Circle Oil gets Tunisia extension
29th Jun 2012 10:37
Circle Oil, an exploration and production company, says it has received a permit extension to its Grombalia concession in Tunisia. The company now has until December 18th to complete operations at the site. The so called BAB-1 well will have an an expected total depth of 1,350 metres. Professor C
Read moreRevenues rising at Circle Oil
7th Jun 2012 12:00
Circle Oil, the middle east and north Africa focused oil and gas company, has risen in morning trading after revealing better production numbers at its Egyptian fields. Water injection at the company's NW Gemsa block has boosted production to 10,000 barrels of oil equivalent per day, while revenue
Read moreThursday broker round-up
7th Jun 2012 09:23
Barclays: Deutsche Bank retains buy rating and 295p target. Burberry: Credit Suisse upgrades to outperform, target lifted from 1,420p to 1,650p. Centamin: Nomrua upgrades from neutral to buy, target lifted from 100p to 130p. Circle Oil: Investec cuts target from 90p to 86p, buy rating maintained.
Read moreCircle Oil ramps up production in Egypt
3rd May 2012 15:51
Drilling results from Circle Oil's Al Amir SE and Geyad fields in Egypt have had a positive impact on group production, the firm announced today. Appraisal well AASE-11X ST 1 was spudded on February 5th and, after being drilling to target depth, encountered 42ft of net pay in the Kareem Shagar sand
Read moreCircle Oil unveils strong set of results
8th Sep 2011 16:00
Circle Oil displayed a great set of results after benefitting from rising oil prices and success in every well it drilled and tested during the first half of the year. The price of oil increased 40% to $104.81 per barrel of oil and the price of gas grew 27% to $8.65 millions cubic feet. Revenue
Read moreLondon close: Strong finish to bad month
31st Aug 2011 16:39
The top share index finished the worst month since the financial crisis broke out in late 2008 with strong gains as strong economic data in the US whetted investors' appetite for battered shares. The purchasing managers' index, which measures industrial sentiment for the Chicago area, came in ahead
Read moreLondon midday: Smith & Nephew leads rally
31st Aug 2011 12:01
Shares have built on their earlier gains, though the rally is unlikely to be enough to prevent the biggest monthly fall since the beginning of the financial crisis in 2008. Among today's big gainers is bid rumour-mongers' favourite Smith & Nephew. Latest talk has it that peer Stryker could be inter
Read moreLondon open: Bwin, 888 lead the rise
31st Aug 2011 08:48
The Footsie edged higher in early trading on the back of a rally in New York last night after minutes from the last meeting of the Federal Reserve showed policymakers considered stimulus measures to kickstart the world's biggest economy. In London, online gaming firm bwin.party surged higher on the
Read moreCircle Oil pleased with Geyad result
31st Aug 2011 07:50
Circle Oil, the oil and gas company with assets in Morocco, Tunisia, Oman and Egypt, says it has successfully drilled a water injection well to support production in its Geyad Field in the Gulf of Suez Basin. The rig used to drill the well has now been mobilised to drill the water injector well Al
Read moreCircle Oil turns profitable on soaring oil and gas sales
20th Jun 2011 10:38
Oil and gas explorer Circle Oil reported its first full-year profit, bolstered by soaring oil and gas sales and slashed finance costs. For the year ended December 31, oil and gas revenue jumped 194% to $44.4m from $15.1m, a year earlier. The negative impact of surging cost of sales was offset by th
Read moreCircle revises upwards its reserve data for Gemsa and Sebou
8th Jun 2011 11:43
North Africa-focused oil and gas group Circle Oil has today released its update to estimates for its ultimate recoverable resources ("URR") at its permits in Egypt (Gemsa) and Morocco (Sebou), "which indicates a significant increase over the 2010 URR estimates for both permits." The estimates were c
Read moreCircle Oil finds gas in Morocco
24th Jan 2011 07:43
North Africa-focused oil and gas group Circle Oil has confirmed a gas discovery at the ADD-1 exploration well in the Sebou Permit, Rharb Basin, Morocco. It found gas in both the main Hoot target and the secondary Guebbas target which tested at sustained rates of 3.57 millions of standard cubic feet
Read moreSmall caps round-up: Impax Asset, Range Resources, Circle Oil...
10th Jan 2011 11:19
Environmental investment manager Impax Asset Management hit new highs Monday on news pre-tax profit more than doubled to £5.2m in the 12 months to 30 September - £1m from the redemption of a loan note helped - on revenue up 48% to £15.3m. Assets under management rise 44% to £1.82bn and has hit £2.
Read moreSmall caps round-up: Omega, Edenville, Vatukoula ...
10th Jan 2011 09:20
Omega Insurance Holdings has confirmed press speculation that it has received an unsolicited bid approach from Canopius Group. Canopius is proposing a cash plus shares offer for Omega. Last Friday Omega increased its estimate of the loss is likely to suffer from the New Zealand earthquake from $6.
Read moreCircle Oil moves into profit
14th Sep 2010 11:04
North Africa-focused oil and gas group Circle Oil moved into profit in the half year to June 30 as it brought new wells into production. It posted a pre-tax profit of $2.1m, against a loss of $15.9m the previous year, as revenues soared to $21.2m from $3.5m. Two new gas wells were brought into pr
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