Proactive Investors UK
By Ian Lyall
In all the dozen wells are targeting a gross in place resource of 25bn cubic feet of gas.
Circle Oil (LON:COP) has fired the starting pistol on a 12-well programme in Morocco.
It represents the third campaign on the Sebou permit and first on the Lalla Mimouna property.
The drill rig has already started turning on the former with the spudding of the SAH-W1 well.
It is drilling into what’s described as a three-way dipping fault estimated to contain 2.85bn cubic feet of gas in place.
In all the dozen wells are targeting a gross in place resource of 25bn cubic feet of gas.
Chief executive Chris Green said: “Circle is very pleased to announce the start of our third drilling campaign in Morocco.
“We have previously enjoyed significant drilling success in the Sebou permit and our technical team have worked hard to maximise opportunities and ensure this success continues.
“Reserve replacement and enhancement is the key to maintaining and uplifting our revenues in what we regard as a core country to invest in for the future.
“We sincerely thank our partner ONHYM for their continuing support and assistance as we start this third drilling campaign.”
