Irish exploration company Circle Oil has found further oil and gas at the latest well to be drilled at its Al Amir SE discovery in Egypt.
The AIM-listed company also said it had found a potential extension to its previously discovered Lower Rudeis Formation. This will be further evaluated in future wells.
CEO Professor Chris Green said the latest drilling was expected to have a positive impact on reserve figures.
Circle also said it planned drilling at its Grombalia Permit in Tunisia in early 2011, and added that it had started the process of increasing its interest in the permit from 15% to 36%.
