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

janetbennison
If the news is negative the sp will take a battering but will recover GOO have got more than one trick up its sleeve. So yes is the answer.

yes agree. holding whatever XXI results.

Yep. Also holding. Am anticipating good news.

IT is almost impossible for PERU xxi to come negative, GOO knew that. Too much oil in place

Have I smell OIL or is the news coming soon? I will stay put till the party begins.

A number of Plectrum Petroleum PLC Directors bought shares in the Company......

-CHAIRMAN... Mike Whyatt acquired 150000shares....holding...8.18million shares...4.55%

-COO.....Mike Evans bought 100000shares.....holding.....7.45million shares...4.14%

-FINANCE DIRECTOR JIM BAIN bought 100000shares...holding2.2million shares...1.23%
source: LONDON AFX 31/08/06

Please remember that GOLD OIL has signed a joint venture agreement with PLECTRUM PETROLEUM on the 8th May 2006 in relation to the top banana PERU BLOCK Z34
Looks to me, they are preparing for the party too but the funny thing is that nobody else tries to mess up with the chairman. CHAIRMAN always get the lion share. Wisdom i think (lol). However the best thing is that the Finance Director has bought too. Nice one
best luck

Something must be imminent, there has been a lot of 100k shares order going through during the past few hours...mmm I wonder

Harry

Re your post commenting on TA. The rise to 14p last week although not entirely predictable did fit with a bullish pennant formation and the closing price of 14p was exactly as expected once the formation was confirmed.

TA is obvioulsy not infallable, and recognition of the varying patterns is somewhat subjective, but quite often it does work :-)

pth

4M Broker to Broker trade just gone through. Only EVO holding this back on the Offer at 15p,the other four 14.5/15.5p.

pth

Comments noted pth.
It was just that the chart on SBT went against the norm.
But I agree, TA is generally a good indicator.

Harry

The SBT Head and Shoulders formed perfectly, with the exception of the right shoulder. I think it is quite rare to find such an obvious pattern which is not subject to endless discussion as to whether the pattern formed or not. For what its worth, I still think that the SBT H & S will complete, but the completion is clearly not going to be perfect.

pth

Like I said the next step is 16p then 25p after that only GOD knows how far GOO can go. Looking at the chart, it is clear that the sp is requesting permission to reach 16p and breakthrough. Hold on tight. will see. Best luck

Paid 7.4p for my holding and happy to hold. Whatever news comes I'd be surprised if it knocks GOO under the 10p mark.

Paid 7.9 equally happy to hold.

posted on advfn by omr...worth a read , tis good!

At 4pm on the 25th August, they were still awaiting results from the testing, and may not have known the outcome themselves, hence the RNS to that effect. It is now 12.25 on the 1st September, and it is perfectly feasible to expect that further information is now in their hands, and of course, could be released at any time to the public. I don't think there are many people out there who are expecting a dry hole, especially as they are certainly "production testing" something, and I don't think it will be water, so the RNS is confidently awaited by many.

I think a clue can be found in the updates on their website, where they state that the removeable bridge plug has been removed and the tubing now goes down to the bottom of the hole. The tubing isn't just rubber hose, but a very complicated and expensive bit of production kit, so they wouldn't be installing it if they weren't pretty certain. Likewise, the bridge plug is used to separate the 2 fields so they can be either tested separately or worked on without affecting the other, keeping them totally isolated from each other. So that gives us a clue, that there is certainly something that can travel from one field to the other, probably gas, and they want to keep it from influencing the result in the other field. Now that the plug has been retrieved, it means that that particular stage has been completed, so they have to know what is down there. Its now all just a matter of time before we are told officially in an RNS.

tvc15
Cheers interesting post.

Can I ask, is it possible that the rises now (we assume are attributed to forthcoming results) could already reflect the good news and that once it is released there will be a relatively stagnant period?

I have to say whilst still learning I do not understand the comments from PTHolden & co so maybe I will make myself look like a fool here :)

that makes two of us,goo have a lot of things going on,if its all good news or even half good news the bank manager will love ya, good look.

gbrown100 I dont think the present rise reflects the good news as we have not yet had it. I think the rise has been because of the company itself and what it is, and hpefully that it is progressing and growing ie prospects of producing more oil and gas, and builing the business up as it goes along. I definately think the price will shoot up dramatically as and when we receive the expected results, and they are positive. there are a lot more projects going on than the one we awaing the results on. Goo has a long way to go. I am in goo for the longer term, as business does not grow and progess overnight. things progress as you go along. I cannot see goo dragging their feet much longer on this news so hopefully monday will be the day. best of luck to you all.

This was lifted off the iii board in response to the advfn post by tvc (985)

Quote...

lob_on, whoever posted that message don't know what they are talking about - tubing is just 'dumb' steel that has to be run and is used to case off the exposed rock. This tubing then needs to be perforated through with explosive guns in order to allow the well to be tested - not a "very complicated and expensive bit of production kit" as the speil states. The above quote refers to a completion string and that would only be run once the well is proved commercial and even then only if this well has been designed as a 'producer' rather than just an exploration / appraisal well.

Also, the bridge plug has more than likely been used to provide one of two barriers required to keep the well under control (prior to well testing) when hydrocarbon bearing formations are exposed downhole (the drilling mud provides the other barrier) not "the bridge plug is used to separate the 2 fields so they can be either tested separately or worked on without affecting the other, keeping them totally isolated from each other".

This is complete BS and is written by someone who only has enough knowledge to be dangerous!

Regards - GF.

Unquote

Any experts out there wish to comment further??