SUCCESSFUL COMPLETION OF MOROCCAN SEISMIC SURVEY
Posted on February 13, 2008 – 2:14 pm | by oilandgaspress.com
Circle Oil plc (AIM:COP), the oil and gas exploration and exploration and development group is today pleased to announce the successful completion of the 3D seismic acquisition programme in the Sebou and Gaddari areas of its concession in the Rharb Basin Morocco.
A total of 145 square kilometres of 3D seismic with a 12.5 metre bin size and 57 line kilometres of 2D seismic data have been acquired by PGS Onshore. The data processing including the application of iterative three term inversion processing is now underway. Preliminary results show very good data quality and clear indication of the first leads and potential prospects for drilling this summer.
Commenting on the news David Hough, CEO of Circle Oil said:
“The successful completion on schedule of the Sebou and Gaddari seismic survey acquisition helps us to maintain our momentum in the Rharb. We are very encouraged by the quality of the data obtained and anticipate the leads and prospects already seen will be firmed up for the start of drilling in the second quarter 2008. We will make further announcements regarding our Moroccan work programme once the data has been fully processed and interpreted.”
For further information contact:
Circle Oil plc
David Hough, CEO (+44 20 7638 9571)
Citigate Dewe Rogerson (+44 20 7638 9571)
Media enquiries: Martin Jackson
Analyst enquiries: George Cazenove
Collins Stewart Europe Limited (+44 20 7523 8350)
Chris Howard
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Tags: CIRCLE OIL, MOROCCAN, Seismic, SURVEY
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