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

chazza- imo we should have a good understanding about XXI, Nancy1 and Z34 by end of august 1st week september. this imo is the reason why T trades are coming in slowly.

would suit me as am off cycling in Perigord from next weekend

see you in sarlat then cynic.

best luck to everyone and to myself, of course to GOO as well. for those of you
who have disregard or undersestimated GOO do not miss the party but take time to do your homework.

thanks lizard

bid 10p online- i think we could see some gradual size coming back. in build up to month end and news.

Lizard i will get more if they fall to 9.50 if not will sit with what i have

I think the sp is requesting the go ahead to 12p urgently, will see but when 12p is reached; 16p will ne the next target before asking for 25p. is that difficult?
nancy will produce minimum 200bopd, with a possibility of 500bopd. now two tankers of 500bbl already in place. is that being ambitious? so far i did not mention peru where the big party is. little fish can fly. i will wait and remain calm, but i will not fall asleep, fear of missing the party. bbl

Nice tick-up.

not the rumour mill again?.

the way is up

HARRYCAT, re your post 809 about Mr. Parvisi and his large position:

Obviously I cannot read Parvisi's mind, but the size of his position suggests to me that he is looking to stay in for the long term and is hopeful of multiplying his money by a multiple of 100%. You simply cannot turn around such a large position on small percentages, as the size of the holding would flood the market - unless he plans to spend a lot of time dribbling the stock back out into a rising market, which would be astonishingly labour-intensive, and if he were that nervous about the share, he wouldn't have bought in the first place.

I work in institutional custody and see that many, if not most, institutions keep a core holding for a long time and occasionally buy and sell a few off the edge as prices move up and down.

I take PTH's point that the MM/broker would work the position, but all the same this is an enormous amount of stock. Unless GOO goes completely belly-up then I think you'll find that Mr. Parvisi will still be holding for quite a while.

All IMO, please make up your own mind.

soultraders
have you join the GOO party?

I have !!

SMILER
enjoy the sweet and sour party.

Tell me about it !! Got OXS !!

REFRESHING OUR MEMORY

On the 1st March 2006, GOO farmed into NANCY, BURDINE, MAXINE OIL&GAZ field in Southwest Colombia. These three fields were discovered by TEXACO and put on stream in 1976.

- In 1976 Nancy 1 Well produced initially at 1400bopd and dropped to 230bopd by 1978.

- When pumping was added, the production rose to 670bopd

-Burdine and Maxine had similar history

-GOO's plan is: to mobilise a workover rig in Q2 2006 and re-enter Nancy1 Well to commence production from the existing horizons and perforate some NEW OIL BEARING HORIZONS that have been identified from the logs.

- A jet pump will be installed to boost initial production

- Initial production is expected to exceed 200bopd with 500bopd set as a target

Here we are talking about COLOMBIA; not PERU but remember the big party will get into full swing in PERU. GOO's areas of interest are BRAZIL (think samba or carnival), Colombia, PERU, and litlle Spain (latino dancers).
That's all as a refresher for NANCY1
Happy carnival to all and to myself
bbl

SMILER
have you got OXS? goodness, gracious, that's a fast riser today. A cool 33% rise today. excellent recovery journey. i do not hold OXS but was checking it from time to time. SMILER, i bet you will be smiling all the to Bank. best luck

Thanks still away to go yet, need 32/33 also thinking of AAU ??

SMILER
THAT FOR SURE, or should i say banker sure, will check AAU. wish GOO the same eagle rise. Share MAG always recommend OXS as BUY but i was a bit too cautious as i have more appetite for little fishes if you know what i mean.