Circle Begins Third Onshore Morocco Drilling Campaign
Junior explorer Circle Oil reported Monday that the third drilling campaign in the Sebou permit and first campaign in the Lalla Mimouna permit, onshore Morocco, has begun with the spud of the SAH-W1 well.
Circle said the work program initially will include the drilling of three wells in the Sebou permit followed by drilling in the Lalla Mimouna permit. In all, Circle plans to drill 12 separate targets that are targeting resources of approximately 25 billion cubic feet of gas.
Circle CEO Professor Chris Green commented in a company statement:
"Circle is very pleased to announce the start of our third drilling campaign in Morocco. We have previously enjoyed significant drilling success in the Sebou permit and our technical team have worked hard to maximise opportunities and ensure this success continues. Reserve replacement and enhancement is the key to maintaining and uplifting our revenues in what we regard as a core country to invest in for the future. We sincerely thank our partner ONHYM for their continuing support and assistance as we start this third drilling campaign."
Circle holds a 75-percent interest in the Sebou and Lalla Mimouna permits, with Morocco’s Office Nationale de Hydrocarbures et des Mines holding the remaining 25 percent.
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