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Circle Oil PLC - Morocco Production

RNS Number : 5235G
Circle Oil PLC
08 August 2016
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

 

                                                                                               

 

 

 

 

 

8 August 2016

 

CIRCLE OIL PLC

("Circle" or the "Company")

 

Morocco Production

Circle Oil plc (AIM: COP) the international oil and gas exploration, development and production company, announces a temporary reduction in gas production rates in Morocco. 

 

A recent earth movement near to the town of Kenitra in northern Morocco has resulted in the temporary closure of an Office National des Hydrocarbures et des Mines (ONHYM) owned and operated gas pipeline spur. This pipeline spur was used to transport some of the gas produced in the Sebou field which is owned by Circle Oil Maroc (who operate the field with a working interest of 75%) and ONHYM (with a working interest of 25%).

 

There were no injuries associated with the incident and the pipeline has been closed as a precaution while the situation is assessed and repairs are implemented.

 

Production from the field continues through Circle's separate pipeline system at production rates roughly 70% of the previous levels.

 

The reduction in gas flow rates is expected to be temporary and a further announcement will be made in due course.

 

For further information contact: 

 

Circle Oil Plc (+44 20 7182 4913)

Mitch Flegg, CEO

 

Investec (+44 20 7597 5970)
Chris Sim
George Price

James Rudd

Jonathan Wynn

 

Murray (+353 1 498 0300)
Joe Heron

Pat Walsh

 

In accordance with the guidelines of the AIM Market of the London Stock Exchange the technical information contained in the announcement has been reviewed and approved by Mitch Flegg, Chief Executive Officer of Circle Oil plc. Mitch Flegg, who has over 34 years of experience, is the qualified person as defined in the London Stock Exchange's Guidance Note for Mining and Oil and Gas companies.

 

Mitch Flegg holds a BSc in Physics from Birmingham University and is a member of the Society of Petroleum Engineers (SPE) and the Petroleum Exploration Society of Great Britain (PESGB).

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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