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.

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


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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;