Corcel plc said preparations had started for drilling and appraisal at its recently acquired oil interest KON-11 in the Kwanza basin, onshore Angola. TOBIAS FIELD In May, the company acquired a 20% working interest 18% net to Corcel the non-operated block which holds 12 historical wells. The operator is Angolan national oil company, Sonangol. KON-11 is […]
Tag: Corcel plc
Corcel CEO James Parsons steps down
Corcel plc chief executive officer and director James Parsons will step down as part of the company’s planned transition from metals and minerals to oil and gas. Mr Parsons, who became CEO on 14 June when he received 12.4 million shares in part payment of wages, remains with the company in an advisory role during his […]
Corcel’s new CEO to receive 12.4m shares as part salary
Corcel plc’s new chief executive officer James Parsons has chosen to receive part of his salary for the next six months in new ordinary shares in the company. A total of 12,447,965 new ordinary shares were today issued to Mr Parsons at £0.004 per share, being a 29% premium to the closing price on 13 […]
Corcel passes halfway of 2,000m Mt Weld drill
Corcel plc has passed the halfway mark of its planned 2,000 metre reverse circulation (RC) drill programme at the Mt Weld rare earth elements joint venture near Laverton, Western Australia. RESULTS The tenement, predominantly covered by recent transported sediments, holds four discrete undrilled magnetic features labelled T1 to T4. Operator and earn-in partner Riversgold Ltd has to […]
Corcel sells Wowo Gap and disputes Mambare buyout
Corcel plc has sold 100% of its Wowo Gap nickel-cobalt asset and will dispute the buyout of its 41% share in the Mambare nickel-cobalt project, both in Papua New Guinea. MAMBARE In March, Corcel restructured its PNG assets by signing a 50-50 joint venture (JV) deal with Integrated Energy Metals (IEM) to create a new carried vehicle […]
Corcel completes Kwanza oil and gas acquisition
Corcel plc completed the acquisition of its 90% interest in Atlas Petroleum Exploration Worldwide Ltd with assets in the Kwanza basin, onshore Angola. CONTRACTS The company last week signed the risk service contracts for blocks KON-11, KON-12 and KON-16 and other conditions precedent are also satisfied. The issue of shares for the transaction, announced in May […]