Corcel Share Discussion Threads

[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?

[richie666] 22/12/2023 11:01

Nah. Never to Kemche. Only the wonderful concept of karma to that abhorrent coward.

[smackeraim] 22/12/2023 10:42

Hopefully a great 2024 coming if everything goes to plan here. All the best for the holidays everyone, even to kemche

[dicko80] 22/12/2023 08:22

Limited online buy limits and full ask only for even small amounts

[dicko80] 22/12/2023 08:06

Online buy limit

Just 50k at 0.57p

Fill or kill orders above

[dicko80] 22/12/2023 07:08

Once T14 is completed and both wells T13 & 14 are flow tested , all the data , oil columns , net pay, porosity, flow data, will be used to calculate oil in place and recoverable , so once all is complete we will have a better idea

But as it stands although they've mentioned horizontal drilling there's been limited info , so we are buying in to £9m mkt cap where we are currently priced just on the tobias field at around £0.74 per bbl, as I mentioned in the ground value generally viewed at $3 perbbl , so 200% from here just to this level

Discovery $6 per bbl , so 400% to these levels

On confirmed oil flows $10 per bbl , 1000% from here

Then it's about getting into production

As we are onshore costs will be low, likely to be around $35/40 per bbl resulting in $40 / $45 payback per bbl

Horizontal drilling has been mentioned in RNS updates, and this is key to quickly ramping up production accessing more of the reservoir, info and potential productions are limited but 5k bopd netto corcel for year 1 and double this year 2 has been rumoured

5,000 x $40 x 365 = $73m net cash flow

10,000 x $40 x 365 = $146m net cash flow

Mktcap £9m

That's before we look at galinda in the same block as tobias or the salt leads in the same block or the exciting KON 16 where we have 300mmbbls net prospective resources to hunt or Lithium, REM

[tigin] 21/12/2023 20:04

Alot of facts from you ... but the bottom line is what is this share WORTH with all of these mathematics .... 1,2,3,4,5,6, p per share ...??

[dicko80] 21/12/2023 19:39

valuation

Sale of assets

WWG $2.8m

Mambare $4.1m

Mt weld $1m (partial)

Total $7.9m

c£6.4m

Crcl mkt cap £9m

Angola

REM

Lithium

For £2.6m ?

Add in funding of £10m @ .80p, 50% premium to current sp

Brazil onshore oil and gas assets underreview

Additional Angola onshore and offshore assets under review

Current Angola apraisal drilling

The first two drills are appraisal wells, of which Corcel has net interest of 11.7mmbbls contingent resources

As a current valuation per bbl we are valued at just £0.76 per bbl

Even less if taking out the sale of assets of £6.4m... but let's disregard the cashpile

£9 mkt cap / 11.7mmbbls = £0.76 per bbl

3 different value creation events on an oil discovery

a) in the ground value $3 per bbl

11.7mmbbls x $3 =

$35.1m mkt cap / £28m mkt cap

b) on discovery $6 per bbl

11.7mmbbls x $6 =

$70.2m mkt cap / £56m mktcap

c) on successful flowtest $10 per bbl

11.7mmbbl x $10 =

$117m mkt cap / £93m mkt cap

The current drills a proven oil field , the tobias oil field first well T13 confirmed 120m oil column

current estimate is 65mmbbls of recoverable oil remains ,the current recovery factor used is 31%,so suggest the oil in place is around 200mmbbls but the operator and corcel believe there may be more oilinplace by completing the wells with modern techniques

There has been 12wells drilled historically, the area of closure is mapped and the 4previous wells that failed were outside the closure

Info on the below link



Once T14 completed and as per July presentation, expectation is for horizontal drilling from the vertical wellbore.

Horizontal drilling will access more of the reservoir , we know the reservoir is upto 120m thick but the area of closure has been mapped to 3400 acres , so if Google is correct this is an area of 3709m x 3709m



Please review the following link ,item C , increase the length of payzone



This will ramp up production, multiple times that of vertical well produces

As per timeframes , first oil is a quick turnaround expected in the next 6 months

Once into production, we will be cash generating !

No more dilution to shareholders

from the current mkt cap £9m there is huge upside to the forecasted aggressive production numbers , the plan looks to quickly drain the reservoir by production from horizontal drilling...

Item B on the below link



Potentially could ramp production x5x6 times

Forecast for corcel to be producing net 000's bopd

Very cash generative

buying now and holding for a few years ..

multiples in value

Then any other success in Angola especially from KON16 where our share is 300mmbbls net ,although this is exploration there was 12m oil found in previous well, so not your wildcat licence area

Lots of upside from current £9m mkt cap

[z1co] 21/12/2023 14:46

MM's not giving a quote to buy at 0.61p

[z1co] 21/12/2023 14:39

900,000 bought at 0.609p well above the offer price.

[z1co] 21/12/2023 14:38

News could well have leaked hence the strong RISE of the shares yesterday and today.