Gold Oil Share Discussion Threads

[the guardian] 12/6/2013 12:10

Hence the post that started the discussion:


The Guardian 12 Jun'13 - 07:39 - 7314 of 7325 0 0 edit

gatt, did you make a mistake typing 90 wells? Even at 20%, it's only enough for two wells.

[pembury] 12/6/2013 11:01

90 offshore wells for $30m i think we can work out it's an error

[the guardian] 12/6/2013 10:52

I know it does but that's not how the post reads!!!!!!

[pembury] 12/6/2013 09:41

sorry TG i think the $30m refers to the seismic costs which of course will be paid by UOG etc

[the guardian] 12/6/2013 09:34

I mean that the way I read gatt's post, seismic plus 90 wells costs $30m.

[pembury] 12/6/2013 09:31

I remember the 90 wells mentioned before i think gatt is right with the EIA.
Don't forget the block is the size equivalent of 17 North Sea blocks so huge.

[the guardian] 12/6/2013 09:25

Sorry gatt but that is not how I read it.

[nlmbidc] 12/6/2013 08:13

News tomorrow on 13th!!

[pembury] 12/6/2013 08:06

and GOO are fully carried for three phases! Even the 3D costings is valued more than the company without the other interests/ carries.

[gattaca] 12/6/2013 08:04

TG?, they have to present an EIA assessment for a possible 90 wells. They will drill only a few of course. The 30 million dollars is the cost of the 3d seismic.

[chitty] 12/6/2013 07:52

Is it going to be jam tomorrow? Certainly not holding my breath, wish I had the confidence of some other shareholders.

Good Luck

[valentine] 12/6/2013 07:48

Annual results before the 13th is cutting it fine..sometime during the day?? Unlikely. Why not say on the date then?

[the guardian] 12/6/2013 07:39

gatt, did you make a mistake typing 90 wells? Even at 20%, it's only enough for two wells.

[gattaca] 11/6/2013 22:37

It's worth noting the significant costs in exploring Z34. An important trade off for that 20%. Not that the market cares.

British oil company Gold Oil estimates the 3D seismic surveys and conducting 90 exploratory wells in Block Z-34 (Sea of ​​Piura) will have an investment of U.S. $ 30 million.

The budget was released as part of the presentation of the environmental impact study that the Ministry of Energy and Mines gave the National Water Authority, the Directorate of Ports and Harbour and Marine Institute of Peru (Imarpe) for evaluation and observation.

[nlmbidc] 10/6/2013 23:57

Pem,

As we saw from the link that Gattaca put up at the week-end the production is down because of the work-overs at Burdine - averaging around 360 bopd - so that's only about 25% up. Not enough to excite new investors. Maybe higher rates from Burdine 1 and 5 will be announced this week, which will help.

We need a license extension on NBM and plans to drill Nancy 2 - then there will be some interest from new investors.

nlmbidc

[the guardian] 10/6/2013 18:11

An1mal, your thinking seems to be aligned with mine. I've bought the same amount since we came out of suspension but I've finally run out of funds and my other shares are so far down that it would be pointless selling them to reinvest here. New blood required. We need instituations to absorb some shares for a few years but they won't touch us with our market cap and certainly not with our history.

I am thinking of putting an ad in the post office window - investors required for small oil and gas company. No previous experience necessary.

[pembury] 10/6/2013 14:07

This year so far they have increased oil production by over 70% and even that has been has gone unnoticed much like everything else.

[nlmbidc] 10/6/2013 13:49

You can call the company anything you like, but as sure as eggs are eggs the share price would go up significantly if production went up significantly.

Nlmbidc

[an1mal] 10/6/2013 12:36

Thanks Pem for the reminder on XXI - I'm growing impatient, that's all. We've never had it so good and it's time for the share price to reflect our prospects. A name change may be what we need.

[pembury] 10/6/2013 12:20

An1mal. I asked about the Vale deal and was told this will include Gold Oil being carried for the seismic which is due soon and two wells, add that to at least one well offshore then GOO are fully carried for seismic on XXI and Z34 and at least three wells over the two blocks.
So on that basis Gold Oil have no cash commitments in Peru for probably over the next three years which is what RB was on about these deals freeing up resources to go elsewhere.
$6m cash to come from the UOG deal and cash from production (now at 100% interest) so should be looking much healthier assuming debt cleared which it has someone suggested on here?.

As TG said can you ever remember Gold Oil being in such a strong position?. It's a shame the share price does not reflect these significant advances since January.

[an1mal] 10/6/2013 12:15

I think we need some new investors here – gone very quiet on the market. I wonder how many of the trades since Feb have been from a small hard-core of loyal PIs? I've bought another half mill or so and keep holding. How many on here have done the same (rhetorical).

Will a comprehensive update from RB be enough to firm up the share price or will we have to wait until UOG announce their plans for Z34 (seismic vs. drill) for the fireworks to really start. I'm not holding breath any more on Vale – they don't appear to have done a thing for over a year and I wonder what sort of priority they put in XXI.

So, our immediate future boils down to NBM and increased production – why couldn't previous management have done the work required on NBM to safety net our Co – beggars belief.

[pembury] 10/6/2013 09:19

"No later than Wednesday 13 June 2013"

[nlmbidc] 10/6/2013 09:12

News this week.

Wednesday or thursday?

The last rns stated Wednesday 13th but the 13th is on Thursday.

I guess we'll know by THursday!!

Nlmbidc

[the guardian] 09/6/2013 08:41

Extend the licence and drill Nancy 2 - Bingo!

[2admiral] 08/6/2013 20:07

Especially with Gold Oil now holding 100% of the license!