Circle Oil Complets Drilling and Logging On Zita-1 Well

Circle Oil plc announced the completion of drilling and logging of the Zita-1 exploration well on the Zita Prospect in the Ras Mamour Permit, southern Tunisia (23% working interest). The well has encountered hydrocarbon shows with good fluorescence seen in cuttings in multiple zones and oil returning to the surface. The initial log interpretation has given sufficient evidence to warrant full testing which is scheduled to take place before the end of this year. Until testing is completed no final conclusions can be drawn on the results of the well. A further news release will be issued once testing and the analysis and interpretation of the results is completed.

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