THIS NEWS WILL CERTAINLY MAKE THE SHARES INCREASE WHEN IT IS ANNOUNCED.


In March 2003, First African Oil Corporation, a wholly owned subsidiary of
Circle signed a two year exclusive reconnaissance licence with the Government
of Namibia covering approximately 146,000 km2, an area more than half the size
of the UK. The Licence is one of the largest in Africa and the Namibian
Government holds a 10% carried interest. Within this concession area, and with
the benefit of a valuable dataset of previously acquired technical information,
Circle believes there is potential to produce significant quantities of
valuable hydrocarbons. An aerogravity survey was carried out during the summer
at a cost of 415,000 and initial results of the survey are very encouraging.
The final report on this programme is due within the next few weeks.

good call sagem, I wish I'd seen your post a week ago ;-)

NEWS ON THE WAY METHINKS GET IN NOW!!!!

Any idea as to when the news will come through..went in at 20.13 this morning & as always the price has dropped.. typical.

Chrispine; This is why it dropped

Circle Oil PLC
26 November 2004

The directors of Circle Oil Plc note the recent increase in the company's share
price and confirm that they are not aware of any specific reason for this
movement.


This information is provided by RNS
The company news service from the London Stock Exchange

Humpf.. this was in the Guardian this morning.

Circle Oil, the Irish-based oil and gas firm, improved 2p to 18p, amid talk of a big announcement in the pipeline.

Oh well I'll have to sit on these for a bit.

Thanks

Chris

Never seen any newspaper articles but co. is new and not that well known, as yet. Any publicity will increase it's profile and can only be good as awareness grows. Who knows what is going on in the background? But if preliminary results tempt bigger investors into thinking there's a fair chance of finding oil then great news for the co. (and the sp!!) in th elong run.

Management/Technical team appear to be highly experienced and these people don't invest just to make a few %, do they? So maybe we should all be patient, give them chance and see what the new year brings...

The Iraqi director is said to work in the Iraqi Oil Ministry.

Pretty signifcant I would think!

Starts

Immediate release: 1 December 2004



Circle Oil plc

('Circle' or the 'Company')

Key Appointments

Circle Oil plc is pleased to announce that it has made the following
appointments to the Company:



Mr. Kevin J. Lant has been appointed as Exploration Manager by the Company and
he will be based in Circle's Houston office. Mr. Lant has a BSc from California
State University and an MSc in geology from Ohio University. He has almost 30
years of worldwide oil and gas exploration and development experience in
particular in USA, SE Asia and North Africa. He has worked for Conoco, Champlin
Petroleum, Anadarco Petroleum and Asamera Oil. He was part of the team that
discovered three multi-trillion cu.ft. gas fields for Asamera in South Sumatra,
Indonesia.



In 1995 Mr. Lant founded Pelangi Resources, a company providing technical
services to the international oil industry. Pelangi has been involved in
numerous projects in South America, Central and Eastern Europe, SE Asia, USA
and Canada.



Dr. Shamil S. Daoud has been appointed as Business Development Manager - Middle
East. He will operate out of Circle's recently opened office in Sharjah in the
United Arab Emirates. He has over 25 years experience in the oil and gas
industry particularly in the Middle East but also in West Africa. Dr. Daoud
holds a BSc from the University of Baghdad and a Doctorate in Pharmacy and
International Marketing from Idaho State University. He has worked in Iraq on
the UN Oil for Food programme and also with the US Exim Bank. He is also an
Executive Director of Richfield Assets Firms Management LLC of Dubai, UAE.



Dr. Daoud's experience and extensive range of contacts throughout the Middle
East will be of great assistance to Circle as the Company is particularly
focussed on acquiring exploration and pre-development acreage in Oman, Iraq,
Yemen and the United Arab Emirates.

Commenting on these appointments, David Hough, Circle's Managing Director said:

'The addition of Kevin and Shamil to the team will greatly enhance Circle's
ability to carry out exploration programmes on its existing holdings while
vetting and acquiring new projects particularly in the Middle and Far East. It
will also allow the Company to focus on getting a joint venture partner for its
Namibian licences where recent industry comment about that country's oil and
gas potential has been very promising.'

For further information please contact:

David Hough, Managing Director

Circle Oil Plc

Tel. +353 61 354 831 OR +353 87 240 2200

Maybe significant, maybe not. But whatever is/is not announced, doubt whether they will have found oil so soon, it's far too early for that! Still, if this guy has indeed got "extensive contacts", especially in the Gulf States, then it can only be good news for attracting the right kind of cash-rich partners as per the Company's original mission statement. Either way, Co. appears to be heading in the right direction and doing what it said it would do.

Depends how much "positive news" has already been factored in to the sp. What do you reckon? Could be a very good medium to long-term HOLD, I think...?

Definitely, imho etc.

Noticed the sp was up to 27p on new year's eve with a mid-day jump of 5p! Wonder what could be happening behind the scenes?

Read a lot of stuff recently on bulletin boards as to how the prospects of an oil find can make these types of companies soar - maybe punters trying to push up the sp or are their claims realistic, I wonder?

Does anyone know what a bona fide oil find in the likes of Namibia might do to the sp in this particular case?

Has anyone done the fundamentals on this company - ? i.e what are they worth etc? I am a petroleum geologist and haven't heard of any exploration in Namibia to date, so this could move a lot on speculation! Might have to jump on board?

Press Release

04 November 2004 : Survey Results in Nambia

Circle Oil plc is pleased to announce the completion of a recent airborne gravity and magnetic survey of its concession in Northern Namibia. The survey was aimed at evaluating the hydrocarbon potential in an area with no previous seismic coverage or modern gravity or magnetic data. Interpretation of this data has defined basinal areas, regional lineaments and structural highs, each of which is critical in understanding the regional petroleum system.

A total of six deep basins were defined by the survey and four of these have been selected for additional surveying. The Company anticipates that, following an aggressive exploration programme over these areas, a number of new prospects will be brought to drillable status in the near future. Future activity will probably include additional gravity-magnetics and/or 2-D seismic surveys to
further refine the hydrocarbon potential of this large area. There are already two prospects, delineated by previous seismic programmes, to the west of the area surveyed that are ready for drilling

The survey was carried out over 75,618 sq. km. of the eastern portion of Circle's 146,000 sq. km. concession area of the Owambo (Etosha) Basin in northern Namibia. The Owambo basin is located about 500 km. north of Windhoek,
the capital of Namibia, and in its entirety covers approximately 268,000 sq. km. of Namibia and southern Angola. The detailed stratigraphy of the basin is
poorly understood due to the extensive blanket of post-Cenozoic Kalahari sediments. Most of the information is known from outcrops along the basin margins, from a small number of widely spaced wells, from limited seismic
coverage in the western half of the basin and from regional aeromagnetic and ground gravity surveys.

A reconnaissance soil gas survey conducted by a previous operator over a 10,000 square kilometer area contained several significant anomalies, suggesting active migration of petrogenic hydrocarbons from depth. These surface
petrogenic microseeps have an overall gassy to ntermediate compositional source. Anomalous surface microseeps over a surface-expressed anticlinal structure in the western part of the survey area have an oily to intermediate compositional source. There is a good correlation between higher hydrocarbon magnitudes at the surface and areas of structural deformation mapped at the surface and in the subsurface.

Examples of Proterozoic source rocks and production similar to those under evaluation in Namibia include Oman where these rocks in the South Oman and Ghaba salt basins contained proven reserves of approximately 3 billion barrels
of oil. In Eastern Siberia in the Lena-Tunguska province, Proterozoic source rocks and reservoirs contained proven reserves of 18 tcf of gas, 425 million barrels of condensate and 220 million barrels of oil while estimated reserves in the Sichuan Basin of South Central China from Proterozoic and Cambrian source rocks and Proterozoic reservoirs are 40 tcf of gas with 10% from the older reservoirs.

David Hough, Managing Director, commented,

'These results are most encouraging and further highlight the significant potential of this very large license area. A number of major oil companies have expressed their interest in Circle's Namibian prospects and these results will greatly strengthen our hand in any negotiations that may take place over the coming months.'

-Ends-

------------------------------------------

SP - up by 13% today on 2m volume already!

Alan,

SP has just reached a new peak today so not the ideal time to invest, in theory, at least! However the fact that hasn't been any significant announcement by them since 17 Dec and they still continue to rise (with only minor blips in profit-taking) might mean greater things to come. IMHO tough - rises mainly caused by "speculation" although key appointments, like the ex-Iraqi Minister, etc, are all very positive, signs, aren't they?

Fundamentals, off the top of my head, do not justify the current sp - nowhere near. Therefore a punt now @ 30p has to be a gamble pending trace element finds and/or mega JV deals with interested affluent PLCs with plenty of cap to invest......

Alan,

You asked about Fundamentals...

------------------------------------------------------------------------
Sector Turnover (m) Profit (m) EPS - Basic PE ratio Mkt Cap (m) NMS
0.0 0.0 0.0 - 0.0

ROE (%) Op Margin (%) Gross Gear (%) Divi Yield (%) Quick Assets (m) Net Asset Val PS (p)
0.0 0.0 0.0 0.0
------------------------------------------------------------------------

Hi All

I bought COP at 0.19p. Don't know anything about COP but the chart looks fine. Lots of big blue candles all near or above the 10 day moving average. There is some resistance (the long thin bit on top of the candle).



Good Luck All

Eddie

Hi, Eddie.

My mate uses similar software and he tipped COP just before Christmas which coincides with your Graph! He uses MAP?-lines, as well? I am no graph specialist myself but I'm obviously very interested to learn more about what forecasts they come up with? Can we presume you are a day trader or short term punter perhaps?

Do you have a short or long term target?

What do the graphs predict?

What's this: "(the long thin bit on top of the candle)"?

What software do you use and what is its accuracy?

Surely you don't invest in a company just because the graphs look good - or do you?

Hi markusantonius

I use sharescope & you can download a demonstration version or order a cd on line. It is free & you can learn how to work it. I use end of day data. But Candles can be used for any time period. Sharescope is very easy to use. www.sharescope.co.uk There are different packages, I use the end of day. The chart I drawn was from moneyam.


Good Luck

Eddie

Hi markusantonius

Did you down load sharescope ?

Regards

Eddie

Hi, Eddie.

I've been on website, as you suggested, above. But ShareScope charges for software CD's! I am definately a novice when it comes to chart reading but notice that your 19p. was bought around the cross-over of the red and blue lines on the upward paths - obviously no coincidence!

How do you interpret the graphs now, Eddie? What do they indicate to you? You mention Candle resistance - what is this, pressure from potential likely sellers?

Do you have a selling target already set in your mind?

Cheers,

Kus.

Hi Kus

The demonstration version is definatly free. (the big flashing arrows) Down load demo will allow you to get the software. Yes I bought as the 10 day moving average started to move up through the 20 DMA. As you can see the candles started to be on top of the 10 DMA. This is a short term indicator. So you would have to decide if you want to keep giong in & out of the share or hold. I'm going to hold for now. You should be looking out for news either good or bad. This is usualy reflects in the candles. A book called beyond candles is available from the book shop on moneyam. I have found this very usefull when looking at the candles. I would say, if your prepared to invest then invest in your own company first. Get sharescope it will help you with your choice of stock.

Regards

Eddie

Thanks for this, Eddie. Very interesting.

For what it's worth, I agree with the results of your analysis although for different (non-theoretical) reasons! Personally I think the next announcement will be positive - but it's just a matter of degrees and how much of this has already been factored into the sp? The longer we wait, the more likely there will be up & down curves with some degree of profit taking - and maybe even a downward correction if it goes beyond mid Feb. However 35p+ in the short term is my prediction. I think this is achievable reading between the lines.

Are you a day trader or is this one just balancing out the portfolio?

Managed to find the flashing arrow, Eddie! Are you a "Gold", "Plus" or "Pro" member? It appears expensive! Is this ALL you use to aid your decision-making?

Hi kus

No I'm not a day trader. But that's not to say I couldn't be. Its what ever system suits you best. If you have a reasonable amount of money you may be able to day trade. I would not invest, day trade without a good system, I know I was that man! I couldn't see without a chart, that the stock I chose had took a big dive. So be carefull.


Regards

Eddie

Hi kus

Gold. Don't subscribe untill you try it. See if it is for you.

Regards

Eddie

Hi Kus

How have you gone on ?

Yes oil is looking good, as you can see lots of news for DES. We are waiting for DES to announce farm out partners. The stock is likley to rocket. But as always keep your eye on the news.


Regrds

Eddie

Ordered the 'Gold' CD, Eddie. Thanks. (I don't like downloading anything.)

My mate and friends have held Desire Petroleum for many years (Syndicate) and they are excited right now! By "rocket", what do you mean? If COP manage to lure "farm out partners" [highly probable, IMHO) then what do you/your software/graphs predict can be reasonably expected for the sp?

Do you have any concerns over "bad press" on the other BB's around?

K.

COP now up to 33p!!!!! What's your target, Eddie?

Hi Kus

I put a line on the resistance at 0.306p. COP has gone through this without to much trouble. 0.306 should now become the new support for the short term. There could be pull backs but they should be regarded as buying opertunities. COP is up by 9.84% since yesterday & up by 21.82% since 10 days ago. But if the news from the Namibian negotiation does not go well, COP may well drop. Target for short to medium term is 0.50p.

Regards

Eddie

Personally (Just IMHO!) I think there is more to COP than this Namibian negotiation. Looking at the geographical spread of the whole Operation and reading between the lines, I think they have many irons in many fires. I didn't buy merely because of the Nam Gov link but for reasons like who the key players are and their experience and contacts across the Globe. Even if Nam fails they have enough funds to look elsewhere for major JV partners.

The sp has already surpassed my initial target sell price and so I'm breaking all my own rules in holding on for a while longer!

I received the software disc today so please email me privately when you get the chance. I want try a few dummie runs before I start doing what you so!

Regards,

Kus.

Personally (Just IMHO!) I think there is more to COP than this Namibian negotiation. Looking at the geographical spread of the whole Operation and reading between the lines, I think they have many irons in many fires. I didn't buy merely because of the Nam Gov link but for reasons like who the key players are and their experience and contacts across the Globe. Even if Nam fails they have enough funds to look elsewhere for major JV partners.

The sp has already surpassed my initial target sell price and so I'm breaking all my own rules in holding on for a while longer!

I received the software disc today so please email me privately when you get the chance. I want try a few dummie runs before I start doing what you do!

Regards,

Kus.

Up by 13% already today! and rising..... Wonder what's goin on?

Hi Kus

Yes COP is looking good again today another good rise.





Good Luck

Eddie

Since COP's spread narrowed severely towards close of day yet the bid (sell) price remained constant (at 36p) throughout, I think the stock is becoming a lot more liquid. There is definately something happening behind the scenes but what, when and where does it all end, who knows?

It's CONTINUAL rise is relentless. Huge transactions taking place yet the sp still rises. MM's soaking up stock without any sweat!

Any ideas, anyone?

The IRS Report
15th January 2005

Virtuous Circle could become a ten-bagger with oilex success
by James Morton

In November 2001 I first met the management of First Calgary. Without wishing to impugn management, the company had little going for it at that time. It had no revenues, was losing about C$1m a year, and had precious little cash. The market capitalisation at the time was only C$20m. But it had somehow acquired a couple of really interesting Algerian concessions in an area known for oil and gas. With some trepidation I bought shares at 60 cents. In early 2003 the company having unveiled interesting seismic results had a blip during drilling, so I bailed out just shy of C$3 per share, making nearly 500% and thinking what a marvellous investment.

But now I do not look so clever as the share price is C$18 and the market cap over C$3bn. This could be my next big winner Ever since I have been searching for another First Calgary. Possibly, just possibly, I may have stumbled across a candidate that could enliven your 2005 portfolio.

If, like me, you believe that short-term gyrations aside, the long-term trend in the oil price will be upward because demand is going to rise remorselessly as more and more consumers especially in China and India increase their usage, then you want to own oil and gas stocks.

The bigger international names should be safer, though as we found out with Shell not everything is as it appears, even in supposedly blue chip companies. So you might as well look at the riskier end of the spectrum where if things go right rewards are going to be substantial. Who would not like to find the next Cairn?

Newcomer on AIM

Circle Oil is a relatively recent arrival on AIM as of October 2004. The current 28p values the company at 34m. Like First Calgary 3 years ago, Circle has little going for it on the surface.

The financials do not inspire confidence there are no revenues and a relatively short history, while money raised on listing will soon be expended on licence fees and exploration commitments. But like First Calgary this tiny company has managed to latch on to what looks like particularly interesting acreage, this time in Namibia.

It secured a two-year exclusive reconnaissance licence covering 146,000 square kilometres with Namcor, the national oil company, retaining a 10% carried interest. Circle will carry out exploration activities and testing in two main areas. Firstly on the shore in the southern part of the country adjacent to blocks held by Hunt Oil. There is an enormous amount of activity offshore along the African coast, mostly further north, but Circles area can be considered prospective.


Close to known Angolan reserves

The other concentration will be in the north, on the Angolan border. There is a fair amount of oil just across the frontier and it would be surprising if nothing were found on the Namibian side. Limited drilling history means most acreage is virgin territory and so is speculative. But preliminary work in the Oponono Structure carried out by previous operator Occidental in 1993 suggested there might be a significant reserve with potential recoverable oil resources ranging from 46 to 295 million barrels. Even the bottom of this range puts the company on a valuation of only US$1.35 per barrel while at the upper end it falls to a mere 17 cents. A price of US$2 per barrel would not be expensive.And Oponono is only one part of one block. There are other areas with potential.

A little oil will be enough

The point is that Circle does not have to find much oil to make its current valuation look derisory. If it were to find commercial quantities todays share price will be a distant memory. There are also offshore Irish interests that are not half bad, but the main play is the Namibian licence that could lead to a substantial new oil area.

Circle may not be the 30-bagger that First Calgary became, but with a slice of luck it could be a 10-bagger.

Squaring the Circle

Companies like Circle are more risky than most. For starters, Namibia is not the UK. While management has a 5-year history of working with the government, that is no guarantee their relationship will stay satisfactory. The current licence expires at the end of March. The company believes it is close to negotiating an extension and to obtaining a more comprehensive licence for the second phase. But there is no certainty that they will succeed. That said, given their history and assuming a successful new capital raising, it would be surprising if they were not able to obtain an additional licence.

More cash needed

The money which Circle has now will not go far. The company says it will not need additional capital to fund its planned exploration this year but longerterm, additional money will have to be found, probably from some combination of debt, equity and a joint venture deal with a major oil company a farm-in that will dilute Circles interests. Finally management, though experienced, may not possess the full range of technical capabilities in-house to complete this programme.

There are financial and operational risks. If not the price would be higher now. If you want to consider a small flutter in Circle, remember that if things go wrong you could lose your entire investment. But the upside is just too exciting to ignore.

James Morton is Investment Director of European American Securities Inc, advisor to Cundill International. Cundill International owns shares in Equator Exploration. European American Securities also advises Perinvest Special Situations Fund. Perinvest Special Situations Fund owns shares in Circle andZari. James Morton also owns shares in Circle and Zari in his SIPP.

Ends.

Immediate release: 25 January 2005

Circle Oil Plc ('Circle' or 'the Company')

Statement Regarding Price Rise

The directors of Circle note the recent rise in the Company's share price.

The Company is currently in the final stages of negotiation with potential
partners to exploit its current licences and will make further announcements in
due course.

-Ends-

David Hough, Managing Director

Circle Oil PLC

Tel. +353 61 354831

Ben Simons

Hansard Communications

Tel. 020 7245 1100



wilbs

Geoff Foster, Daily Mail
25 January 2005


Circle Oil, the fledgling oil exploration company, gushed 7p to 44p on heavy turnover of 5.7m amid talk of an imminent upbeat drilling report.

http://www.thisismoney.co.uk/investing-and-markets/tips-and-tactics/article.html?in_article_id=397395&in_page_id=23


wilbs

Look at cop go. Up 17.17%!!!!
There must be news coming else why the big increase?
wilbs

wilbs,
you must be laughing all the way to the pub!!!!!!!!!!!!!
dexter

dexter,
Funny you should say that, Im popping down later for a quick one. Ive had a good week so far(makes a change!!). I really cant understand what is going on with cop,If its rising on waiting of news whats it going to if positive news is announced? Its like another pet but not as risky imho.Thought seo would of had a small rise.
wilbs

Some of us, half & half..... Sold some recently but holding my nerve with the rest..... Hanging on for the ride.......

Should have realised - MMs are stockpiling, you can tell by the way the trades are being reported. Can only mean one thing.....

Wonder when it will all end though? What topps will be?

Ive not sold any yet,gonna ride it out as long as I can,If sp drops then ill sell.What will tomorrow bring????????????????????
wilbs

That was my plan, Wilbs. But kept putting it off until it took a slight drop the other day. If I'd waited 3 hours I would've seen it go up another 5p! In future, will follow my instincts. But all profit from here so must think on the positive side......

Tomorrow? Just waiting for news so will probably drift higher or stay flat. can't see people bailing out now at this stage when an RNS is due, can you?

I dont think people will be bailing out either, maybe just top slicing. I have set a stop loss at 46p. I will still come out good. An RNS must be iniment otherwise there is no explaination of the recent sp move?
wilbs

Unknown territory, Wilbs. Just IMHO: I think news will be merely re: a major farm-in partner. Hardly likely to strike oil for a while yet, are they? All oil and gas cos are in favour akin to dot.com days - and look what happened to them, in the end! For now, we are all riding the crest of the wave. Might be best to consider bailing out (maybe leave a few in for the very long term) AS SOON AS whatever is announced - is announced? I dn't know? I do like the co and the people in charge though. Top people.

marcusantonius,
I agree with what you are saying 100% but all the recent spec in the press is great for cop. Speculation of the chinese being a farm in partner will be great for us share holders. Look how the sp has performed lately? It will only take an RNS for news and what will the sp go to? Its been rising for no reason but even a little bit of news is what everyone has been waiting for, the sp must go north somewhat. Maybe not to 100p but80p-90p? I will hold out unless my stoploss kicks in.
Great company with lots of potential but I dont hold for long term. I am in for a quick profit and move on to the next.Why hold on when there are more opps waiting to be had?
Comments would be appreciated.
All IMHO

wilbs

Still think there will be a minor set back (profit-taking) if no news for a fortnight or so.....?

What other opps, Wilbs? Must be a goodun to rank on a par with COP!

hold onto your hats guys!!

Circle Oil in $50m Africa drilling deal with Chinese group
By James Boxell
Published: January 28 2005 02:00 | Last updated: January 28 2005 02:00

Circle Oil, the Aim-traded exploration group, will today end weeks of market speculation about a significant deal by unveiling a $50m-plus alliance in Africa with a Chinese state-owned energy group.


Circle only joined Aim in October, but its shares have more than doubled in the past month.

The company was forced to put out an announcement this week saying it was in the "final stages of negotiation with potential partners to exploit current licences".

Such extreme share price rises by tiny companies with unproven assets has led to fears that the UK independent oil sector - driven by record crude prices - is showing signs of irrational exuberance similar to that shown by the dotcom industry in the 1990s. Circle shares - which floated at 20p - rose a further 5p to 54p yesterday.

Circle is understood to have signed a deal with China Shine, which will see the private Chinese group take a 72 per cent interest in the vehicle that owns Circle's onshore exploration licence in Namibia.

China Shine will spend at least $50m on drilling three exploration wells in the 40m acre concession area, although Circle is pinning its hopes on further drilling by the Chinese company.

Occidental Petroleum, the US oil group, previously owned the Namibian concession but pulled out in the 1990s after failing to find oil.

Circle believes advances in technology and deeper drilling will give it a greater chance of success.

China Shine's investment in Namibia comes as Chinese state-owned oil groups are scouring the world to secure oil assets.

It will not pay Circle for the stake, but the Aim-listed group will maintain an 18 per cent stake in the field and will not invest any of its own money in exploration drilling.


http://news.ft.com/cms/s/4b119b1c-70d2-11d9-b572-00000e2511c8.html

wilbs

Found this over the other side.
Lets hope we are in for a good day!!
Good luck all.


Circle Oil Plc, through its wholly owned subsidiary First African Oil Corporation, and China Shine H F are pleased to announce that the companies have signed an agreement whereby the China Shine will earn a 72% interest in Circle Oils Namibian licence . Circle Oil Plc currently holds a 90% interest in this licence and NAMCOR, the National Petroleum Corporation of Namibia (Pty) Ltd holds the remaining 10%.

China Shine is estimating a budget of over US$1 billion for the Namibian project and expects that the minimum earn-in commitment outlined above will cost approximately US$50 million. The additional funds will be spent on exploration, development and infrastructure upon successfully completing the initial farm-in requirements.

This agreement forms the cornerstone of a long term strategic alliance between Circle Oil Plc and China Shine with regard to oil and gas exploration and development in Namibia and other substantial areas currently under evaluation by Circle Oil Plc.

China Shine must drill no less than three wells to depths of between 5,000 meters and 7,000 meters to test prospects delineated during previous exploration programmes and acquire no less than 3,000 line kilometres of 2D seismic data.

Mr David Hough, Chief Executive, Circle Oil Plc, added that Circle Oil is delighted with this agreement; cementing a relationship with a major partner with financial and technical ability. The Company is confident that the project will deliver long term growth and substantial shareholder value.

Mr John Mc Keon, Director of Business Development and Marketing, Circle Oil Plc. said that this agreement takes Circle Oil Plc into the next phase of its development with a strategic financial and technical partner. It forms the basis of a strong long term alliance with the China Shine in the exploration of Circle Oils extensive 40,000,000 acre concession in Namibia. Furthermore, we look forward to working together to complete the drilling programme and assist them in their long term plans for extensive oil and gas development.


wilbs

Thats me out. Up 74% so I had a good run. Onto the next one now.
Good luck to all that still hold.

wilbs

This is a real fallout...down 17p this morning to 41p only...i'm bailing out too

Why is everone bailing out its not as though the news wasn't expected. China is desperate for oil. Massive investment and an 18% return for just holding the licences. Plus many more licences held.

I think everyone took a good profit just as I did. The news was prob in the sp as it rose on hype of the news. If it drops alot lower then there is a great buying opp.All IMHO
wilbs

If it slides below 30p then may be tempted but on very "dodgy ground" (pardon the pun!) at the moment. SP was obviously way ahead of itself, a backtrack was so obvious, in hindsight! Still think COP is an excellent long termer (a yr plus?) though. But we're not going to see meteoric rises again, not for a good while, i don't think (IMO).....

.....creeping back up slightly. Interesting. Maybe Bankone undertones are right? Think we'll see what it ends up at, at close - that'll give a clearer indication, I thuink.

I don't believe there is any difference to yesterday only stronger in the knowledge that the Chineese are in on this one and they can't half work fast.
Took a small profit and bought back in at 40p so watching with interest today. I think it may end back up at 50p or so +/- 1p. Good luck DYOR

I wouldn't go in at this price. Will take time to settle and see a sustainable sp. Without additional news, expect sp to drift downwards in the short term.....

I think there will be more downtrend next week for circle oil

Hi Kus

Yes I did hold. Don't know if It was a good call yet. The candles are only an idicator. COP was over sold at the time, So correction was something that was going to happen (as with any company which is on the up) . What we dont want to see is the candles goin under the averages (10 day, 20 day definatly not the 60 day). Don't allow big down candles under the 10 DMA. You are doing the right thing with sharescope, first steps are always the biggest. But remember the charts only reflect what is going on today. News is what brings the future. If you look at the last days candles it appeared to have mixed veiws. Did we think COP would ony hold 28% after the farm in ?

If the answer is yes then you will hold.

If the answer is no then you will sell.

So not all your decissions, will be made from charts. Charts only help you make your choice.



Greed & fear was Fridays trade !


News is very important !

If you look at the last candle. The close wasn't on the high . Or even more importantly the the low. So this means it could go either way. If you apply he who dares, you might also include sods law. I would say COP is moving forward, recent float, nambi news ect. Based on this COP will rise. It appears the majority thinks the close of trade.

Kind Refards

Eddie

Too expensive... 17p my price to get some

Hi inbusk

What are you basing your 0.17p ?

I would also like to buy at 0.17p.

Do you have other news ?

Oh by the way we have twin girls (just over the 1) that get us up. What is getting you up on Sunday morining ?

Kind Regards

Eddie

COP is overvalued...it will go down tomorrow.

Eddie,

Thanks for the input. Trust you receievd my p-email, by the way?? sound advice re: the graphs being an aid to decision making, etc. Agree with what you wrote wholeheartedly.

I'm out of COP now, as you know, although I defo think they will rise in the long run. My mate still holds them and I wish him and yourself all the very best with this one. I would like to come back in at some stage but will chose the right moment. Just IMHO - I think the sp will start to jagger back down until the next news comes. The impetus has gone now. I have a target price on re-entry but at the moment I think there are better opportunities elsewhere.

Agree with Hlyeo98 and probably Inbsuk's 17p is closer to the mark of what COP is really worth right now although my re-entry point is higher than this, I have to say!

Wish all you holders the best of punting.....

Kus.

Mentioned in weekrend press.

Circle Oil secures govt approval to explore Oman's Block 49 prospect
AFX


LONDON (AFX) - Circle Oil PLC said it secured the license to explore an oil field in Oman in the Middle East.

The permit to explore Block 49, also known as Montasar, will run for six years.

It covers an area of about 15,400 square kilometres and lies immediately to the west of Block 6 which produces over 700,000 barrels of oil per day, Circle said.

NEWS FROM DAILY MAIL - SAT 7TH MAY 2005

Exploration Group CIRCLE OIL gushed 2.75 to 34.75. Two Senior Honchos of private Chinese group CHINA SHINE fly into London today to discuss CIRCLE's onshore exploration Licence in NAMIBIA. CHINA SHINE intends to spend at least $50m on drilling three exploration wells in the 40million acre concession site.

Bankones comment!

Will this share now begin to reap the rewards of these licence and will the share price reflect the investment - China are struggling to meet thei oil demand and this appears to be a very positive move to find an oil supply.

Is there only me interested in this share. Hello anybody there is this now on the up and up eventually and will we see a price breakout. Good press last weekend - LAST CHANCE TO BUY UNDER 40P - YOU HAVE BEEN TOLD.

Another blue day today :O - )). More to come. Excellent News Due. Will have DES and CSH in its wake.

Bankone,
yes there are others intrested in this share, me for one.
Got in below 37p and will be staying in. In CSH as well, hope both perform.
Good news would make my month, as I'm feeling a wee bit edgy about a few others I hold.
lol
Sambal

Steady increase today another 3.5p so far and a further 2 hrs to go. Onwards and upwards, big news on the way.

I'm interested too. Got in at 16.5p early, but got a bit miffed at price sliding downhill.

But I'm starting to get quite excited about the chart now.

yes, looking good now. very pleased. bought in at 43 and watched them drift so very pleased with recent rise.

Up 7%+ = 3p Early and still strong buying will be 50p by Friday - Positive News to come with Positive press should see share hit 75p to 85p nextweek.

positive news would be great!!!!!

News release from Circle Oil this afternoon:


Statement Regarding Price Rise


The directors of Circle note the recent rise in the Company's share price. The
Company is currently awaiting consent to announce the approval of the award of
a new exploration licence block. The award will be subject to the entering into
of an agreement covering all aspects of exploration, development and
production. A further announcement will be made in due course.

In addition, the Company expects to announce its preliminary results for the
year ended 31 December 2004 next week.

-Ends-

David Hough, Managing Director
Circle Oil PLC
Tel. +353 61 354831

Chris Roberts
Hansard Communications
Tel. 020 7245 1100

nice one.

Do not fall for the tree shake by the MM's - Bigger News to come - Massive Well known 'Farm In Partner involved'. Once released will leave 47p (premium being paid on buys yesterday) in the distant past. This will move upwards today CONFIDENT 0: - )))

Bankone, IMO this will go bigtime. The areas COP have EP licences in and with the Chinese onboard(not definate yet, but most likely) with more cash to expand it IMO can't fail to give the SP a major boost. CONFIDENT 0: -)))

Got back the temporary dip (probably on profit taking for the weekend) on Friday early monday(when buyers will return). Results will be good. Expect heavy buying today and tomorrow. I expect results Thursday morning. Meanwhile value of Crude will reach even greater heights pushing this share Northwards. News flow will accelerate upto and after results. CONFIDENT 0: -)))

Now that the results are out and doesn't show anything that wasn't expected i.e Nil revenue. The positive newsflow will start to be revealed. Expect swift and steep movement over the next couple of days. This will gush. Leaving the station so get on board DYOR.

Moving now 43p to 46p bid within last 10 mins expect announcement later today or tommorrow morning. Insiders (like us) lumping in.

Last chance to get in at around 50p. Massive news on the way, otherwise why all the movement and buying.Can't say too much but the recommendation on this is a strong BUY. Will be 75p to 85p by the middle of July - No problem.DYOR

Bankone is right, news is imminent. Don't let a small dip shake you. dyor etc

No announcement yet,sp up

the rumour is news next week with CS broker update valuing COP at 500m (currently 59m).

very excited.

DB

:0)

What is the rumour, what type of news,even a clue.

as quoted elsewhere "Collins Stewart values the company at a potential +500Million valulation based on current prospects and a conservative price of 40 Dollars per barrel.Very interesting read."

The dogsbolloox Thats not the what I have had given to me - Big News definitely imminent will rocket this share 75p - 85p by the end of july

The new (30 Jun 05) Collins Stewart 30 page note, in full, now on circle oil website. enjoy.

http://www.circleoil.com/site/documents/brokers_report_30605.pdf

current mkt cap = 59m

good week ahead.

DB

Is there any news on circle oil soon as there seems to be a lot of interest at the moment

tipped by PennyShares today and apparently by ZakMir on a technical basis.

loads of possible news due, just a case of holding and adding in the meantime...

This has a barrier at the 40p level. If it can get through and consolidate, I can see 1 in the shares

38.5p is the first downtrend line we must hold above to move into a new uptrend..

Two 500k buys today. Something brewing?

4 x 100k buys on Friday, a lot more volume here and +ve comments in the IC. Looks like the bottom may be breached, onwards and upwards to Xmas now.

Any news??

??

Looking Good..

http://www.timesonline.co.uk/newspaper/0,,2706-1900864,00.html

2nd good day in a row from this although I should admit that I am only just about back to level from already holding.
Now must go and read Times!

Unconfirmed statements over the other side that "requests for information" to John McKeon, Director of Business Development and Marketing, were met with "news very soon" and"investors should look forward to a good Christmas".
Also from David Hough, Chief Executive, "I normally get a quick reply but so far he's keeping mum"
City presentations this week were apparently by all accounts very well received.
Good to see the stock overhang cleared
So are we all set for a prelude to important news.

Word is that the institutions are now buying, as they know news is coming

2 huge buys of 4.7M
comments anyone?

get up early and enjoy the ride

On what basis are you saying that,if its a fact than i will other wise i need to catch some sleep.

Look no further for the next multi-bagger

I hope you are right.
I read, right or wrong, elsewhere that director buying in the past month means that no announcement is possible before the 19th of December although I am no expert in these legalities. So we may yet get the good Christmas alluded to by directors!
Anyone else here in Tertiary Minerals (TYM) which had a spectacular rise today!

Houston we have lift-off, WeeeeHaaaaaaYeeeee

Talk elsewhere of positive presentations in London this week? Directors apparently flying in from all corners of the world? 4-5 announcements expected soon???
Can anyone on here confirm any of this?

Hello,

Could you point me in the direction of the 'talk elsewhere'? I am currently sitting on a loss with COP. I bought into COP back at the beginning of Sept and have seen nothing but a loss. So any good news/potential good news would be nice! I have google alerts set for "Circle Oil" but nothing major has turned up. Thankfully positions in BUR/PRTY and AVM have more than made up for my loss.

Regards,
Jon

News leak, COP on the move now

It's the fifth potential company maker, mentioned over the other side earlier last week and presented to a wider audience just before the price rise on Friday.
Nothing from the company yet but it could get interesting soon?

hodgins, are you aware of how COP's application is progressing as it is now a month since your last post? The sp seems to suggest nothing is that imminent but it is easy to get bored only to find that that is the moment just before there is a major announcement

Director share buys between 18/10/05 and 18/11/05 totalled 750,000 shares at sp's within the range 25p to 31.52p; Bought in 5 tranches, the biggest of which was the last reported one on 18/11/05 of 375,000 shares at 25p. They were obviously expecting something good and we are now sufficiently clear of their buying spree to expect that news. Anyone any thoughts?

there has been rumours floating about for a while,,,any body got any idea what is in the pipeline.

.

Oil or gas i hope.

what deals are circle looking to pull off in the shortterm,,ive had a speculative punt,

just ticked up,lets hope theres news shortly.

Trotting, I'm hearing that there is some asset allocation likely to be awarded to COP. Somewhere in the Middle East Anyone know if this is what was being expected prior to Christmas?

Copied from ADFVN post by One2two1
Circle Oil eyes 'promising' year
Moneyweek
03.02.2006


Best of the Day Article

A cheap way to make money from China

Up until recently, the best plays on China's growth were Japanese stocks and commodities. But both asset classes have come so far that investors might be better off looking for another way to gain exposure...
Oil & gas outfit Circle Oil issued an operational update today ahead of final figures and said the year ahead looks promising.

Chief executive David Hough said, "I am pleased with Circle's progress during a year in which we have become established in some highly prospective hydrocarbon regions."

"The year ahead also looks promising, with a number of exciting opportunities emerging, in particular from the Middle East."

"Having raised 10m in August 2005 the net cash position at the year end was approximately $17.2m which the company considers to be sufficient to cover its ongoing expenditure requirements and obligations," he added.

Circle's reconnaissance licence in Namibia, originally acquired in March 2004, has been converted into an exploration licence covering 140,000 square kilometers, the group said.

The company is about to open a local office in Namibia.

Circle has begun discussions with other industry partners who have expressed interest in the exploration area.

In Panama, the group's prospecting permit over Block A in the south-western Caribbean covering 30,000 square kilometres is already showing evidence to suggest the existence of hydrocarbon sources which enhances the prospectivity of the block.

Circle has entered into discussions regarding possible agreements with another oil company that would involve it reducing its equity stake in the block in order to recover its historic costs with future costs shared.

It is currently focussing on exploration and development opportunities available in the Middle East and is assessing a number of potential acquisitions in the region, it said.

The group also announced the appointment of Brendan McMorrow as its chief financial officer with immediate effect.

Results for the year ended 31 December 2005 are expected to be released in May.



One2One1 - 1 Mar'06 - 10:12 - 5675 of 5681


Shares Magazine
Thur, 09 Feb 06

"Little oil & gas outfit Circle Oil (COP:AIM) remains in upbeat mood, with a number of exciting opportunities emerging, particularly in Oman in the Middle East, where it is currently mulling a number of deals. Circle is also about to fling open the doors on a new office in Namibia and reports promising findings from early studies of a prospecting permit over Block A offshore Panama. The shares trade at 32.75p, valuing the firm at around 52 million."

One2One1 - 1 Mar'06 - 10:20 - 5676 of 5681


This story was in the market round up in the independant around the start of feb, it backs up my theory of big buyers in the back ground buying on any weakness.

"In the small caps, traders were watching Circle Oil as rumours did the rounds that the company is about to sign a major deal in Iraq, although the price fell a penny to close at 35.25p. Some traders believe a deal in Iraq could add 40p to the company's value. One market maker said: "We aren't just seeing retail buyers get into this stock. There are quality institutional buyers looking to pick it up as well."

Sharesure2 - 1 Mar'06 - 10:32 - 5677 of 5681 edit


One2One1, Thanks for that round-up. It looks likely that it is the Iraq deal which is about to be announced; I hope that it is in the north, or second best the south, but not the midddle! A deal in the north, close to Turkey would be quite a coup, if that is what they are after.

This is looking interesting Sharesure. Institutional interest combined with previous sizeable director buying makes it worth a closer look.

Is anyone else hearing that a major contract in northern Iraq is being awarded to COP and that the news should be confirmed in a matter of days? That would be a reasonable location (for Iraq) as it is nearer to Turkey and would be in the Kurdish region.

from todays times:-

Talk of a profit-sharing deal in northern Iraq saw Circle Oil harden p to 31p.

I am hearing that it is a Production Sharing Agreement (as opposed to a Profit Sharing Agreement) on a large highly prospective area in the Kurdish region in northern Iraq close to the Turkish border and also close to existing infrastructure. Apparently the RNS confirming this awaits final sign-off by the new Iraqi Gov. Considering that that is led by Kurds maybe they will wish to see that area get commercialised faster than other areas in Iraq so that it can give them more leverage.

That would indeed coincide with todays 6% rise. Perhaps they are expecting the sign-off this weekend or early next week.

Expect good news on COP this week.

The price action cf with sells v buys gives a good pointer to where this heading, north and very dramatically with the right news.

Very orderlyrise today, virtually a half a penny each hour and closed very near the days high. Who said the directors are in Moscow?

Express

SHARE WHISPER: CIRCLE OIL (speculation about a potentially lucrative deal in Iraq)

MPH: that fits;

My latest information says that both Circle Oil and Chaco ( for those running both of these stocks) will be signed and announced this week and that both announcements will be excellent news for the respective companies.

Is anyone else hearing that COP is to be awarded two blocks in Iraq and that the RNS will be out this week?

Heavy buying today sharesure and price goes south, hope your right mate. Good luck.

Heavy buying all this week for a reason, Iraq news release is imminent.

lets hope so TheMaster

Price action would definately suggest something spectacular is about to be released.

Tokyo, good to see your posting again, missed your informative views.
This company much better investment then Petrel.

Thanks TheMaster, PET still have a pretty good future IMHO, but not one that I'd be holding at the moment. COP now will have their moments in the sun and are building up to something pretty impressive. I'm sure time and an RNS will tell us what. Won't bother with all the rumours as the share price speaks for itself, word in the city is that there is alot more buying than just private investors. I haven't heard any info to confirm these Russia rumours.

I hold quite a few of these and like PET I'm pretty certain that they will come off and the SP will shot up into the pound region, whether it will stay there or not, now that is a question for how good the management are and what other companies they bring in on farm out deals.

Any one any ideas when we expect news on COP?

Too many false dawns on this one but RNS of 3 Feb.seemed to have been issued to buy time whilst they make progress. They haven't issued a "no knowledge as to why there has been a recent strengthening of the share price." If they felt RNS of 3/2/06 was required then, if there was no substance to the recent strength in share price, to be concistent they could have issued a further RNS. Couple that with nobody being prepared to say anything. On that basis I suspect some news is imminent?
Anyone else got any views?

Sharesure - the management keeping quiet just before the deal is announced is exactly what happened with PET before they got their deal in Iraq and the share price tripled. The fact that the management are keeping quiet speaks volumes to me. Still holding and will continue to do so until we get the RNS.

Some very large trades going through at the end of day...

Huge number of buys today, hardly any sells, yet the price has not really moved. Why is that? Will it take an RNS on the Iraq deal for the price to really shoot, or will the number of trades have an effect?

MM have been paying over the bid for stock today, so some of the reported buys are actually sells. Still more buys than sells though. A little patience is needed with this share.

Thanks Tokyo, let's hope we get some good news soon. In the meantime, we'll just have to remain patient as you say.

Any thoughts were this may head next week?

Anyone seen any w/e press comment on COP?

Tried to get an update on when the expected RNS will be made. The source of comment on this has clammed up completely. Hope that that is a positive sign as it has been elsewhere.

Sharesure.

Last week I believe you felt reasonably confident,that an RNS was fairly imminent,i.e certainly weeks rather than months and quite even possibly days,with your source clamming up,has this changed your perspective and do you do gut feelings.

Peter

BKK2 I'm still holding but as this is not a very large % of my portfolio I am relaxed about it and take the view that there will be an RNS sometime soon particularly as they felt the need to put out a holding RNS last month. My guess is that they are just finding it difficult to get the sign-off. Similar to CHP. Interesting to see which comes first.

BKK2 further to post 154 have had a further reassuring comment that this share is going to perform. Have acted accordingly.

Nice to hear,Thanks Sharesure

some nice buys coming through this afternoon ,seems to take large volumes to move this one though.

Suspect sp weakness today is t/y/e CGT related. As far as I know nothing has changed in terms of what COP is trying to get documented - it's just taking time.

Sharesure
I don't know if you have seen this or if it's for real but here it is.

Irish investors in media deal of the decade
The Sunday Business Post
Dublin
26 March 2006 By Eamon Quinn
Three Irish investors are spearheading a London stock-market listing with the largest private media group in China in a deal its promoters describe as the Irish media deal of the decade.

The new company will control Chinas largest TV shopping channel, internet distribution through a fibre-optic network linking 440 Chinese cities and rights to TV entertainment programmes.

The Irish-registered shell company, Global Voice Plc, is owned by John McKeone of Circle Oil, Tom Jones, a Smart Telecom stakeholder and investor in the central Dublin newsagent Bon Espresso and Gerald OMahony formerly of AIB Capital Markets. The company will be renamed Sun Net Networks and trade as Sun TV Shop after the flotation.

The Irish investors have linked up with Chinas richest media mogul, Bruno Zheng Wu, chairman of Sun Media Investments, which owns six commercial TV channels in mainland China, TV production facilities and 37 publishing titles.

Wu, who was named last year as the 52nd richest Chinese businessperson by Forbes magazine, was in Dublin last week to meet Conor Lenihan, Minister of State at the Department of Foreign Affairs.

Wus wife, Yang Lan separately listed as the 56th wealthiest is a well-known TV presenter in China. She helped to promote Chinas successful bid for the 2008 Olympic Games in Beijing.

Wu told The Sunday Business Post that the media content business would be distributed on the network, including shopping, cultural and media channels.

His Sun Media Investments group includes 130 million internet users and a TV shopping network, which is supported by a direct sales force of 6,000 people.

We have a whole cross media shopping capability, Wu said. We can reach an audience and keep the audience with content.

Driver, I hadn't. Wish J McKeone, Esq. would concentrate on finalising his Circle deals! I only bought recently, before the latest talk about Iraq, some folk have been more than patient with him.

Is anyone on this BB still interested in Circle Oil? The Cantor Fitzgerald notifiable stake (see today's RNS) inspires confidence - they don't have a reputation for wasting cash.
Also for those who posted that the Kurds cannot do oil deals in Iraq until the Gov. has been formed, I have found out from a contact whose family are in the Gov. that that is not true. Apparently they are keen to do deals now, so it seems that is not the cause of no news on those rumours. Although they may have been just that, Cantor's stake suggests that they believe something is going to be announced sometime soon. Just when I was thinking of cashing these in as a lost cause!

Hi there
I dont post very often but read this BB all the time. I still have a stake in Circle. Like you, i was wondering when best to cash in and get out, but i might hold a little longer to see what, if anything, transpires.

Regards

Evenin' all. I'm not a close follower of COP, but want to stick my oar in to see what others on this thread have to say.

I like Circle in theory, as it appears to have a diverse portfolio, albeit largely of hitherto unexplored regions, but my reaction when weighing this one up some months ago was that they're going to be spending a lot of time and money on seismic and the rest before they get anywhere near drilling. Their recent ops update does nothing to dissuade me from this stance. I realise they're looking at acquisitions in the Middle East, but I feel I'd prefer to wait and see what these might be before jumping in. I've therefore filed this away as one for the future, while I concentrate on some of the other E&P plays out there. I just think that there are better ways of making money in the near term ("Victoria Oil & Gas" springs to mind).

Too many small-cap oilers spend a long time see-sawing about while at this stage. As a veteran of SBE, BLR and NOP I've seen a fair bit of it. Once COP gets ready to drill, though, it could prove interesting. Meantime, there arent quite enough "definites" coming out of this co to entice me in.

(Now watch it rocket to 500p while I sit on my hands . . . !!!)

WDIK, IMO, DYOR, Don't Blame Me :o) Contradictory opinions (polite ones, preferably) are more than welcome.

On the move again today, news overdue, does the market know something??

The Master, see my post #161. apart from Cantors stake I think that this is capable of popping up at any time soon.

Could anyone tell me what the hell is wromg with this stock? No news and no sign of news coming out? any thoughts will be welcome.

On the move again, possible break-out, news could have leaked from Iraq

the master, lets hope so hava a loy riding on this.

sorry about the spelling eating cornflakes at same time as typing,not a good combo

Great volume now and some big 'M' trades, all goes well for later.

The master,

have you anything specific regarding iraq

Soul trader, I agree with you on VOG, and I think given a little time COP will trail along after it. Others shouldn't wait too long before getting in at a good price. Another one to watch of course is PET - a bit of see sawing in the past twelve months but Iraq did give them the contract and others, including me, have done well out of them so far and they have a ways to go.... UP. However for them, as always, DYOR.

sharesure, alot of share trades on Fri, any idea why this mightbe?

jamee, I thought they were roll overs of a trade that appeared a few weeks back; someone on ADFVN reckoned that they were institutional swaps between funds. Just wouldn't want to see that size of trade dumped on the market without it coinciding with a stunning RNS!

sharesure, will al this spec of an iraq deal ever going to materialise? I wonder what ur views are on GLA? And which other stocks ur in, other than CHP, which is prob. abit to late for some1 wantin to make a little bit

jamee
Have a look at GOO not a ramp just thought you may be interested.

thanks Driver, I will do

I still keep hearing from an Irish source that COP have done all they are required to do with their Kurdistan applications and that they await sign-off. Since other companies are getting their sign-offs, eg Sterling Oil yesterday, it shouldn't be too much to expect that the areas COP has gone for should also get sign-off shortly? Not intended as a ramp - I halved my holding a while ago and decided to let the rest run, purely out of curiosity and as a source of emergency funds should the need arise.

Sharesure,

I might be able to help regarding the "institutional swaps between funds" (your post #174) if you're interested. Did the term "portfolio trade" or similar come up?

Dartmoor,

Good points. I'm watching and waiting. I have enough irons in the fire at present and it's really a case of picking a good time to top-slice and re-invest in other good prospects.

Best of luck to all, etc.

Today this is looking perky while most other stocks are still sinking. Any views?

Results due out this week, with the northern Iraq contract news?

For what it may or may not be worth, John McKeon is currently in the Middle-East for just over a week; whether that means he's signing anything remains to be seen; we seem to have been here too many times before, although the strength in the sp looks very suspicious given how other resource sector stocks are faring.

Heard from a reliable source, that a director (DH) is due back from the middle east next week, with Iraq contract signed.

TheMaster, are you the Phurley from the other board, I hope you are correct have held these a while now, although not as long as some I suspect.

Can you give us any further details, in particular when we may get an announcement and is it Iraq or Oman.

Many thanks.

No I do not post on any other boards. I phoned the company and they told me that the results would be released the 1st Friday in June, complete with an operation update.

Has anyone heard any reliable information on COP? - seems to be very strong - both Friday,26/5 and now this morning.

Todays Mail on Sunday says that Circle will announce next week a deal in Morocco to exploit a major potential gas field in the Rharb basin in the West of the Country.

269sq km area, and in an area with existing pipeline infrastructure.

Good news at last!!??!!

I lost patience with COP about 6 months ago, but this could be time to get back on board........

Exploiting a potential field and drilling with success are a long way apart

News will break today on test drilling now under way in Morocco.

I'm so glad I didn't go and sit outside the COP offices waiting for the announcement . . . . :o)

Whenever I look at this company it always seems to have years of seismic ahead of it. Still not much to get excited about until they have a drilling programme up and running, IMO, but PDYOR.

Looks like we have to wait to Tuesday for the RNS

Published: August 25 2006

'Circle Oil, which has interests in Morocco, Namibia, Oman and Panama, rose 6.3 per cent to 25p amid talk that the Moroccan government had ratified its exploration licence for a gas concession in the Rharb Basin and that test drilling had commenced.'

http://www.ft.com/cms/s/d66f68d4-33d5-11db-981f-0000779e2340.html

From todays Daily Express,
Circle Oil,the subject of rumoured stakebuilding by a multinational oil giant,firmed 2.75 to 29p as gossips reckoned a major deal was in the pipeline.

RNS out today on Oman, block next door to Shell production area, more news possible on Morocco before the AGM next week.

I think this have bottom out??

I think this have bottom out??

heard news leak from COP and its good news

What kind of good news?

This sort of news in the same area as COP:

http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article1643808.ece

These have almost doubled in the last two weeks,i only have a few of these,was very tempted to top up but somewhat nervous,chp,goo,

Any thoughts on cop @these levels would be most welcome.

Good for 25-30p in the near term IMHO. TheMaster would appear to have their ear to the ground ;0)

Question will the price of Oil go up? Yesterdays news B.P. running out of new Oil fields. Todays news Mr. Keyes has bought 6,400,000 shares (3.93%) of Circle Oil. Mr. Keyes and others are getting into Circle Oil because of their new oil fields.?. Full report at shareclubuk.co.uk

COP currently in joint venture talks, this has been the course of the sp rise over the past few weeks.

Circle Oil Share price has moved up apace over the last few weeks I am not complaining as most of the members at shareclubuk.co.uk are making a profit. I have read the market news on the company and feel that there must be an underlying reason why the hike has taken place. Any one in the know? please advise us at the club.

Heard that company expects big oil field in Oman, which borders the Shell block, should get conformation RNS tomorrow. Remember the instutions paid 32p for these shares over year ago and they want profit now.

new money, ready for expansion,sp already up.
good luck everyone!!!!

24th October 2007 Meeting of shareclubuk.co.uk investor - members on Circle Oil plc. Club notes true facts..

27th September 2007.
Mr Thomas Anderson, Chairman of Circle Oil, said:
It has been a very busy period for the Group and the workload is rapidly expanding with the start of drilling in Tunisia and seismic operations in Morocco and I look forward to reporting on the results of these programmes in due course.

1st October 2007.
The Company has been advised that Mr John P McKeon, a director of the Company, purchased on Friday 28 September, 1,200,000 ordinary shares at 25.25 pence per share representing 0.74% of the Companys issued capital.

Following this transaction, Mr McKeon has a beneficial interest in approximately 9.5% of the Companys issued share capital.

Club notes: We were pleased to read of the purchase of additional shares by Mr. John McKeon, a director of the company. The 27th September announcement to the reporting of the results of the drilling programme is now a key factor. The club can report a proven 25% profit to date on the investment which is down on the last weeks trading.

Anyone know why this is strengthening and if it is worth a punt?

Sharesure it would have been worth a punt when the sp was hovering @10p.

I had a small dabble @12 and sold at 16.

Circle Oil shares have been trading well over the last few weeks. I would be most interested to here from anyone who is trading any COP shares, please advise by e.mail to colin.wakeham@shareclubuk.co.uk. many thanks.

its took six months but it could just be about to pay off

All cash share offer!!!!

Good news out today from Libya (oil find) & Iraq (oil Law)

what's the news

any reasson for the sudden steady rise in the sp in the last week or so

This is one that not many people follow, but now has production of over 7000 barrels of oil per day......and much more to come.....underestimated company this one !.

http://www.advfn.com/p.php?pid=nmona&cb=1265008026&article=41331286&symbol=L^COP

dont forget hooked up at geyhad2 and production started apparently - next announcement expected - this must go north today imo fd target this year 72p - http://www.fox-davies.com/media/111528/fdccircle15january2010.pdf gla

Tipped in IC this week as a BUY
"With better cash flow outlook and a healthy drilling program - two exploration wells are also planned in Tunisia in H2 - COP's shares could claw back some of their lost value. Indeed, add in risked assets and exploration prospects and Peel Hunt estimates NAV at as much as 83p p/s."

Circle Oil Plc (AIM: COP), the international oil and gas exploration, development and production company, is pleased to announce the following update regarding the Al Amir SE Field ("AASE") and the Geyad field.

Geyad-6 Well
Infill producer well Geyad-6 was spudded on 10 September 2012 and is located in the south central part of the Geyad field, east-north-east and updip of the Geyad-5 injector. The well's objective was to appraise both the Shagar and Rahmi sands for production in that location. The well reached a TD of 6,200 ft MD before being sidetracked to the north-east, for geological reasons, as Geyad-6 ST1 and was then successfully drilled to a total depth of 6,350 ft MD into the Upper Rudeis. The well encountered 7 ft of net pay in the Kareem Shagar sand and the well has been completed as a Shagar sand producer. The well was perforated in the interval 5,996-6,006 ft MD and flowed oil and gas on test at an average rate of 1,559 bopd and 1.346 MMscf/d respectively, on a 24/64" choke. The well has now been placed on production at an initial flow rate of 913 bopd using an 18/64" choke.

Al Amir SE 13 Well
Following the successful completion of the Geyad-6 ST1 well, the rig has been mobilised to drill the infill production well AASE-13 in the west central part of the AASE field, located between AASE-4 and AASE-11 ST and updip of water injector AASE-7 ST.

Geyad 1X ST Well Work Over
This well is being re-completed as a producer in both Shagar and Rahmi sands. The total oil production from this discovery well in the Geyad field is 764,000 BO. Following re-perforation of these intervals comingled production will be flowed through a new completion string.

Operating Update Tunisia

Circle Oil Plc (AIM: COP) is pleased to announce the following update regarding operations in its Grombalia Permit.

The Bou Argoub-1 (BAB-1) exploration well in the South West Belli area of the Grombalia Permit, near to the Belli, El Manzah, and Beni Khaled fields has spudded and commenced drilling on 30 October 2012.

The BAB-1 well has an expected total depth of 1,350 metres and is targeting a fault-bounded structural culmination crossing two vertically stacked fractured carbonate reservoirs, the Eocene Bou Dabbous Formation and the Late Cretaceous Abiod Formation. These are the main oil-producing formations in the north-eastern part of Tunisia.

Following completion of the BAB-1 well, the rig will move south to the Ras Marmour Permit in preparation to drill the Sedouikch commitment exploration well. This well has an expected total depth of 2,350metres and is targeting the Early Cretaceous Lower Meloussi sands, productive in the nearby Robanna and Mazrane Fields.

Further updates will be made in due course.

The shares trade at a discount to the estimated value of the firms producing assets.
According to house broker Investec the company fields in Egypt and Morocco underpin a net asset value per share of 27p well above the sp today. A result is expected early Dec for the Bon Argoub-1 well in North- Eastern Tunisia, which drilling commenced on the 30 Oct. If a successful outcome it could de-risk a further 136 million barrels of oil on the wider Grombalia block.

StockMarketWire.com
Circle Oil is delighted with results from the infill producer well AASE-13 on the Al Amir SE field in Egypt.

The was spudded on 14 October and is located in the north central part of the AASE field, between AASE-4 and AASE-11 ST and updip of water injector AASE-7 ST.

The well's objective was to appraise both the Shagar and Rahmi sands for production in that location. The well reached a TD of 10,350 ft MD in the Upper Rudeis.

The well encountered the Kareem Shagar sand from 9,894.5 to 9,930ft ft MD with 20 ft of net pay and the Kareem Rahmi sand from 9,974.5 to 10,027.5 ft MD with 29 ft of net pay.

The well was perforated in the interval 9,895 to 9,908 ft MD and completed as a Shagar sand producer. The well flowed oil and gas on test on 30 November at an average rate of 1,600 barrels of oil per day and 1.3 MMscf/d respectively, on a 32/64-inch choke.

The well is now producing following completion of testing at an initial rate of 873 bopd and 0.836 MMscf/d on a 24/64-inch choke.

Circle says that following the successful completion of the AASE-13 well, the rig has been mobilised to drill the infill production well AASE-14 in the central part of the AASE field, located between the AASE-1 and AASE-12 ST production wells.

Circle says the Geyad 2X ST well is being re-completed as a producer in the Rahmi sands. The total oil production to date from this discovery well in the Geyad field is 210,000 BO.

Following perforation of the Rahmi sands interval between 6,565 ft and 6,595 ft MD, production will flow through a new completion string.

Circle says that currently production from the AASE, Geyad and Al Ola fields is approximately 9,840 bopd (gross). Cumulative production from the NW Gemsa Concession has now exceeded 9.8 million barrels of 42 degree API Crude oil and water injection has now reached a cumulative injection of approximately 7.2 million barrels.

The NW Gemsa Concession, containing the Al Amir, Geyad and Al Ola Development Leases, covering an area of over 260 square kilometres, lies approximately 300 kilometres south-east of Cairo in a partially unexplored area of the Gulf of Suez Basin.

In the event of commercial discoveries, the concession agreement includes the right of conversion to a production licence of 20 years plus extensions. The NW Gemsa Concession partners include: Vegas Oil and Gas (50% interest and operator); Circle Oil Plc (40% interest) and Sea Dragon Energy (10% interest).

Working Capital Facility - US$12.5 Million

Circle Oil Plc (AIM: COP), is pleased to announce that it has agreed a US$12.5 million (the "Principal Sum") secured working capital facility (the "Facility") with Ahli United Bank Egypt ("AUBE"). The Facility will be used to fund ongoing expenditures in respect of Circle's 40% interest in the North West Gemsa Concession ("NWG") in Egypt enabling Circle to use its available cash balances for alternative projects.

The Facility has a term of two years and is secured primarily on certain of Circle's receivables from the Egyptian General Petroleum Company ("EGPC") to which it sells its production from NWG. The Facility attracts interest at a rate of LIBOR plus 4.25 per cent. Under the terms of the Facility, Circle has the right to drawdown up to the Principal Sum to fund on-going expenditures in NWG, and at its option, may pre-pay any outstanding amount with accrued interest, subject to minimum repayment amounts of US$1 million.

Circle currently has cash balances of US$20.50 million.

StockMarketWire.com
Circle Oil encountered a good thickness of reservoir rock at the Bou Argoub-1 exploration well in Tunisia and says the upside prospectivity of future targets remains.

The well - which is in the south-west Belli area of the Grombalia permit, near to the Belli, El Manzah, and Beni Khaled fields - started drilling on 30 October.

The target for the well was a fault-bounded structural culmination crossing two vertically stacked fractured carbonate reservoirs, the Eocene Bou Dabbous Formation and the Late Cretaceous Abiod Formation.

These are the main oil-producing formations in the north-eastern part of Tunisia. BAB-1 reached a total depth of 1,520 metres in the Abiod formation and was completed on budget.

The expected Bou Dabbous reservoir rock was encountered from 1,109.5 to 1,199.5 metres MD with gas and oil shows detected in the finely crystalline limestones with calcite filled micro fractures.

The second target formation the Abiod was encountered from 1,432.5 to 1,520 metres MD, consisting of hard crystalline limestones with weak oil and gas shows.

The indications of hydrocarbons in the Bou Dabbous Formation were encouraging, though following the receipt of full log analysis results from the service company the limestones at this location were shown to have insufficient reservoir quality and hydrocarbon saturation to produce hydrocarbons at commercial rates.

The well will now be plugged and the results integrated with existing seismic and well information to improve evaluation for future work on the Grombalia block.

Following completion of BAB-1, the rig will be moved south to the Ras Marmour Permit in preparation to drill the Sedouikech commitment exploration well.

This well has an expected total depth of 2,350 metres and is targeting the Early Cretaceous Lower Meloussi sands, productive in the nearby Robanna and Mazrane fields.

General Operating Update

Circle Oil Plc (AIM: COP), the international oil and gas exploration, development and production company, is pleased to announce the following update regarding its operations and forthcoming work programmes for 2013 in its operational areas of Morocco, Egypt, Tunisia and Oman.

Morocco
· Six well drilling programme planned for H1 2013 in the Sebou and Lalla Mimouna Permits

· Over 50% increase in gross production from 4.5 MMscfd to between 6.5 and 7.0 MMscfd planned in Q1 2013

· Preliminary interpretations of Lalla Mimouna 3D seismic survey encouraging, with wells in the 2013 programme aiming to provide substantial additional reserves

· Third offtake agreement added 22 December 2012 for initial additional US$0.5 Million per annum

Egypt
· Four well drilling programme comprising of one producer and three injector wells planned from now through to the end of July 2013

· Gross production averaging 9,091 bopd for January 2013

· Additional production now on stream from 12 February 2013 with the start up of associated gas production at an initial rate of 9 MMscfd (1,638 boepd )

· AASE-14 ST2 to be tested and hooked up as another additional producer by end February 2013

· Gas processing expected to provide an additional 140 - 150 bocpd and 35 tonnes of LNG (c. 400 boepd) per day

Tunisia
· 300 sq km 3D survey in the Mahdia permit to be acquired during Q1 to delineate a drilling location for a well in 2013. Seismic vessel arrived Tunisia 15 February 2013

· Two well drilling programme including one well onshore on the Sedouikech prospect in the Ras Marmour permit targeting 20 MMBO STOOIP and one well planned for the offshore Mahdia permit targeting up to 179 MMBO STOOIP

Oman
· Offshore 2D seismic survey of 855 km to be completed on nearshore leads in Block 52 as a precursor to drilling in 2014

· Finalisation of studies in onshore Block 49 to determine prospectivity to drill

· Application for a number of new permits is ongoing

Balance sheet
· Aggressive work programme planned utilising robust current cash position and cash flows from rising revenue stream

· Cash balances in excess of $20 million at end December 2012, up 40% year on year

· Working capital facility of $12.5 million secured to fund existing projects in Egypt thereby enabling Circle use its available cash for alternative projects

· Circle is in ongoing discussions with respect to further senior debt to fund company growth plans

Commenting on the announcement Prof. Chris Green, CEO, said:

"Against the backdrop of significant change in the MENA region, Circle has used its experience in the region to consolidate its position and continues to make excellent progress in its core operations. As a result, Circle is now well placed and well funded to accelerate its operations in 2013 and begin unlocking the latent value in its substantial portfolio."

Operating Update Egypt
Circle Oil Plc (AIM: COP), the international oil and gas exploration, development and production company, is pleased to announce the following update regarding the Al Amir SE field ("AASE") and the Geyad field.

AASE-14X ST Well

The infill production well AASE-14X ST, located centrally in the field midway between AASE-1X ST and AASE-12X ST, encountered 20 ft MD of gross oil-bearing Shagar sand (9,610-9,630 ft MD) with 16 ft MD net pay, plus 15 ft MD of gross oil-bearing Rahmi sand (9,680-9,695 ft MD) with 13 ft MD net pay, with a total depth of 10,000 ft MD. The well has been completed as a Rahmi producer and the initial test rate was 3,486 bopd and 3.18 MMscf/d through a 48/64" choke. The well has been put on production and the stabilised rate on 5 March 2013 was 1,333 bopd and 1,359 MMscf/d through a 28/64" choke.

The rig has been released from this well and moved to commence drilling AASE-16X, a water injector located in the central western area of the field.

Gross production from the AASE and Geyad fields is currently 9,600 bopd and 10,000 MMscdf/d (11,420 boepd). Cumulative production from the NW Gemsa Concession has now exceeded 10.7 million barrels of 42 degree API Crude oil.

The NW Gemsa Concession, containing the Al Amir and Geyad Development Leases, covering an area of over 260 square kilometres, lies about 300 kilometres southeast of Cairo in a partially unexplored area of the Gulf of Suez Basin.

The concession agreement includes the right of conversion to a production licence of 20 years, plus extensions, in the event of commercial discoveries. The NW Gemsa Concession partners include: Vegas Oil and Gas (50% interest and operator); Circle Oil Plc (40% interest) and Sea Dragon Energy (10% interest).

Prof Chris Green, CEO, said
"Circle is very pleased with the positive flow rates from the Rahmi sands of the AASE-14X ST well, where the upside of the Shagar sands remains a target for future production. The rig has been moved to drill the AASE-16X water injector well, which was spud in early March."

Operating Update Egypt

Circle Oil Plc (AIM: COP), the international oil and gas exploration, development and production company, is pleased to announce the following update regarding the Al Amir SE Field ("AASE") and the Geyad field

AASE-16 Well
AASE-16 was spud on 1 March 2013 and is located on the central western flank of the AASE field, downdip of the AASE-10X Rahmi sand water injector. The well's objective was to appraise both the Shagar and Rahmi sands for injection in that location. The well was successfully drilled to a total depth of 11,100 ft MD into the Upper Rudeis Formation. The well encountered 26 ft of water bearing net reservoir in the Kareem Shagar sand (gross interval 10,807 to 10,834.5 ft MD) and in addition, encountered 31 ft in the underlying Rahmi sand in poor quality reservoir facies. The Shagar zone will be perforated and testing is planned to be conducted shortly. The results will be announced in due course.

AASE-17 Well
Following the successful completion of the AASE-16 well, it is planned to mobilise the rig to drill the infill Shagar producer well AASE-17, located centrally in the AASE field adjacent to the Rahmi producer AASE-14ST, which encountered 16 ft of net oil-bearing pay in the Shagar sands.

Production
Gross production from the AASE and Geyad fields is currently 9,721 bopd and 10 MMscf/d (11,541 boepd). Cumulative production from the NW Gemsa Concession has now exceeded 10.9 million barrels of 42 degree API Crude.


Water Injection
Cumulative injection to date is 9.2 million barrels from three injectors in AASE and one in Geyad. The current injection rate is approximately 20,840 bwpd.

The NW Gemsa Concession, containing the Al Amir and Geyad Development Leases, covering an area of over 260 square kilometres, lies about 300 kilometres southeast of Cairo in a partially unexplored area of the Gulf of Suez Basin.

The concession agreement includes the right of conversion to a production licence of 20 years, plus extensions, in the event of commercial discoveries. The NW Gemsa Concession partners include: Vegas Oil and Gas (50% interest and operator); Circle Oil Plc (40% interest); and Sea Dragon Energy (10% interest).

Prof Chris Green, CEO, said
"The success of the AASE-16 well in finding good Shagar reservoir sands below the oil-water contact is an excellent result. This well should provide excellent pressure support to the central area of the field to increase sweep efficiency and ultimate recovery. The rig is planned to be moved next to drill well AASE-17, which is intended as a producer for the Shagar sands nearby the AASE-14ST Rahmi sands producer well in the AASE field as part of the overall plan to improve the productivity of the NW Gemsa accumulations."

Circle Oil Plc (AIM: COP) is pleased to announce its results for the year ended 31 December 2012.

· Increase in Group revenue due to increased production and higher oil and gas prices resulting in sustained profitability

· Significantly improved cash receipts from EGPC during 2012

· Convertible loan of US$30 million extended for three years to July 2015

· Two year US$12.5 million secured working capital facility signed with Ahli United Bank Egypt in December 2012

Operational Highlights

· 100% success in five well Egyptian drilling campaign comprising four producing and one water injection wells

· Egyptian gross oil production up 13% to 3.17 MMbo from 2.81 MMbo

· Moroccan gross gas production up 86% to 1.47 bcf from 0.79 bcf

· Moroccan 8 inch gas pipeline completed early 2012 resulting in increased gas off-take.

Post Period End

· Completion of 12 inch gas pipeline in Egypt facilitating commencement of gas production and associated liquids in early 2013

· Water injection programme continuing in Egypt which is aimed at improving recoverability

· Further increases in oil and gas production in Egypt and Morocco during 2013 to date

· Egyptian gross oil production c. 10,200 bopd and gross gas production 11 MMscf/d in April 2013

· Moroccan gross gas production at 6.3 to 6.7 MMscf/d since early April 2013

StockMarketWire.com
Output from Circle Oil's Al Amir SE and Geyad field in Egypt has increased to 13,000 barrels of oil equivalent per day - 30% up since the start of the year.

And Circle says the AASE-17 well on the Al Amir SE field has provided additional Shagar production potential to complement its impressive 2013 production rates.

The AASE-17 was spud on 17 April and is located in the central western part of the AASE field, 200 metres south-west of the AASE-14ST Rahmi sand producer.

The well's objective was to appraise both the Shagar and Rahmi sands, and for Shagar sand production at that location. This well was sidetracked for geological reasons on 16 May 2013 and was successfully drilled to a total depth of 9,905 feet MD into the Upper Rudeis.

It encountered 12 feet of net reservoir in the Kareem Shagar sand (gross interval 9,561 to 9,579 feet MD) and an additional 16 feet of net reservoir in the underlying Rahmi sand. The Shagar sand interval has been perforated and the well flowed oil and gas on test on 17 June 2013 at an average rate of 3,665 bopd and 1.4 MMscf/d respectively, on a 48/64-inch choke. The well is now producing following completion of testing at an initial rate of 1,134 bopd and 1.31 MMscf/d on a 24/64-inch choke.

The initial total daily production rate from the AASE and Geyad fields following connection of the AASE-17 well is now standing at 11,038 bopd and 11.6 MMscf/d (2,118 boepd).

The rig was released to drill an exploration well, Shehab-2, located updip of the Shehab-1 well, which encountered water bearing Kareem sands.

This prospect has been remapped using the reprocessed 3D seismic data and an updip prospective closure, similar in size to the adjacent Geyad field. It is to be tested with the Shehab-2 well which was spud on 19 June and is expected to take 25-30 days to complete.

Circle says gross oil production from the AASE and Geyad fields averaged 10,631 bopd in May. Cumulative production from the NW Gemsa concession has now exceeded 11.8 million barrels of 42 degree API crude oil.

The overall production rate of 13,000 boepd (oil plus gas) for the AASE and Geyad fields represents an increase of 30% from the start-up of gas production in 2013. Water injection in the Al Amir SE and Geyad fields is currently about 28,000 bwpd and the cumulative injection to date is about 10.7 MMbw. The NW Gemsa concession, containing the Al Amir and Geyad development leases, covering an area of over 260 square kilometres, lies about 300 kilometres southeast of Cairo in a partially unexplored area of the Gulf of Suez Basin. The concession agreement includes the right of conversion to a production licence of 20 years, plus extensions, in the event of commercial discoveries. The NW Gemsa Concession partners include: Vegas Oil and Gas (50% interest and operator); Circle Oil Plc (40% interest); and Sea Dragon Energy (10% interest).

Chief executive Prof Chris Green said: "This well has provided additional Shagar production potential to complement our impressive 2013 production rates. Circle's net share of production has been in excess of 4,000 bopd since early April, with gas adding a further net 4.6 MMscf/d (837 boepd).

"The rig has now been relocated to the north of the Geyad permit to drill Shehab-2, an exploration well updip of the Shehab-1 well. If successful the well has the potential to further add to both our reserves and daily production levels."

StockMarketWire.com
Circle Oil has entered into an agreement with Exxoil to farm into the Beni Khaled production licence which is centred in the Cap Bon peninsula, Tunisia.

Under the terms of the agreement Circle will acquire an initial 30% interest in the licence in return for funding a 50 sq km 3D seismic programme and one well, with Circle's funding expected to be US$5m.

The agreement further allows for Circle to increase its share in the licence to 50% in two equal stages by funding one well in each stage up to US$2 million per well.

The farm-in will be funded from Circle's existing cash flow, resources and facilities. Exxoil will remain as operator of the Licence.

StockMarketWire.com
Circle Oil is to acquire the remaining 30% working interest in the offshore Mahdia exploration licence area in Tunisia.

The company's wholly-owned subsidiary, Circle Tunisia, has agreed to acquire the interest from Tethys Oil and Mining for $3m, payable in two separate tranches.

The transaction is subject to approval by the Tunisian authorities.

Circle chief executive Prof Chris Green said: "We are pleased to announce this acquisition which increases our working interest to 100% in this prospective offshore permit and is another step in strengthening our portfolio.

"The increased interest provides us with greater flexibility for progressing this permit, and maximising value in the event of a successful well."

Investec Buy 19.25 19.13 68.00 68.00 Reiterates

StockMarketWire.com
Circle Oil is increasing production of oil and gas at its Al Amir SE Field ("AASE") and the Geyad Field in Egypt.

The AASE-18 well was spudded last month. The objective was to appraise both the Shagar and Rahmi sands, and for Rahmi sand water injection at that location to support the updip producers.

The well encountered the Kareem sands over 200 feet high to prognosis with 34 feet of net payin the Shagar and 32 feet of net pay in the Rahmi, both zones of good reservoir quality.

Following successful logging, the well is now planned to be tested and completed as a Rahmi producer and the test results will be provided in due course.

Prof Chris Green, CEO, said: "Circle is very pleased with the results of the AASE-18 well, which will provide additional oil and gas production from the Al Amir SE field.

"In addition, the recompletion of AASE-6X for Rahmi production has resulted in a further increase in the total gross daily production to over 13,000 boepd."

Circle Oil is on a higher BREAK OUT today
Since reaching 16p low the pattern was rise , small retracement and rise higher again.

Good volume once again, with larger trades at middle price earlier from institutions

StockMarketWire.com
Circle Oil's revenues rose by 20% to $42.3m in the six months to the end of June and profits were up 10% at $14.7m.

Earnings before interest, tax, depreciation and amortisation increasef by 34% to $25.2m and cash generated from operations after working capital changes rose by 69% to $23.7m.

Chief executive Professor Chris Green said: "The interim results show Circle's efforts in exploration and development activities and increased production levels have been rewarded with further improved profitability.

"Daily oil and gas production levels are at a record level reflecting the benefit of previous investment and activity. We are also starting to move forward on our other existing assets and the recently added new Tunisian assets.

"Our daily gas production in Morocco has risen to in excess of 6.8 MMscf/d gross.

"The addition of five production wells and two water injection wells in NW Gemsa over the last 12 months has further increased oil and gas productivity which now stands at approximately 13,000 boepd gross. The delayed Moroccan drilling programme which will commence in H2 has been increased to 12 wells plus two workovers.

"The back to back drilling, combining both 2013 and 2014 drilling programmes, is designed to further enhance our Moroccan delivery and revenue stream. We have also tendered an additional 2D seismic survey for offshore Oman to delineate inshore exploration drilling targets."

Investec Buy 18.25 18.25 68.00 68.00 Reiterates

Liberum Capital Buy 18.25 18.25 50.00 50.00 Retains

Today is the day, and early on the morning

and already up to 19.25p + 1p

volume is high with 1.1M

Monday's note .....

'Buy' Circle Oil, Liberum says

The market's worries about political instability in Egypt have left Circle Oil (COP.L) undervalued, according to Liberum Capital, which has a 'buy' recommendation on the shares.

Yesterday's interim results from the oil and gas explorer, which has operations across North Africa and the Middle East, showed revenues up 20% year-on-year to $42 million and post-tax profits up 10% to $14.7 million.

Liberum's Andrew Whittock said the outlook for the second half is encouraging, with the drill bits ready to spin on its delayed Moroccan drilling programme.

'With the development of its fields in Egypt almost complete, Circle should benefit from a strong increase in free cash flow - we estimate that it will generate more than US$300m of post-tax cash flow over 2013-17,' he said.

'We believe the share price is over-discounting Egyptian risk and fails to recognise Circle’s capacity to invest for growth both within existing countries and others in the region. Circle is one of the most over-looked small cap E&Ps.'

Shares in the group closed at 18p on Monday, down 0.25p or 1.4%.

Another good start of the day with a rise of 0.75p and now standing at 20.50p

StockMarketWire.com
Circle Oil (LON:COP), the international oil and gas exploration, development and production company, announces that Thomas Anderson, Chairman of the Company, has decided to step down from his position, effective from the AGM, held earlier today at which all resolutions were passed. Nicholas Clayton has been appointed as Interim Chairman.

Thomas Anderson commented:

"I have been delighted to serve as a Director and as Chairman of Circle since 2003. In this time I have had the pleasure of working with a team dedicated to building a world class portfolio of assets and a profitable business on behalf of shareholders. Since taking on the position of Chairman, the company has grown considerably, as has the workload required of its Board. I feel now is the right time to step down and allow a new Chairman to take the helm as Circle continues its development."

moving up nicely news due?

Bought some at 18.50p

Some interest this morning as is on the bounce, yesterday there was some good finish after some days of falling

23 July 2014 - TWO Irish oil exploration firms are expecting a cash boost after the Egyptian government vowed to pay all arrears owed foreign oil within three years.

Petroceltic and Circle Oil are owed a combined $109m (€80m) from the Egyptian oil authority EGPC.

The State aims to accelerate repayments of arrears in the oil and gas industry, which stands at almost $6bn, according to sources. It previously said it would repay half that amount by the 2017 timeframe

Davy stockbrokers said the reports are a further sign of the rehabilitation of the oil and gas industry in Egypt.

“For Petroceltic, the improvement in arrears is already underway with roughly half of the c.$80m debtor position on late payment,” said analyst Job Langbroek.

“This compares with a total receivable position of around $120m at the end of 2012.”

About half of the $80m owed to Petroceltic, which produced 20,354 barrels of oil per day in Egypt, is overdue.

The firm recently revealed plans to raise $100m to expand exploration activity there and in Kurdistan, despite writing off $37m due to unsuccessful wells in Egypt, Bulgaria and Romania last year

Circle, which produced more than 11,000 barrels of oil per day there, is owed $29m, with $21m overdue.

Receivables decreased by 11pc last year, despite a 16pc increase in oil sales for 2013.

More positive news yesterday

Circle planning to drill Oman asset / Thursday, July 24, 2014
By Geoff Percival

Circle Oil is set to further develop its Middle Eastern assets later this year with both drilling and farm-out activity planned.
The work is planned for its operations in Oman, where Circle has held two licences for the past nine years — one onshore and one offshore.

The company is aiming to drill an exploration well at its Block 49 concession, located close to the Saudi border, and has similar plans for its offshore Block 52 licence in the Arabian Sea.

Circle is also looking for a farm-out partner, to help it advance the latter offshore asset.
The company is understood to have been in negotiations with interested parties for a number of months.

In Oman — the largest non-OPEC affiliated hydrocarbon producer in the Middle-East — Circle has been continuing evaluation of the potential of its two blocks this year and is awaiting the outcome of a bid for a third exploration block, as part of the country’s latest licensing round, which opened last year.

Circle’s primary assets are based in North Africa and, there, it recently commenced work on its maiden offshore drilling campaign on a licence it holds off the coast of Tunisia.

Last month, the Limerick company — whose operations are spread across Egypt, Morocco, Tunisia and Oman — said, on the back of a strong set of annual results, that it is looking to expand its presence in northern Africa in a bid to further enhance shareholder value.

Those results — which detailed record revenue and production growth for 2013 — showed a near 30% rise in annual revenues to €68.7 million and a 15% boost to operating profits.
Management said that the next two years will be an exciting period for the company, with considerable activity being undertaken across all of its licence areas.

Chairman Stephen Jenkins added that the board intends to add additional projects within its existing regions of interest, with new projects and opportunities continuously being evaluated

Nobody seems interested in this one.....but this is a vastly underestimated explorer/producer with a smallish market cap......100 million oil barrel discovery confirmed today !...(estimated discovery that is...)

"Circle Oil Plc (AIM: COP), the Middle East and Africa focused oil and gas exploration, development and production company, announced the preliminary results of drilling of the well EMD-1 in the Mahdia Permit, offshore Tunisia.

The El Mediouni-1 well (EMD-1) is located within the north central area of the Mahdia Permit in a water depth of 240 metres, 120 km east of the port of Sousse. EMD-1 was spudded on 8 June 2014 and drilled to a TD of 1,200 metres MD in the Upper Ketatna carbonates. The stratigraphy encountered in the well was exactly as prognosed and very good light oil shows were encountered both in the Lower Birsa carbonate primary target and the Upper Ketatna carbonates secondary target over a combined interval of 133 metres."

Liberum note:
"Drilling results
Results from the El Mediouni-1 well (EMD-1, Circle 100%) in the Mahdia Permit, offshore Tunisia show that it encountered very good light oil shows in both the primary and secondary target horizons. Using known reservoir and fluid parameters from equivalent formations in the Gulf of Hammamet, management estimates most likely recoverable prospective resources discovered by the EMD-1 well are c.100 mmb oil.
Appraisal required During the drilling of the well, hole conditions deteriorated rapidly and attempts to log failed. The well was suspended before an evaluation could take place. Circle has been granted a 6 month extension to the Mahdia permit to January 2015, with renewal periods, and will now move to appraise the discovery as quickly as possible.
View This could be a very significant discovery, worth more than 80p / share if management’s initial estimate of resources is confirmed. We retain our Buy recommendation and will review valuation as more detail becomes available. At present, our 45p PT reflects just our ~30p value of Morocco + Egypt plus the risked value of firm wells, largely this EMD well. There could be further material upside from other new ventures as management looks for new ventures."

Sp still rising....amazes me, the lack of interest here....

StockMarketWire.com
Circle Oil is to plug and abandon the Shisr-1 well in Block 49, onshore southern Oman.

The company said this was due to drilling difficulties, which have not been encountered to the same extent in previous wells in the area.

The well reached a measured depth of 1,650 metres. The primary target had been the Hasirah sands prognosed at a depth of 1,890 metres. No hydrocarbons were found.

Circle said the bottom hole assembly became stuck below the 9�&� inch casing shoe which had been set at 819 metres. Multiple attempts were made to remove the BHA but these proved unsuccessful. Drilling information, confirmed by the company's independent drilling adviser, suggests that the main problem zone is immediately below the casing shoe and further attempts to deepen or sidetrack this borehole are inadvisable.

The Ministry of Oil and Gas in Oman has given its approval to plug and abandon the well.

Chairman Steve Jenkins said: "This well was always deemed as high risk and the unexpected and disappointing conditions experienced in this well, designed as a slim-hole stratigraphic test, have been a challenge to our drilling team."

Morocco Sebou Permit -Exploration Well KAB-1bis
Circle Oil Plc (AIM: COP) provides the following information on the drilling of the KAB-1bis well in the Sebou Permit, onshore Morocco.

The well, located downthrown tothe north-west/south-east trending N'zala Fault in the north-western area of the Sebou 3D survey, spudded on 4 February 2015. The 2010 KAB-1 well had encountered gas shows in the target Miocene Guebbas sands, but problematic swelling clays created borehole instability and the well could not be logged or tested. KAB-1bis had the same target sands and was drilled with an adapted mud system to minimise drilling problems in a slightly more updip location. The primary target Guebbas sands were absent down to a TD of 1,410 metres MD and it was decided to plug and abandon the well. This result indicates that the gas shows encountered in the Guebbas sands in the KAB-1 well were of a very limited extent.

The rig has been released to complete and test the SAH-W1 well on the western area of the Sebou Permit. The SAH-W1 well encountered three gas bearing Guebbas sands, but could not be completed as a non-standard 4.5 inch liner was needed. It is planned to produce the three zones sequentially from the bottom up, where the highest pressure is present.

Commenting on the results of the KAB-1bis well Steve Jenkins, Chairman, said:

"Although the result of the KAB-1bis well is disappointing, the well was targeting a smaller incremental accumulation. We look forward to the results of testing of the SAH-W1 well and continuation of the drilling campaign on the Sebou and Lalla Mimouna Nord Blocks."

StockMarketWire.com
Circle Oil is 'delighted' with preliminary results of testing of the well SAH-W1 in the Sebou permit, onshore Morocco.

The well is located within the western-central area of the Sebou Permit, about 3.2 kilometres to the south-west of the main gas gathering station. The well was drilled to a TD of 1,263 metres MD in June 2014, with gas shows encountered at different levels within the target Guebbas sands.

As is normal practice, Circle will produce from the lowermost Guebbas zone followed by the Main Guebbas zone sequentially from the bottom up, where the highest pressure is present.

The lowermost Guebbas zone has 3.6 metres of net pay and the test over this interval flowed at a sustained rate of 4.94 MMscf/d on a 24/64" choke during a period of 5 hours.

The rig has been released from SAH-W1 and is being transported to the Lalla Mimouna concession to drill Circle's first well on this permit, LAM-1. This will be the fifth well of the current drilling campaign and is located in the central part of Lalla Mimouna Nord on the east-west trending Anasba Ridge, within the existing 3D seismic area.

The target of the LAM-1 well is for Miocene gas-bearing sands, similar to the Sebou discoveries made previously by Circle. The primary target sands are prognosed at a depth of 1,231 metres MD and the TD of the well at 1,521 metres MD. Further wells in Lalla Mimouna and Sebou permits will follow to complete the current programme.

Chairman Steve Jenkins said: "We are delighted with the results of the SAH-W1 well test. This was the first well of our third drilling campaign, drilled with our partner ONHYM in the Sebou permit and is coupled with our drilling programme in the Lalla Mimouna permit. We believe that this well has the potential to add significant volumes to our reserves for gas production and at rates not subject to price fluctuation due to fixed price contracts."

StockMarketWire.com
Circle Oil reports positive results from the first well on the Lalla Mimouna permit onshore Morocco.

LAM-1 targeted the Miocene gas-bearing sands, similar to the Sebou Permit to the south of Lalla Mimouna. The TD of the well at 1,541 metres MD was reached on 26 May 2015, prospective gas zones were logged, a completion string was installed and the rig relocated to drill the ANS-2 well.

The LAM-1 well was then tested using a slick-line unit following the release of the rig. The primary target was perforated at 1,261-1,272 metres and flowed gas at a stabilised rate of 1.9 MMscf/d on a 16/64" choke and the secondary target was perforated at 1,181-1,183 metres MD and flowed at a stabilised rate of 1.1 MMscf/d on a 16/64" choke.

The rig has been mobilised to drill the ANS-2 well, the second well of Circle's drilling campaign on Lalla Mimouna, located on the northern flank of the East-West trending Anasba ridge. This well has a primary target for Miocene gas-bearing sands at 1,007 metres MD and prognosed TD at 1,062 metres MD. Depending on progress rates, initial results could be available in approximately 20 days.

Chief executive Mitch Flegg said: "We are delighted that our first well on the Lalla Mimouna Nord Block has such positive results, flowing gas at significant rates from both target intervals. The productivity of this first well is very encouraging for the expansion of Circle's portfolio of Morocco gas fields."

The Lalla Mimouna permit is a partnership between Circle Oil Maroc Ltd (75%) and ONHYM (Office Nationale de Hydrocarbures et des Mines) (25%).

What's your take on these Harry?

It's one I have watched for a long time, but haven't invested in recently. I am wary of all small drillers atm. Most of them are struggling due to the low price of oil and even good drilling results don't seem to help the sp. I will maintain a watching brief for the time being.

Thanks - I'll watch you watching them for my clues! :-)

Another small driller in trouble at 0.5p

StockMarketWire.com
Circle Oil says its financial position remains under significant pressure and it expects its listing on AIM to be cancelled tomorrow (30 December).

An update says: "Further to the announcement of 30 September 2016, in which Circle Oil plc, the international oil and gas exploration, development and production company, announced that the most recent waiver in relation to the suspension of the December 2015 and June 2016 redetermination and any repayments due under its reserve based lending facility was due to expire, the Company is pleased to announce that International Finance Corporation ("IFC"), a member of the World Bank Group and other syndicate members have agreed to re-instate the waiver until 26 January 2017.

"In addition to the waiver noted above, in light of the current financial position of the Company, the IFC and other syndicate members have again agreed to defer interest payments due in July and November 2016 until 26 January 2017.

"IFC and a syndicate member have also agreed to provide additional stand-by funding to finance the Strategic Review process through to conclusion. The additional stand-by funding has been agreed pursuant to an interim funding deed between IFC, the Company and the Company's subsidiaries and shall be used for the purposes of the Strategic Review process. Any advances will be repayable by 31 January 2017.

"In the event the Company draws down on the facility any payments received from the Egyptian General Petroleum Corporation (EGPC) during the period to 31 January 2017 shall be applied to reduce the amount drawn. The effective interest rate for the standby funding is 15% per annum plus three-month LIBOR.

"The Company's financial position remains under significant pressure. As a result of the deferral of the IFC interest payment and the standby funding, the Company is in a position to discharge its financial obligations during the period of the waiver, pending resolution of the lender redemption notice received from Circle Link S.ar.L. The Company is continuing to discuss its position with Circle Link.

"The strategic review process remains ongoing. The directors continue to expect there will be no value attributed to Circle equity holders as a result of the strategic review process.

"As noted in the announcement of 30 September 2016, the company's shares were suspended from trading on the AIM market of the London Stock Exchange on 29 June 2016. In the event the suspension is not lifted, the company's listing on AIM will be cancelled after six months of suspension, as set out in the AIM Rules for Companies. The company therefore expect that its listing on AIM will be cancelled with effect from 30 December 2016."