31st Jul 2014 12:14
LONDON (Alliance News) - Circle Oil PLC Thursday said it does not expect a material delay to the timing of the results from its EMD-1 exploration well.
The offshore Tunisia well was spud in June and, after running the blow-out preventer and associated riser, it was found that mechanical problems had resulted in damage to the permanent guide base.
The blow-out preventer and marine riser are now being re-run ahead of completing drilling to the primary and secondary target horizons, it said.
Circle Oil shares were down 2.3% to 18.81 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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