Member Info for elland

Excellent banter over last two days on this site. Ramerci73 and Stockdale I am in agreement with both of you and to me there are pointers to a potential takeover. For example delay in CEO appointment, M&A history of key board members and dropping Liberum as joint house broker. If they soon announce a new CEO however the share price will rise anyway so its " win win " for me. In the meantime some small but solid regular 50k buys are pushing this up towards 11p. Good times ahead I AM SURE.

A great summary ramerci73. It would also explain the lack of Director purchases. Dont forget that Dragon Oil are looking to consolidate in Egypt and recently was in negotiation with one of our competitors at a £500m proposed takeover. Stockdale, the plot thins ! Excellent love your humour GLA ps movement on share price today looks encouraging

I have just spoken to Clayton Bush at Liberum Capital. It seems that the BOD of COP instigated the decision to have just one house Broker ie Investec. Mr Bush stated that as far as he was aware there will be no change to Liberums target price which is currently 42p.

I agree Stockdale. When I rang COP in Dublin I managed to speak to Susan Prior without any difficulty, Why dont you try this time and ask for Steve Jenkins ?

Well the last time they quoted a 50p value which now looks fanciful. Liberum still at 42p. I tried to contact them today but the guy responsible for COP is unavailable. More realistically Peel Hunt 30p and Westhouse 29p. I havnt noticed any drop in the major shareholders holdings. When I spoke to Investec I asked them to pass on our frustrations to the BOD and again, asked why there were no sign of director share purchases.

Yesterday I spoke to one of the three people at Investec who look after the Circle Oil account. He stated that the company share value is currently at a significant discount to the underlying assets. He explained that company is going through a "transitional period to improve governance". The new CEO decision is cruical in my opinion. I would also refer everyone to the employment history of some of the board. Two members have been involved with companies which have been taken over on their watch, eg Dana Petroleum, Kenz Corp and Nautical Petroleum.

Liberum Capital no longer joint brokers leaving Investec sole remaining broker/adviser. Consolidation ?

I agree Stockdale. I expect a spike on news of the CEO. It will be interesting to see his or her previous experience in the Oil and Gas industry. For example, previous involvement in Mergers and Aquisitions ?

Lets hope that they start to purchase shares with their own money. With Oil prices increasing because of the situation in Yemen, the current 10p valuation maybe the last opportunity to buy at these levels.

Interesting RNSs yesterday. May explain why Directors havnt bought shares themselves. Having spoke to Susan Prior last week, the CEO announcement looks to be on the way soon. Obviously I didnt get the job.

I have just written to the BOD and asked them directly why they are not buying shares at thes daft prices. Hopefully will be able to relay their answere in due course.

now now Stockdale dont be cynical. This share will soon fly. New CEO news, two more Morocco drills and rumours of take over. Stay patient

I spoke to Susan Prior on the phone last Thursday. She told me that the CEO search was now down to a very short, short list. She also said that high quality of the applicants reflected the overall state of the Oil Industry. A very helpful chat and a nice lady.

I am sure that you will. I have continued to buy on weakness but still have an average over 12p and expect a 100% increase before the end of the year. Dont forget 3 out of the 4 drills in Morocco are positive with 2 more to go. I have spoken to a member of the BOD today and CEO decision will be made before the Summer. They believe that the recent falls are just as much about the underlying collapse of Brent and Gas prices as the recent drill result RNS. The Oman drill was an obligation with little chance of success but I believe that the 4th Morocco drill was an unexpected disappointment. GLA

I agree Ramerci I have been pointing this out as a takeover target for a while and I read that Dragon maybe a possible suitor. Of course this is just speculation at this stage and we still need some more positive info from the BOD to kick start the share price. Liberum have quickly reiterated the 42p buy target this morning, although they are joint house brokers.

Possible drivers of the price remain the same. Any new Morocco updates will push the stock higher. I would also like to see the CEO situation resolved and some support by way of a BOD share purchase. I still believe this company is vunerable to a takeover. I remain long.

I am in total agreement BB. This company is also ripe for a takeover. The Morocco gas finds have been game changers for COP. The next RNS should be very encouraging. I have a 30p expectation on this share for end 2016 unless takeover specualtion starts before then.

I picked up on that aswell Mikey. The interviewer said pounds and she wasnt corrected. I believe however that the deal was in US Dollars.

We are in agreement there Mikey. Lets hope however that in this case they are close to been on the money. ANTHING NORTH OF 10p from here looks good !

The Broker rating maintained at silly money. What do they know and why keep reiterating unless there is something behind it ?