Middle East Economic Survey


No 21



Circle Announces New Oil And Gas Find In Northwest Gemsa License

AIM-listed Circle Oil announced an oil and gas discovery at the Northwest Gemsa license in Egypts Eastern Desert, on 19 May, less than three months after a previous discovery there was brought on-stream. Test drilling at the Geyad-IX exploration well flowed 40 API oil and natural gas from the Kareem Formation sandstones at a sustained rate of 2,809 b/d and 3mn cfd...