Exercise of Options
January 21 2010 - 11:37AM
UK Regulatory
TIDMCOP
RNS Number : 9492F
Circle Oil PLC
21 January 2010
21 January 2010
CIRCLE OIL PLC
("Circle" or the "Company")
?Exercise of Options and Total Voting Rights
Circle Oil Plc (AIM: COP), the international oil and gas exploration,
development and production Company, announces that it has today issued 1,500,000
new ordinary shares of EUR0.01 each in the capital of the Company pursuant to an
exercise of options at an exercise price of GBP0.30 per share. The 1,500,000 new
ordinary shares are expected to be admitted to trading on 27 January 2010.
Following the admission of these new shares to trading on AIM, the Company will
have 415,836,819
ordinary shares of EUR0.01 each in the capital of the Company admitted to trading
on AIM.
For further information contact:
Circle Oil Plc (+44 20 7638 9571)
David Hough, CEO
Collins Stewart Europe Limited (+44 20 7523 8350)
Adrian Hadden
Fox-Davies Capital (+44 20 7936 5230)
Daniel Fox-Davies
Citigate Dewe Rogerson (+44 20 7638 9571)
Martin Jackson / George Cazenove
Notes to Editors
Circle Oil Plc
Circle Oil Plc (AIM: COP) is an international oil & gas exploration, development
and production Company
with an expanding portfolio of assets in Morocco, Tunisia, Oman, Egypt and
Namibia with a combination of low-risk near-term production and significant
exploration upside potential. The Company listed on AIM in October 2004.
Internationally, the Company has continued to expand its portfolio over the past
2 years and now has assets in the Rharb Basin, Morocco; the Ras Marmour Permit
in southern Tunisia; the Mahdia Permit offshore Tunisia; the Grombalia Permit in
northern Tunisia; the Zeit Bay area of Egypt and the Owambo Basin, Namibia.
Circle also has the largest licence holding of any Company in Oman. In addition
to its highly prospective Block 52 offshore, the Company also has an ongoing
exploration program in Block 49 onshore.
The Company's strategy is to locate and secure additional licenses in
prospective hydrocarbon provinces and through targeted investment programmes,
monetise the value in those assets for the benefit of shareholders. This could
be achieved through farm-outs to selected partners who would then invest in and
continue the development of the asset into production, or Circle may itself opt
to use its own expertise to appraise reserves and bring assets into production,
generating sustained cash flow for further investment.
Further information on Circle is available on its website at www.circleoil.net
This information is provided by RNS
The company news service from the London Stock Exchange
END
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