Limerick headquartered international oil and gas exploration firm Circle Oil reported drilling of an appraisal well in Egypt was successful.
The Al-Amir SE-5 appraisal well has been successfully drilled and production tested in the Al-Amir Development Lease in the onshore North West Gemsa Concession in Egypt, the company said, and will now be prepared for production.
Circle Oil has a 40 per cent interest in the NW Gemsa concession.
Testing indicates that the total net thickness of the two pay zones is about 36.5 feet.
Circle's chief executive David Hough said the completion of the Al Amir SE-5 well said the reservoir in the area may be slightly larger than originally mapped.