Tuesday July 14, 2020

Circle Oil in talks to sell off its African assets

Firm, which has debts of €77 million, in bid to sell Morocco and Egypt assets to London’s SDX Energy

Ian Guider

Markets Editor

15th January, 2017

Heavily-indebted Limerick-based company Circle Oil is in talks to sell its African assets to London oil firm SDX Energy.

Shares in Circle were suspended from trading in London last year as it undertook a review of its operations in a bid to reduce its debt burden. The company has received numerous waivers from its lenders as it has been unable to repay its borrowings. Circle has a total of $77 million of debt, most of...

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