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Circle Oil does not anticipate material delay for EMD-1 well

Published: 22:53 31 Jul 2014 AEST

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Circle Oil (LON:COP) has told investors that it does not anticipate material delays to the EMD-1 well, offshore Tunisia, despite the programme running into technical problems.

Drilling began in early June and the well had reached a depth of 753 metres, where it was cased and cemented before a blow-out preventer was run.

At that point mechanical problems were encountered, which had resulted in damage to a part that could not be repaired locally. New equipment has now been installed. Circle said the new BOP and risers are being re-run; drilling will resume thereafter toward the primary and secondary target horizons at 1,260 metres and 1,460 metres respectively.

Circle said it does not anticipate material delay for EMD-1 well.

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