The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Experience right at https://fivenightsatfreddys2.co .
Every day I play to it, but I never get goosebumps. Officially a big fan of https://drift-hunters.online .
The more I play to drift hunters, the more I fall in love with it, what a great combination.
There is no better way to save money when you need to write an essay, this is to use the https://bidforwriting.com/ essay writers’ services, because if you have no experience, it can take you several days or even weeks to write an essay, it is better to go to work, work a little and buy an essay, so you can save a lot of time
Upgrading the level of customer satisfaction is the goal of this service. The https://cvwritingservicesuk.com/cvcentre-review invests much time in understanding the requirement to provide the best results. The experts on the site enable a newbie to choose the best writer. By discussing the project earlier
This writing service has no reports of plagiarism and inauthenticity in records. The positive reviews from the https://ukbestessays.org/treatassignmenthelp-review ensure that the service does not compromise the quality of an essay and flawlessness, even if it is quick delivery. There have been no reports of late deliveries in case of an urgent order or in a larger timeline
Upgrading the level of customer satisfaction is the goal of this service. The https://essaysservicesreviews.com/essayusa-review invests much time in understanding the requirement to provide the best results. The experts on the site enable a newbie to choose the best writer. By discussing the project earlier
The customer experience concerning this service is full of positive reviews that assure sterling market reputation and popularity, The essaysservicesreviews.com features a series of testimonials from happy clients who have met their goals through this writing service
anyone anyone? https://www.youtube.com/watch?v=uhiCFdWeQfA
Does anyone have the latest letter from liquidators as to status for tax write off etc?
So that's the nipper's inheritance gone to the black hole then.
should have learned my lesson with oil just glad I had only small holding here not like I did in afren ahhh
7am RNS (extract). Further to the announcement of 30 September 2016, in which Circle Oil plc (AIM:COP), the international oil and gas exploration, development and production company, announced that the most recent waiver in relation to the suspension of the December 2015 and June 2016 redetermination and any repayments due under its Reserve Based Lending facility was due to expire, the Company is pleased to announce that International Finance Corporation ("IFC"), a member of the World Bank Group and other syndicate members have agreed to re-instate the waiver until 26 January 2017. The Strategic Review process remains ongoing. The Directors continue to expect there will be no value attributed to Circle equity holders as a result of the Strategic Review process. As noted in the announcement of 30 September 2016, the Company's shares were suspended from trading on the AIM market of the London Stock Exchange ("AIM") on 29 June 2016. In the event the suspension is not lifted, the Company's listing on AIM will be cancelled after six months of suspension, as set out in the AIM Rules for Companies. The Company therefore expect that its listing on AIM will be cancelled with effect from 30 December 2016.
http://www.egyptoil-gas.com/news/egypt-paid-100m-to-oil-firms/ "Circle Oil received 30% of its total receivables with a payment of $12m to 15m" If "True" circle still owed $30m. Perhaps Circle could have some good Xmas news.
https://www.bloomberg.com/news/articles/2016-12-10/non-opec-joins-opec-in-first-global-oil-output-cuts-in-15-years Can only add pressure to allow more repayment time.
JoeCreed - no worries, happy to share. Who knows what may happen, we may be lucky and get some kind of positive outcome. Fingers crossed.
Thanks for sharing. Personally, I'm hoping that Sound Energy get involved somehow in the Moroccan assets, which might throw a bit of a life line. But I agree, Circle does seem to be doomed.
I seems to be in the hands of the lenders if Egypt pays up who knows they might throw them a lifeline.
Sorox - dead in the water then it seems. Shame as I had a nice little holding and was expecting a modest return.
So no change from the RNS 6 Months ago 20/05/16. Unlike the write down of assets (which are relatively unchanged depending who you believe) June 2015 $293m to June 2016 $26m Quite a feat ! and no indication of how much EGPC owes because that's written down as well along with a supposed 100mbbl+ old field in Tunisia. 3500-4000 bbls a day production at a 'low operating cost' of $6 / bbls ( whatever operating costs include unrelated to profit margin it seems) Its seems the IMF are willing to lend Egypt $12b over 3 years whilst its other arm the IFC seek oil non payments from Egypt. Now the Egyptian pound has been devalued the lenders should be be looking to support Circle Oil as payments should in theory should be getting better over the next year and the oil price seems to be stabilising, if they are to recover their money.
Email response I had from Mitch Flegg a week ago when I emailed via website to request an update: The company has a huge amount of debt that was borrowed from banks and institutions in 2013 & 2014. When we sell the assets, this debt will be paid back first and in theory anything left over would be distributed to shareholders. Unfortunately I do not think the sale of assets will raise enough money to cover the level of debt and so there is unlikely to be anything left over for shareholders. Regards Mitch
Eight months into the 'Strategic Review' and nearly Five months of share suspension Circle oil BOD have after extensive talks decided to provide a detailed financial update to their shareholders. I will have to summarise - "Still Talking" Its a wonder that the institutional shareholders stand for this nonsense .
ANy update on this one?
Egypt Devalued The EGP "Egypt has devalued its currency by 48%, a measures that met a key demand by the International Monetary Fund (IMF) in order to secure a $12bn loan." http://www.egyptoil-gas.com/news/egypt-devalued-the-egp/ Getting paid in EGP might be a bit more acceptable subject to steady $ exchange rate.
Seems strange that they would default on the one part of the $77.5m loan ie $20m that they had the right to extend to July 2019 especially with cash in the bank to pay interest. The price of oil now around $50, I think we have a BOD's which do not have the capability to manage the Egypt payment issue, contract or loan approach.