Circle Oil Plc Regulatory News (COP)

17 Jan 2008 07:00

Circle Oil PLC17 January 2008 CIRCLE OIL PLC ("Circle" or the "Company") Appointment of VP Geophysics and VP Geology Circle Oil plc (AIM: COP), the international oil and gas exploration anddevelopment company, is pleased to announce the appointments of Mr. AdrianBurrows and Dr. Stuart Harker as Vice Presidents of Geophysics and Geologyrespectively. Adrian is a geophysicist with 27 years experience with major operators(including 8 years as Chief Geophysicist in international offices in Madagascar,Netherlands and Argentina), and subsequently 7 years as a consultantestablishing and managing branch offices in Aberdeen. He has an extremely broadexperience covering operations, processing, interpretation, and projectmanagement. He has worked on both exploration and production projects and hasbeen responsible for data management and software development. He has also ledteams to successful outcomes in operating companies and consultancies indiscovering and developing oil and gas reserves. Stuart is a petroleum geologist with cross disciplinary abilities and 31 yearsexperience in exploration, development, well site operations and projectmanagement with major oil companies (28 years as Chief Geologist Mid-Far Eastfor Occidental and UK Licences Manager for Total) and with consultingorganisations. He has a record as an oil finder in many different geologicalenvironments and cultural settings. Stuart has published extensively on NorthSea exploration and field development and is an Honorary Lecturer in PetroleumGeology at Aberdeen University, and a Total Innovation Award Prize-Winner in2003. Adrian and Stuart will be responsible for managing evaluations and operationsfor Circle Oil worldwide and they will report directly to Circle's TechnicalDirector, Prof. Chris Green. Commenting on the appointments Prof. Chris Green, Technical Director Circle Oil,said: ''We are delighted to welcome Adrian and Stuart to Circle in these senior andimportant management positions, to be based in our UK Wokingham office. Ourteam in Wokingham, and our various Country Offices, is now staffed by veryexperienced, seasoned and well-respected professionals ready to cope with ourextensive work programme for 2008 and beyond. We are all looking forward to anexciting year ahead pursuing both our projects in hand and a number of othersthat are currently under negotiation.'' For further information contact: Circle Oil plc (+44 20 7638 9571)David Hough, CEO Citigate Dewe Rogerson (+44 20 7638 9571)Media enquiries: Martin JacksonAnalyst enquiries: George Cazenove Collins Stewart Europe Limited (+44 20 7523 8350)Chris Howard Notes to Editors Circle Oil Circle Oil plc (AIM: COP) is an international oil & gas exploration anddevelopment company with a growing portfolio of assets in Morocco, Tunisia,Namibia, Oman and Panama. The company listed on AIM in October 2004. Circle has the largest licence holding of any company in Oman. In addition toBlock 52, the company also has an ongoing exploration program in onshore Block49. Worldwide, the company is active in exploration in the Owambo Basin,Namibia; in the Caribbean Sea, offshore Panama; the Rharb Basin, Morocco; theRas Mamour Permit in southern Tunisia and Grombalia Permit in northern Tunisia. The Company's strategy is to locate and secure licences in new hydrocarbonprovinces and through targeted investment programmes, monetise the value inthose assets for the benefit of shareholders. This could be achieved throughfarm-outs to selected partners who would then invest in and continue thedevelopment of the asset into production, or Circle may itself opt to use itsown expertise to appraise reserves and bring assets into production, generatinglong term cash flow for further investment. www.circleoil.net This information is provided by RNS The company news service from the London Stock Exchange