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CRCL Corcel Plc

0.325
0.00 (0.00%)
24 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Corcel Plc LSE:CRCL London Ordinary Share GB00BKM69866 ORD 0.01P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.325 0.30 0.35 0.325 0.325 0.33 558,424 08:00:09
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Misc Nonmtl Minrls, Ex Fuels 0 -1.26M -0.0008 -4.00 5.12M
Corcel Plc is listed in the Misc Nonmtl Minrls, Ex Fuels sector of the London Stock Exchange with ticker CRCL. The last closing price for Corcel was 0.33p. Over the last year, Corcel shares have traded in a share price range of 0.23p to 1.375p.

Corcel currently has 1,599,528,988 shares in issue. The market capitalisation of Corcel is £5.12 million. Corcel has a price to earnings ratio (PE ratio) of -4.00.

Corcel Share Discussion Threads

Showing 5226 to 5248 of 5775 messages
Chat Pages: Latest  219  218  217  216  215  214  213  212  211  210  209  208  Older
DateSubjectAuthorDiscuss
28/12/2023
08:14
Oh dear Kemche
That was bad timing 🤦🏻🙈🤮

judijudi
28/12/2023
08:10
Chart heading bk to 1.5p
dicko80
28/12/2023
07:53
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

dicko80
28/12/2023
07:41
Corcel's estimated unproduced prospective oil resources are 65 MMbls with 11.7 MMbls net to CRCL. The field will qualify for marginal field fiscal terms, as outlined by the Angolan government, resulting in advantageous royalty, tax and depreciation regimes.


About KON-11 and the Kwanza Basin

As previously announced, KON-11 is considered a brownfield development and includes the historically producing Tobias field, drilled, and developed by Petrofina in the 1960s and 1970s, and inactive since the late 1990s. The Tobias field constituted 12 historic vertical wells, and Corcel and the operator believe that a revised interpretation of the existing structures along with the application of modern drilling and completion technology, including potentially adding sidetracks or horizontal drilling to the Field Development Plan ("FDP") will lead to a higher Original Oil in Place ("OOIP") figure recognized in the reactivated field and subsequently more producible field resource potential

dicko80
28/12/2023
07:35
I missed the returning to original pressure bit! 80m at original pressures…R30;……230;……

“TO-14 drilling encountered high fractured Oolitic Limestones in the reservoir with good porosity values. Initial pressure readings support Corcel's predrill thesis that the reservoir has returned to its original pressure levels through active recharge of the system.”

mark10101
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

dicko80
28/12/2023
07:31
What an RNS, Move to the new thread now guys, this one is history.
mark10101
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
smackeraim
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

dicko80
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."

dafad
28/12/2023
07:10
Colin is gushing! Great Rns
smackeraim
27/12/2023
14:39
Mark you're most welcome.
z1co
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.
mark10101
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.

kemche
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.
mark10101
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.

z1co
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.

kemche
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
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