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

Status - Colombia
July 23, 2007

The field resumed production following the down-hole pressure test and averaged 486.1 bopd during the month. Optimisation of the down-hole and topside pumps continues to increase production.

July 23, 2007

On July 3, 2007, the AHN signed off on the Rosablanca Licence.

SETS has tobe a law unto itself,a3mill sale goes through and it turns BLUE!

anyone got any more on the Cuba deal?.

anybody making money from this poxy outfit, apart from the directors that is?

cynic- just sell- you are so boring.

so's this f'ing company, but currently feel disinclined to crystalise the loss .... and even if i did sell, sure would not stop me commenting in here, even should you wish otherwise.

anyway, as you are obviously a very very clever chap with clairvoyant skills to boot, when do you see this company actually producing something of substance and sp recovering to say just a modest 15p? ...... after all, i'm sure you believe GOO's undoubted hidden and prospective assets much be worth at least 1.50!

err 2 actually :)

imo this is worth holding despite the pace (we are all frustrated).
if Cuba is pulled off then this could be a big plus.

will that be before or after Castro's death? .... lol!

they received operator status (one of few) in Castro's reign so who knows.

been buying when possible at these levels.

Also added a few since the Cuba deal and also see this as a multi bagger when they find more of the black stuff. cynic has this view he just hasn't come out yet.

come out???? ..... come out of where?

cynic
You are showing your age

confess that neither this company nor the markets in general make me feel remotely gay!

So you're feeling Grumpy.
2517

no, just cautious

bring it on- buy time!.

well done Mr GM.

break out the champagne ..... sp up a whole 0.001

.

Cynic,where can you get champagne for 0.001??????,cheers.