Circle Oil delivers goods news on Egyptian field
8th Aug 2013 14:17
Circle Oil had good news for investors on its recent drilling at the Al Amir SE field in Egypt. Its AASE-18 Well was spud last month and after a successful result will now be brought on line as a producer. The oil explorer also said its AASE-6X Well had been recompleted as a producer at the end
Read moreOil production up at Circle Oil's Egyptian fields
24th Jun 2013 11:00
AIM-listed international oil and gas exploration company Circle Oil has reported a 30 per cent increase in production at the Al Amir SE(AASE) and Geyad fields in Egypt. Gross oil production from the AASE and Geyad fields averaged 10,631 barrels of oil per day (bopd) through May 2013 and the group a
Read moreCircle Oil reports good reservoir sands found at Al Amir SE Field
2nd Apr 2013 11:46
Shares in AIM-listed oil and gas exploration company Circle Oil rose as the group reported an update on its Al Amir SE Field (AASE) and the Geyad field in Egypt. The group said that AASE-16 was drilled on March 1st 2013 and encountered 26 ft of water-bearing net reservoir in the Kareem Shagar sand
Read moreCircle Oil announces plans to drill 12 wells
19th Feb 2013 10:10
Circle Oil said Tuesday it was planning to drill 12 wells this year across Morocco, Egypt and Tunisia. The oil and gas explorer will fund the works from its cash balance of $20m at the end of December 2012, which was up 40% year-on-year. A working capital facility of $12.5m was secured to fund pr
Read moreTuesday broker round-up UPDATE
19th Feb 2013 07:30
Admiral Group: Investec takes target price from 570p to 582p, but still recommends selling. Advanced Medical Solutions: Investec upgrades from hold to buy with a target price of 68p. African Barrick Gold: Canaccord Genuity reduces target price from 360p to 305p keeping a hold rating. Anglo Americ
Read moreCircle Oil shares rise as production edges ahead in Eqypt
14th Feb 2013 16:44
Circle Oil's shares rose four per cent as the group moved further ahead on its Al Amir SE (AASE) and the Geyad fields in Egypt. The oil and gas company said production from the AASE and Geyad fields averaged 9,091 barrels of oil per day gross through January. Cumulative production from the NW Ge
Read moreCircle Oil appoints new general manager in Egypt
31st Dec 2012 07:36
Circle Oil announced Monday the appointment of Hassan Hataba as General Manager of the company's Egypt operations. Hataba will take over from Tarek Elbarkatawy who resigned as general manager and has accepted a role as First Undersecretary for Exploration and Agreements at Egypt's Ministry of Petro
Read moreCircle Oil abandons exploration well in Tunisia
28th Dec 2012 10:14
Circle Oil has plugged and abandoned the Bou Argoub-1 exploration well in the South West Belli area of the Grombalia permit in Tunisia following insufficient results. The well came up dry after it was drilled to a total depth of 1520 metres, which commenced in October. Oil and gas shows were encou
Read moreCircle Oil secures 12.5m dollar working capital facility
20th Dec 2012 08:16
Middle East and Africa-focused oil and gas production company Circle Oil has agreed a 12.5m dollar secured working capital facility with Ahli United Bank Egypt. Circle, which currently has cash balances of $20.50m, said the facility would be used to fund ongoing expenditures in respect of its 40%
Read moreCircle producing oil at Al Amir SE-13 well in Egypt
5th Dec 2012 07:04
International oil and gas production company Circle Oil is producing 873 barrels of oil per day at its Al Amir SE-13 well in Egypt, according to an update posted by the company on Wednesday. The well, located in the north central part of Circle's AASE field, flowed oil and gas on a test on November
Read moreThursday broker round-up
1st Nov 2012 09:19
Antofagasta: UBS ups target from 1,080p to 1,100p, sell rating kept. Avocet Mining: Numis downgrades to add, target cut from 130p to 90p; Westhouse Securities downgrades to sell, 1,434p target kept. Bank of Georgia: Seymour Pierce reiterates buy rating and 1,600p target. Barratt Developments: Gol
Read moreCircle Oil posts positive appraisal drilling results
22nd Oct 2012 12:52
Circle Oil, an international oil and gas exploration, development and production company, has said the Geyad-6 well in Egypt, which begun drilling in September, has now been placed on production at an initial flow rate of 913 barrels per day (bpd). The well encountered seven foot of net pay and fl
Read moreMonday broker round-up - UPDATE
22nd Oct 2012 08:19
888 Holdings: Morgan Stanley ups target from 125p to 130p, overweight rating kept. Aggreko: Jefferies cuts target from 2,800p to 2,535p, buy rating kept; HSBC downgrades to underweight, target cut from 2,350p to 1,750p; JPMorgan Cazenove cuts target from 2,360p to 2,165p, neutral rating kept; Barcl
Read moreExploration investments pay off for Circle Oil
4th Sep 2012 09:23
Circle Oil said it had been rewarded for increasing exploration and development with significantly improved profitability in the first half. The oil and gas firm, which is focused on the Middle East and North Africa, said pr-tax profits came in a t $13.35m, compared to $8.7m a year before. Group t
Read moreCircle Oil completes water injection well
28th Aug 2012 10:30
Circle Oil says it has successfully dug a water injection well to support production of the Al Ola 1 and 2 and AASE production wells at its Zeit Bay site in Egypt. Currently production from the asset is around 9,100 barrels of oil per day. Circle's Chief Executive, Professor Chris Green said: "Thi
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