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

explosive- do you subscribe on stockwatch as you get timed out otherwise?. i use tdw they give you a live price but not constant streaming price of bid offer volumes etc.

I don't pay anything and to he honest only ever time out after about and hour. Clicking around the investors room and stockwatch, its very rare to see a timeout.

;

apologise for space as this has seriously f**** up my computer.

i used to use that. but had to have software on laptop re installed now timed out after about 2-3 minutes?. annoying fine before.

Your not dial up are you lizard?

May see 10p to buy wednesday , time to top up before news .

not if nancy comes out and positive. expected this week.

Interesting that the MM's lowered the offer price towards the end of trading yet kept the bid price static (10p-10.75p).

Is it on thursday the news? well, i will wait then. Nice GOO.

Well, we had not so brilliant news last time. So maybe the timing is right for something positive now? :o)

One thing everyone appears to have forgotten is it is 0600 am in Colombia at present so still a full day for any news.

i hope they get up 7.00am and do some work. kidding

So they are exactly 6 and a 1/2 hours behind us then, Laurie? Strange time zone!!

:o)

6 hours actually.

www.timeanddate.com/worldclock/difference.html?p1=66

The point is their just finishing breakfast so keep your fingers crossed.

Sorry, it must've taken Laurie 30 mins. to make his post then!

Anyway not expecting any news today. But possibly by end of the week?

A seperate thread. Has anyone been affected or have any information on the Berlin Bremen decision in respect to ISA's?
At Ombudsman level but have no proof of broker errors. I keep hitting institutional walls.

Talking of strange time zones - Goa is 5.5 hours ahead of UK. To tell the time - you simple read your watch upside down. Its true !!