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

Bought back into GOO last week, quite an interesting morning watching L2 activity.

Come to Cuba comrades.

Someone is buying blocks of 50,000 through the book. Five orders in the last hour alone at 8.15p. Another one waiting to be filled as I type.

pth

This could see 9p today.

9p that would be a wonderful way to end the day. Good luck all holders.

200,000 order on the Buy side of the book at 8.5p and SCAP with a 50,000 order which should provide support for today. Sell order for 50,000 at 8.95, once that goes the Offer will hit 9p (assuming no new orders or amendments)

too cheap. but needs to be realised.

There has got be more than just the Cuba announcement to explain this activity. In the last few hours some really chunky trades going through. The large AT trades are actually Buys not sells, which is what is pushing the price up. Currently there are other orders on the Buy side of the book for 450,000 at 9.05, 1,000,000 at 9.0 and 270,000 at 9.0; also a 500,000 Sell order at 9.2.

Edit. A new Buy order for 500,000 has just appeared at 9.05

Gold looks to Castros Cuba for oil

Golds chief executive Gary Moore said: It is getting increasingly difficult for smaller sized oil and gas players to qualify for operatorship for any oil and gas exploration and development projects and this achievement gives both Gold and Minmet a considerable advantage in securing identified highly prospective acreage.
http://www.offshore247.com/news/article.asp?Id=8040

Nice finish same again tomorrow.

but do bear in mind that 1 million shares = <100k, which although a fair chunk of dosh for ordinary mortals, in only small beer for an institution ....... whether or not there is a lot of X-institution trading is hard to judge, but i suspect so ...... anyway, has certainly cheered my position in this stock!

past previous highs then i may get interested.

So, you reckon someone is in the know, before us mere mortals.
Wouldn't be the first time!
Let's hope so, otherwise this will drift back after the Cuban news imo.

Uncrossing in auction at 9.2p
Nice finish to the day :)

MMs in charge at the moment, wouldn't be surprised for the SP to be walked down until the traders / PIs appear on the Order Book (if they do)

pth

Was hoping news would be forthcoming overnight.
I am beginning to wonder if this was all just hype! Time to take some profit???

Harry

PIs still wading in through their brokers and not much sign of selling yet. I'm hanging fire for the moment. I kinda expect some orders to start appearing on the Buy side of the order book which will knock the MMs off their perch and lift the Bid.
IMHO of course.

pth

As I typed, hey presto, Buy order at 9.2 :)

pth

Yes, but why would anyone buy at 9.2p on the basis of rumour? Of course, the fact is that they are buying, but why?

Harry

No idea, but the old adage holds true, 'buy on rumour, sell on fact'