Oilgas24

Home > By Province > Africa > Circle Oil rounds up $30M from KGL of Kuwait

Circle Oil rounds up $30M from KGL of Kuwait

Published Jun 11, 2007

London-listed independent Circle Oil has signed a loan for shares agreement with KGL Petroleum Co. of Kuwait, whereby some nine exploration wells and development drilling in Tunisia and Morocco will be covered.

KGL can convert the $30 million loan to shares in the company within the first five years. Meanwhile, Circle is enlisting the financing of a number of other banks, as pricy seismic is also in the cards for the southern Mediterranean Sea.

 

E-mail Print

Add a Comment

Please be civil.

( Use Markdown for formatting.)

( )

From todays news:

Bjoerge, Flowserve to propel rigs Jul 20, 2007
Oslo-based pump maker Bjoerge will enter the rig-propulsion business with U.S.-based Flowserve and a new concept to make thrusters more efficient, it was understood Friday.
Thai round attracts Salamander, Chevron Jul 20, 2007
Thailand’s latest oil and gas round has attracted 41 applications for 21 mostly landward blocks — an eclipse of last year’s interest — with local supermajor Chevron seeking out three offshore blocks, Reuters reported Friday.
Honeywell buying oil-gas automator Enraf Jul 20, 2007
Process automation company Honeywell has notched 17 percent higher net income for second-quarter 2007 year-on-year, a $611 million result that coincides with a buy-up in its process solutions unit.

More from Africa

Nigeria troops kill attacker, as kidnappings peak Jul 10, 2007
Nigerian special troops have stymied a purported kidnapping attempt at a Daewoo yard and reports indicate one would-be kidnapper was killed and several injured.
Libya seeks Big Oil only in hunt for big cats Jul 9, 2007
Libya’s National Oil Corporation has launched a licensing round aimed at its “prospective gas areas throughout the prolific geologic basins”, including four offshore blocks of some 10,300 square kilometres.
Nigeria attacks on-again, five kidnapped Jul 4, 2007
Nigerian gunmen ended an uneasy truce early Wednesday and attacked an oil platform at Soku island off the oil rich Niger Delta, taking five people hostage.
Nov 20, 2008 + 1 GMT
Full Feed
Podcast
© 2007 Oilgas24.com
t