LONDON: Circle Oil Plc (AIM:COP) completed a 2-D marine seismic acquisition program in the Mahdia Permit offshore Tunisia. A total of 311 miles (501 km) of infill full fold 2-D seismic data has been acquired by PGS Marine. The acquired data will now be sent for processing as a precursor to its interpretation and integration into the existing datasets for the area.
The Mahdia Permit is situated off the northern coast of Tunisia and covers an area of 1,459 square miles (3,780 sq km). Historically this and the surrounding area was successfully explored by Shell and Total resulting in discoveries and commercial oilfields, such as Tazerka, Birsa, Oudna, Halk Al Menzel and Isis.
Circle Oil CEO David Hough said, "The onboard preliminary processing of the acquired data clearly shows the target sequences and we are very pleased to progress our studies in this prospective area. The integration of this new data will allow us to complete our mapping and prioritize the multiple undrilled prospects which have already been mapped from the existing datasets."
Circle holds a 70 percent working interest in the permit with its partner Tethys Oil and Mining Inc., which holds the remaining 30 percent interest. A commitment well must be drilled on the permit between now and mid-2012.
Source [Energy Current]
