Circle Oil is committed to its ongoing production operations in Morocco and Egypt. We have an established track record in finding gas resources and selling at mutually favourable rates in Morocco, and continue to work with the operator in Egypt to reduce the decline in production and maintain the low cost per barrel of operations in our oil fields there. Elsewhere we are committed to meeting our existing exploration obligations to increase our profitable reserves base.
We have been made aware of offers of employment with Circle Oil being available through third party sites. Such notices have not been authorised by Circle Oil or any related / subsidiary company. We strongly warn against responding to these third parties by giving them any personal information or money. No individuals or organisations are currently authorised to offer jobs with Circle Oil as we are not currently hiring for any positions. You should assume that any such approaches are not genuine.
“Circle Oil continues to focus on maximising returns from its low cost onshore production operations.
Our gas production in Morocco is sold at fixed prices which are independent of oil price. In the first half of 2016 the average price realised for our gas was US$8.64/Mcf and our operating costs in full year 2015 were only US$0.58/Mcf.
In Egypt the price realised for our oil production is related to the international crude oil price but in full year 2015 our operating costs were kept to US$5.22/bbl”