Circle Commences Surveying Work at Moroccan Permits

Circle announced the commencement of surveying work and mobilization for the new seismic acquisition campaign within our permits in the Rharb Basin, Morocco.

The campaign is scheduled to acquire a further 120 square kilometers of 3D data as well as 24 full fold line kilometers of 2D and is expected to last 4-5 months.

The data will be subsequently processed and interpreted for use in the identification and prioritization of drilling targets for the third drilling campaign presently scheduled to commence in early 2012.

Senior Management Appointment

Circle also announced the appointment of Dr. Mohamed El Mostaine as Operations Manager for Circle Oil Maroc Ltd. Dr. El Mostaine holds a Doctorate in Geology and Petroleum Geology Engineering from the French Institute of Petroleum. He joined the National Office of Hydrocarbons and Mines (ONHYM) in 1981. From 2006 until taking up his position with Circle, Dr. El Mostaine was Director of Exploration Petroleum for ONHYM. He is also a member of the American Association of Petroleum Geologists (AAPG), the Society of Petroleum Engineers (SPE) and is the President of the Moroccan Association of Petroleum Geologists (MAPG).

Dr. El Mostaine will initially manage the new seismic acquisition campaign and contribute to both the planning and technical studies to be produced in preparation for the third drilling campaign in the Rharb Basin.

In combination with other senior Circle staff and our country managers in Morocco, Tunisia and Oman, he will also contribute to identifying, evaluating and securing new business opportunities in Circle's geographic area of interest.

Commenting on the appointment Prof. Chris Green, CEO, said, "We welcome Mohamed to Circle. With his extensive experience and knowledge of North Africa we look forward to his contribution to Circle's growth."

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