Circle Oil Plc announced the following update regarding operations in its Grombalia Permit.
The Bou Argoub-1 (BAB-1) exploration well in the South West Belli area of the Grombalia Permit, near to the Belli, El Manzah, and Beni Khaled fields has spud and commenced drilling Oct. 30, 2012.
The BAB-1 well has an expected total depth of 4,429 feet (1,350 meters) and is targeting a fault-bounded structural culmination crossing two vertically stacked fractured carbonate reservoirs, the Eocene Bou Dabbous Formation and the Late Cretaceous Abiod Formation. These are the main oil-producing formations in the north-eastern part of Tunisia.
Following completion of the BAB-1 well, the rig will move south to the Ras Marmour Permit in preparation to drill the Sedouikch commitment exploration well. This well has an expected total depth of 7,710 feet (2,350 meters) and is targeting the Early Cretaceous Lower Meloussi sands, productive in the nearby Robanna and Mazrane Fields.
Further updates will be made in due course.
The Grombalia Permit covers an area of 1,078 square miles (2,792 square kilometers). The partners include Exxoil Tunisie Ltd (64% working interest and operator) and Circle (36% working interest).
The Ras Marmour Permit covers an area of 619 square miles (1,604 square kilometers). The partners include Exxoil Tunisie Ltd (77% working interest and operator) and Circle (23% working interest).
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