31 Mar 2015 10:00
31 March 2015
Circle Oil Plc
("Circle" or the "Company")
Adviser Update
Circle Oil Plc (AIM: COP), the Middle East and North Africa focused oil and gas exploration, development and production company, wishes to announce that from 1 April 2015, Investec Bank plc ("Investec") will be the Company's sole corporate broker. Investec also acts as the Company's Nominated Adviser.
For further information contact:
Circle Oil Plc (+44 20 7638 9571)
Steve Jenkins, Chairman
Investec (+44 20 7597 5970)Chris SimGeorge Price
James Rudd
Citigate Dewe Rogerson (+44 20 7638 9571)Martin JacksonShabnam Bashir
Murray Consultants (+353 1 498 0300)Joe Heron
Pat Walsh
Notes to Editors
Circle Oil Plc (AIM: COP) is an international oil & gas exploration, development and production company holding a portfolio of assets in Morocco, Tunisia, Oman, and Egypt with a combination of producing assets, low-risk, near-term production opportunities, and significant upside exploration potential. The Company listed on AIM in October 2004.
Internationally, the Company has continued to expand its portfolio over the past years and now has assets in the Rharb Basin, Morocco; the Ras Marmour Permit in southern Tunisia; the Mahdia Permit offshore Tunisia, and the Zeit Bay area of Egypt. Circle also has the largest licensed acreage of any company in Oman.
Circle's strategy is to locate and secure additional licences in prospective hydrocarbon provinces and, through targeted investment programmes, monetise the value in those assets for the benefit of shareholders. This could be achieved through farm-outs to selected partners who would then invest in and continue the development of the asset into production, or Circle may opt to use its own expertise to appraise reserves and bring assets into production. Through either route the objective would be generation of sustained cash flow for further investment.
Further information on Circle is available on its website at www.circleoil.net.