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

Oi, you foolish old Cynic, bought back in recently and amazingly in profit, so leave the little worm alone. Could quite easily scoot back to 16p on bugger all news and a half assed rumour :)

pth

Horrid little worm!!!
Isn't oil made from the ancestors of these horrid little fellas?
Plus, where would we be without them? Gardens, agriculture etc etc?
Also, isn't there one in a particular south american bottled beer???
Even the Two Ronnies paid homage to them (The worm that turned)!
I'll stop ranting now.

Still holding GOO. Have filed it away under 'Possible gusher'.

harry ..... no; oil is made from herbiage what worms eat!

pete ...... as you said, all seemingly driven by rubbish n hype, though Mr P holds an obscene amount officially, and allegedly even more in nominees

all in nominees. i would if i were he.

most if not all may well be by way of CFD

Good finish.

Research Page updated with the increase in Man to 3.24%

Man Financial Ltd 15,009,205 3.24%

cheers driver.

mentioned in the Sunday Times about Gold Oil and excitement in regard to Cuba oil exploration deal- in the tipped portfolio.

cheers lizard- noticed the tip.

And here it is.

The Times heaven & hell section

'Gold Oil has generated some excitement by involving itself in a joint venture to explore for oil in Cuba'

hardly a recommendation to buy

he tipped it and still has the stock in his portfolio. -

yoyo.

all the way up and all the way down AGAIN.

lets hope it goes all the way up again.

hope so because its getting annoying this manipulation.

how can the sp be LOWER than the price before the news?. does this therefore count for nothing?.

This company started off well for me. I can remember buying shares at .5 and a half pence, and not long afterwards they were up to .17 and a half pence. Unfortunatly I kept all the shares and now look at them. Below 7pence again. The only way this share price is going to recover is by good news, good publicity and demand. The gambling man mr. p If he is holding his shares on cfds, then it must be costing him a fortune on the interest the company will be charging on the money. Unless he bought large amounts of shares when they were high and went short, then he would have made a fortune. Man group are a large holder in this one. This must mean they have high hopes in the company. I think the best thing to do now is wait and hope. Good luck all holding.

entering the drilling period. so surprised interest not arriving yet.

yawn!