Circle completes Tunisia 2D program

Circle Oil has completed a 2D marine seismic acquisition program in the Mahdia permit offshore Tunisia.

Feb 27th, 2009

Offshore staff

LONDON -- Circle Oil has completed a 2D marine seismic acquisition program in the Mahdia permit offshore Tunisia.

A total of 500.75 km (311 mi) of infill full-fold 2D seismic data was acquired by PGS Marine. The acquired data will go for processing as a precursor to its interpretation and integration into the existing datasets for the area, the company says.

The Mahdia Permit is off the northern coast of Tunisia and covers 3,780 sq km (1,459 sq mi). The surrounding area has been successfully explored by Shell and Total resulting in discoveries and commercial oilfields such as Tazerka, Birsa, Oudna, Halk Al Menzel, and Isis. Circle holds a 70% working interest in the permit with its partner Tethys Oil and Mining Inc. holding the remaining 30% interest. A commitment well must be drilled on the permit between now and mid 2012.

"The onboard preliminary processing of the acquired data clearly shows the target sequences and we are very pleased to progress our studies in this prospective area," says David Hough, CEO of Circle Oil. "The integration of this new data will allow us to complete our mapping and prioritize the multiple undrilled prospects which have already been mapped from the existing datasets."

02/27/2009

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