Circle Oil, an exploration and production company, says it has received a permit extension to its Grombalia concession in Tunisia.
The company now has until December 18th to complete operations at the site.
The so called BAB-1 well will have an an expected total depth of 1,350 metres.
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Professor Chris Green, Circle's Chief Executive, said: "We are very pleased that preparations are now underway for the drilling of our exploration well in the Grombalia Permit. This type of fault-bounded structure has proven historically to be successful for drilling."
Circle shares were up 2.5% at 10:44.
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