StockMarketWire: Circle Oil Suspends Morocco Well

Circle Oil has suspended the ANS-2 exploration well on the Lalla Mimouna permit, onshore Morocco, after it failed to meet pre-drill estimates. ANS-2 was the second well drilled by Circle on the Lalla Mimouna permit, following the successful LAM-1 well. The ANS-2 well targeted the Miocene sands and the TD of the well, at 1,070 metres MD, was reached on 29 June 2015.

Although the well encountered gas shows whilst drilling at the targeted depth, the interpretation of wireline logs indicates that the reservoir quality encountered in the well has not met the company's pre-drill estimates. The well has been suspended pending further analysis of all the data before a decision is made on whether or not to complete the well.

Read the full article HERE.