Oil and gas explorer Circle Oil Plc has made a second gas discovery in three months at its key Sebou Permit in Morocco, sending its shares up 3.6 percent.

In October, Circle Oil announced finding gas in well CGD-11 in the same field.

The company, which started drilling in the Sebou Permit in September, said it found gas in the deeper regions of the KSR-10 well.

The company said it would now start drilling the fourth well of the planned five-well drilling programme at the field.

Circle Oil shares, which have gained about 17 percent over the past 12 months, were up 3.6 percent at 36 pence at 0817 GMT on Tuesday on the London Stock Exchange.

Circle Oil plc is an international oil and gas exploration company with an attractive portfolio of assets in Egypt, Morocco, Namibia, Oman and Tunisia.

Source :africanews.com