Finance News Oil & Gas

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 […]

Equipment & Logistics News Oil & Gas

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 […]

Equipment & Logistics News Oil & Gas

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 […]

Finance News Oil & Gas

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 […]