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.

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?