Member Info for stockdale

Oil price has risen around 30% in the last month but COP hasn't moved up at all. About time that changed.

A few steps forward followed by a couple back but Brent now touching $37 and Crude above $34. Can only help COP recover. However their gas price is up around $10 so the prevailing market rate has little effect. Mitch needs to sort out the underlying problems pronto. This share price is truly frightening as Patrick has just noticed.

http://www.hilltopmhc.com/circle-oil-plc-loncop-receives-gbx-21-50-average-price-target-from-brokerages/ All seven brokers covering Circle Oil are positive. Unfortunately that term 'over leveraged' is spooking investors.

..... but it could be a better scenario than not being taken over. When Sound say 'over leveraged' that could imply it is just too much for them to get involved or it could be a negotiating ploy. If companies which are in a good financial position and in the right location just don't want to touch Circle Oil because they are 'over leveraged' then Circle Oil is not going to be rescued and has to hope for a higher oil price and good income from Egypt, Morocco and Tunisia, and getting paid for that income in Egypt. That could be a worse scenario, but is the current one.

Hi there. Trying to get the best price for COP? Maybe they are interested?

If that seems a little harsh on Mitch it is not intended to be. Mitch came in less than a year ago and has been working hard to sort things out. However the company may just have been saved from oblivion but the very long duration of the low share price will now be driving investors away without attracting new investors. His recent visit to Egypt to improve relations there, the improving situation in Morocco and the possible impending farm out in Tunisia may all be good but the share price has shown a recent blip upwards to a lowly 4p on 5th February followed by the now inevitable sink back the current 2.5p. The market needs to be convinced.

Mitch went to see the Egyptian authorities recently. If he got assurances at that time he should make them known to investors and the market. SB may have been a trouble maker but there are some court cases with disgruntled previous employees. If those cases are genuinely insignificant that should also be stated with evidence of their insignificance to investors and the market. The current share price is around 20% of the relatively low figure of 12p to 13p less than a year ago and little over 5% of what it has been in 2005. This needs action now.

This share price has sunk very low and stayed very low since the middle of 2015. It really is about time some confidence was put back into the market for COP. There was real concern in mid January that this would go the way of some other smaller oil companies. It hasn't happened, yet. But the very long period of such a low share price is a real concern. To the extent that some are pulling out of COP, even at substantial losses to the seller. The gas production in Morocco, oil and gas in Egypt and the situation in Tunisia should create confidence in the market. It isn't happening. Why not Mitch?

You may feel an email to Mitch Flegg coming on. :-)

Just someone losing patience. This share price has been down for many months and I think there are some who are just walking away.

Lots of words and promises but little action so far. A freeze at January production levels means a continuation of production exceeding consumption. But COP is really reliant on internal problems within Circle Oil getting sorted. No further word on the court cases which have held down this share price for months. They need to be dealt with and removed so investors can see a company in good shape which is worth investing in.

More to do with the oil price this morning. Meeting between Russian and Saudi ministers about oil production cut has pushed up the oil price.

The news lines are pushing the buy ratings. Not having much effect though. There should be some more news soon. Whether it is 'imminent' or not I am not sure. There has already been good news which has largely been ignored, except for a small spike of the share price above 4p last Friday. The oil price is up 4% and COP is so way down in value you might think the latest news in Egypt plus the 10p gas contract rate in Morocco and all the other things Mitch Flegg is dealing with would have some positive effect on the share price. Instead it is still down below 3p.

The whole market is down. Money is flooding out to who knows where? Gold? Under mattresses? COP may benefit a little as Circle Oil is getting back on it's feet with Moroccan gas and Egyptian oil and gas, with the latest find in Egypt - as long as they get paid for it. So COP is a good bet for at least a small amount of any portfolio. Good chance of a big rise with little downside risk. The oil price has already been factored in to the share price and they are getting $10 for gas regardless of the market price.

Don't be fooled by the 'buy' / 'sell' indication. They are often wrong. The share price and spread figures have fallen back so there must be some sells.

As usual a lot of the 'sells' are actually buys.

That was when the oil price was much higher. COP has been 12p to 13p at current oil price levels. Mind you that's quite an image: old nick and the tooth fairy!

Good RNS. But over a year of doldrums for COP has resulted in a lack of confidence and another sharp selloff yesterday with a 29% drop. This needs to have some confidence in the market so it can progress back to the 12p to 13p it had been. It's a long way to go and without confidence and further good news and marketing by Mitch Flegg it will take steps forward only followed by profit taking.

Good find steelwatch1 - the article as well as the oil and gas. :)

Just before the Monday open this is the first time in a long I have been interested in the direction of COP. I will probably be disappointed again .....