Circle sees Egyptian flows

London-listed explorer Circle Oil said it was currently performing production tests on the Al Amir 1-ST2 well in the onshore North West Gesma concession, Egypt.

Circle said the initial flow rate from the well, originally drilled in 2008, was 278 barrels per day from a 48 foot interval within the evaporitic sequence of the South Gharib formation. It added original drill stem tests in 2008 produced up to 416 bpd using nitrogen lift.

Once the production tests are completed Circle said it plans to put the well on production and oil would be trucked to the Zeitco terminal.

The North West Gesma concession is about 300 kilometres south-east of Cairo and covers an area of over 264 kilometres in a partially unexplored area of the Gulf of Suez basin.

Circle holds a 40% interest in the concession with operator Vegas Oil & Gas holding 50% and Sea Dragon Energy holding the remaining 10%.


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