Circle Oil Share Discussion Threads

[coxsmn] 20/5/2016 18:09

GAME OVER for Shareholders, Circle oil the next Afren.

[gerry hatrick] 20/5/2016 16:15

Nice little earner today.............for the MM's though. Appx 39m shares traded

[steelwatch] 20/5/2016 15:53

In light of events, have to agree dwc.

[steelwatch] 20/5/2016 15:19

SP Angel via proactive today:

Circle Oil (LON:COP – 0.62p) – (BUY – 11p) – Creditors Now Key
Circle today's update is a sanguine reminder of the potentially destructive power of debt, when the risks are not managed properly. The core value of the assets is significantly in excess of the debt, on a forward basis, but as they represent here and now, given that potential acquirers smell blood in the water, they are significantly discounted.
This has always been the issue with considering an investment in the Company. The value is there, over and above the debt, but it is a question of whether they will be allowed to trade that position out to achieve it. We believe that the Company has the management team and assets to do it, but it is now a question of whether the creditors allow it to happen – will they be provided with that opportunity? That is now down to the creditors.
The debt is and always has been the very question that should dominate investors’ minds, as all the rest is in a solid position. We are reiterating our BUY Recommendation and 11p target price and repeat our oft used refrain when discussing the Company, that debt will be the decider for the Company's owners and potential investors.

[playthebull] 20/5/2016 15:17

Circle? Circus more like.

[diku] 20/5/2016 14:37

Including the insiders!...

[deepwildcatter] 20/5/2016 14:10

SDX Energy just raised £7.6 million through a placement on the AIM.


I strongly suspect they will pick up COP interest in Gemsa at a discount.

[diku] 20/5/2016 13:44

Is this kaput?....another slippery Oily company!...

[gerry hatrick] 20/5/2016 12:16

Yep me to Steel and hindsight is a wonderful thing.
If only my thoughts about lack of buying by the board had made me react more dynamically but alas I have held in the hope it can be turned around.
SP Angel are probably right the business is sound but the debt mountain in the current climate leaves lenders nervous :(
Is this the end ? Maybe, unless Stevie boy can work some sort of miracle, but hey where has Steve been for the last two years ?

[steelwatch] 20/5/2016 11:23

Blast it! Should have acted on the Peel Hunt note.

[regandharry5] 20/5/2016 10:02

Last one out, TURN OFF THE LIGHTS.

[marunam2] 20/5/2016 09:50

Here you go Gerry, The difference is stark.
From SDX , Today.


8000bopd through 2016, 3600bopd per day to COP

[bengal1] 20/5/2016 09:34

The end...

[finjam] 20/5/2016 09:30

I am sorry to see the company go this way,it has never done any good since david hough passed away,i did comment at the time they introduced ltip for the benefit of the board I was deluged by comments by serial rampers,and sold out of this and sterling energy,who also share type of board as usual the shareholders will be the losers.

[gerry hatrick] 20/5/2016 09:28

Ironic my statement about the tone of the RNS 'it opened like a notification of a funeral' that is because it was/is.

[apfindley] 20/5/2016 09:08

Certain rampers postings from 18th are looking a bit over optimistic now.They've Incurred a 75% loss of value from buying at 2p just two days ago.Wow

[marunam2] 20/5/2016 07:55

Strange timing.
Being set up for a merger or sale ?

Lets be honest our assets in this climate are never going to add upto the value they had when poo was $100, $80 $60 etc.
On top of which the review will have had to use the new reserves report which cut the numbers in half.

Just cannot see how selling producing assets in this climate will give any kind of returns compared to keeping production going.

Why can they can't fight tooth and nail to re structure debt for say a two year period. It's not as if they are not generating money. The lenders forced the re determination of the reserves and now COP should do everything in their power to push the lenders to re structure the debt. It's lose , lose to both if they sell assets very cheaply .

Need to keep pushing the lenders for us to have any chance.

[oil_investor] 20/5/2016 07:29

My family sold its shares in this company back in 2013 at a modest profit because we had very serious concerns about how "the Professor" and his colleagues were directing it.

[gerry hatrick] 20/5/2016 07:25

'Little or no value to equity holders'.
What did Peel Hunt know ?
Looks like we're all stuffed.

[jotoha2] 20/5/2016 07:24

I think it's called throwing in the towel , very weak management !

[deepwildcatter] 20/5/2016 06:31

“Circle Oil” offers its Concession area In the “PetroAmir” field for sale and “Hataba” said that sale is due to the company difficult economic conditions