Circle Oil discovers gas at CGD-12 well in Morocco

Circle Oil has discovered gas at the CGD-12 exploration well in the Sebou Permit, onshore Morocco.

The well, which is situated within the western central area of the Sebou Permit, was drilled to a total depth of 1,232m.

It encountered 9.7m of total net gas pay in a number of levels within the Hoot and Guebbas sands.

The Main Hoot reservoir flowed gas at a rate of 4.62mln cubic feet per day, while the Intra Hoot flowed at 2.21mln cubic feet per day.

Circle Oil said the well will now be completed for future production.

Circle Oil CEO Chris Green said: "We are very pleased to have another successful discovery in our Sebou permit and have proven additional reserves for potential gas production. This is the second 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."

The company will now move on to drill the KSR-12 well, which will be third in the Sebou programme.

Circle Oil owns a portfolio of assets in Morocco, Tunisia, Oman, and Egypt with a combination of low-risk, near-term production, and significant upside exploration potential.

The company currently has assets in the Rharb Basin in Morocco, the Ras Marmour permit in southern Tunisia, the Mahdia permit offshore Tunisia and the Zeit Bay area of Egypt.