Corcel plc has raised £2,717,000 via the issue of 1,698,125,000 new ordinary shares of £0.0001 each at a 6.7% premium price of £0.0016 per share. TVRs The fundraise is with strategic investors with “significant” experience in the oil and gas sector. Each investor will receive one warrant for each placing share to subscribe for one […]
Tag: Brazil
Corcel increases stake in KON-16
Corcel plc has acquired an additional 20% in its operated block KON-16 in the Kwanza Basin, onshore Angola. FUNDRAISE The acquisition, subject to approvals, is through its 90% owned subsidiary Atlas Petroleum Exploration Worldwide Ltd (APEX), taking its total holding to 55% gross, with 49.5% net to Corcel and at no cost. KON-16 covers 1,022 km2 […]
Corcel chairman to step down
Corcel plc non-executive chairman Antoine Karam is to leave the post as part of further changes at the company. His interim replacement will be independent non-executive director Andrew Fairclough. Interim chief executive Scott Gilbert has assumed a permanent role and will join the board as an executive director on completion of regulatory checks. Non-executive director Deepak […]
Corcel targets ‘pipeline’ of Brazil assets
Corcel plc has agreed a collaboration to identify, evaluate and acquire “a pipeline” of producing onshore oil and gas fields in Brazil. ADVANTAGE New partner Conterp Serviços Técnicos Ltda will contribute its local market knowledge and relationships, access to technology, services, equipment and expertise of asset management of onshore Brazil oil and gas fields. Corcel will […]
Corcel agrees up to potential £10m unsecured CLNs
Corcel plc has agreed an unsecured convertible loan notes for up to a potential £10 million over three years for its oil and gas interests in Angola and Brazil and “operations elsewhere”. ACCELERATE Investment company Extraction Srl, whose chairman is a major shareholder in Corcel, will lend £1m this month, £1m in January 2024 with a […]
Corcel at advanced stage of Brazil mining-oil-gas deals
Corcel plc plans to extend its natural resource exploration and development reach to South America with a focus on Brazil, as part of its revised business strategy. MULTIPLE DEALS The company said it had been “actively screening industrial opportunities” for more than 12 months and was at an “advanced stage on multiple transactions across both mining and […]