Gold Oil Share Discussion Threads

[gattaca] 15/6/2013 14:25

TG, Pem, Nimbo, Hugo and quite a few others, great informative posts. Keep it going. I really get the feeling RB is holding back. Expect new ventures for GOO and NBM new wells once licence is approved. Ridiculous share price but I've never felt more comfortable holding this share. In the job less than a year and farm outs, work overs, and financial restructuring. Not bad for a start.

[valentine] 15/6/2013 10:36

Colombia was not so safe back then and workers scarce. No migrant workers are coming in from surrounding coubntries versed in the arts of the Oil business. Back then there were a crowd called Farc who are now about tyo capitulate in havana or sign their death warrant at the hands of Chinese funded Israeli/US executioners..sorry advisors.
Differnet times..good for investors..bad for revloutionaries.
Farc kidnapped and killed strangers never mind oil workers..not quite so much anymore...soon no more.

[pembury] 15/6/2013 07:54

Hi nlm,

I remember Gary Moore talking about the potential to perforate and test new zones at NBM about 6-7 years ago and nothing was done about it, i remember the previous management talking about the potential of the asset and doing nothing about it and yet within a few months the new BOD have put a team on site to do this, increased stake in license to 100%, currently sorting out the technical issues limiting current flow rates and open up and test another well with "potential to substantially increase oil production from the current levels across these fields".

I hope that is a sign of things to come!.

Pem

[nlmbidc] 14/6/2013 20:47

Pem,

This is the first time GOO are doing anything serious with B2 and B4, which is great news - drilling oil from behind the layers left behind the pipe on the Caballos and Villetas formations - as the report put.

The more oil we can produce, the stronger the company will grow. Obvious I know, but our last board declared that they were pleased with the prospectivity of NBM but our current board are aggressively doing something about it.

As well as putting our company on a sound financial footing, the short term growth in production is very pleasing indeed.

The company has been turned from a company that burns funds to one that will generate a solid income stream. We will soon be able to invest earning into new projects, and as we haven't gained any new Acreage since Garry Moore's day, that is a great position to be in.

Wonderful stuff Rudolph. Much appreciated.

nlmbidc

[2admiral] 14/6/2013 20:32

Can't see the point in that imho 10/1 takes time, money and effort and probably won't make any difference the company will still have the same market capitalisation!.
I don't invest on the basis of how many shares i can buy but what the company are doing and how they are valued (not in S.P terms).

Would you really have bought today if they were 15p instead of 1.5p. Much prefer a run from here to 15p lol.

I think the update today for me was a lot about reading what the new BOD have to say after dealing with the issues and with that in mind I am more upbeat about the future. The NB producing fields Gold Oil have could be very good and important for the company imho and the Peru cost carries could be game changers.

[the guardian] 14/6/2013 20:03

Good to see the market reaction and the comments on here today. Most seem to realise that the GOO of today is a completely different animal from the GOO of 2012. We have an excellent spread of high and low risk assets and somewhere along the line, luck will kick in and the current share price will be a distant memory.

A quick look on PLUS shows buys exceeding sells by about 1.75 million. There was a late trade on LSE of 1.25 million at 1.5p. It could have been a trade that was being processed all day, in which case, difficult to categorise as a buy or a sell. If genuinely at 16.32, then it was a sell.

All in all a good day for Gold Oil. Fitting that Rudolph's comment about a new start should see a new name. I favoured Phoenix Oil as well, but that is not the name that Rudolph has in mind.

Interesting that someone mentioned that the low share price could be putting new investors off. I would be happy with a 10:1 consolidation which would put us at 15p. That doesn't appear to be on the agenda at the moment but it would also make the trades more liquid - easier to buy or sell 100k than 1 million.

My shares are in a Barclays nominated account, so could someone please post the AGM agenda and resolutions when convenient please.

Have a good weekend all.

[2admiral] 14/6/2013 18:15

Impressed with the Nancy Burdine update, they already produce a good amount of oil for a company it's size. To think they could double these figures for not a load of money is very encouraging.

[redhill] 14/6/2013 18:10

Sorry guys but what happened to the balance sheet and profit & loss account that appear in the full years results?

[pembury] 14/6/2013 17:28

Not heard Burdine 2 well mentioned before so this is potentially a new well that could come online in the near term. Testing of B2 and B4 started first week of June.

You wanted oil production increases nlm. By taking 100% in the license they increased oil production by 72% to the current average of 500bopd since February, with potentially around a further 100% increase possible by year end.

[nlmbidc] 14/6/2013 17:04

Mojo

Yes the number of shareholders is correct.

That ball park figure of 1387 is about right.

[pembury] 14/6/2013 16:02

Hugo. Guess as soon as UOG complete three phases GOO get their $3.6m back in future.

[mojomonkey] 14/6/2013 15:43

Is that statement right at the end of the report? There are only 1,387 share holders, it total?

[hugomaracuya] 14/6/2013 15:31

Pem. As we are still operators, I think we would still be liable for the committments in the contract, hence our money will still be in ESCROW. When UOG take operator status, maybe that's a posibility.

[pennstreet] 14/6/2013 15:21

why no change in price ?? Must be a large float still hanging around.

[pembury] 14/6/2013 15:14

About 1.8m Buys on PLUS.

cheers nlm

Anyone know who PG & I are? Following gattaca's post on the basin area of Rosa Blanca it seems some of the main players are doing farmins to assets there. Chevron & Exxon etc to name a few.
The interest is for unconventional plays Shale i think.
Goo have a deal but did not rns it?, however small they are still carried so might have an interest in some wells there also- they have done some 3D seismic. In talks to agree the Exploration programme.

[nlmbidc] 14/6/2013 15:14

Pem

That's the way i read it - regarding the $3.6 million in escrow.

[pennstreet] 14/6/2013 15:10

pembury - how many buys on PLUS ?

[pembury] 14/6/2013 15:01

Does this mean this $3.6m will be added to Gold Oil's coffers as UOG are funding remaining three phases?.

"The company has a bank escrow account of $3.6m as a guarantee which will be released after fulfilling the exploration commitments".


Buys rolling in on PLUS not that it matters.

[j24601] 14/6/2013 13:16

Having a few of these now. Worst is over from what I gather.

[an1mal] 14/6/2013 11:50

Hugo - here, here. I guess our re-rating will come with UOG's news that they intend to drill a well ASAP and do some more seismic at the same time - hopefully this FY.

[hugomaracuya] 14/6/2013 11:43

Well, I think this paragraph sums up my feelings completely:

"I consider my appointment, the recent fund raising, and the re-listing of our shares as a brand new start for our company. In many ways I feel a new company has been created with new management and ideas which hopefully can continue to add value to our existing asset base in South America and add exciting new assets in the future."

A BIG "Well done, and Thank You !!!" to Rudy and the BoD. Also to all who helped in the fight, especially Moosely, who brought it all out into the open. Without that tip-off, we would have been totally blind to what was happening until it was too late.

[pembury] 14/6/2013 11:31

hopefully Randaman, who knows but you would have to give credit for what has been achieved in the first six months.

The company has always had good prospects asset wise but it is clear you cannot only have that without decent trustworthy management. Hopefully under new leadership they now have that --time will tell.

[pennstreet] 14/6/2013 11:30

All this optimism, and still NO market reaction ? Are we going to see some blue today ??

[randaman] 14/6/2013 11:29

Pembury many thanks, looks like we are past the worst and hopefully the only way is up from here.

[pembury] 14/6/2013 11:18

Randaman. We have been told the debt has been cleared now, cash in the bank and $6m to come from the UOG farmout. The current cash, revenue cash from oil production and UOG cash will be used to develop the assets/ acquire new opportunities whilst keeping low overheads. The admin costs have also been reduced substantially. I look forward to the first set of results under new management, i am guessing they will be hugely more impressive taking everything into account post Dec 2012 and potential to 'significantly increase oil production' at NBM Colombia.

As it has been said the company are in a much stronger position than they were this time last year, some are being put off by the low share price!. A long way to go but the foundations the company are building slowly seem to be a lot brighter than before.

NBM seems to be a big focus for GOO now, hope so!