Irish explorer Circle Oil has reported an oil find in a sidetrack well at Al Amir-1X in the North West Gemsa concession in Egypt and plans to apply for commercial production.
"The confirmation of the original Al-Amir-1 discovery together with its new lower pay zone further enhances the potential and commerciality," chief executive Officer David Hough said in a statement.
Oil was discovered in Al-Amir-1X in April 2005 and the well was redrilled and tested, Circle said. The company has assets mainly in North Africa and the Middle East.
Bloomberg