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

21 mins. to be precise, Explosive. Anyway chaps, most likely scenario probably lies somewhere in between - maybe Mr. P or ANOther big trader has trimmed SOME of their holding either to take some profit or reduce their risk exposure. I think any gambler would do this, at some stage.

As most of us are aware, very big trades are reported towards close of business so I wouldn't take too much notice of those today. We just need to wait now until the news starts trickling out or is announced all at once via an RNS. Continue to monitor with baited breath and lots of curiosity.

Second-guessing can be sooo frustrating, at times!

what would GOO have to gain by passing on price-sensitive info? ..... none at all

GOO, a company owned by shareholders nothing. Employee of GOO thats different, whos going to know. Sure information is leaked to those who can afford it all the time, helps keep the rich, rich....

markus- still rather be in than out not bothered with short term movements but agree it is an opportunity here imo. i will monitor sp closely with a view to increasing again. i remember the situation before when parvizi bought his last 6 million odd down about 8%. MM can seriously play with your mind. pi's panic selling is a dream for them.

still bullish on goo potential.

Agree with huge potential, Lizard. No arguments there whatsoever. Safest bet is probably to buy soonish but with a medium to long term hold, in mind. Would you agree, sir?

Looks like Z34 has been approved by Perupetro. See rns

EXCELLENT NEWS!-

cant tell you the delays were getting me concerned slightly but finally goo's biggest asset gets a 30year E & P license.

Glad i had the SCOTCH,looks like i topped up just in time,guess time will tell

At the moment it looks like pi are waiting for the bigger news like the xxi.

i reckon the the sell order still has'nt been conpleted yet!

It's not good. rns out.
2517

Just shows the small invester was last to know.

and of course you will now not be able to sell ...... glad my holding was quite modest, but this is the inevitable problem with mini-minnows (as i have regularly commented)

Another cockup from a small explorer.

Becoming a bit too commonplace. Bad luck those holding.

oops :( Oh well, I had a miniscule holding anyway at 6.9p so I would imagine it wouldn't drop that far...

Whilst I'm not buying anymore I am sitting on mine which I paid 6.45p, a few days ago I had more than doubled my money, greed got the better of me, and of course I regret not selling then, but imo GOO will come back from this disappointment.
2517

Apologies to anyone that has lost today very disappointing news all that can I can say is that GOO wasn't ramped not on this board anyway.

Markus,

you must be feeling a little releived, still on the positive side, they are generating cash, have other interests that will be cash generative and no one ever gets 100% strike rate. Thank-fully my holding modest too, but most of my profit now gone. Good level for the long term though.

Driver-----you have nothing to apologise for, we make our own decisions re buy / sell. Thanks for all your posts, it would be appreciated if you continue posting, unless you're moving on that is, all the best.
2517

A little unfair of them to issue the drilling report at 10.20 especially after the good news RNS at 7.00am I thought significant news such as the former should have been issued prior to the open