Circle Oil founder eyes opportunities with Tunisia venture
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.