Circle Oil Plc Regulatory News (COP)

9 Jul 2008 07:00



9 July 2008

 CIRCLE OIL PLC

("Circle" or the "Company")

 Appointment of Fox-Davies Capital as Joint Broker

Circle Oil plc (AIM: COP), the international oil and gas exploration and development Company, is pleased to announce that it has appointed Fox-Davies Capital as its joint broker with immediate effect.

Collins Stewart continues to act as joint broker and nominated adviser for Circle.

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)

Media enquiries: Martin Jackson

Analyst enquiries: George Cazenove

  Notes to Editors

Fox-Davies Capital

Fox-Davies Capital is a Member of the London Stock Exchange and specialises in providing Corporate Finance advisory, broking and capital raising services to international resource companies. Fox-Davies provides its corporate clients with access to investors in the UK, European and North American capital markets and has an established track record in emerging markets particularly in Africa, Asia and the Former Soviet Union.

Further information on Fox-Davies Capital is available on its website - www.fdcap.com

Circle Oil

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