el jadida
el jadida/mazagan beach
19 June 2009: Drilling Update
Discovery in Well KSR-9, Sebou Permit, Rharb Basin, Morocco
Circle Oil plc (AIM: COP), the international oil and gas exploration, development and production company, is pleased to announce that the KSR-9 exploration well has been successfully drilled, logged and tested in the Sebou Permit, Morocco. The Company confirms a discovery in the Mid and Lower Gaddari and Upper Guebbas sequences with the well testing gas at sustained rates from two tested zones.
The primary target in the Mid Gaddari sequence tested at a sustained rate of 8.05 MMscfd from the upper primary target using a 30/64 inch choke. The perforated interval of 1212.8 - 1215.5 metres has a calculated net gas pay of 2.7 metres.
The middle secondary target in the Lower Gaddari and Top Guebbas sequences was perforated from 1239.2 - 1239.8 metres and 1253.6 - 1254.7 metres tested gas at a sustained rate of 4.66 MMscfd using a 24/64 inch choke with a calculated net pay of 1.7 metres.
The lower tertiary target in the Lower Guebbas sequence between 1319.0 - 1319.5 metres has a calculated net gas pay of 0.5 metres and testing of this interval will be carried out at a later date. The well is being completed as a potential producer.
A full technical evaluation of all the results of the well is underway. This will allow for forward planning as a precursor to further assessment of the resource, including conducting an extended well test to give a more complete estimation of the reserves. The drilling rig has now completed the last well of the planned six well drilling programme in the area and is being demobilized.
The Sebou permit lies to the north-east of Rabat in the Rharb Basin in Morocco. The Rharb Basin is a foredeep basin located in the external zone of the Rif Folded belt. The concession agreement, in which Circle has a 75% share and ONHYM, the Moroccan State oil company, has a 25% share, includes the right of conversion to a production licence of 25 years plus extensions in the event of commercial discoveries.
Discovery in Well KSR-9, Sebou Permit, Rharb Basin, Morocco
Circle Oil plc (AIM: COP), the international oil and gas exploration, development and production company, is pleased to announce that the KSR-9 exploration well has been successfully drilled, logged and tested in the Sebou Permit, Morocco. The Company confirms a discovery in the Mid and Lower Gaddari and Upper Guebbas sequences with the well testing gas at sustained rates from two tested zones.
The primary target in the Mid Gaddari sequence tested at a sustained rate of 8.05 MMscfd from the upper primary target using a 30/64 inch choke. The perforated interval of 1212.8 - 1215.5 metres has a calculated net gas pay of 2.7 metres.
The middle secondary target in the Lower Gaddari and Top Guebbas sequences was perforated from 1239.2 - 1239.8 metres and 1253.6 - 1254.7 metres tested gas at a sustained rate of 4.66 MMscfd using a 24/64 inch choke with a calculated net pay of 1.7 metres.
The lower tertiary target in the Lower Guebbas sequence between 1319.0 - 1319.5 metres has a calculated net gas pay of 0.5 metres and testing of this interval will be carried out at a later date. The well is being completed as a potential producer.
A full technical evaluation of all the results of the well is underway. This will allow for forward planning as a precursor to further assessment of the resource, including conducting an extended well test to give a more complete estimation of the reserves. The drilling rig has now completed the last well of the planned six well drilling programme in the area and is being demobilized.
The Sebou permit lies to the north-east of Rabat in the Rharb Basin in Morocco. The Rharb Basin is a foredeep basin located in the external zone of the Rif Folded belt. The concession agreement, in which Circle has a 75% share and ONHYM, the Moroccan State oil company, has a 25% share, includes the right of conversion to a production licence of 25 years plus extensions in the event of commercial discoveries.