Circle Oil targeting Tunisian deal by year-end

Circle Oil is hoping to reach agreement by the end of this year on a farm-out deal, regarding its highly-rated assets offshore Tunisia.

The Irish-registered exploration firm is also actively sizing up a number of acquisition opportunities in Northern Africa.

Speaking directly after the firm’s AGM in Dublin last Friday, during which he delivered a bullish outlook on the company’s future prospects, Circle’s new chief executive Mitch Flegg said he would be hopeful of tentatively landing a development partner for the company’s Mahdia Permit, off the coast of Tunisia, by the end of this year.