Cir­cle Oil founder eyes op­por­tu­ni­ties with Tu­nisia ven­ture

Sunday Independent (Ireland) - Business & Appointments - - FRONT PAGE - Gavin Mclough­lin

JOHN Mck­eon, co-founder of bust Cir­cle Oil, has bought Cir­cle’s Tu­nisian busi­ness via a new ve­hi­cle called Dun­raven Re­sources.

Mck­eon, who is also look­ing to strike it rich in the Ir­ish off­shore with a com­pany called Ardi­laun En­ergy, is de­scribed as Dun­raven’s founder on its web­site. Its CEO is Alex Mac­don­ald, for­mer boss of Aim-listed An­glo-african Oil & Gas.

In a re­cent pre­sen­ta­tion to in­vestors the com­pany said “it is in­tended that rapid progress be made to­wards pro­duc­tion and in­come growth”.

“Tu­nisia is seen as an oil and gas growth op­por­tu­nity. De­spite its sig­nif­i­cant ex­ist­ing oil and gas in­fras­truc­ture and va­ri­ety of hy­dro­car­bon habi­tats, the coun­try is a net im­porter of hy­dro­car­bons.

“Growth will be achieved through a com­bi­na­tion of or­ganic de­vel­op­ment and strate­gic ac­qui­si­tions,” the pre­sen­ta­tion says.

Mck­eon was among the founders of Cir­cle Oil, which was put into ad­min­is­tra­tion in the UK at the begin­ning of last year. He left an ex­ec­u­tive role at the com­pany in 2008.

Newspapers in English

Newspapers from Ireland

© PressReader. All rights reserved.