Tunisia: Circle Discovery

Circle Oil has announced a light oil discovery with the El Mediouni-1 (EMD-1) exploration well on the Mahdia permit. EMD-1 was drilled in the north-central area of the permit in a water depth of 240 metres, 120km east of Sousse. The well was spudded on 8 June and drilled to a depth of 1,200 metres MD in the Upper Ketatna carbonates. The company said “very good light oil shows” were encountered in the main Lower Birsa carbonate target and the secondary Upper Ketatna carbonates target over a combined interval of 133 metres. Circle estimates recoverable resources at 100m barrels, but hole conditions deteriorated rapidly and Circle was unable to log the well.