down 6-3/4
Profit-taking

FTSE 250 risers
Filtrona 287 up 18
Better-than-expected interims; UBS 'buy'
Johnston Press 400-3/4 up 18-1/4
Recovery hopes after H1 results
Luminar 540 up 21
Panmure Gordon repeats 'buy', 640 pence target
Helphire Group 397-1/2 up 14-3/4
FY results Sept 11; Lehman starts coverage with 'overweight' & 443p tgt
JD Wetherspoon 450 up 9
FY results due Friday Sept 8; Lehman 'overweight' from 'underweight'
Paragon Group 642-1/2 up 16-1/2
UBS initiates coverage with 'buy'
Mitchells & Butlers 553-3/4 up 1-1/4
Morgan Stanley ups target to 520 pence from 480 & ups ests

FTSE 250 fallers
RHM 280-3/4 down 9-1/4
ex-dividend
Inchcape 497-1/4 down 10-3/4
Buys 75.1 pct in Russia's Toyota/Lexus ops, Dresdner Kleinwort downgrades
LogicaCMG 156-1/4 down 3-1/2
In-line interims, some margin disappointment, mixed broker reaction
Cobham 173-3/4 down 1-3/4
Withdrawal of speculative interest
Wolfson Microelectronics 476-1/4 down 4-3/4
Talk of slowing ipod sales
Cobham 173-3/4 down 1-3/4
Bid talk dies down

Other risers
Hemscott 52-1/2 up 11
Agreed 53 pence-a-share cash offer from Centerpoint Data
Chieftain 142-1/2 up 17-1/2
Bumper half-yearly results; dividend up 60 pct
Radstone Technology 366 up 41
360 pence-a-share approach from Eurotech
Gold Oil 14.75 up 1.50
Positive production testing update from Peru thought imminent
Secure Design 162-1/2 up 10
Buys 300,000 shares in Fingerprint Cards
DA Group 38 up 2
Upbeat AGM statement
Ridge Mining 39 up 3
Sells 50 pct of Blue Ridge project for 42 mln usd
Adventis Group 38 up 2
Contract win
James Fisher & Sons 510 up 16
Bumper interims; Teather & Greenwood 'buy'
Hunting 405 up 11
Teather & Greenwood 'buy'

Other fallers
Rotala 1.37 down 0.50
Interim losses widen year-on-year
Molins 99 down 13
Mixed H1 results statement
Playwize 8 down 0-1/4
Swing to FY losses
Homestyle Group 116 down 2
61-week loss; Seymour Pierce 'sell'
Costain Group 47-3/4 down 2-3/4
Swing to H1 losses
Clarkson 971 down 87-1/2
Interim pretax profits down 29.5 pct
SMC Group 142-1/2 down 7-1/2
Interims; awaiting bid developments
Pace Micro 52-1/2 down 1
FY results due Monday
Beazley Group 112 down 1-3/4
Interims pretax profits fall, hit by weaker dollar
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