Circle completes Egyptian well tests

Limerick-based exploration company Circle Oil has said that it has successfully carried out tests at its Al-Amir SE-3 appraisal well in Egypt.

The firm confirmed that the well tested 40° API oil and gas in the Kareem Shagar Formation at a sustained average rate from 35 feet net pay of 2,395 bopd and 2.2 MMscfd using a 32/64" choke. Short term testing achieved a rate of 4,938 standard bopd and 8MMscfd with a 64/64"choke.

A full technical evaluation of all the results is now underway to further assess the resource and to permit development planning. An assessment of reserves has not yet been completed. The well was completed as a potential producer with the testing being carried out once the rig, Mubarak-1, moved to commence drilling the Al Amir SE-4 appraisal well.

The North West Gemsa concession in Egypt, in which Circle Oil has a 40 per cent stake, covers an area of over 400 square kilometres and lies about 300 kilometres southeast of Cairo, in a partially unexplored area of the Gulf of Suez Basin. The concession agreement includes the right of conversion to a production licence of 20 years, plus extensions, in the event of commercial discoveries.

The NW Gemsa Concession partners are Vegas Oil and Gas, Circle Oil plc and Premier Oil.