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 […]
Tag: Kwanza basin – onshore Angola
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 […]
Corcel notes start of preparations for Angola drilling
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 […]
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 […]
Corcel to appoint vendors of Kwanza assets to the board
Corcel plc has appointed Scott Gilbert to the board as a non-executive, subject to regulatory checks. Mr Gilbert is one of the vendors of the Kwanza Basin assets in Angola acquired this week by the company. He has a long track record in the oil and gas sector with significant experience in Angola and Brazil. […]
Corcel acquires first oil and gas project
Corcel plc has acquired its first oil and gas asset with 90% ownership of Atlas Petroleum Exploration Worldwide Ltd (Apex) in the Kwanza basin, onshore Angola. ASSETS The acquisition also sees executive chairman James Parsons return to familiar commodities, having started his career in oil and gas with Royal Dutch Shell in Brazil. Apex, with headquarters […]