Last Update 15:26
Saturday, 21 September 2019

Circle Oil finds gas in Morocco well

The explorer, which has assets in Egypt, says the well is the second discovery in three months. The discovery has sent its shares up 3.6%

Reuters, Tuesday 4 Jan 2011
Share/Bookmark
Views: 749
Share/Bookmark
Views: 749

Oil and gas explorer Circle Oil said it made a second gas discovery in three months at its key Sebou Permit in Morocco, sending its shares up 3.6 percent.

In October, Circle Oil said it found gas in well CGD-11 in the same field.

The company, which started drilling in the Sebou Permit in September, said it found gas in the deeper regions of the KSR-10 well.

The explorer, who has assets in Morocco, Namibia, Oman, Egypt and Tunisia, also said it would now start drilling the fourth well of the planned five-well drilling programme at the field.

Circle Oil shares, which have gained about 17 per cent over the last 12 months, were up 3.6 percent at 0817 GMT on Tuesday on the London Stock Exchange.

Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
Latest

© 2010 Ahram Online.