17th Nov 2009 07:00
17 November 2009
CIRCLE OIL PLC
("Circle" or the "Company")
Exercise of Options and Total Voting Rights
Circle Oil Plc (AIM: COP), the international oil and gas exploration, development and production Company, announces that it has today issued 400,000 new ordinary shares of €0.01 each in the capital of the Company pursuant to an exercise of options at an exercise price of £0.25 per share. The 400,000 new ordinary shares are expected to be admitted to trading on 20 November 2009.
Following the admission of these new shares to trading on AIM, the Company will have 411,236,819 ordinary shares of €0.01 each in the capital of the Company admitted to trading on AIM.
For further information contact:
Circle Oil Plc (+44 20 7638 9571)
David Hough, CEO
Collins Stewart Europe Limited (+44 20 7523 8350)
Adrian Hadden
Fox-Davies Capital (+44 20 7936 5230)
Daniel Fox-Davies
Citigate Dewe Rogerson (+44 20 7638 9571)
Martin Jackson / George Cazenove
Notes to Editors
Circle Oil Plc
Circle Oil Plc (AIM: COP) is an international oil & gas exploration, development and production Company with an expanding portfolio of assets in Morocco, Tunisia, Oman, Egypt and Namibia with a combination of low-risk near-term production and significant exploration upside potential. The Company listed on AIM in October 2004.
Internationally, the Company has continued to expand its portfolio over the past 2 years and now has assets in the Rharb Basin, Morocco; the Ras Mamour Permit in southern Tunisia; the Mahdia Permit offshore Tunisia; the Grombalia Permit in northern Tunisia; the Zeit Bay area of Egypt and the Owambo Basin, Namibia. Circle also has the largest licence holding of any Company in Oman. In addition to its highly prospective Block 52 offshore, the Company also has an ongoing exploration program in Block 49 onshore.
The Company's strategy is to locate and secure additional licenses in prospective hydrocarbon provinces and through targeted investment programmes, monetise the value in those assets for the benefit of shareholders. This could be achieved through farm-outs to selected partners who would then invest in and continue the development of the asset into production, or Circle may itself opt to use its own expertise to appraise reserves and bring assets into production, generating sustained cash flow for further investment.
Further information on Circle is available on its website at www.circleoil.net
Related Shares:
Circle Oil Plc