Circle Oil Plc Regulatory News (COP)

11 Sep 2008 16:13



11 September 2008

CIRCLE OIL PLC

("Circle" or the "Company")

Annual General Meeting: All Resolutions Passed

Circle Oil Plc ( AIM: COP) the international oil and gas exploration and development company announces that at the Company's Annual General meeting held today at 12.00 noon, all the resolutions put to the meeting were passed.

For further information contact:

Circle Oil plc (+44 20 7638 9571)

David Hough, CEO 

Collins Stewart Europe Limited (+44 20 7523 8350)

Adrian Hadden

James Cassley

Fox-Davies Capital (+44 207 936 5230)

Richard Hail

Citigate Dewe Rogerson (+44 20 7638 9571)

Martin Jackson

George Cazenove

Notes to Editors

Circle Oil Plc

Circle Oil Plc (AIM: COP) is an international oil & gas exploration and development Company with an expanding portfolio of assets in Morocco, Tunisia, Oman, Egypt and Namibia with a combination of low-risk near-term production and significant exploration upside potential. The Company listed on AIM in October 2004. 

Internationally, the Company has continued to expand its portfolio over the past 2 years and now has assets in the Rharb Basin, Morocco; the Ras Mamour Permit in southern Tunisia; the Mahdia Permit offshore Tunisia; the Grombalia Permit in northern Tunisia; the Zeit Bay area of Egypt and the Owambo Basin, Namibia. Circle also has the largest licence holding of any Company in Oman. In addition to its highly prospective Block 52 offshore, the Company also has an ongoing exploration program in Block 49 onshore.

The Company's strategy is to locate and secure additional licenses 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 itself opt to use its own expertise to appraise reserves and bring assets into production, generating sustained cash flow for further investment.

Further information on Circle Oil is available on its website - www.circleoil.net