Corcel plc’s partner will soon restart intervention activities at the Tobias-13 and Tobias-14 wells on block KON-11 in the Kwanza Basin, onshore Angola.
CONFIDENT
Previous drilling and testing resulted in minimal oil for TO-13 and significant water in TO-14’s clean-up.
The company said that the work by operator Sonangol would provide additional information specifically relating to both wells.
Chief executive Scott Gilbert added: “Although the initial results from the drilling of the Tobias wells in late 2023/early 2024 did not yield the expected results, the operator is confident on the potential of the field.
“While the transformational value for the company is expected to be highlighted through the forthcoming seismic campaign targeting the pre-salt and post-salt leads and prospects in our various blocks in the Kwanza basin, the historic Tobias Field in KON-11 is an important opportunity for the company and we are eager to explore the field’s remaining potential.”
Corcel has working interests of 20% in KON-11 and 25% in KON-12, both considered brownfield redevelopment with historic production from the Tobias and Galinda fields.
The company additionally operates KON-16 and holds a 55% working interest.
Corcel also holds options over the IRAI gas field and the TUC-T-172 exploration block, onshore Brazil, and an 80% working interest in the Mt Weld rare earth elements project in Western Australia.