Member Info for Robbie68

Thanks for info. If we do get the Isobel 2 spud RNS in the next 1-2 days, any chance of a result for Christmas (32 days)? If I'm correct the Isobel1 took 50 days, but I can't remember if Issy or Zeb had the BOP issues.

Hi eegbvi, Always enjoy reading your informative posts. As a non-oilie can you explain 2 issues I still don't understand. 1. Humpback - After the vast time and expense on this well, why didn't Noble go back and perform another sidetrack at the APX level to understand more and get samples for analysis? 2. Why with the expense involved can't exploration wells be planned so that if successful they can then be utilised during the production phase? - surely this would save time and expense. Even if the well is only used for gas or water injection.

email back from Malcy: No news, not expecting a takeover, Morocco mostly sorted, any news he will publish.

This am, I had a very positive conversation with contact on the latest RNS: Omani based Private investment group who buy 3%-5% stakes in low cap AIM stocks. Circle Oil chosen from O&G sector after considering a number of Companies, based on fundamentals. All info from public domain, no direct contact with Circle and no plan to go above 5%, no other agenda.

I also called the number today, but it just rang out - no switchboard / answerphone.

Also confused and disappointed with today's further drift. When I search for Aberdeen Holdings Ltd and the name at the bottom of the RNS, I find quite a number of Company Holding RNSs for AHL with the same name and phone number. The companies are all UK AIM listed companies going back a number of years (Cambria Automobiles PLC (RNS 14.05.15), Safestay PLC, Easy Hotel, Waterline Group PLC ...). I cannot find any further info who AHL are, or where theyare based. Anyone else have any further info?

Hi elland, I don’t buy it! Stockbuyer has posted around 90 times since 7th August with 2 consistent themes – Constant negative posts towards Circle Chairman/BOD and repeated referral to “17 court cases in Morocco” which has now grown to 40 I note!! He started the takeover rumour on Sat am after a ticking off from yourself about constant negative posting. All the info he has used could have been taken from the RNS last week. Looking back, he hasn’t supplied any real info, but allowed others to progress the rumour. His posts are not those of a shareholder desperate for the share price to recover, but rather the opposite. He does seem to have knowledge of the Circle Morocco business and I suspect he is someone who somehow has been adversely affected by the contract changes there. He is using this BB as a way to get back at Circle Oil.

I did raise the issue of Morocco court cases back in August when it was first mentioned on this BB. I received the following from Circle: "Earlier this year, Circle Oil took steps to install a new Country Manager in Morocco. The new Country Manager’s remit, amongst other things, included a focus on business continuity, decreasing costs and improving overall operational and drilling efficiency. As part of our focus on decreasing costs Circle Oil Maroc has been reviewing a number of local contracts and where it deemed appropriate, it has been terminating existing supplier relationships and establishing new, more cost effective relationships. In some cases, the former suppliers have disputed the grounds of termination and have resorted to legal proceedings locally in Morocco. I’m not able to give full details but Circle Oil is confident that it has terminated the contracts appropriately and is vigorously contesting any claims made." If I recall correctly, Mitch referred to what a good job the new Morocco Country Manager was doing during his TipTV interview, so I would be very surprised if Circle are changing again, unless part of the new contract negotiations with ONHYM?

Hi Elland, where did you get this info from? PDO seem to be purely Omani based and Circle have just left Oman.

Rubbish indeed. Who would buy a 3% stake BEFORE doing their homework...?

Stockbuyer, You started the takeover rumour yesterday am with: "Possible offer 15% over the current share price . BOD not happy !!!!! Followed yesterday pm with: "10.7 p is fair price . I may be wrong , a 50% over and above the current share price is a good start for take over. I am sorry this is my opinion and based on facts" And today: "Elland I do represent the group who helped oil Libya to purchase 100 million shares . My discussion with them they confirm very soon EU will lift sanction . For sure price have to be 15 p and up before they consider to sale their shares. I'm with Delano47 here - not convinced about your takeover rumours unless you can provide more info. Here's hoping for some good news next week anyway. GLA

Stockbuyer, your posts get more and more confusing for me! Do you also have any interests in Gulfsands Petrolium?

If my understanding of Circle’s biggest shareholders is correct, it does raise some concerns for me. According to the website, Libya Oil Holdings have 17.7% and Kaupthing Bank have 9.3%. What is the situation with LOH, as it says on the Circle website that “This shareholding was frozen on 11 March 2011 in accordance with EU regulations relating to events in Libya.” Do they still have any voting right? Also, Kaupthing Bank is currently in winding up proceedings, where the committee “is responsible for maximizing the value of the assets”. What does this mean? Would they accept a lower offer?

I don't know what a reasonable valuation is at present, but I'd take 13p and move on - seems a long way off at present.

The only recent broker forecast I can find is from Investec, 26th Oct. Target 23p, with a Buy rating. Only problem is that they're the Nominated advisor and Broker for Circle, so I guess will always be optimistic. Still hoping for other good news next week though.

Stockbuyer, Mitch won't be happy with anything less than 10.7p !!!!!

I presume it is this company..? (based in Colombo, Sri Lanka). http://www.aberdeenholding.com/ The Aberdeen Group’s businesses spans the globe – from Airlines and Health Breads to Corrugated Cartons, Commodity Trading and Real Estate Services. We are proud of being a private, family owned group of business with a strong code of ethics that revolve around integrity, transparency and personal service. Our group board members include the founding brothers Sattar, Farook and Shafik Kassim, their children and senior industry figures who have a wealth of knowledge in their relevant fields of expertise.

There is good news coming out and a positive TV interview, but the share price is still drifting. Problem is numbers are missing at present. If Circle is 'adding to the cash pile' as stated, a Q3/15 trading statement would help to build the confidence. Even if not stand alone, this could be done with next RNS.

Are there many short positions open against COP? Does any one know where to find up to date info on this?

Hi elland, An RNS next week stating a new partnership agreement between the ONHYM and Circle Oil INCLUDING the Rharb permits would be great news. I would expect a share price reaction if that was announced.