Circle Oil announces the following update regarding the Al Amir SE Field (AASE) and the Geyad field

AASE-16 Well

AASE-16 was spud on 1 March 2013 and is located on the central western flank of the AASE field, downdip of the AASE-10X Rahmi sand water injector. The well's objective was to appraise both the Shagar and Rahmi sands for injection in that location. The well was successfully drilled to a total depth of 11,100 ft MD into the Upper Rudeis Formation. The well encountered 26 ft of water bearing net reservoir in the Kareem Shagar sand (gross interval 10,807 to 10,834.5 ft MD) and in addition, encountered 31 ft in the underlying Rahmi sand in poor quality reservoir facies. The Shagar zone will be perforated and testing is planned to be conducted shortly. The results will be announced in due course.

AASE-17 Well

Following the successful completion of the AASE-16 well, it is planned to mobilise the rig to drill the infill Shagar producer well AASE-17, located centrally in the AASE field adjacent to the Rahmi producer AASE-14ST, which encountered 16 ft of net oil-bearing pay in the Shagar sands.

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