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Circle Oil reveals Morocco exploration success

Published: 16:45 18 Jun 2014 AEST

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Circle Oil (LON:COP) has announced the success of an exploration well within the Sebou permit, onshore Morocco.

Three gas bearing zones, which have been confirmed as permeable high pressure reservoirs, have been encountered in the SAH-W1 well, in the central area of the Sebou permit.

The well will be prepared for testing and production. The reservoirs will be produced sequentially, from the bottom up (where there is the higher pressure).

"We are delighted to add another successful discovery to our Sebou gas portfolio,” said chief executive Professor Chris Green.

“This is the first well of a six well programme to be drilled with our partner ONHYM in the Sebou permit and is coupled with another six well programme in the Lalla Mimouna permit."

Across the three reservoir zones the net pay totals 15 metres – 6 metres in the Top Guebbas, 6 metres in the Intra Guebbas (which is the main target) and another 3 metres in the lower part of the Intra Guebbas.

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