Circle Oil Receives Payment from EGPC

Circle Oil Plc is pleased to announce receipt of US$15 million as part of a recent special payment distribution by the Egyptian Government to oil companies operating in Egypt. This has resulted in a significant reduction in the outstanding debt owed to the Company.

Commenting Prof. Chris Green, CEO, said:

"We are delighted to have received this special payment which, both for Circle and in the larger industry context, should be seen as a very positive step. We thank the Egyptian Government and look forward to continuing to further develop Circle's position in Egypt."

For more information about related Opportunities and Key Players visit Egypt Oil and Gas Projects