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.

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.