Circle Oil Share Discussion Threads

[olieslim] 08/4/2016 17:30

Who's the seller btw? Flattening the grass for a soft landing? Hope he gets stung.

[olieslim] 08/4/2016 17:25

Payment from Egypt would be nice, for starters. Patience, it appears to being sorted. Hope it gets here on time. GL

[gerry hatrick] 07/4/2016 11:46

Petroceltic board recommend offer of 3p to be accepted.
The stock was 130p last March and driven down to 7p, so board accept a further discount of 83% to Mkt. value.
So, where does that leave Circle oil in a similar predicament of high debt to Mkt Cap ?
News long awaited from the BOD about CPR/Tunisia and debt restructuring - does not bode well :( .
This could become a penny stock soon.

[flyingbull] 30/3/2016 17:20

The April oil stock competition is now on! Deadline for entry is tomorrow at midnight! Good luck!!!

Previous competition results can be found here

[flyingbull] 30/3/2016 17:20

The April oil stock competition is now on! Deadline for entry is tomorrow at midnight! Good luck!!!

Previous competition results can be found here

[marunam2] 30/3/2016 11:20

Good point Gerry, Surely that devaluation has to be adjusted, and add exchange costs , then again !!

Think that the US companies are owing trillions in debt and a heck of a lot have now defaulted big time.

[steelwatch] 30/3/2016 09:10

Crunch time approacheth:

Many of the reviews have concluded, or will soon, and the results could be known as soon as this week.

“There isn’t anyone in the oil independent sector that will be very relaxed at the moment,” said Thomas Bethel, a partner specializing in energy finance at Herbert Smith Freehills LLP.

[gerry hatrick] 29/3/2016 18:26

Would that be the EGP that was devalued by 13% recently..........

[steelwatch] 29/3/2016 12:43

Egypt’s $3.1b Debt to Foreign Partners to Be Paid Off in EGP

Monday, 21st March 2016

Engineer Mohamed Al Masry, Head of the Egyptian General Petroleum Corporation (EGPC), said that Egypt’s financial debts to foreign partners amount to $3.1b, Egypt Oil & Gas reported. He explained that the government will continue to pay off its debts, which will increase foreign partners’ trust and would consequently lead to more foreign investment in oil and gas exploration projects in various concession areas.

In an exclusive statement to Egypt Oil & Gas, Al Masry said that most of Egypt’s overdue debts are being paid in the Egyptian pound rather than in foreign currencies, adding that foreign partners understand the situation because of Egypt’s dollar shortage.

[olieslim] 28/3/2016 14:57

Egypt plans attracting $14bn-investments, signing 20 new oil agreements- PM

Published Monday, 28 March 2016 14:38 | Written by Mahmoud Shaaban

Egyptian government is expected to sign 15-20 new oil agreements during the upcoming two and half years with investments estimated at US$14 billion annually, Prime Minister Sherif Ismail said Sunday.

The PM made these remarks during his speech at the parliament in which he discussed Cabinet's programme for the next two and half years.

On Sunday, the Egyptian government presented its political, economic, security and social programme of Egypt's vision 2030 to be endorsed.

The parliament must evaluate the programme within 30 days and issue its decision to either accept it, thus renewing confidence in the current government, or to reject it , thereby dissolving Ismail’s cabinet.

The government targets securing state's growing needs of petroleum products through accelerating execution processes of the structural and financial reform programme of energy sector.

The government also plans to provide Egypt's need of petroleum products by boosting crude oil and natural gas production through issuing a number of international bids annually to search oil and gas.

Cabinet's programme aims at developing industry of refining oil and petrochemicals through adding eight new projects with investments worth around US$7.5 billion. The Cabinet plans covering 90 percent of local consumption needs of petroleum products and to enter into production from 2017 to 2019.

Ismail added that government's programme for oil sector plans to finish delivering natural gas for around 2 million homes until the end of 2017-18.

[olieslim] 28/3/2016 14:57

Egypt plans attracting $14bn-investments, signing 20 new oil agreements- PM

Published Monday, 28 March 2016 14:38 | Written by Mahmoud Shaaban

Egyptian government is expected to sign 15-20 new oil agreements during the upcoming two and half years with investments estimated at US$14 billion annually, Prime Minister Sherif Ismail said Sunday.

The PM made these remarks during his speech at the parliament in which he discussed Cabinet's programme for the next two and half years.

On Sunday, the Egyptian government presented its political, economic, security and social programme of Egypt's vision 2030 to be endorsed.

The parliament must evaluate the programme within 30 days and issue its decision to either accept it, thus renewing confidence in the current government, or to reject it , thereby dissolving Ismail’s cabinet.

The government targets securing state's growing needs of petroleum products through accelerating execution processes of the structural and financial reform programme of energy sector.

The government also plans to provide Egypt's need of petroleum products by boosting crude oil and natural gas production through issuing a number of international bids annually to search oil and gas.

Cabinet's programme aims at developing industry of refining oil and petrochemicals through adding eight new projects with investments worth around US$7.5 billion. The Cabinet plans covering 90 percent of local consumption needs of petroleum products and to enter into production from 2017 to 2019.

Ismail added that government's programme for oil sector plans to finish delivering natural gas for around 2 million homes until the end of 2017-18.

[ifthecapfits] 24/3/2016 11:30

there may be hope yet.

[olieslim] 23/3/2016 14:49

Help is on the way.

[bengal1] 15/3/2016 16:01

Look a like difficulty paying trade creditor

[jotoha2] 15/3/2016 13:09

Last one out please turn of the lights!

[ifthecapfits] 15/3/2016 11:37

Circle gets a mention.

hxxp://www.malcysblog.com/2016/03/oil-price-cairn-energy-circle-oil-range-resources-aminex-finally/

[greentrident] 15/3/2016 10:47

hxxp://www.proactiveinvestors.co.uk/companies/news/123678/circle-oil-plc-hoists-for-sale-sign-as-ifc-gives-debt-leeway-123678.html

[deepwildcatter] 15/3/2016 08:07

Egypt's central bank devalues the pound by 13 percent in a step toward floating the currency

[gerry hatrick] 14/3/2016 14:45

Egypt devalues its currency by 13%.
I hope we are paid in $'s and not Egyptian pounds, that is if we are being paid at all !

[mandm10] 09/3/2016 12:45

What about selling Egypt??? All we need is a buyer who is in position to factor the receivables and take over our assets, which could be worthwhile if the overdue drill results are favourable and we have secured additional licence

[marunam2] 08/3/2016 17:01

$41-$43 resistance to break I feel.

There must be a lot of inventory to go through and shale production needs to keep dropping.