Circle Oil announce spudding of LAM-1 Well onshore Morocco
AA – Circle Oil Plc (AIM: COP), the Middle East and North Africa focused oil and gas exploration, development and production company, is pleased to announce the spudding of LAM-1 well on the Lalla Mimouna Permit, onshore Morocco.
LAM-1 is the first well to be drilled by Circle on the Lalla Mimouna permit and is located in the central part of the permit on the east-west trending Anasba Ridge, within the existing 3D seismic area.
The well is targeting the Miocene gas-bearing sands, similar to the Sebou discoveries made previously by Circle in the Sebou Permit to the south of Lalla Mimouna. The primary target sands are prognosed at a depth of 1,231 metres MD and the TD of the well at 1,521 metres MD. Depending on progress rates the well is expected to take between 14 – 20 days to drill.
The Lalla Mimouna permit is a partnership between Circle Oil Maroc Ltd (75%) and ONHYM (Office Nationale de Hydrocarbures et des Mines) (25%).
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