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 […]
Tag: Corcel plc
Corcel signs option for IRAI gas field
Corcel plc has marked its first onshore Brazilian acquisition with a binding option for a 20% interest in the IRAI gas field in Bahia, with first right of refusal on the remaining 80%. ABUNDANT The agreement with Petroborn Óleo e Gás S.A. also includes a further first right of refusal for 100% of the adjacent […]
Corcel appoints new chairman and COO
Corcel plc has appointed current independent non-executive director Pradeep Kabra as chairman. He replaces interim postholder Andrew Fairclough who will continue as independent non-executive director on the board and chair of the audit committee. Both first became Corcel directors in December 2023. “I want to express my gratitude to Andrew for his leadership and guidance […]
Corcel NED resigns
Corcel plc non-executive director and former chairman Antoine Karam has resigned with immediate effect. Interim non-executive chairman Andrew Fairclough said: “On behalf of the board, I would like to offer thanks to Antoine for all that he has done for the company, having led the change in strategic direction last year and for supporting it both […]
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 completes KON-16 survey data acquisition
Corcel plc has competed acquisition of survey data on block KON-16 in the Kwanza Basin, onshore Angola. PROSPECTIVITY Metatek Group began operations for the enhanced full tensor gradiometry survey (eFTG) in June. Following processing and interpretation of the data during Q4, the company will ascertain how to develop the prospectivity of the 1,000km2 block. The data […]