Corcel Share Discussion Threads

[dicko80] 28/12/2023 07:33

Indeed , that's quite a result

12,000 bopd for 8m and now we have full binga reservoir 80m

Huge for little corcel

[mark10101] 28/12/2023 07:31

What an RNS, Move to the new thread now guys, this one is history.

[smackeraim] 28/12/2023 07:26

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. We penetrated 80!

[smackeraim] 28/12/2023 07:26

brilliant.. we are on the new thread .. good luck everyone.. Colin is a beast

[dicko80] 28/12/2023 07:24

The TO-14 well found no presence of water during drilling, despite the fact that the offset TO-4 well had been reported to have watered out by the end of its production life, further indicating that the field has fully re-equilibrated.

[dicko80] 28/12/2023 07:17

Tobias-14 Initial Results

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.

Wowzers

[dafad] 28/12/2023 07:10

Rns out!

Highlights:

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 testing."

[smackeraim] 28/12/2023 07:10

Colin is gushing! Great Rns

[z1co] 27/12/2023 14:39

Mark you're most welcome.

[mark10101] 27/12/2023 14:02

Z1CO, thank you for setting up the new thread, interesting times ahead, if CRCL deliver on the potential there will be plenty of people stepping off along the way on what will hopefully be a story that catches AIMs imagination.

[kemche] 27/12/2023 13:42

The only reason I held on for so long was because of your research, analysis, and your searing insight. As well as Pharmacal's realistic SOTP.

[kemche] 27/12/2023 13:39

Mark, If you continue being horrible then I will seriously have to reconsider repurchasing my shares.

Wobble.

You were always one of the wise ones. Bamba too.

[mark10101] 27/12/2023 13:19

Wibble wibble, why not waste more of your life wibbling away on a stock you don’t own and never will own. It has been fascinating watching how wasteful some individuals are of their precious time on this earth. Wibble wibble.

[z1co] 27/12/2023 12:54

It seems a tad strange that kemche is saying his goodbyes on the other thread before the wells have been flow tested.

The share price will whossshh way past 1p upon successful testing.

[kemche] 27/12/2023 12:43

It is with a heavy heart and much reluctance that I have finally decided to relinquish my holdings here which I had collected for a number of years. With the departure of the last of the heavyweight BODs of prior years, the illustrious names of Bell, Parsons and Kaintz - the "enrichers" - is no more. I do not know the pedigree of the current BOD and what their MO is and therefore will be taking a keen interest to see whether they too can deliver as much value as the previous BOD - they have tough comparators to measure up against that much is certain.

In my time I have seen some great investors come and go, all of them successfully.

To those that remain I wish you good fortune.

But I shall be keeping a close eye on the progress here as it is a share close to my heart.

[dicko80] 27/12/2023 08:59

My Report on the AGM
There were only three PIs at the meeting.

From the company, AK, Ewen Ainsworth, SK, Amanda (Bateman?) the Company Secretary and a couple of others.

As I was expecting imminent news on the new directors, I asked when we would be told who the new directors were. SK said the company couldn’t answer the question as those in the room would know in advance of the market and that would be illegal.

And before I had arrived home in West London, an RNS was released answering my question. Premonition?

After the formal business of the AGM was completed, I chatted to AK. I asked whether he had plans to do a shareholders’ presentation and/or meeting and promoting the company to a wider audience. His reply was very emphatic saying that it might be online as arranging F2f would be difficult and expensive for the company and for shareholders travelling to (presumably) London.

He was also very emphatic and quite excited about there being a lot of good news releases during Q1 of 2024. He has a very clear vision and focus on what he wants to achieve and, I think, he is in a great hurry to do so.

I congratulated him on what he had achieved in just nine months and was very quickly corrected by him saying SIX months!

This is only my own opinion, which may be wrong and a little over optimistic, but I think the target of 2p per share is going to come a little sooner that we think.

Of all the CEOs/Chmen of companies I’ve invested in over 25 years, my impression of AK is by far the most positive.

‘Nuff said. Don’t want to be accused of irresponsible ramping.

Post from Sav over on Lse

[dicko80] 27/12/2023 08:35

Volume picking up...Breaking out on the chart

[dicko80] 27/12/2023 08:20

Day 44

40 /50day drill

[dicko80] 27/12/2023 07:36

Sonangol

Aiming to become a leading operator in Angola, Sonangol announced last September the launch of drilling and appraisal preparations on Block KON11 in the onshore Kwanza Basin. The block is home to the historic Tobias field, a brownfield development. As a result, Sonangol anticipates early oil production upon drilling success and is implementing a strategy involving modern drilling technologies – possibly including horizontal drilling – aiming to maximize the original oil in place in the dormant field.

[dicko80] 27/12/2023 07:23

Looks like a good experienced team

[z1co] 26/12/2023 18:40

News issued after the close on Friday:

Board Changes

22 December 2023

Corcel Plc, (London AIM: CRCL), the Angolan focused exploration and production company, is delighted to announce the appointment of Ms Geraldine Geraldo, Mr Pradeep Kabra and Mr Andrew Fairclough to its Board of Directors, and the future appointment of Ms Jennifer Ayers and Mr Deepak Kabra, following completion of regulatory checks, thereby complementing and completing its pivot to oil and gas and its dedication to the current and future development of its Angolan onshore oil portfolio.

Corcel Executive Chairman, Antoine Karam, commented: " Following several months of restructuring efforts, I am very pleased to announce the full revised Board of Directors of Corcel Plc. We thank Geraldine, Pradeep and Andrew who will be formally joining immediately, and we look forward to completing the required due diligence process with Jennifer and Deepak in the near term. Once completed, we believe this revised Board will have the deep executive and oil and gas technical and advisory experience required to drive Corcel to its next level of development, building on the work we have already done to reshape the portfolio and commence our operations in Angola. The Company plans a series of investor events during the course of 2024 offering the chance to engage with the new Board directly.

We also thank Ewen Ainsworth for his multiple years of service at Corcel, his having joined during a historically challenging time for the Company, and now departing with the business in fundamentally excellent shape with bright prospects.

We look forward to announcing the completion of the final board additions in due course and to announcing further advancements at our operations in Angola."

Board Changes:

Further to the announcement of 13 June 2023, the Company is pleased to announce multiple changes to the Corcel Board of Directors.

Further to the announcement of 13 June 2023, Ms Geraldine Geraldo, the Company's MD Angola and Chief Commercial Officer, joins the Board with immediate effect as an Executive Director. Ms. Geraldo brings with her a legal and business development background, with over 15 years of experience in the oil and gas sector. Ms. Geraldo has held multiple positions with Chevron in the USA and in Angola, and is also an entrepreneur and the founder of multiple businesses.

Mr. Pradeep Kabra, joins the Company with immediate effect as a Non-Executive Director. Mr. Kabra brings over 35 years of oil and gas experience in nearly all facets of the upstream oil and gas sector. Mr. Kabra currently serves as the MD of Ojas Consulting SA, based in Geneva, providing oil and gas technical, strategic, financial and investment banking services across Asia, Africa and the Middle East. Previously he was the CEO and Director of ShaMaran Petroleum Corporation, listed on the Nasdaq and several other markets, which conducted oil exploration and development helping open up the Kurdistan region of Iraq. Prior to this he held various positions in the industry with Addax Petroleum, Petro Canada and Lundin Oil.

Mr. Andrew Fairclough, joins the Company with immediate effect as an Independent Non-Executive Director. Mr. Fairclough brings over 28 years of finance and oil and gas experience, including most recently being the CFO of Serinus Energy plc, an AIM and WSE listed oil and gas production company with assets in Tunisia and Romania and prior to that CFO of Whalsay Energy Limited, a UKCS oil and gas appraisal and development company. Prior to this Mr. Fairclough was an investment banker with extensive experience in M&A and capital markets, predominantly at Flemings, Rothschild and Merrill Lynch.

Subject to completion of regulatory checks, Ms. Jennifer Ayers, the Company's Chief Technical Officer, will join the board in due course. Ms. Ayers has over 25 years of experience in the oil and gas sector, having trained as a geologist, and then held senior positions at CNOOC, Chevron and TotalEnergies, having also spent time at Netherland, Sewell & Associates focusing on audit reserve bookings. Ms. Ayers will join the Board as the Chief Technical Officer, and currently serves as a consultant until due diligence is completed.

Subject to completion of regulatory checks, Mr. Deepak Kohli, a Non-Executive Director, will join the Board in due course as a Non-Executive. Mr. Kohli is the CEO of Faber Capital, based in Dubai, which is active in M&A advisory, capital restructuring, capital raising and asset management in the oil and gas and other sectors. Prior to this Mr. Kohli served as the Global Head of Debt Capital Markets at Standard Chartered Bank. He brings deep experience in corporate finance and capital markets, and a background in audit and accounting.

As previously announced, Mr. Ainsworth, a Non-Executive Director, will step down from the Board with immediate effect. Mr. Scott Gilbert, a vendor of the APEX transaction, will no longer be joining the Board, and instead will become a consultant to the Company, in order to focus on full time opportunities in the oil and gas sector.

The Board of the Company will therefore, upon completion of all regulatory checks, consist of Mr. Karam (Executive Chairman), Ms. Geraldo (Chief Commercial Offer and MD Angola), Ms. Ayers (Chief Technical Officer), and Mr. Kohil, Mr. Kabra and Mr. Zhao (Non-Executive Directors), and Mr. Fairclough (Independent Non-Executive Director).

[thenorseman2] 24/12/2023 11:03

Ho ronson. You just download the Telegram app, add your details and when up and running you search for corcel plc

[ronson333] 24/12/2023 08:49

Anyone got a link to the telegram group?