Corcel plc’s consortium partner has spud the Tobias 14 well on the onshore KNON-11 block in the Kwanza basin, onshore Angola. PRODUCTION TO-14 follows drilling of TO-13 which earlier this month encountered “potentially productive zones in multiple intervals” throughout the Binga reservoir. A well testing programme for both wells will begin after operator Sonangol reaches total […]
Tag: Corcel plc
Tobias-13 shows potentially ‘significant’ productive zones
The Tobias-13 well has encountered “several potentially productive zones in multiple intervals” in the Kwanza basin, Angola. BINGA RESERVOIR Corcel plc’s joint venture and operator Sonangol (80%) drilled at a downdip location from historic production to the planned depth of 958.5 metres, penetrating the entire Binga reservoir section of a circa 120m column. Results indicate […]
Corcel offered $4.1m for Mambare
Corcel plc has received a revised conditional offer of $4.1 million for its 41% interest in the Mambare nickel-cobalt project in Papua New Guinea. EXIT Part of the payment from Integrated Battery Metals (IBM) can be either in cash or IBM shares at Corcel’s discretion. In March 2023, Corcel restructured its PNG assets by signing a […]
Corcel converts £100,000 loan notes into 25m shares
Corcel plc has received notice to convert £100,000 of outstanding loan notes into 25,000,000 new ordinary shares each at a price of £0.004. The loan notes are from the company’s lenders YA II PN Ltd and Riverfort Global Opportunities PCC Ltd. Following the issue of the shares Corcel’s issued ordinary share capital will comprise 1,499,528,988 […]
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 […]
Tobias-13 well spuds in brownfield block KON-11
Corcel plc’s partner yesterday began drilling the Tobias-13 oil well in block KON-11 in the Kwanza basin, onshore Angola. DATA Subject to the first well’s results, the workplan for KON-11 includes one or more new wells with the main aim of early production. On positive drilling results, the geological and geophysical data will be […]