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Tuesday, May 20, 2014
Circle Oil began two drilling campaigns in Morocco’s Sebou and Lalla Mimouna permits. The Sebou permit campaign, the third launched on the permit, started with the spudding of the SAH-W1 well.
Circle’s work program initially includes the drilling of three wells in the Sebou permit followed by drilling in the Lalla Mimouna permit. The Lalla Mimouna campaign will be the first launched on the permit by Circle. In all, it is planned to drill 12 separate targets and although these have been chosen and approved internally the final locations of some wells may be amended in the light of drilling results. There is a large portfolio of prospects from which to choose, if alternative locations are required.
The 12 locations initially chosen are targeting resources of approximately GIIP of 25 Bcf and the first well, SAH-W1, is targeting a dipping three way fault bounded sand lens with TD at 1,225 meters MD and primary targets in the Guebbas Formation at 1,060 and 1,160 meters MD. Circle’s pre-drill estimates are for GIIP of 1.85 Bcf and 1.0 Bcf respectively for the two targets.
It is anticipated that the drilling campaign will, at times, employ multiple drilling rigs in order to progress the campaign and provide as much continuous progress as possible.
Prof Chris Green, CEO, said: “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 maximize 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.”
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