Corcel plc has to date received £399,750 cash of April’s £1.3m fundraise. The company will issue 79,950,000 of tranche I shares, including 39,975,000 shares to director Geraldine Geraldo. The company will also issue 79,950,000 warrants. Corcel expects the balance of the tranche I funds of £400,000 and the tranche II funds of £500,000 in due course. […]
Tag: Corcel plc
Corcel appoints Scott Gilbert as interim CEO
Corcel plc has appointed Scott Gilbert as interim chief executive with immediate effect and, subject to customary regulatory checks, to the board as an executive director. Mr Gilbert is a co-founder and vendor of Atlas Petroleum Exploration Worldwide Ltd with interests in blocks acquired by Corcel in the Kwanza Basin, Angola. He has since December […]
Put option exercised over 99m Corcel shares
Corcel plc said that the put option agreement over 99m shares of the company, representing 4.87% of the ordinary shares currently in issue, has been exercised with Extractions Premium & Mining Ltd (EXT). EXT, which currently holding 21.26% of Corcel, will also acquire an additional 100m new ordinary shares of Corcel following a forthcoming general meeting […]
Corcel shareholder cancels 99m share call option
Corcel plc’s shareholder Extractions Premium & Mining Ltd has entered a put option agreement with Richard Jennings and cancelled the call option from February 2024. Under the terms of the agreement, Mr Jennings has the right from 16 April 2024 until 1 September 2024, to sell up to 99 million ordinary Corcel shares to EXT. The […]
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 […]
Corcel raises £1.3m via premium placing
Corcel plc has raised £1,299,750 via a 37% premium placing, including an investment from one of its directors, cornerstone shareholder Extraction Srl and other institutional investors. USES The company issued 259,950,000 new ordinary shares of £0.0001 at a price of £0.005 per share with one-for-one warrants at £0.01 per share, valid for 24 months. Extraction […]