Circle Oil farms out Panama licence on ground floor terms
Tuesday, June 27, 2006
Circle Oil plc has signed a joint venture agreement with a private Australian company, Montage Petroleum Ltd, with regard to Circle's offshore Panamanian license block.
Montage have taken a one third interest in the license and will contribute to all work programmes on the licence pro rata to their shareholding.
Circle is currently assimilating and reinterpreting all available information on the license block before commencing its Panama exploration programme later this year.
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