Circle Oil has announced a 53% increase in profit to $13.3m to the end of June 2012.
The exploration company also reported a 23% increase in turnover to $35.4m.
A new pipeline in Morocco, a doubling of gas sales, new producing wells and a new injector in Egypt are noted as highlights in the first half of the year.
Professor Chris Green, CEO welcomed the results saying that exploration and development activities had resulted in improved profitability.
