Corcel Share Discussion Threads

[z1co] 28/12/2023 11:54

I can't get over the fact the company drilled TO-14 in close proximity to TO-4 which produced at its historic peak 12,580 bbls/d despite only penetrating the first 8m of the reservoir.

They will now flow test TO-14 and yet the company is only valued at around £10m and that's including the rise today.

[z1co] 28/12/2023 11:41

The operator will clean-up the well and then begin the flow tests.

Expect plenty of positive news regarding TO-14 which will keep the shares in an upward trajectory.

[smackeraim] 28/12/2023 11:35

Looking ace now

[mark10101] 28/12/2023 11:32

Z1CO, best to leave that legacy thread where it is, the weirdest group of people I have ever come across, the energy they have expended on FUDing the old CRCL is staggering.

Plenty to focus on the new CRCL post that RNS.

[z1co] 28/12/2023 11:30

Those that have already sold off will regret when the share price exceeds 1p.

[z1co] 28/12/2023 11:18

DDR

Posting his usual b/s because the idiot does NOT own any shares.

MM's having absorbed a lot of sells from traders but continue to increase the price.

[kemche] 28/12/2023 11:15

"producable sliver in these wells, which they haven't said" because it is a commercial secret for gawd's sake. But the oil has been shown and the shows are encouraging FFS! If you are not encouraged then that is your problem.

Pharmacal continues to buy.

GLA LTHers!

[dead duck resources] 28/12/2023 11:10

The first well penetrated 120m of the reservoir, only 80m this time. Karam did try to warn us there was a negative aspect...

It's a moot point though since the historic well was only able to produce from a tiny sliver of the reservoir. Penetrating every zone is nice but we just need to know that one zone, the extent of the producable sliver in these wells, which they haven't said.

[dicko80] 28/12/2023 11:00

Ticking up

[kemche] 28/12/2023 10:57

I am seriously tempted to buy back in.

[kemche] 28/12/2023 10:56

T13 and now T14 are both gushers! Oil has clearly been shown! There is no bad - only good!

The SOTP here is off the scale. I predict >1p by cop.

GLA LTHers!


There seems to be a touch of the Bell about Karam which I shall be monitoring with interest.

I eagerly await Pharmacal's 2024 tips with baited breath.

[z1co] 28/12/2023 10:55

DDR , just posted on the other thread.

A typical troll pretends to own shares but in fact owns f### all.

Best to ignore the troll.

[dead duck resources] 28/12/2023 10:51

Some of us long termers are still in and enjoying today's RNS. The share price price remains -99.99% on IPO but my last top-up 2 years ago at 1.5p is looking better at -56% 🥂 (- 62% inflation-adjusted)

One thing I'm concerned about though is the RNS comment 'Overall the drilling results were positive'. Suggests they weighed up the good and bad. Can anyone shed light on the bad?

[z1co] 28/12/2023 10:35

Corcel soars as latest Angola drilling results point to oil
Published: 08:56 28 Dec 2023 GMT

Shares in Corcel PLC (LSE:CRCL) jumped over 12% on Thursday morning as the company reported positive drilling results from its part-owned site in Angola.

Drilling in the TO-14 well, which is part of the onshore KON-11 block, confirmed oil throughout, the company said in an update.

These mirrored drilling results from the TO-13 well and effectively confirm production can be reactivated on the potentially significant hydrocarbon deposit, Corcel added.

“We've confirmed that the same formations are contiguous between both wells, and data indicates that these zones contain movable oil throughout the reservoir,” executive chairman Antoine Karam said.

“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.”

KON-11, in Angola’s Kwanza Basin, was developed by Petrofina between the 1960s and 1970s and has been inactive since the late 1990s.

Now operated by Sonangol and 20% owned by Corcel, the pair anticipate more could be produced at the site through the use of modern technology.

[dicko80] 28/12/2023 10:32

Hotorcold

Sale of assets

WWG $2.8m

Mambare $4.1m

Mt weld $1m (partial)

Total $7.9m

c£6.4m

Covers over 50% mkt cap

New management put funding in place at 100% premium when the share price was .40p to the tune of £10m

[z1co] 28/12/2023 10:14

Hotorcold

Read the rns dated 16/10/2023

[dafad] 28/12/2023 10:11

Good place to start would be padt rns's

[hotorcold] 28/12/2023 10:03

Hi. Just doing some research. How much cash in Bank? What percentage of shares are held by management? Will the company need to raise funds? Thanks

[z1co] 28/12/2023 09:34

The share price will rise towards the 1p and will be considerably higher once the well TO-14 gushes

[z1co] 28/12/2023 09:30

MM's enticing traders to sell by increasing the bid to 0.67p

[dicko80] 28/12/2023 09:30

Production profile

2024 25000 bopd
2025 50000 bopd

Corcel 20%

5,000 bopd
10,000 bopd

Cash cow

[z1co] 28/12/2023 09:27

dean

That's just from TO-14 the operator will flow test TO-13.

If both wells are positive then the price will .....

[dicko80] 28/12/2023 09:25

Hi Dean

Forecast production numbers are higher than 10k gross