Circle Oil provides operating update on Sebou Permit onshore Morocco

AA – Circle Oil plc (AIM: COP), the North African focused oil and gas exploration, development and production company, is pleased to provide an update on the progress of the Ksiri West-A (KSR-A) exploration well on the Sebou Permit, onshore Morocco.

The KSR-A well, located within the Ksiri Central production concession of the Sebou permit, reached a TD of 1,890 metres MD on 19 September 2015. Prospective gas zones were logged, and a completion string installed in preparation for well testing and then connection to existing production facilities.

The KSR-A well has been tested using a slick-line unit following the release of the rig. The primary Main Hoot target interval was perforated from 1,817.9 to 1,826.7 metres MD and flowed gas at a maximum rate of 8.0MMscf/d on a 24/64″ choke.

The well will be tied back to the 75% owned Circle Oil pipeline from Sebou to the industrial area of Kenitra ready for production. The well is approximately 680m to the west of KSR-11, for production line tie-back, and 1.12km west of the Ksiri sub-station. The production concession has validity through 2024.

The rig has now relocated to drill the Caid El Gaddari-13 (CGD-13) well, the final well of Circle’s current drilling campaign. The location lies within the Gaddari Sud exploitation concession near the southwestern margin of the Sebou Permit. This well has a primary target at 780 metres MD and a prognosed TD at 867 metres MD. The target consists of gas-bearing Miocene sandstones in a structurally elevated position east of the CGD-1 well and west of the CGD-9 well. Depending on progress rates, initial results could be available in approximately 30 to 40 days.

Commenting on the results of the KSR-A well Mitch Flegg, CEO, said:

“We are delighted with the results of the KSR-A well. The flow rates achieved during the well test are at the upper end of our range of expectations and the well will now be tied in to our existing infrastructure and put into production as soon as possible. This gas will be sold at fixed rates which are not subject to oil price fluctuations.”

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