Circle Oil Share Discussion Threads

[steelwatch] 05/8/2016 12:10

You listened for 30 seconds? Says all I need to know about you. Goodbye!

[jotoha2] 05/8/2016 12:05

I listened for 30 seconds , more than enough , it's not going to help holders here , who have been shafted by incompetence of the worst kind , and to think these guys were paid to do it.

[steelwatch] 05/8/2016 11:55

It won't, but you obviously didn't listen!

[jotoha2] 05/8/2016 11:02

The company have repeatedly said there is no value left for current shareholders , so why should some hype from SDX manager change anything here.

[steelwatch] 04/8/2016 17:14

Listen very carefully

[deepwildcatter] 27/7/2016 16:27

Gerry, i would seriously doubt the accuracy of the 5 IOC story. Most IOCs would keep that sort of information strictly confidential until a formal offer is made.
I guess COP will continue "as is" until the bank pulls the plug, or a real offer is made.

[gerry hatrick] 27/7/2016 15:40

So COP had its AGM followed by the EGM at which no motions were passed ?
So no offers made,if any, put to the assembled shareholders ?
Where does that leave us then bearing in mind the link above saying 5 IOC's were interested in Egypt.

[gerry hatrick] 26/7/2016 15:29

This link was posted on LSE board, not sure where this leaves COP though or should I say equity holders ?

hxxp://enterprise.press/stories/2016/07/24/five-iocs-considering-buying-circle-oils-egypt-operations-concerns-over-future-repayment-raised/

[ifthecapfits] 26/7/2016 14:24

Any news? Or is that it - game over?

[greatfull dead] 30/6/2016 12:47

Steel,

Lets hope the COP BOD can get a decent deal.

learning curve,

Yes it is not looking good at present.

Time out for now. It is going to be a long waiting game now I feel!

GLA,
GD

[learning curve] 30/6/2016 12:39

I understand receivables are now less than $20m from Egypt.

Our only hope is that new bids arise that not only clear the $78m debt but leave a few pennies for shareholders.

Currently, not looking good though.

[steelwatch] 30/6/2016 12:19

The company has received bids for single and combined assets, without these being accepted. However, it is understood that a number of fresh bids are on the table and management is hopeful of a deal in the next couple of months.

That would likely include Circle’s two big producing assets and leave it with a small number of exploration and appraisal assets in Tunisia and Morocco.

[olieslim] 29/6/2016 18:50

Oil price stalls Mahdia farm-out offshore Tunisia
06/29/2016

Offshore staff
DUBLIN, Ireland – Circle Oil has issued an update on its offshore operations in the Middle East and North Africa.
The company has completed relinquishment of block 52 offshore Oman after failing to attract farm-in partners to avoid well cost commitments at 100% exposure.
However, the government agreed to a withdrawal without penalties in recognition of Circle’s expenditures to date.

At Tunisia’s offshore Mahdia block, Circle completed analysis of the 2014 El Mediouni-1 well which encountered light oil shows through a 133-m (436-ft) section of Ketatna (Oligo-Miocene) carbonates.
The company has secured an extension of the permit through January 2018, with a work commitment of one exploration and one appraisal well and 300 sq km (116 sq mi) of 3D seismic (or equivalent in 2D line km).
Circle has performed further technical work which suggests that development of the Mahdia prospect would be economically feasible at existing oil prices.
The company initiated a farm-out process on the block late last year 2015, but the response was subdued due to the low oil price.

[marunam2] 24/6/2016 08:28

Carnage at the moment.

Will be buying some oilies today , good chance of 10%- 20% trading.