Circle Oil Completes Moroccan Seismic Survey

Circle Oil plc announced the successful completion of the 3D seismic acquisition program in the Sebou and Gaddari areas of its concession in the Rharb Basin Morocco.

A total of 145 square kilometers of 3D seismic with a 12.5 meter bin size and 57 line kilometers of 2D seismic data have been acquired by PGS Onshore. The data processing including the application of iterative three term inversion processing is now underway. Preliminary results show very good data quality and clear indication of the first leads and potential prospects for drilling this summer.

"The successful completion on schedule of the Sebou and Gaddari seismic survey acquisition helps us to maintain our momentum in the Rharb," David Hough, CEO of Circle Oil said. "We are very encouraged by the quality of the data obtained and anticipate the leads and prospects already seen will be firmed up for the start of drilling in the second quarter 2008. We will make further announcements regarding our Moroccan work program once the data has been fully processed and interpreted."