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Circle Oil gets extension for Mahdia licence in Tunisia

Wed, 19th Aug 2015 10:47

(ShareCast News) - Circle Oil has been given approval by the Tunisian Authority to renew the exploration permit on its Mahdia block in Tunisia.The oil and gas exploration, development and production company said the permit, in which it has a 100% working interest, is being extended three years until 19 January 2018.The permit covers an area of 3,024km squared and contains the El Mediouni structure.The company said it intends to select suitable partners with whom it can evaluate and develop El Mediouni and other prospects on the permit. Circle said it has already had initial expressions of interest from a number of oil and gas companies with the financial strength and industry experience to make them suitable joint venture partners."This farm out strategy will minimise Circle's financial commitment, reduce risk, and still allow the company to benefit from the potential of the discovery. This approach is fully consistent with circle's strategy to grow the company in a sustainable manner and deliver value to shareholders in a low oil-price environment," it said.At 1054 BST, Circle Oil shares were flat at 6.25p.
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29 Dec 2016 08:08

Circle Oil's financial waiver reinstated, repayments deferred to 29 January

(ShareCast News) - The International Finance Corporation, a member of the World Bank, and syndicate members have agreed to reinstate Circle Oil's financial waiver until 26 January 2017 as the oil and gas explorer continues to be "under significant pressure". The IFC reinstated the company's recent w

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29 Dec 2016 07:41

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16 Nov 2016 10:46

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16 Sep 2016 10:04

Circle Oil Moroccan pipeline repairs completed

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