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DNO is Domino Printing Sciences. I think you meant DGO - Dragon Oil? Otherwise good assumptions. M & A seems likely at some indeterminate point in time.

Brent Oil is just touching $68. It may also be the suspicion that something may be brewing. As has been said already all the indications are that a takeover is brewing. If not then the lack of information from management and now from Investec, the only official analyst, would virtually amount to negligence considering the parlous state of this share price. Less than 14p is still low and it has been down at 9p without comment from management.

This is an under the radar share. Not particularly well known. That is not helped by the lack of management information. When anyone gets to know the share they can be put off by a small company operating in difficult locations. And then there is the 1% transfer fee on buying, normally 0.5% with UK shares or 0% with certain shares like PFC, and then the fairly wide buy / sell spread. So you need fairly substantial movement of the share price to make a reasonable profit. It may be a steal or it may just be a stagnating share for all of the above reasons.

Wow! A comment from the management! Share price at 13p. Maybe it will move up? No evidence of that yet. Oh well it is only 08:15. But then other shares bounce up suddenly on good news, usually pre market open.

MRW is paying an excellent dividend but that is not free money. The share price will fall by that 9.62p. What matters is what happens thereafter. Does it recover back up? Or does it fall further? Don't be surprised to see a subsequent share price of 178p or less. And if the hedge funds get hold of it, as they did with Sainsbury last year, this could dive. It could well see the lows of 150p again. Buy in then and you will see some gain. Buy in now and who knows?

Looking at the financials for Morrison this share price could fall ex-dividend. Lots of minuses in the profit column for this, and last, year. It may only be held up currently because of the 5% dividend. It is off it's highs but the forecasts are not good.

Steady slow rise over the last few days. Further steady rise with the higher oil price should get it back to 13p in the near term. Any big jump to a price more in keeping with the true value of the company, according to analysts, will not happen without an m & a and / or a major find. The complete lack of any information from the company does not help and is keeping the share price back. If the lack of information is not due to m & a proceedings in process then there has been a complete lack of good management from the directors.

If he bought at 9p then it does make sense. It is a very low price though.

Bye bye.

So two opposing views. Which to go with? It's hardly any wonder that many are selling this stock when caution would dictate a cautious approach when there is no information to go on.

I am concerned you may be correct. We all don't know what is going on here. Unfortunately those who agree with you are selling and keeping this stock down. Optimists are looking at a possible M & A as a reason for the lack of activity from the directors, whether it is director buying or executive decision making. But it could be they are just bad management.

I am genuinely surprised that a merger can take so long. You might think the window for conditions for a merger would be a shorter time period as the financial climate and other factors would only be in place for a period of time lasting weeks rather than months or years. For example the last director share deals were last September and it was after then that the oil price fell considerably - changing the financial climate for any m & a in the world of oil business. In fact that may be why there has been such a delay in any m & a involving Circle Oil.

No I meant BG Group: http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/11521123/Shell-in-talks-to-buy-BG-Group.html That's BG not BP. Although I understand there has been some talk of Shell and BP getting together. It is only talk. Shell and BG (that is BG) is actually happening.

Try again. So what about Shell and BG Group?

What about Shell and BG Group? That seemed to be quite quick.

So with the oil price now rising to a more reasonable level, the COP share price at an extreme low and all the other ducks in a row for an M & A why is there still silence from the company on this? When would be a better time? Maybe (careful!) no one wants to take on Circle Oil? It's not as if we have been waiting a couple of weeks only. The indications were there from mid September 2014 when we had the last director deals. Seven months to arrange an M & A?

There has been no news on Circle Oil for some time now. That may indicate difficulties in any M & A. If any deal falls through the they may be left in a worse position than if they had just concentrated on making the drills and wells they have work for them. Certainly no director deals since September has been bad for the share price and delaying a new CEO has not been good either. The company appears to have good gas reserves, a reasonable income and good loan provisions. But if there is no M & A that is all compromised by the apparent lack of action on the CEO, director share deals and the lack of general news of progress.

No, please carry on. This thread has long periods of tumble weed. It's nice to see a bit of activity. I just wish I could say the same for Circle Oil.

Not sure whether to be offended for 'ignoring the obvious' or appreciative of the lengthy and useful explanation. I feel I should take the latter view. My initial point was more of a query. That's why there was a question mark at the end.

So, a big merger and acquisition of BG by Shell. This is a very big deal and would have taken a lot of sorting out. Circle Oil would be a lot easier. So if this is such a good target why no takeover yet?