Irish exploration firm, Circle Oil, has effectively placed itself up for sale, by initiating an “all options” strategic review to reduce debt, maintain sufficient cash-flow, and maximise shareholder value.

Irish-founded exploration firm Circle Oil is considering a fresh equity raise in the new year in a bid to “right size” its balance sheet.

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Exploration firm Circle Oil has said it may explore a number of funding options to safeguard its financial stability in the current depressed oil price environment.

Twin brothers, whose passion for computers began at the age of 10 when they took their computer apart and worked out a way to make it faster, have clinched them millions in EU funding.

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.

Circle Oil has launched a strategic review of its cost base after falling oil prices sunk the company’s financial performance last year.

The Egyptian Government has effectively halved its outstanding debt to Irish exploration firm, Circle Oil by paying it $15 million (€13m).

Limerick-based exploration firm, Circle Oil, yesterday saw its share price soar by nearly 27% on the back of it finding considerably more gas than expected at the third of a current 12-well drilling campaign in Morocco.

The Limerick-based exploration firm Circle Oil has commenced the search for a new chief executive after announcing that the incumbent, Professor Chris Green, intends to step down and resign from the company’s board. 

Limerick-based exploration firm, Circle Oil has confirmed it intends to seek a farm-in partner for its highly-anticipated offshore Tunisian assets.

Circle Oil is to continue expanding its asset base in the Middle East and North Africa, both organically and via acquisition.

Limerick-based exploration firm Circle Oil’s market value jumped by over €30 million to €163m yesterday on the back of it announcing a potentially transformational oil discovery off the coast of North Africa.

Circle Oil — the Limerick -based exploration firm with assets in northern Africa and the Middle East — is actively considering making its first dividend payment to shareholders.

Circle Oil is set to further develop its Middle Eastern assets later this year with both drilling and farm-out activity planned.

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Limerick-based explorer, Circle Oil intends to expand its presence in northern Africa in a bid to increase shareholder value, after reporting record revenue and production growth for last year.

Irish exploration company Circle Oil is targeting drilling activity in all of its territories in 2014, with management promising a very active year.

Limerick-based explorer Circle Oil has vowed to further grow its business with increased drilling activity as well as more acquisitions, after reporting strong profit, revenue, and production gains in the first six months of the year.

Cash flows of up to $10.6bn (€8bn) could be generated by Providence Resources’ 80% stake in the Barryroe oil field in the Celtic Sea, according to fresh estimates.

Limerick-based exploration company Circle Oil has reported a 26% jump in revenue as the company benefited from higher oil and gas prices and a rise in cash from its Egyptian operations.

Limerick-headquartered oil and gas exploration company, Circle Oil has secured $12.5m (€9.5m) in additional funding for its assets in Egypt.

Co Limerick-based international oil and gas exploration company Circle Oil has reported a 53% increase in profits in the first half of the year.

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Increased production rates and rising oil and gas prices boosted revenues and profits — the latter by as much as 147% — to record levels at Limerick-headquartered exploration company, Circle Oil last year.

Irish mining companyConroy Gold and Natural Resources has announced a near 20% increase in estimated total resources at its Co Monaghan-based gold project at Clontibret to over 600,000 ounces.

LIMERICK-headquartered exploration firm, Circle Oil has found additional oil content at one of its chief assets in Egypt, potentially increasing the size of the overall field.

MANAGEMENT at the exploration company Circle Oil has hailed “excellent progress” made in the first half of the year, with after-tax profits surging by 316%, year-on-year, to $8.7 million (€6.2m).

CIRCLE Oil, the Limerick-based oil and gas exploration company, has successfully completed the latest phase of its well management programme at the Al Amir field in Egypt.

LIMERICK-BASED oil and gas exploration company Circle Oil recorded a net profit of $10.36 million (€7.23m) last year, after incurring a loss of $13.51m in 2009.

Oil and gas exploration company Circle Oil has moved into profit for the first time.

LIMERICK-BASED exploration company Circle Oil’s Moroccan and Egyptian assets could hold up to 83% and 65% more oil reserves than initially anticipated.

LIMERICK-headquartered international oil and gas exploration company Circle Oil has found more gas at its operations in northern Africa, which could well present serious benefits for the company and local population alike.

Limerick: Irish oil and gas exploration company, Circle Oil has announced it has commenced the test pumping of oil from its A1 Ola-1X well in Egypt.

IRISH oil and gas exploration company Petroceltic has seen its first-half pre-tax losses widen to just under $5 million (€3.9m), from just over $2m for the same period last year.

INTERNATIONAL oil and gas explorer Circle Oil, which has a base in Limerick, has announced its Al Amir 1-ST2 well, originally drilled in 2008, has been tested for production.

OIL and gas exploration company, Circle Oil, headquartered in Limerick, has raised $65 million (€49m), via a second share placing in 12 months, in order to aid its medium-term growth prospects.

TULLOW Oil has finally received conditional formal approval from the Ugandan Government for its purchase of the 50% stake in two licences previously owned by former production partner, Heritage Oil.

Limerick-based oil and gas exploration and production company Circle Oil saw first revenues from operations in Egypt and Morocco and higher oil prices move them to its first gross profit in 2009.

Limerick-headquartered oil and gas exploration company Circle Oil has today announced that a site in Cairo “may even be slightly larger than originally thought”, according to the company.

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.