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.

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.