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

Likewise, I'm still in profit (just) but was on double my money a couple of months ago (dipstick). I don't think I'll ever learn. G and F again.
2517

2517- would'nt be too harsh parvizi's got 50m and would have been sitting on a massive profit (@17.5p) didnt sell one share. a good sign perhaps ?. he has been building his stake after recent falls.

I'm still in, slightly down but on the bright side took a good profit in this last year. Fingers crossed history repeats itself!!.

We all may be down a bit you can average down at any time if you think it has hit the bottom I have no worries with any of my oil stocks SER down 48% and other's they will all bounce back over the year, it's a dead sert crude will go up and possibly beyond recent highs $70 to $100 some time in the future so it's only a matter of time.

lets hope when it does goo have increased volumes of production. with NBM can certainly see that happening in the short term but not $100pb yet.

Red earlier now suddenly up 0.75p?

Yes I noticed that it's ticked up again now some buying going on but not large.
2517

70,000 buy just went through over the sp price something is occuring!

laurie
Yes nice bit of buying today if it stay's at this level for a while will be OK for me I want to top up when dosh allows.

surely there must be better bets among some quality stocks?
GOO is an interesting punt that just may make the grade, but that can be said with greater of lesser conviction with the likes of CHP and VOG and whatever other E&P companies you guys like to chase so avidly.

stay very well aware that the chances of success are small indeed.
something of a comfort that Mr P still holds 10%, but even he, a professional poker player, will often lose a lot of money on red hot hands.

cynic
You must be talking about SER and GTL already got those and topping up. The price of crude is down now is the time to top up on these stocks and reap the benefit in the future.

i hold quite enough crap E&P companies in my portfolio (GOO, CHP, VOG) ..... if i'm lucky, one of those will come good ..... if not, then i would hope that the quality holdings will more than outweigh

Cynic the name suits. You obviously bought in to the crap shares for a reason, or did you just follow the crowd.

greed is a word that springs readily to mind!

Can believe that in VOG, when they are at about 40p I might be interested. Have no idea why the ever exceed the 1 not to mention 2.... Clearly an act of lemmins

When positive news flows from this company again, the share price will move, hopefully asquickly as the oil will flow. Good value at 7.75p

even better at 6p

Looking at the chart its possible to trade this not that I have, down 6% then up 6% still holding and will add if it goes below the 7p

From other side shows GOO first in line for Z34 license for ministry approval.
http://www.perupetro.com.pe/negociaciones02-e.asp

good good.