Circle Oil: No Material Delay Due to Mechanical Issues Off Tunisia

Further to the announcement of 9 June 2014, Circle Oil Plc, the Middle East and Africa focused oil and gas exploration, development and production company, has provided an update on the EMD-1 exploration well, offshore Tunisia.

The well was spud on 8 June 2014 and drilled to 753 metres MD after which the 20 inch casing was run and successfully cemented. After running the blow out preventer (BOP) and associated riser it was found that mechanical problems had resulted in damage to the permanent guide base.

This was found to be irreparable locally and a replacement permanent guide base has been delivered and installed. The BOP and marine riser are now being re-run ahead of completing drilling to the primary and secondary target horizons expected at 1,260 metres MD and 1,460 metres MD respectively. Circle does not anticipate a material delay to the timing of results for the well.

The well is located within the vicinity of many producing fields, including the Tazerka, Birsa, Oudna, and Halk El Menzel oil fields, and the Maamoura gas field. The well is planned to test the play potential of the El Mediouni prospect, including the primary Birsa Sands target and the secondary fractured carbonates of the Ketatna Formation.