PRODUCT PROFILE

Latest Dublin Prices

Limerick's Circle add another Egypt well

Thursday, March 07 14:36:03

Limerick-based, North Africa-focussed energy prospector, Circle Oil, today said it has found positive test results from a new well drilled on the Al Amir SE field (AASE) in Egypt.

The well was drilled in the centre of the field, in between two existing wells, and it encountered two reservoir zones: the Shagar sands and the Rahmi sands.

In testing the well flowed at a rate of 3,468 barrels of oil and 1.359mln cubic feet of gas per day.

The well has now been put on production at a stabilised rate of 1,333 barrels of oil per day and 1.3mln cubic feet per day.

"Circle is very pleased with the positive flow rates from the Rahmi sands of the AASE-14X ST well, where the upside of the Shagar sands remains a target for future production," said chief executive, Professor Chris Green.

"The rig has been moved to drill the AASE-16X water injector well, which was spud in early March."