Circle Oil Plc provides the following update regarding the Al Amir SE Field (AASE) and the Geyad Field in Egypt.

AASE-17 Well

AASE-17 was spud on 17 April 2013 and is located in the central western part of the AASE field, 200 metres south-west of the AASE-14ST Rahmi sand producer. The well's objective was to appraise both the Shagar and Rahmi sands, and for Shagar sand production at that location. This well was sidetracked for geological reasons on 16 May 2013 and was successfully drilled to a total depth of 9,905 feet MD into the Upper Rudeis. It encountered 12 feet of net reservoir in the Kareem Shagar sand (gross interval 9,561 to 9,579 feet MD) and an additional 16 feet of net reservoir in the underlying Rahmi sand. The Shagar sand interval has been perforated and the well flowed oil and gas on test on 17 June 2013 at an average rate of 3,665 bopd and 1.4 MMscf/d respectively, on a 48/64" choke. The well is now producing following completion of testing at an initial rate of 1,134 bopd and 1.31 MMscf/d on a 24/64" choke.

The initial total daily production rate from the AASE and Geyad fields following connection of the AASE-17 well is now standing at 11,038 bopd and 11.6 MMscf/d (2,118 boepd).

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