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

thanks driver - next week could be good - more news i expect as no web site up date

its COMING its COMING!!!!-

HOLD TIGHT GOO'ERS!

I seem to remember someone else said that on the 24th April (#3047)!!! Sadly nothing happened.
Still, I suppose if you keep saying it, eventually something must happen.

A nice buy at last knockings!

Big Bucks.

something brewing?.

They have shortened spread and pushed sell price up. Do they have a buyer they are trying to secure shares for? Or am I just getting carried away at the sign of some improvement?

could be a bit of both wf. a buyer and news sniffing around.

Another tick up!

are thay pushing the price up.

Nice to see goo up, but why is chp doing so well.

no idea driver on chp. not much planned this year- no production no drilling. failed acreage (estimates of 400MMbbl and 120p per share and found nothing). abandoned acreage at cost. board sackings/ resignations.

retail favourite it seems.


higher mkt cap than goo?.

lizard
I'm out of chp, you still have time to get in on ser before it multi bags, I hope.

ljs- have you emailed gm recently?. to find out when things will be updated?.

cheers- lizard.

Last was three weeks ago with government delays and tarred by other companies well failures.

Website has been updated!

it's the f'ing sp that needs reviving not their poxy web site!

Heavy selling today,can anyone please explain why goo went into SETS?,did they have a choice?.

yes. and they are going back to norm. there was an article in the independant saying about its a waste of time for aim stocks. i agree.

it has actually reduced liquidity not increased.

anything decent would not be put on a web update before rns.

may get the proposed reserve upgrade soon on Nancy field now pressure test completed.