Company Information for Circle Oil plc

AIM-COP

www.circleoil.net

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AIM; COP

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Company Statement

Circle Oil plc is an oil and gas exploration, development and production company with an attractive portfolio of assets in Morocco, Namibia, Oman, Egypt and Tunisia.

The Company's strategy is to locate and secure licences in the new hydrocarbon provinces with the objective of bringing these licences up to farm-out status through minimal work programmes.

The Company's shares were listed on the Alternative Investment Market (AIM) of the London Stock Exchange in October 2004. The Company is incorporated in the Republic of Ireland and retains it's registered office in Limerick, Republic of Ireland, with technical services centred in Berkshire, United Kingdom.

Operations and Technology

Egypt: NW Gemsa
The NW Gemsa concession covers an area of over 400 square kilometers and lies approximately 300 kilometers southeast ofCairo in a partially unexplored part of the prolificGulf of Suez Basin.

The Basin has an area of approximately 19,000 square kilometers and is considered as the most prolific oil province rift basin in Africa and theMiddle East. The Gulf runs in a northwest to southeast direction and forms an elongated graben measuring 320 kms in length. It is bounded by two major sets of marginal faults. Reservoirs range from Quarternary to Pre-Cambrian age. Of particular interest in the NW Gemsa is the Palaeozoic-Cretaceous Nubia Sandstone.In early 2008 Circle farmed into the North West Gemsa Block acquiring a 40% interest in the license with operating partner Vegas Oil and Gas and other partner Sea Dragon Energy Inc. holding 50% and 10% respectively. An initial upside to the farm in was the Al Amir-1 well discovery of April 2005, having flowed under N2 lift test at 787 bopd.

Morocco
Circle Oil Maroc Ltd. (COML), a wholly owned subsidiary of Circle Oil Plc, has signed an Exploration and Exploitation Agreement with ONHYM (Office National des Hydrocarbures et des Mines) for the Sebou Concession (296 km sq.), situated in the Rharb Basin, Morocco. The Exploration Agreement is for a total period of 8 years with the right of automatic conversion to a minimum (but extendable) 30 year Exploitation period. The Sebou Permit has previously been owned, explored and exploited by ONHYM. In the new partnership the shareholding is COML 75% and ONHYM 25%.

COML as operator conducted a 3D seismic survey and during late 2007 and early 2008 and this was followed in late 2008/early 2009 by a 6 well drilling campaign which completed the required commitment for the first 3 year period.

Namibia
Circle Oil has converted its two year Reconnaissance License in the Owambo Basin into a four year exclusive Exploration License. During the first phase the licence requires a seismic data acquisition and a one-well drilling programme. Two additional extensions, each of two years, are optional and require the drilling of an additional well during each extension.

The block occupies an area of approximately 140 000 km2 and covers nearly all of the prospective part of the Owambo Basin in northern Namibia. In 2004 Circle's subsidiary, First African Oil Corporation, completed its first operations in the area by acquiring some 7627 km of aerogravity and aeromagnetic data in the central and western portions of the block. This data has been interpreted and is being used to help plan the upcoming seismic programme.

Oman Block 49
An Exploration and Production Sharing Agreement between the Sultanate of Oman and Circle Oil Oman Ltd. on Block 49 was negotiated and signed in June 2005. The agreement calls for three years of seismic and potential-fields data acquisition and analysis, followed by two, optional extensions, of eighteen months each, which would involve further data acquisition as well as drilling campaigns.

The block occupies an area of 15,438 km2 and is located in the Rub Al Khali Basin. Circle Oil has done a full inventory of all historic data on the area and has transfered a considerable portion of the 11,438 km seismic and 18,087 km of aeromagnetics to Houston for reinterpretation. This work began late last year and is ongoing.

Oman Block 52
An Exploration and Production Sharing Agreement between the Sultanate of Oman and Circle Oil Oman Offshore Ltd for Block 52 was negotiated and signed in September 2005. This agreement calls for the acquisition and analysis of 2D seismic data during the first three years. Two optional extensions, each of three years, will involve further seismic data acquisition as well as drilling campaigns.

The block occupies an area of 90,760 km2 with water depths ranging from 200-3500m. Copies of the 10,540 km of previously acquired 2D seismic have been obtained, along with the associated gravity and magnetic data. Three wells have been drilled prior to the granting of the licence to Circle.

Tunisia: Mahdia Permit
The Mahdia permit covers an area of 3780 square kilometres and is bounded by the Nabeul Permit to the north and the territorial boundary with the island of Lampedusa to the east. Historically the geology and potential of this and the surrounding offshore area was successfully explored by Shell and Total and previous exploration has resulted in discoveries and commercial oilfields including fields such as Tazerka, Birsa, Oudna, Halk El Menzel and Isis.

Tunisia: Grombalia Permit
The first prospect to be drilled by Circle Oil/Exxoil was the Serdouk location and this was located in a faulted block located close to existing production - the Belli, Beni Khalled and El Manzah fields. The petroleum system in this area has been proven with the Bou Dabbous and/or Bahloul limestones and Fadhene shales as source rock and the fractured Bou Dabbous and Abboid limestones as reservoirs. The well itself proved up both the stratigraphy and structural configuration but failed to flow commercial hydrocarbons due to the lack of permeability in the target formations.

Tunisia: Ras Marmour Permit
This permit is located in the South-East of Tunisia covering part of Djerba Island and south of the Gulf of Gabès. The permit covers 1564 sq km and is located in an area with two significant hydrocarbon discoveries and a number of smaller ones. The onshore Ezzaouia Oil and gas field discovered by MARATHON in 1986, initially produced at over 30 000 BOPD, is presently producing approximately 3000 BOPD. By the end of 2005, the field is believed to have produced around 29 MMBO. The offshore El Biban oil and gas field, also discovered by MARATHON in 1982, produced up to 5 000 BOPD. Reserves are estimated at 7.97 MMBO and has produced since 1998 more than 2.9 MMBO. Discoveries include the Robbana field which was discovered by MARATHON and Mazran field, discovered by HBS which is understood to be under evaluation.

Board of Directors and Key Management

Board of Directors
Thomas Anderson	Non-executive Chairman
Professor Chris Green	Chief Executive Officer
Ramadan Aburawi	Non-executive Director
Mohammad Sultan	Non-executive Director

Senior Management
Brendan McMorrow FCCA	Chief Financial Officer and Company Secretary
Ali Chine	Country Manager, Tunisia
Dr. Stuart Harker	Vice President Geology
Adrian Burrows	Vice President Geophysics

Company Address

6 Lower Mallow Street
Limerick, United Kingdom


Telephone:	+353-61-319366
Facsimile:	+353-61-310210
Website:	http://www.circleoil.net

Additional Address/Key Contact

United Kingdom Offices:
Circle Oil Services UK,
The Courtyard,
Finchampstead,
Wokingham,
Berkshire RG40 4LW.
United Kingdom

Morocco Office:
Circle Oil Maroc Limited.
2 Rue GHZAOUA.
Souissi LA PINEPED
10000 Rabat

Oman Office:
Al Khuwair 25, College Street,
Way no. 4927, Villa no. 2084,
Po Box no. 270 PC 134,
Muscat,

Tunisia Office:
7 Rue Dar Essalam,
Gammarth,
1057

Capital

Total number of Shares in issue; 409,836,819

Nominated Brokers

Evolution Securities Limited,
100 Wood Street,
London EC2V 7AN,
United Kingdom.

Fox Davies Capital,
Whitefriars House,
6 Carmelite Street,
London,EC4Y 0BS
United Kingdom

Nominated Advisors

Evolution Securities Limited,
100 Wood Street,
London EC2V 7AN,
United Kingdom.

Major Shareholders

Thomas Anderson (Chairman)	20,000,000	12.24
J. P. McKeon - Director	15,450,000	9.45
D. Hough - Director	12,550,000	7.68

Most Recent Statement

21/07/10 - Drilling Update Egypt
07/07/10 - Egypt Operating Update
21/06/10 - Preliminary Results
26/05/10 - Egypt Operating Update
21/05/10 - Operating Update Egypt
21/04/10 - Operating Update Egypt

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