Corcel plc said testing had started on the Tobias-14 (TO-14) well on block KON-11, onshore Angola. Operator Sonangol faced delays due to longer than expected wait for deliveries of testing equipment, combined with heavy rains and regional flooding at the well location. Once testing is complete, the equipment will be moved to flow test TO-13 […]
Tag: Corcel plc
Corcel awards 3m share options to directors-executives
Corcel plc has granted a total 307,033,155 five-year share options to directors and key executives. An aggregate 15,745,290 options fall under the company’s existing enterprise management scheme. Each option entitles the holder upon exercise to one ordinary share of £0.0001 of the company. One third of the options issued will vest in December of each […]
Corcel receives £17,500 via warrant exercise
Corcel plc received £17,500 following notice to exercise warrants for 5 million new ordinary shares of £0.0001, at a price of £0.0035 per share. Following admission, the company’s issued ordinary share capital will comprise 1,675,876,345 ordinary shares each with equal voting rights. Corcel holds no ordinary shares in treasury.
Corcel converts £250,000 CLNs into 32m shares
Corcel plc received notice to convert £250,000 of its outstanding convertible loan notes and associated interest into 32,061,643 new ordinary shares of the company at a price of £0.008. The notice from Extractions Premium & Mining Ltd, of which Corcel executive chairman Antoine Karam owns 45%, leaves the principal balance of the CLNs at £750,000. Following […]
Corcel receives £82,500 via warrant exercise
Corcel plc received £82,500 following notices of 39,285,714 warrants exercised at a price of £0.0021 per share. The company has issued 39,285,714 new ordinary shares of £0.0001 each. Following admission, Corcel’s issued ordinary share capital will comprise 1,638,814,702 ordinary shares, each with one voting right and none held in treasury.
Tobias-14 penetrates entire Binga reservoir
Corcel plc’s second well in Angola has penetrated the entire Binga reservoir section, of an approximately 80-metre column, with potential pay zones in multiple intervals. MOVEABLE FLUIDS Operator Sonangol drilled Tobias-14 to a total depth of 781m and close to TO-4, as an offset well from the “best historic producer” in the original Tobias field. […]