Look at the current price of Circle oil. It’s at a ridiculous low level bearing in mind all that the company have going for them. Recent price targets were over 70p with brokerages.
Circle Oil is an international oil & gas exploration, development and production Company with an expanding portfolio of assets in Morocco, Tunisia, Oman and Egypt with a combination of low-risk near-term production and significant exploration upside potential. The Company listed on AIM in October 2004. And have been promising and delivering decent results since day one. They are one of the unloved stocks and for some reason have never truly sparked in to life however this perpetual cycle of going round in “circles” should it carry on should see Circle oil rise back to over 30p!.
“Circle has continued to expand its portfolio over the past 2 years and now has assets in the Rharb Basin, Morocco; the Ras Marmour Permit in southern Tunisia; the Mahdia Permit offshore Tunisia; the Grombalia Permit in northern Tunisia and the Zeit Bay area of Egypt. Circle also has the largest licence holding of any company in Oman. In addition to its prospective Block 52 offshore, Circle also has an ongoing exploration program in Block 49 onshore. The strategy is to locate and secure additional licenses in prospective hydrocarbon provinces and through targeted investment programmes, monetise the value in those assets for the benefit of shareholders. This could be achieved through farm-outs to selected partners who would then invest in and continue the development of the asset into production, or Circle may itself opt to use its own expertise to appraise reserves and bring assets into production, generating sustained cash flow for further investment.”
Get researching them as they are at bottom book prices and will certainly benefit from the soon to come economic up-turn.