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

I think there are alot shorters out there who have held these long enough to make alot profit are selling to make the shares drop so they can get on boat at cheap before the next round of high ride. The MM appears to be very reluctant to drop price which must be a good sign!

There's a lot of red today could do with some good news!

agree its been a while but i expect nbm this week. and perhaps z34 in this or next. situation on xxi anytime probably with nbm update. spoke to burchell they have approval just waiting on new piston this was last week, so may be in place?.

Strangely, although I now have enough of these, I tried to find out what price I could get by putting through a buy online with Selftrade, but the system refused to accept any quantity & said I had to phone the dealer.
It's not as if trades are going through at such a rate that they can't keep up!

perhaps Mr B knows far more than us and has bought just a one-way ticket to South America ...... I recollect similar was quite common just after the war too!

cynic- are you still on medication.

for what? ..... manic depression .... lol!

Think I must resist the temptation to try to catch the falling knife

Good news expected this week, just got to keep the faith.

they've been saying that for ages and ages on the SEO thread too! .... lol

cynic
Good news soon on GOO and SEO hopefully.

mentioning SEO in the same breath as good news and GOO puts me right off my dinner! ...... I note SEO was down another 5% today - or was it more?

agree syd- sp hardly surprising. chart looks like a h s formation to me. agree nancy should be out this week!.

z34, xxi?

is the head still attached or has it paid a visit to mme guillotine, with blood spurting everywhere?

Cynic - You have been having too many french holidays.
As you know we just hang 'em high these days!

more seriously, is h+s indicative of a rising or a falling price? ...... my untrained eye says the latter, for surely that would just be following its current trend ...... sp is far too wild for any meaningful support level(s) to have formed and 200 dma, though rising nicely is a further 3p lower

thought you would be more into the tyre necklace

Good news wanted , or the sp will slip down . on most of these threads its the same . If i could have a pound for every post saying "news soon" i would not have to trade .

hope yopu don't hold SEO either then! ...... btw, contact marcus if you have not already done so re golf; suggest Belfry and/or Hollinwell