Member Info for elland

I told Susan Prior that I couldnt make the AGM but a fellow shareholder, ie you Ramerci, could. She will be pleased to meet up with you for a chat after the AGM. Re the overall impression of our chat yesterday, I am still bullish in the long term and believe that the recent management shake up will prove successful. I get the impression that offshore Tunisia is the potential turning point here and SP did say that it hasnt been factored into the share price

RNS re Lam -1 due soon. Spoke to Susan Prior earlier today. Very open and admits challenging times. Website changing over the next few months to be more "shareholder friendly" CEO understands the need for better communication with all stakeholders. As we thought, the recent article in the Irish Times was incorrect as Audley Capital were already shareholders in COP. Once permit received from Tunisian Government farm in partners will be sought for exploration in the Med. Already interested parties. COP to be far more risk adverse in future compared to Prof Greens days. Morocco and Egypt still strong although OMAN was disappointing and expensive, Director purchases will happen.

Is it me or is this old news ? The Major Shareholder list in the COP Website, last updated 7 March already lists Audley Capital with a 6% shareholding ?

Two large 500.000 afternoon buys yesterday despite the lack of info from the BOD. This follows two 400.000 buys earlier in the week.

But the bid has increased to around 9

Hi Ramerci I would love to join you at the AGM but have other arrangements. I am sure that you have all our questions and queries and look forward to you reporting back. I have had a reply to my e. mail from Susan Prior, Group Executive Finance Director. She is in Morroco and will telephone me next Tuesday with some answers to our concerns. I have asked her to check on the LAM-1 progress whilst she is there.

More good news. Anticipated profit based on WTI @ ONLY $55 so anything north in the future is bonus profit. Recent WTI gains have helped. More to come on line in the 3rd quarter and farm out possibilities in Italy (Shell again ?) This share price will start to motor but still great buying opp.

" value being realised over the short to medium term from these assets has significantly improved" sounds good to me

All very positive at the moment. The RNS was out of the blue and Mr Bush quite rightly has under played this. I am now looking for share price consolidation before the next release on CANADA. This remains a solid long term buy

I spoke to a guy called John Shine. Very helpful. he gave me his e. mail add and I sent him a list of shareholder concerns. There is no PR dept and he has forwarded my e. mail to a company director.

Agreed Stockdale. I am going to phone COP today and express our concerns. In the meantime at 11 am yesterday 2 x 400,000 buys went through so someone is confident

relatively light trading and one big sell at 9.75. Most of the other trades are buys. I topped up my ISA and its recorded as sell. Still depressing and we seriously need the BOD to make some positive announcements re Morocco update, Farm out in Tunisa ( once permit sorted) and some director buys would be nice.

Lots of them today

I think that this article articulates the situation well. Lots of positives still here .http://www.oilbarrel.com/2015/06/04/circle-oil-moves-into-the-red-as-lower-oil-prices-take-their-toll/

The current projects may need to be partially farmed out and perhaps the new CEO has been chosen for his experience in this regard. Unfortunately Prof Green didnt attract partners in the past.

Thanks Ramerci. Basically we just dont know. We could certainly do with some positive news to stem the fall. I notice that you still beleive that COP will be taken over. In the short term I disagree as it seems that there is some financial housekeeping to sort out and by taking the impairmants and write downs now, they are clearing the decks for the next 12 months trading to some decent profit figures in 2016. Could the nrew CEO have had some input in this decision prior to starting work ? I am sure he has ! No my guess is that we wont be in play until next year.

No news from LAM-1 yet. Ramerci, what your take on it ?

The reference to a "strategic review of costs and funding" has definately spooked the market. Both Investec and Westhouse remain bullish long term but emphasise the need to develop the Tunisian potential. In the meantime we still await the update from Morocco. I will remain strong here and despite the falls have topped up a little too early I fear. I cant see the takeover scenario anytime soon and believe that this is now a longer term play. I have accordingly reduced my target to Buy from Strong Buy. GLA

As house Brokers Investec have now come in line with others such as Westhouse and Peel Hunt with a revised buy target price of 34p. A big reduction from Januarys target of 50p but more realistic and still 3 x the current share price.

I have topped up. The figures reflect the energy price collapse. Still plenty of good news incl more Gas reserves from Morocco and three more drills in Egypt. No immediate requirement of capital and the review to reduce costs. We now need a positive update from Morocco and some director buys to show support. This is oversold today.