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.

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.