Finance News Oil & Gas

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 […]

Equipment & Logistics Metals & Minerals News

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 […]

Company Moves News Oil & Gas

Corcel to acquire new data on Angola blocks

Corcel plc has received approval to acquire new geological and geophysical data on its three onshore Angola blocks. FOCUS KON-11 and KON-12, considered brownfield redevelopment with historic production from the Tobias and Galinda fields, and operated KON-16 will be subject of an enhanced full tensor gradiometry survey (eFTG). The programme follows “inconclusive results” at the end […]

News Oil & Gas

Corcel partner halts TO-13 drill on ‘minimal oil’

Corcel plc said that initial drilling and testing had been suspended of its onshore TO-13 well in Angola following “inconclusive results”. POTENTIAL “After several weeks of well testing and engineering efforts the well has produced minimal levels of water and oil to date,” added the company. Operator Sonangol will turn its focus to geological and geophysical […]

News Oil & Gas

Corcel finds ‘significant’ water from TO-14 clean-up

Corcel plc found “significant” water production with oil shows and nominal oil saturation levels from clean-up operations using nitrogen at the TO-14 well within the Tobias field, onshore Angola.   DATA Partner and operator Sonangol has now completed initial well test efforts at the well while engineering work continues. Nitrogen shortages in Luanda have prompted […]