Circle Oil increases reserves by 30%

Irish exploration company Circle Oil has seen its ultimate recoverable resources upgraded by 30 per cent.

28th February, 2012

Irish exploration company Circle Oil has seen its ultimate recoverable resources upgraded by 30 per cent.

The reserves increase reflects the success of the company’s development activities throughout 2011 in both Egypt and Morocco and was announced as part of its year end 2011 Competent Persons Report.

This underlines the progress that the company has made, and management’s ability to migrate from a Resource base to a Reserve base should not be overlooked either, a briefing...

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