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CRCL Corcel Plc

0.00 (0.00%)
19 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Corcel Plc CRCL London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.00% 0.325 08:00:54
Open Price Low Price High Price Close Price Previous Close
0.35 0.325 0.35 0.325 0.325
more quote information »
Industry Sector

Corcel CRCL Dividends History

No dividends issued between 21 Apr 2014 and 21 Apr 2024

Top Dividend Posts

Top Posts
Posted at 03/4/2024 20:08 by dead duck resources
smackeraim, it's notable you didn't disagree with beat me and rightly so. With such
selling going on, CRCL market makers have a clear and demonstrable need for gerbils.

Shocking expenditure from the interims;
-£243,000 accounting/legal/other
-£288,000 office admin & travel
-£355,000 funding/marketing
-£500,000 payroll
=£1.4 Million total admin and that's only for half the year

-£2 Million spent on the Angola duster on just 20% interest

c.£60k cash going into Dec 31st then warrants exercised Dec 28th added another £80k
-£0.6M net creditors...
-£1.3M debt (offset for conversions after period end)
Posted at 28/3/2024 10:43 by kemche
This guy knows his stuff:

Harry - AIM 📈
#CRCL overreaction to yesterday’s news? The oil game

Posted at 02/3/2024 18:30 by highly geared
I’d like to think 1.5p-3p share price for CRCL depending on combined TO13/14 flow rates.
Posted at 02/3/2024 13:29 by highly geared
Reckon about 2 weeks for TO14 test results then TO13 by mid April. The next 6 weeks may be transformational.

Lots of hypothetical valuation scenarios and considering historical results. I’m quietly confident of a 2000-4000BOPD net to CRCL range.

Reading across to another oiler AXL, their market cap is £65m and at around 4000BOPD so multiple upside here if we come in at the top end and hopefully 2x even at the lower end . A more direct comparison is AET, market cap £85m for c. 7000BOPD net allocation. The valuation will likely increase when their Azule transaction closes. That’s c. £14m for every thousand BOPD. Debt to consider but gives a steer around what good testing results will do for the share price.
Posted at 01/3/2024 07:47 by talais
Good morning,New here, what would be a realistic flow rate from theses wells to put this company in a positive cash position, With a 20% interest if we get near a low rate around 400 bopd to crcl that's only 1000bopd from each well, would be a nice income, I know that theses wells have historically been near 10,000 bopd,Anywhere near that and it will be very interesting,
Posted at 20/2/2024 11:35 by smackeraim
Just remember.. old operator penetrated 8 metres. CRCL went in 80m ?"The TO-14 well penetrated the entire Binga reservoir section (80m column) with potential pay zones seen in multiple intervals. TO-14, with a total depth of 781m, was drilled in close proximity to TO-4 as an offset well from the best historic producer in the original Tobias field; a well which produced at its historic peak 12,580 bbls/d despite only penetrating the first 8m of the reservoir."
Posted at 12/2/2024 08:48 by dafad
You are incorrect-they did not lie,this is what they said

Corcel Share News - CRCL
Current Price

0.00 0.00%
Bid Price Offer Price
0.90 1.00
High Price Low Price Open Price
0.95 0.95 0.95
Shares Traded Last Trade Market Cap
193,068 08:00:00 15.2M
Corcel PLC Oil Well Tobias-14 Drilling Results (9824X)
Intraday Corcel Chart

28/12/2023 7:00am
UK Regulatory (RNS & others)


RNS Number : 9824X

Corcel PLC

28 December 2023

Corcel PLC

("Corcel" or the "Company")

Oil Well Tobias-14 Drilling Results

Block KON-11 - Angola

28 December 2023

Further to the announcement of 03 November 2023 , Corcel Plc (London AIM: CRCL) is pleased to provide an update on the drilling results of the Tobias-14 ("TO-14") well in the onshore Block KON-11, in Angola where it has a 20% working interest (18% net) . The Operator is Sonangol, one of the largest national hydrocarbon producers in Angola.


o TO-14 well - located at the top of an anticlinal structure and an offset well from the largest historic producer in the field, has reached planned target depth of 781m

o Full Binga reservoir section (80m) encountered in the well with identical zones encountered as in previous TO-13 well and oil shows throughout

o The Operator and CRCL believe the results confirm the ability to reactivate production through an early production system ("EPS") and imply significant hydrocarbon potential remaining

o Well clean-up and flow testing now begins on TO-14

Antoine Karam, Executive Chairman of Corcel, commented: "The encouraging results of the TO-14 well constitute a significant milestone toward development of an EPS and providing line of sight to near-term revenue generation for Corcel.

At a macro level, we've confirmed that the same formations are contiguous between both wells, and data indicate that these zones contain movable oil throughout the reservoir. Given the historically wide well spacing of the field, there appears to remain substantial areas both undrained and now potentially re-charged since the original field was shuttered.

The next steps will focus on the testing of the TO-14 well so we can determine formation pressures and ultimately flowrates, and we look forward to further announcements as Sonangol, the operator, moves to well testin
Posted at 18/1/2024 18:34 by z1co
For the company to achieve a £50m plus market it needs the flow rates to be in excess of 5,000 bopd.

Not forgetting CRCL has 20% ( 18% net )working interest.

Market cap at closing price is already £20m so 3,000 or 540 bopd net to CRCL will NOT take the share price any higher.

In fact sellers will be all over this.

I'm hoping for at least 10,000 bopd from TO-14.
Posted at 22/11/2023 20:25 by dead duck resources
General Meeting Notice - Highlights

Assuming no further shares issuance in IBM and full take-up of new shares in IBM as
per the above, this would result in CRCL holding 33.15% in the share capital of IBM.
It is the current intention that any shares received in IBM will be retained by the Company in order to recognise value from the project in the long-term.
The effect of the disposal will be to advance CRCL's transition to oil & gas, while offering shareholders residual exposure to the project via a potential stake in IBM.

- Sounds like we'll be getting IBM shares instead of cash, well done CRCL directors!

Extraction may nominate any third party to be the holder of Loan Notes issued to it.
- Yorkville or Riverfort anybody? Another home run by the directors!
Posted at 02/11/2023 15:58 by smackeraim
Here's the details from May Rns when Apex interest was acquired. Good luck kemche, may the force be with you. :-) Here's the RNS from May when we acquired these blocks from APEX APEX Portfolio Overview: The APEX portfolio is located onshore Angola, and consists of interests in three licences: o KON - 11 Non-Operated - 12 historical wells (20% working interest - 18% net to CRCL) o KON - 12 Non-Operated - 8 historical wells (25% working interest - 22.5% net to CRCL) o KON - 16 Operated - 1 historical well (35% working interest - 31.5% net to CRCL) KON-11 and KON-12 are considered brownfield development opportunities and include the historically producing Tobias and Galinda fields, both drilled and developed in the 1960s and 1970s by Petrofina, with combined historic production over 30 MMbbls. Both licences are operated by Sonangol (the Angolan national oil company). APEX's total reported unproduced contingent oil resources are estimated at: o KON-11 - 65 MMbbls, 11.7 MMbls net to CRCL o KON-12 - 19 MMbbls, 4.28 MMbls net to CRCL All three blocks have significant post and pre-salt prospective resources, both stratigraphic and structural with APEX estimating Prospective Resources of: o Post-salt 456 MMbbls - unrisked P50 (138 MMbo risked), 81.1 MMbls net to CRCL o Pre-salt 1,029 MMbbls - unrisked P50 (223 MMbo risked), 215.9 MMbls net to CRCL Both the Tobias (KON-11) and Galinda (KON-12) fields were discovered and originally developed in the 1960s. Both reservoirs are in the Binga limestone with 4-14% porosity and located at 700m and 1,900m respectively. Peak production at Tobias was approximately 17,500 bbls/d and at Galinda was approximately 2,700 bbls/d. Historic total production, which started in 1960 and ceased in the early '80s, was 29MMbbls and 2.8MMbbls respectively. APEX and Corcel believe that significant recoverable volumes of oil remain in place at both locations and initial plans may include additional seismic work to firm up drill locations, as well as a combination of vertical and horizontal wells. The development plan envisioned for KON-11/12/16 qualify for marginal field fiscal terms, as outlined by the Angolan government, resulting in advantageous royalty, tax and depreciation regimes.

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