Circle Oil `delighted' with flow rates at Moroccan well

Circle Oil has welcomed positive flow rates at its Ksiri West - A (KSR-A) well in North Africa and hopes to put it into production soon, it said in an update on Tuesday.

The onshore Moroccan well, on the Sebou Permit, reached a total depth of 1,890 metres on September 19th.

Prospective gas zones were logged, and a completion string installed in preparation for well testing and connection to existing production facilities, the exploration company said.

The well will be tied back to the 75 per cent owned Circle Oil pipeline from Sebou to the industrial area of Kenitra ready for production.

"We are delighted with the results of the KSR-A well. The flow rates achieved during the well test are at the upper end of our range of expectations and the well will now be tied in to our existing infrastructure and put into production as soon as possible," said chief executive Mitch Flegg.

“This gas will be sold at fixed rates which are not subject to oil price fluctuations.”