Circle Oil Plc is pleased to announce the following update regarding its operations.
The Company recently announced the award of the Grombalia permit, following a competitive bid process. As stated in the announcement, Circle will be the operator and hold a 100% working interest in the new licence and has the right to apply for conversion to production licence areas in the event of exploration success.
The permit covers an area that includes existing oil and gas field concessions and Circle has identified multiple prospects and many leads having similar geological features to known accumulations.
The farm-in in to the Beni Khalled and increased interest in the offshore Mahdia Permit announced earlier this year, have now been ratified by the Tunisian authorities. The Ras Marmour commitment well is still awaiting its final permit to drill.