Circle Oil has made a significant gas discovery at its KSR-12 well, located in the Sebou Permit, onshore Morocco.
The well is located about 1.2km to the south-west of the KSR gas gathering station. It was drilled to a total depth of 1,980m.
Gas shows, confirmed by wireline logging, were identified at two different levels within the objective Hoot sands.
The company said the net gas pay encountered in the well from wireline log analysis was 19.5m in the main target Intra Hoot sands, and 1m in the Upper Hoot.
Commenting on the results of the KSR-12 well, Circle Oil CEO Chris Green said: We believe that this well will add significant volumes to our reserves for potential gas production and at rates not subject to oil price fluctuation.
"This is the third well of a six well programme to be drilled with our partner ONHYM in the Sebou permit, and is coupled with another six well programme in the Lalla Mimouna permit."
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By GlobalDataThe initial well of the campaign, LAM-1, is situated in the central part of Lalla Mimouna Nord on the East-West trending Anasba Ridge, within the existing 3D seismic area.
The LAM-1 well is targeting for Miocene gas-bearing sands, similar to the Sebou discoveries made earlier by Circle Oil.
Circle Oil said additional wells in the Lalla Mimouna and Sebou permits will follow to complete the existing programme.
Circle Oil holds a portfolio of assets in Morocco, Tunisia, Oman, and Egypt with a combination of low-risk, near-term production, and significant upside exploration potential.
