Corcel Share Discussion Threads

[dead duck resources] 28/11/2023 14:22

Ignore the derampers like Angola's Economy Minister, fossil fuels are bang on trend.

"The energy transition makes it even more urgent to diversify the economy." Economy Minister Mário Joao has launched programs to do just this. His goal is for 80 to 85%
of Angola's energy supply to come from renewable sources in the medium term. "It's a question of survival, because oil is coming to an end", says economist Carlos Rosado
de Carvalho, adding the country's known oil reserves won't yield much after 2035."

[z1co] 28/11/2023 12:49

These Colins will definitely flow

If they even a flow a minimum of 1500 bopd we are entitled 270 bopd net at 18%.
That's 540 bopd from the 2 Colin wells generating a revenue of over $15m/year.

With the modern drilling techniques they will flow a lot more than 1500 bopd.

In meantime i continue to buy at sub 0.5p

[kemche] 28/11/2023 11:58

Classic treeshake to let Leni and Pharmacal in on the cheap.

Colins gushing like there is no tomorrow.

[dead duck resources] 28/11/2023 11:55

Now the general meeting is out of the way with Mambare exit approved by shareholders the Aussie JV partner can once again exercise its rights to snub the deal. Meanwhile the price is falling on spud fears, with the field only having a 1 in 2 success rate.

[helpfull] 26/11/2023 09:53

I see what you mean about chickens and eggs.

I got carried away last night and ordered a rampant black horse on the internet.

Now I've to find it some stables before it arrives.

Be careful.

[kemche] 25/11/2023 19:20

I already have my chickens. Now for the eggs.

[kemche] 25/11/2023 19:18

Be carsful.

I like it!

[helpfull] 25/11/2023 18:53

No. I'm not greedy.

One Ferrari.

Be carsful.

[z1co] 25/11/2023 16:25

Helpful

Do you mean one Ferrari for each well ?

And i'm being very careful in what i post.

[z1co] 25/11/2023 16:22

CRCL has a very small mkt cap so even if these Colins flow at only 1500 bopd we are entitled 270 bopd net at 18%.

That's 540 bopd from the 2 Colin wells generating a revenue of over $15m/year.

So it's a WIN WIN for the company and it's shareholders.

And if these Colins flow more than 1500 bopd then it's all the merrier.

Even at 1500 bopd the shares will whoosssssssssssssh past the 2p

:)

[helpfull] 25/11/2023 16:17

"That was nearly 30 years ago"

Well, it is a vintage Ferrari for me then.

Be carsful.

[lexion] 25/11/2023 15:50

You lot on here are as mad as a box of frogs - guess range from 30 to 100000 bopd - wow - I need say no more

[z1co] 25/11/2023 15:35

DDR

That was nearly 30 years ago Sonangol will drill these Colin wells with modern drilling techniques which were not available to Petrofina Energy back in 80's and the drill location is at a downdip location from a previous historic well.

There is still a huge amount oil in this field and the operator will not be drilling unless it was worthwhile.

These Colins will flow at over 5000 bopd.

I have shares in a company that's producing 248 bopd in Austin chalk Texas and that's being flowed so much due to modern drilling techniques prior to this these wells were only producing 15 to 20 bopd.

As i have posted above you're posts are bearish because you have NOT yet bought the shares , once you BUY the shares your posts will no doubt be become bullish.

[kemche] 25/11/2023 14:59

Helpfull knows!

[helpfull] 25/11/2023 14:48

5,000-20,000 bopd would suit me fine.

How much is that at $80 per barrel?

I'll tell you how much.

Ferrari much for me.

Kerching, kerching.

Be careful.

[kemche] 25/11/2023 14:44

Lexion - at CRCL everyday is April 1st.

[lexion] 25/11/2023 14:33

I thought it was Nov 25 th today not April Fools Day ??

[kemche] 25/11/2023 14:32

Under Sonangol the wells will not deplete sharply. They have instructed both Colins to behave themselves and only increase production sharply.

[dead duck resources] 25/11/2023 13:42

400 net to Corcel or 2,222 bopd total (never mind 5,555 best case) exceeds the field's initial production so I'm afraid that food for thought is unfit for public consumption.

If they test 80 bopd in 60 mins at full valve then do a dodgy extrapolation to a daily rate, maybe they can hit your 2k to use for the promote. But if you mean likely output for the year to CRCL, 30-40 bopd imo. It's a second go-around of these dribbly fields.


KON 11: the initial production was 1800 bopd but the field had a sharp decline rate.

KON 12: the Galinda field had 21MBO (OOIP) but less than 10% was recovered from the
Ga-2 & Ga-4 wells. After initial production of 2680 bopd the decline rate was sharp.

[z1co] 25/11/2023 13:20

With Sonangol being operator,the largest hydrocarbon producer in Angola they would NOT be drilling these wells for only a few 1000's bopd.

Probably 5,000 to 10,000 bopd is what they are expecting.

Like iv'e already posted we don't have to wait that long to find out.

These Colin wells will be all gussssssssssssshers.

[z1co] 25/11/2023 13:13

Working on your conservative estimates of just 400 bopd net each for TO-13 and TO-14 so 800 bopd net for these two wells

Price oil @ $76 that will generate a revenue of more than $1.8m per month or $22m/yr.

That amount of revenue would be very significant for this tiddler and will increase substantially as more wells are drilled by Sonangol.

Very exciting times for holders and for this little company.

[lexion] 25/11/2023 13:06

@Kemche I cannot believe you're seriously thinking net to Corcel could be 20k bopd from first well ??

[kemche] 25/11/2023 12:58

Your figures are on the low side by a minimum factor of 50 if I may say so.