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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.

I seems to be in the hands of the lenders if Egypt pays up who knows they might throw them a lifeline.

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.

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 .

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.

http://enterprise.press/stories/2016/07/24/five-iocs-considering-buying-circle-oils-egypt-operations-concerns-over-future-repayment-raised/ Five IOCs including BP, Kuwait Energy, and Rockhopper are vying to acquire Circle Oil�s investment in Egypt, Al Mal reported. Circle Oil is looking to sell its 40% stake of Petro Amir�s concession in the Gulf of Suez. A source told Al Mal Circle Oil is owed USD 10-12 mn from EGPC, which it recently called �unpredictable,� and is refusing to be paid in EGP.

Mitch have a look at SDX energy site for how to write an RNS. They have only 10% of AASE24 and they are excited about the prospect.

I agree, payments due from Egypt and Morocco and had cash in the bank. What have they been doing with the money. Why they cannot reorganised the debt is a mystery considering they should be making a profit.

Looks like Peel Hunt had its information correct. The management looks like its about to do a poor deal and based on the RNS the shareholders seem to be the last thing on their minds. Assets / Cash of nearly $300m reduced to $77m in 6mth. Price of oil recovering and new oil wells online. Something looks amiss with the management approach. Let hope they have a re think.

Peel Hunt sell at 0.7p seems OTT IMO. The RNS seems to indicate some payment has been received and more to come. I noticed DanaGas that operates in Egypt 1Q 2016 had 86% of revenue paid ... so payments are being made. More positive news due.

Impairment charges looks like the next blip in the share price. Noting Circle past performance on delivery of information impairment of unknown 2P reserves will be significant on profit / assets and disclosed before any action taken on the strategic review is given. A good low cost entry point possibly unless positive statements are forthcoming from the board or an offer made.

Well ignoring the AASE-23 4000 BOED gusher. :) Known + P50 reserves are up. I think a buyer would would be focused on these not what they might get out. MM playing

Just looking at SDX Energy take on the two wells (10% ownership I believe) "Al Amir SE-23 Well: Al Amir SE-23 (AASE-23) was drilled to a depth of 9,900 feet where both the Shagar and Rahmi oil reservoirs were encountered. Log analysis indicates 23 feet of net Shagar oil pay and 28 feet of net Rahmi oil pay. The well has been completed as an oil producer in the Shagar and has flowed on test light 42.2⁰ API oil at a rate of 3,860 BOPD with 2.55 MMSCFD of associated gas." And from 27/04/16 update "In North West Gemsa, completed seven successful work-over wells and spudded Al Amir SE-23 development well, which was completed and tested at 4,080 BOE/D in February 2016; " Al Amir SE-23 brought onto production and Al Amir SE-24 development well spud in February 2016, with results expected in late April/early May 2016; The 800 BOED stated by Circle in Feb 6 seem a little under stated ?

No IMO But.... Hence the petition

It would be better if all buy and sells were correctly declared as Stockdale outlines ( I have signed the petition) but whether this would impact how the price is manipulated is debatable. If you saw a falling share price (manipulated) in a buy market would you be any the wiser.

A bit more blue on the trades now. Egypt interesting news : http://www.egyptoil-gas.com/news/cairo-riyadh-expected-to-sign-21-5b-soft-loan-deals/ GLA

The oil price rise can only be positive for this share especially if a sale is on the cards. The large sell on the 15th was in the main matched by the buys. I think news of a deal is the thing that will ignite interest.... hopefully soon.

Concerns over share issue dilution and Egyptian oil payments. But overall the sell volumes are relatively low.