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, onshore Angola. DATA Operator Sonangol has now completed initial well test efforts at the well while engineering work continues. Nitrogen shortages in Luanda have prompted Sonangol to move to test TO-13, […]
Tag: Corcel plc
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 […]
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 […]
Corcel’s earn-in partner exits Mt Weld
Corcel plc said its partner in the Mt. Weld rare earth element project has withdrawn from the earn-in agreement. CONTROL Riversgold Ltd, which could have spent A$500,000 to earn a 50% stake, made its decision as part of “a much larger tenement rationalisation process.” In December 2022, Corcel acquired the 171ha licence, situated near Laverton […]
Corcel results indicate Canegrass potential
Corcel plc said initial rock chip sampling results indicated a wider potential for its Canegrass lithium project in Western Australia. INTRIGUING The company owns and holds the rights over three tenements where exploration began with rock chip sampling in November 2023. Analysis of a total of 37 rock chip samples collected returned lithium-cesium-tantalum (LCT) pegmatite […]
Corcel issues 100m shares via warrant exercise
Corcel plc issued 100 million new ordinary shares of £0.0001 each following notice of the exercise of 100m warrants each at a price of £0.0021 for £210,000. Following admission, the company‘s issued share capital will comprise 1,874,794,153 ordinary shares, with equal voting rights. None of the shares are held in treasury.