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.

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?