Circle Oil Share Price - COP
|Share Name||Share Symbol||Market||Type||Share ISIN||Share Description|
|Circle Oil||LSE:COP||London||Ordinary Share||IE00B034YN94||ORD EUR0.01|
|Price Change||Price Change %||Share Price||Bid Price||Offer Price||High Price||Low Price||Open Price||Shares Traded||Last Trade|
|Industry Sector||Turnover (m)||Profit (m)||EPS - Basic||PE Ratio||Market Cap (m)||RN||NRN|
|Oil & Gas Producers||54.3||-34.6||-6.1||-||25.46|
Circle Oil News, Charts, Forums & Trades
Circle Oil News
|06/11/2015||07:00||UKREG||Circle Oil PLC Holding in Company|
|28/10/2015||08:26||ALNC||Circle Oil Discovers Gas At Last Exploration Well In Morocco|
|28/10/2015||07:25||ALNCF||Alliance News Flash Headline|
|28/10/2015||07:00||UKREG||Circle Oil PLC Operating Update Morocco|
|13/10/2015||06:46||ALNC||Circle Oil Moroccan Well Flows At "Upper End" Of Expectations|
|13/10/2015||06:00||UKREG||Circle Oil PLC Operating Update Morocco|
|08/10/2015||08:00||UKREG||Circle Oil PLC Directorate Change|
|29/9/2015||10:02||ALNC||Circle Oil Reports Steep Drop In Profit As Production In Egypt Falls|
|29/9/2015||06:02||UKREG||Circle Oil PLC 2015 Interim Results|
|26/8/2015||07:44||ALNC||Circle Oil Plugs And Abandons Ksiri South Well, Moves To Ksiri West|
Circle Oil Share Charts
1 Year Circle Oil Chart
1 Month Circle Oil Chart
Intraday Circle Oil Chart
Circle Oil Discussions and Chat
Circle Oil Forums and Chat
|25/11/2015||18:18||Circle Oil PLC - Oil & Gas E & P||5,630|
|07/11/2015||11:24||L2 - Observations, comments and screenshots||16|
|28/10/2015||07:09||Just another typical AIM share||4|
|31/3/2015||11:25||Circle Oil - Oil and Gas Exploration and Development||18,287|
|19/6/2014||13:48||Circle Oil Red Hot||4|
Circle Oil Top Chat Posts
|swooped: Maybe, but I will watch the oil market very closely Saudi has no intention of cutting production, it understands how hard it is to regain market share after the last time it did that and now with US shale production, the imputus to help the world oil markets as the global scale balancer is not really there. Oil could drop very low indeed and as such places like Oman for COP means little, why spend a load of money trying to prove reserves, when the chances of a strike are against them and the reserves are tumbling in price. Technically, cop has hit the bottom at 9.9p, it can do it again particularly as oil continues its downward spiral, money could indeed be made here but at this time its better in my powder-keg warm and dry than in a small oiler. If the COP share prices goes extremely low AND I believe they have the ability to survive a prolonged low oil price, then yes I would buy back in as a long term investment (3 - 5 years) however, I still continue to ask myself why have the directors have not taken advantage of the situation and that still concerns me.|
|pendragon2: Looking at the COP share price, my biggest problem is to find a reason for it to stop falling, which I can't at the moment. Baffling how the company could have boxed themselves in to this negative situation.|
|gerry hatrick: My e-mail to Circle Oil : As a small investor ( with quite a large investment in COP) who is experiencing a paper loss of 66% , can I ask why the Board of Directors own relatively few shares personally. To the outside investors , a small aim listed company like Circle Oil should be shown that the directors have faith in the company and their own money at risk. We are led to believe that the Mahdia well prospects are potentially large, estimates of 70m to 100m barrells of oil are possibly extractable, (possibly worth £2-3bn at current oil price), if this is true, should this not encourage the board to invest , which in turn would encourage other investors and raise the SP? or are we being duped about its potential ? Mitch Flegg has less than £10k invested, which for a man in his position and income level is a pittance. Susan Prior has purchased zero and Stephen Jenkins has £100k, which for a private investor is a lot ,but for the Chairman a very modest investment ,surely he would want to increase this given the very low price now available. In the past year we have seen the share price drop from 28p to <5p, but we are assured that Circle are better protected than most small oil aim companies because of fixed price for gas and it's cash generation, so why is the share price so low ? Do the BOD ever read the online forums of Circle Oil ? If they did they would gauge the opinions of their small shareholders, who feel neglected and dismisssed. Mitch Flegg's reply to my e-mail Dear Sir Thank you for your continued support and interest in the company. I can assure you that I and the rest of the Board are mindful of your concerns and of the impact of the current low oil price environment on market sentiment and are working very hard to address the situation. In spite of the continued difficult market conditions, I am pleased with the progress we have made in the last few months. Our drilling campaign in Morocco has yielded good results and the cost cutting campaign there has also had a positive impact – with drilling costs down 30% per well over the course of the current campaign. Production from our Moroccan and Egyptian fields continue to benefit from extremely low operating costs and, as you are aware we have started the Tunisian Mahdia farm-out process. I believe that this approach will lead to improved profitability which will in turn lead to a strengthening of the share price. Valuations of AIM-listed Oil & Gas companies have substantially underperformed in recent years and so we are having to work even harder to convince the market that this approach will be successful. As you point out, I have made an investment in Circle shares and I will follow this up with appropriate investments as personal finances allow. I’m afraid that I can’t comment on behalf of the other directors. I am disappointed to hear that you feel that some of the small shareholders feel ‘neglected and dismissed’. It is my intention that Circle is an open and honest company and that we communicate clearly with our shareholders and other stakeholders. We are certainly working hard to ‘up our game’ in this regard. You have asked whether Circle view the forums. I would say that I and others keep an interest in the discussions which take place in all media, including the forums. You will appreciate though, that as a listed company we are somewhat constrained in the channels that we communicate through. You can always contact me at email@example.com should you have any further questions. Regards Mitch Flegg | Chief Executive Officer Circle Oil plc Make your own minds up what this says about our BOD.|
|lr2: Whilst not a chartist myself, I do have a good friend who is and he advised me that the COP share price would trend between 22p and 25.5p for awhile (it has). Once it breaks upwards from that then he expects the next move will quickly take the price to the 29p area. I was told to worry if it breaks below 20p but he did not expect that to be the case.|
|pendragon2: The core of this discussion is the undervaluation of COP and why the share price has failed to respond to improvements in the business.
There are basically three questions.
1. Are management doing a good job, strategically and on a day to day basis?
My answer would tend to no. Too much attention to the bonus schemes and not enough to make a clear case about where the business is heading. Operationally, the jury is out as very little has happened until recently. Egypt is a VEGAS project. Morocco is small beer.
I don't doubt Green is competent to a degree, but he was a stop gap appointment following the death of David Hough in 2010. His performance leaves much to be desired.
The arrival of a new Chairman has underwhelmed.
Do they need a COO if Tunisia and Oman are to become technically demanding operational commitments?
2. Is the business sound?
Egypt provides income and will continue to do so for another five or six years, before tailing off, though even then it may be a performing asset for a decade to come. That is the good news.
Morocco is a small, but welcome project, which I never expect to contribute more than sufficient to cover head office overheads, but that's OK. Profit is profit.
Tunisia, Oman may come good, but that has taken far too long to be established.
Does the company have any clear goals for E&P looking forward? I'm not sure. We need a clear strategy, rather than sitting and watching the benefits of Egypt frittered away. COP's success in Egypt was partly good luck, as they moved into an existing business at the right time and it quickly came to fruition for little or no outlay.
I don't understand why COP needs the $100m credit line, given the income now achieved. Was it simply a precaution following the Arab Spring? If so we should be told. If it is for strategic purposes then it could be a boost to the company, so we should also be told.
3. Are there any unforeseen/overlooke|
|steelwatch: Gerry - from the LSE bb: elland 24 Jul 2015 Share Price I have e. mailed the CFO to confirm this boards general unease about the lack of Director share purchase activity. I advised that in our opinion, this would help support the struggling share price prior to more positive future announcements, assuming that they are not precluded from doing so. elland 10:00 closed period I have received an e. mail this morning from Ms Prior the CFO. She will pass my comments re the share price and lack of Director share purchases, to the rest of the board. She also informed me that currently none are possible as they are in "closed period" while preparing interim results.|
|swooped: Gerry, Schadenfreude... I don't think so, you should read my posts here, they have been pretty consistent as regards my impression of the company since my first investment in COP in July 2010 thus, I know this company well. I have never taken any pleasure from people loosing money in Circle Oil, in fact the only people I would be happy to see loosing money in COP is the management themselves as it is they that have caused much of this situation, once again DO NOT try and blame the current share price on the crash in oil as I have proved on many occasions even at the height of the oil boom Circle were dropping, they have yet to sort out there own house. As regards trading COP I have also been correct more times than not, that is not to say that this comment is to gloat but to demonstrate the inability of COP to hold onto any rise and again I believe this is down purely and only to the management, are they trying to change, who knows, thus far I have seen little to demonstrate this other that at this point seeing even more on the corporate payroll, when these ignorant individuals put their hands in their pockets and show a concerted and collaborative 'significant' act of faith in the company, only then do I think we may see any rise hold, even a buyout at this point seems to give no substantial benefit to the directors thus show me what incentive they have to do ANYTHING as regards capital appreciation for the shareholder the only thing that benefits the management at this point is to keep the company ticking over and paying their rather inflated salaries. IMO the share price will drop further in line with the oil price crash and a new low made today, with the release of Green, his immediate sale of options, which for me has been one of the most significant events for COP for a long long time means at this time I see COP only as a trading share, it will take a meaningful change for me to be an 'investor' again.|
|gerry hatrick: Mahdia estimate of : 70mbo value at the low of $40 = $2.8tn farm out 60% thus 40% to COP = $1.18tn Revenue per COP share /565.3m = $1.98 per share Converted to UK £ = £1.19 per share Assume costs at 50% = £0.59 per share Current share price = £0.0425 per share Not rocket science , so why are directors not stuffing their boots if they believe their hype. Hmm somebody is not telling the whole story.|
|swooped: LOL 'nicked from Serica' LOLOLOL 'nicked' Investors at Serica will be rejoicing today, Mitch did f all at Serica and as it COO did even less. He was at serica since 2006, a peiod that coincidently the share price started to fall, in 2012 when Mitch joined the board, the share price experienced it's greatest share price fall (all just coincidence no doubt), however the fall continued even at a time when the oil price was at its height. During his tenure Serica gave up its only 1 producing asset and has stagnated for years unable to get a transport route for its North Sea assets..... Mitch, what an asset NOT, the irony is when I saw the Serica RNS and rejoinced, I didn't for a minute think he would end up here as the new CEO...|
|boozey: Circle's share price dropped yesterday despite on the face of it a positive update and an improving oil price. It was issued by Jenkins and not the Prof and that point was not lost on me as the content was not in line with the historic Chris Green communications. Has the Prof been misleading investors all this time and it has been his lack of credibility that forced the share price down and saw his demise as CEO? AS Jenkins says the share price should not be so low given the cushion we have of Morocco gas sales. - We were told the Tunisian well would be paid for by cash, but wait the prof has spent $45 Million of reserve based lending and we still have cash in the bank of $34M. This is new news. And how much did Tunisia really cost? - We were told by the Prof new finds in Morocco would be used to increase production, but wait Jenkins now says we need to replenish depleted reserves. This is new news. - Tunisia was supposed to begin a farmout process in November but wait, guess what, the license has not been renewed yet. Serious investors and followers must have read yesterday's RNS with dismay and wondered what game the Prof has been playing for the last few years - seems a few of them bailed out on the back of it the way the price fell. I must admit the thought crossed my mind too. Enough said. Things can only get better can't they? We need the new CEO in situ asap. I'd give it to Antony Maris, the non-exec of COP and COO of Soco the FTSE 250 company. He has been there 10 years and the company has always been progressive, returned shedloads of cash to shareholders over the past 2 years, is sound financially and has a break even point of $20 a barrel. We need a CEO who can embrace, manage and give confidence to the the City, who provides good PR and governance, and who more than anything else is credible and buys some shares in Circle to have real skin in the game (he has a significant number of Soco shares) - these are key attributes Chris Green never had. Circle is probably of just about sufficient size to interest him. I am sure the activists will have their view - I hope Maris is on their list.|
Circle Oil Most Recent Trade
|Trade Type||Trade Size||Trade Price||Trade Date||Trade Time||Currency|
|O||10,000||4.50||27 Nov 2015||15:56:47||GBX|