Circle Oil has found a number of potential drill targets as it forges ahead at its Moroccan permits. It declared earlier the successful completion of the 2D and 3D seismic acquisition programme in the Lalla Mimouna and Sebou permits in the Rharb Basin.

"Preliminary results indicate the presence of both expected and a number of additional potential targets for drilling, subject to further interpretation, in the forthcoming drilling campaigns in the Rharb permits,' mentioned Circle Oil.

Circle Oil also said that the latest acquisition of seismic used similar techniques to those in a previous year's survey, which generated targets for subsequent programmes, which resulted in 10 successful wells.

Chief executive of Circle Oil, Professor Christopher Green, said: "The successful completion of the Lalla Mimouna and Sebou seismic survey acquisition, together with the recent completion of the construction of new infrastructure maintains our momentum in the Rharb Basin."

Circle Oil holds a 75% interest in the Sebou and Lalla Mimouna permit concessions with the remaining 25% held by Office National des Hydrocarbures et des Mines (ONHYM).

Tags: Circle Oil plc