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Oil and gas explorer Circle Oil said it made a second gas discovery in three months at its key Sebou Permit in Morocco, sending its shares up 3.6 per cent. In October, Circle Oil said it found 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 explorer, with assets in Morocco, Namibia, Oman, Egypt and Tunisia, also said it would now start drilling the fourth well of the planned five-well drilling programme at the field.