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9 Jul 2008 07:00
ο»Ώ
9Β JulyΒ 2008
Β CIRCLEΒ OILΒ PLC
("Circle" or the "Company")
ο»ΏΒ Appointment ofΒ Fox-Davies Capital asΒ Joint Broker
Circle Oil plc (AIM:Β COP), the international oil and gas exploration and developmentΒ Company, is pleased to announceΒ that it has appointedΒ Fox-DaviesΒ CapitalΒ as its joint broker with immediate effect.
Collins StewartΒ continues to act as joint brokerΒ andΒ nominated adviser forΒ Circle.
For further information contact:
Circle Oil plc (+44 20 7638 9571)
David Hough, CEO
Collins Stewart Europe LimitedΒ (+44Β 20 7523 8350)
Adrian Hadden
James Cassley
Fox-DaviesΒ CapitalΒ (+44 207 936Β 5230)
Richard Hail
Citigate Dewe RogersonΒ (+44 20 7638 9571)
Media enquiries:Β Martin Jackson
Analyst enquiries:Β George Cazenove
Β Β 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 theΒ UK, European and North American capital markets and has an established track record in emerging markets particularly inΒ Africa,Β AsiaΒ andΒ the Former Soviet Union.
Further information on Fox-Davies CapitalΒ is availableΒ on itsΒ websiteΒ -Β www.fdcap.com
Circle Oil
Circle Oil Plc (AIM:Β COP) is an international oil & gas exploration and developmentΒ CompanyΒ with anΒ expandingΒ portfolio of assets inΒ Morocco,Β Tunisia,Β Oman,Β EgyptΒ andΒ NamibiaΒ with a combination of low-risk near-term production and significant exploration upside potential. TheΒ CompanyΒ listed onΒ AIMΒ in October 2004.Β
Internationally, theΒ CompanyΒ hasΒ continued to expand itsΒ portfolioΒ over the past 2 yearsΒ and now has assetsΒ inΒ the Rharb Basin, Morocco;Β the Ras Mamour Permit in southern Tunisia;Β the Mahdia Permit offshore Tunisia; theΒ Grombalia Permit in northern Tunisia;Β the Zeit Bay area of EgyptΒ andΒ the Owambo Basin,Β Namibia. CircleΒ alsoΒ has the largest licence holding of anyΒ CompanyΒ inΒ Oman.Β In addition toΒ its highly prospectiveΒ Block 52Β offshore, the CompanyΒ also has an ongoing exploration program in Block 49Β onshore.
The Company's strategy is to locate and secureΒ additionalΒ licensesΒ inΒ prospectiveΒ 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, generatingΒ sustainedΒ cash flow for further investment.
Further information on Circle Oil is available on its websiteΒ -Β www.circleoil.net
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