Circle Oil Share Discussion Threads

[marunam2] 12/5/2016 10:45

News Tomorrow, I suspect and hope that there is a continuation of the postponement of the re determination while the strategic review goes on giving us time to wait for payment and to somewhat trade through the low POO.

Lot of hoping going on , that's for sure.

[ifthecapfits] 12/5/2016 10:22

WTF are the board up to. Come on - give something to hang our hats on.

[steelwatch] 11/5/2016 12:41

I see Nicholas Clayton has stepped up as non-exec chair at SEY

[marunam2] 10/5/2016 09:02

7

Hope they can pay up Q2.

[deepwildcatter] 05/5/2016 20:15

Compare Gemsa reserves

SDX gross 31st Dec 2015
Northwest Gemsa P1 P2 P3
Oil & Liquids (Mbbl) 5774 7934 10045
Gas (MMcf) 6315 8655 11004

Circle gross 31st Dec 2015
Oil & Liquids (Mstb) 9795 13889 18511
Gas (MMscf) 11302 16173 21925

[steelwatch] 05/5/2016 17:37

SDX planning to list on AIM

[marunam2] 05/5/2016 10:23

Doubt it was a lump of 5m, we have seen some decent size trades for a couple of weeks.

Spring clean ? ,COP not exactly rocking any ones world at the moment.

POO holding well above $40 pbo , so that's encouraging as shale must be between stick or twist wether to pump more or invest more. No guarantee it's going to go past $50 for a long time yet.

If Egypt pay up, then I will feel safe for a year or two by which time who knows.

We need a break.

[gerry hatrick] 05/5/2016 10:15

Only stating what the RNS said .

[ifthecapfits] 05/5/2016 10:10

Who took them up? Haven't gone through main market as far as I can see.

[gerry hatrick] 05/5/2016 10:08

Audley just offloaded 5m shares to take them below 5% ??
WTF at these low prices ?? They must have bought in around 30p - massive statement!
Not good for COP.

[oilretire] 03/5/2016 18:36

Can't access full article, but you get the gist....



Egypt plans to have paid all arrears to international operators by the end of the current cabinet, as it continues to talk with creditors on rescheduling repayments.

[steelwatch] 29/4/2016 13:28

Thinking about it, probably the reserves downgrade is, apart from depletion, affected by the low oil price at year end which would make late field life recovery requiring EOR and extra horizontal drilling sub-economic, so restated reserves discount those bbls.

[olieslim] 29/4/2016 11:15

More valuable for a buyer.

[marunam2] 29/4/2016 10:48

It may be that this is the price they have paid by agreeing to have the independent CP, the chance to trade out the current market.

We are getting $10pbo more than 2 months ago, a pipeline extension is going to start in May in Morocco which is paid for by the customer and which should open up another part of Kenitra for possible customers.

The sale of mahdia discovery or a hefty farmin would change the outlook completely .

And the elephant in the room.... Receivables from Egypt which would solve near term cash flow problem.

MM misjudged the reaction today , that's for sure.

[steelwatch] 29/4/2016 10:38

SP Angel comment this morning

Circle Oil (LON:COP – 1.88p) – (BUY – 11p) – Reserves and Resources Update:

Today's reserves and resources update is a reflection of the current price environment. We believe that the core competency within the Company remains solid and it remains a solid operating base from which to grow, provided that is, that the Management team are given the opportunity to trade out from under its debt pile. We are reiterating our BUY Recommendation and 11p Target Price, but as we said initially, debt is still very much the decider.

[marunam2] 29/4/2016 09:36

The lenders CP, Synergy has as they say taken a "conservative2 view .
Well they would as they arelooking after the hand that feeds them.
How the hell did COP agree to the lender's CP doing the report, independent my ass.

[deepwildcatter] 27/4/2016 19:39

Al Amir SE-23 brought onto production and Al Amir SE-24 development well spud in February 2016, with results expected in late April/early May 2016.

Complete drilling of AASE-24 development well at North West Gemsa and carryout nine well workover program.

[marunam2] 27/4/2016 18:26

The well is still being drilled .

[playthebull] 27/4/2016 18:05

Would be nice if something happens here at some point. My shares aren't even worth selling at this price so just an annoyance in red on my screen!

[marunam2] 27/4/2016 08:51

POO above $46 pbo.
Wonder how much it is worth for every dollar poo goes up on the total reserves value ?

[ifthecapfits] 26/4/2016 08:27

Picabia Ltd reducing their holding - whoever they are!!

[olieslim] 25/4/2016 17:09

That's your story, Gerry Hatrick. I look at it a bit differently: the kitty maybe empty but it is a precious kitty.

The company is in negociations and is said to have hoisted the for sale sign. How do you expect them to buy at this time?
Furthermore the well result could be under scrutiny as part of the negociations. As far as I am aware such negociations have not figured before in COP's history.

The story may look sad to you, but the potential for a multibagger is still there.

GL with your selling.

P.S.
EGYPT
New oil/energ ministers
Deal Saudi: export transit to EU vs 5 years petrol prod
$3bn owed to IOC's for oil/gas produced
Oil/Gas licence round launch next week
+well result still due

TUNISIA
Mahdia Farm out...

MOROCCO
Pipeline


Company/assets up for sale/JV
Lenders cooperating

[gerry hatrick] 25/4/2016 16:24

18 months ago this board was lively and full of optimism. Now very few contributors and most of the time pretty downbeat - me foremost.
Alas COP has lost all of its magic and I can't see this going anywhere.
As I have said on many occasions when directors don't buy (even at 2p) then beware because they know better than us.
Very little info coming out, we are still awaiting news of AASE24, which based on COP's history means no news is bad news.
Current Mkt Cap £15m - two years ago £120m - not all down to the price of oil !!
A sad sad story for what was once a potential multibagger.

[dilip40] 23/4/2016 21:33

o/t would appreciate any otjers oilers worth researching mmuk or canadian thanks