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There have but mainly through a blog from Malcy of late last year when he suggested it would be a perfect fit as they are so close and COP has spare capacity in their pipe line to consumers.
That will hopefully result in improved inflow of outstanding payments from the Egyption government. Expect an RNS is so.
- had a meeting with the Egyptian minister this week apparently http://circleoil.net/news/company-news/item/58-meeting-with-egyptian-minister
With thecsecurity situation in Tunisia, I'm not sure Sound would be interested. Although yesterday James did say more deals in Morocco AND maybe another country. I don't know how COP's Moroccan gas assets compare to the ones Gulfsands lost just next door. Perhaps someone on here mightbenlighten me. Have their been any eumours about COP taking them on?
Sound have the leverage of Schlumberger's multi billion dollar balance sheet, so I wouldn't discount them.
COP has assets in Egypt and Tunisia as well as Morocco. The impending asset valuation via the CPR will indicate a more realistic " take out value " which would be multiples of today's share price and I think will exclude Sound Energy
if it's not sound, who else is likely here? nice to see some relief for holders after miserable recent months b/c poo.
Doubt if Sound would pay cash. James Parsons if running a tight - and debt free - ship.
It is certainly nice to see after months of gloom for COP. The current market is lacking confidence with selling on any baddish news. Nice to see COP rising with investors at last seeing a good company with good oil and gas production and good guaranteed contract rates, at least on gas.
Cheap assets ? Not too sure if Sound has enough cash reserves to buy known reserves maybe another suitor.? Or just low operational costs have dawned on the market.
just wild speculation really but sound are taking out cheap moroccan assets and are actively looking for more
The company must be doing something right. That's for sure. Closed up almost 50%. Albeit at just under 4p.
Thanks for that Lobon and it might explain the rise today although I would have thought the Gulfsands ex sites which COP should acquire, are more likely targets
JP did an interview yesterday(on web site) and stated further consolidation of other assets in morocco and have acquired 2 licenses that have been recently been drilled/discoveries. tendrara and sidi moktar aided by their impressive JV with Schlumberger
Why Sound ?
are sound energy are coming for you?
Watch out for the day traders here now and expect some profit taking but don't be tempted and hold firm for some long awaited rewards
awesome now. this could really really take off to 5p today,,,something up...
this about to really blow
The share price has been, and still is, very low. I expect there are those who think if it hasn't gone bust by now it is unlikely to do so. Followed by several encouraging broker ratings and assurance from the CEO that the court cases are inconsequential has probably allowed some to test the water again.
well something is going on with over 40 trades already today. Its unheard of with COP over the past few months. Some news must have leaked. Expect an RNS soon. In the meantime lets hope that it continues
The buy ratings have been out for a while but have been ignored because investors considered COP too much of a risk factor. The publishing of ratings is also a matter of timing and now is a good time with the oil price recovering and any internal Circle Oil problems being sorted. So these ratings being put in the forefront may well have had an effect especially as they came out yesterday and strangely today the sp rises. Let's see if the sp continues to progress ...
Dont think so Stockdale, the buy consensus has been out there a while. I think that we can expect some good news on a few fronts and that some has already leaked. I also think that the price of oil continues to affect the share performance despite our Gas contracts at nearly $10.
This may also have something to do with it: http://www.intercooleronline.com/stocks/circle-oil-plc-loncop-given-consensus-rating-of-buy-by-analysts/367840/