Member Info for stockdale

The plot thins.

Not sure these broker target prices are worth taking much notice of frankly. Haven't seen many on any share price that has been accurate over any period of time. If 42p is what they feel the company is actually worth then it depends on what they base that on. Often it is just an opinion based on wishful thinking and sometimes biased opinion. I can't put a lot hope in a broker target.

You got the stock reply from the CFO and I wouldn't expect anything more from anyone else there. It's a bit late now anyway as they will be away on the golf course until Tuesday now. The company needs actions and not just platitudes. A new CEO, some good results from the drills and some official words of confidence from the management to allow the share price to match the value of the underlying assets and the actual financial position of the company. If Investec can tell you the share price is too low for the value of the company there is no reason that can't be stated officially at the very least.

Just gone below 9p. Longwait's prediction may yet come true. This company needs to get some news out on the new CEO or some other good news before this share price sinks further. If the underlying assets value the company somewhat higher then the company needs to act soon. Staying silent is not a good option.

Share price currently at 9p. It would be interesting to know from Investec what they consider is the fair value of the share price with respect to the underlying assets. The share price is just going down now with investors losing interest. The new CEO would have to have assurances as to their position in the event of a takeover. It wouldn't be good to start a new job to suddenly find yourself out of the job when the new company takes over.

Not much of an RNS though is it? Considering we are waiting for announcements on a new CEO, at least two more drills and the results of the last gas find. It's gone very quiet on anything substantial for a considerable period of time.

So far all of the trades today are showing as 'buys'. There have been a number of previous cases of a wrong allocation of buy or sell but that is encouraging considering recent activity.

I see from the RNS the current CEO remains available in place until the end of October. That allows time for the selection of the new CEO but also allows the share price to languish for a couple of more months as there is no urgency to get a new CEO in place. There will need to be some overlap for a new CEO to get up to speed but that still allows a couple of more months for the selection process. All I can say is that the new CEO had better be a good one, especially with the 'high quality' of the applicants.

And there is the new CEO as well. Apparently the pool of possible applicants is of such a high quality (according to the CFO - see elland Mon 23 March 09:46). The new CEO being appointed should result in a significant boost to the share price.

Furthermore after the gas find in Morocco last December the share price jumped over 25% despite the falling oil price at the time. So any imminent good news from Circle Oil should have a similar effect, despite the current low oil and gas price. As has been said already we are still waiting on the actual figures for that gas find and the result of at least two further drills are yet to be announced.

Oil price at $30? Not impossible but unlikely considering the recent oil price movements. COP at 5p? Not impossible but unlikely considering the fall in the COP share price so far and the future prospects. These calculations always have an element of risk but they need to have an element of realism based on the facts. COP as a company has good prospects and a good loan arrangement. You can't say that about many other oil companies.

There is still substantial selling at below 10p a share. I do find that extraordinary. And no reaction from the company directors is even more extraordinary. Of course there may be reaction coming shortly but the share price has been languishing for some weeks now and the CEO situation has been unresolved for some months. No director share dealings since last September, except incentive awards. And it's certainly taking a long time for any incentives to take effect!

At the current very low price it doesn't make sense for directors not to buy shares with their own money. There would have to be some other reason or reasons.

There was official news yesterday on the RNS that the CEO was resigning and about shares being given out to directors and employees. Depends on who the new CEO will be as to whether that helps the share price. The shares are given out under a 'long term incentive plan' so it depends whether that incentive works or not. So far it hasn't been too successful as the share price is now at 10p

Moi? Cynical? It has been going on for a long time though with no news on progress. I appreciate they can't talk about takeovers but 6 months and still no end in sight?

How nice. After more than 6 months they have a short list. And the share price is 10p.

Joke I presume ramerci? Christopher Green sold 2.12 million shares on 12 September 2014, over 6 months ago. I'm not sure of his current position with the company but I do know they are looking for a new CEO and he was the CEO at that time, so that would explain the sale if he was moving on. Their website still has him as the current CEO though. This company seems to be in a state of flux with a possible change of CEO and a possible takeover. The sooner this is all resolved to the advantage of COP the better. It has been unresolved for a long time.

Sorry the title should have been Ramerci.

Good post (at 13:29). There appear to be all the indicators in place for a takeover. I can see two possible difficulties for any company looking at Circle: 1) Two recent dry wells and what are the chances of more dry wells. Would a prospective takeover company have access to geology, etc. to assess this for themselves? And 2) The very low oil and gas prices making any prospective company look very carefully at risks and future oil and gas price prospects. Either way Circle looks like it can survive until 2017 on current oil and gas income and current loan arrangements. It just depends whether current investors in the share can survive up to that long with such an historically low share price.

You can read it on the RNS but this is all he had to say: "Although the result of the KAB-1bis well is disappointing, the well was targeting a smaller incremental accumulation. We look forward to the results of testing of the SAH-W1 well and continuation of the drilling campaign on the Sebou and Lalla Mimouna Nord Blocks." Too right mate. Maybe a little more confidence in the expected results wouldn't go amiss?