Metals & Minerals News Oil & Gas

Corcel targets first oil and listing

Corcel plc said it was on the verge of a material transformation to become “a sizeable, listed oil and gas developer”. OPERATOR During H2 2023, the company refocused on hydrocarbons in the Kwanza Basin, Angola and is considering further transactions in the region and overseas. The six months also saw a new board of directors […]

Equipment & Logistics News Oil & Gas

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. […]

Equipment & Logistics News Oil & Gas

Corcel JV spuds Tobias-14 in Kwanza

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 […]

Equipment & Logistics News Oil & Gas

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 […]

Finance Metals & Minerals News Oil & Gas

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 […]