Circle Oil reports potential find in Tunisian well

CIRCLE OIL, the international oil and gas exploration and development company listed on London’s AIM, has reported a potential oil find in the first well drilled by the group in Tunisia.

Further exploration will be carried out and the company expects to declare the find commercial before the year end, according to John McKeon, head of business development at the company.

Speaking from Tunisia, Mr McKeon, the second largest shareholder in the group, said he “was cautiously optimistic” adding that a pipeline is close by, to facilitate early production if required.