Circle Oil, an E&P company with assets in Morocco, Oman, Panama and Tunisia, has announced that the Al Amir SE-1 sidetrack well in Egypt has successfully been drilled, with 41o API oil at a rate of 3338 bpd and gas at 4.25 million ft3/d. The well found at the onshore North West Gemsa concession in Egypt had been sidetracked after operational difficulties.
The North West Gemasa concession covers 400 km2 and lies about 300 km southeast of Cairo in a partially unexplored part of the Gulf of Suez Basin. Partners included in the concession are Vegas Oil and Gas (50% interest and operator), Circle Oil (40%) and Premier Oil (10%).
 “This discovery is excellent news, combined with our gas production start-up in Morocco and our recent successful fund raising. These events leave the Company in a very strong position. They give us the option to bring the Al Amir SE-1 ST well into production quickly with infrastructure approximately 6 km away and will also allow us to carry out our ambitious plan to drill 15 wells over the next 24 months on our North African licenses. It is indeed a busy and exciting time for Circlem,” said, David Hough, CEO of Circle.
