Corcel Share Discussion Threads

[dead duck resources] 12/2/2024 16:07

'formally begins' may be another preliminary stage. I take it to mean they now have a start date, so we await the actual commencement.

[helpfull] 12/2/2024 13:56

They have probably already tested the well and know if is a gusher but wanted to make sure before they announced the testing.

All multi-national oil companies do that.

We all know it.

Be careful.

[kemche] 12/2/2024 13:26

"testing of the TO-14 well has formally begun."

The initial testing was obviously informal.

[helpfull] 12/2/2024 12:36

All my averaging down shares I bought in the last few months are now worth less.

I'm going to have to double down on my averaging down.

The shares I had originally are still losing money so I will need to average more down on my averaging down.

And be prepared to double down.

Scottie is the brains behind all this.

Be careful.

[kemche] 12/2/2024 12:27

Same here.

[2figaro] 12/2/2024 12:03

Another little nibble for me at this price.

[kemche] 12/2/2024 11:37

"Well clean-up and flow testing now begins on TO-14"

That was the beginning of the beginning. Now it has truly begun. It is all quite clear.

Then the beginning of the whooshing as we approach the SOTP. Meanwhile all the cheap shares being collected in the background by PharmaKarmachameleon and Leni.

GLA LTHers!

[highly geared] 12/2/2024 10:23

Looking like late March/early April for first news on testing.

[dafad] 12/2/2024 08:48

You are incorrect-they did not lie,this is what they said


Corcel Share News - CRCL
Current Price
0.95p

0.00 0.00%
Bid Price Offer Price
0.90 1.00
High Price Low Price Open Price
0.95 0.95 0.95
Shares Traded Last Trade Market Cap
193,068 08:00:00 15.2M
Corcel PLC Oil Well Tobias-14 Drilling Results (9824X)
Intraday Corcel Chart

28/12/2023 7:00am
UK Regulatory (RNS & others)

TIDMCRCL

RNS Number : 9824X

Corcel PLC

28 December 2023

Corcel PLC

("Corcel" or the "Company")

Oil Well Tobias-14 Drilling Results

Block KON-11 - Angola

28 December 2023

Further to the announcement of 03 November 2023 , Corcel Plc (London AIM: CRCL) is pleased to provide an update on the drilling results of the Tobias-14 ("TO-14") well in the onshore Block KON-11, in Angola where it has a 20% working interest (18% net) . The Operator is Sonangol, one of the largest national hydrocarbon producers in Angola.

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 testin

[dead duck resources] 12/2/2024 08:41

Feb 12th RNS: 'Well testing now begins' and will take several weeks.

So when they said in December 'Well testing now begins' they lied?

[dicko80] 11/2/2024 19:50

Thanks affc21

They look happy stood behind the testing pipes

Fingers crossed 🤞

Just checked the timelines from the July 23 presentation

Page 12



Q1 24 looks to be real busy with news flow obviously waiting on testing results but also...

Maiden Brazilian acquisition

Consolidation Angolan assets

Then Q2 first oil from EPS

Just looking back through the videos online , does look like they have EPS in place

This video shows it 3 different times , can see the pipes, storage tanks etc

[smackeraim] 09/2/2024 19:48

Can't be far off now D. Been a long game of patience but will pay off.. (already has but you know what I mean)

[dicko80] 09/2/2024 07:38

Nice delayed buy print showing now from yesterday


Recent Share Trades for Corcel (CRCL)

15:18:24 0.99 1,525,000 Unknown*15.10k

News next week - well we wait on Mambare sale , Angola testing , also news at some point on REM its been some time, surely must be due

FOMO Friday

[dicko80] 08/2/2024 12:57

Well said Ed

And buy some stock whilst your at Rock

[edgein] 08/2/2024 11:40

Tigin/RL,

Rather than just bleat like a little girl, perhaps feel free to post about CRCL at some time too.

Regards,
Ed.

[dicko80] 08/2/2024 09:35

🤣🤣🤣🤣9315;🤣

Best Post you've done that Rock

To stop myself from repeating myself , it doesn't take long to test something that isn't flowing, I won't say anymore than that, as I have already repeated what we have and wouldn't want to upset you

But just for Clarity

Multiple zones
80m oil column T14
120m oil column T13

Big oil column and numerous intervals will take some time especially if the pressure is back to the original T04 that flowed 12580bopd from just 8m reservoir

As you say news will come when it comes

GL to you also

[dicko80] 07/2/2024 19:32

thanks for your lovely kind words tigin/Rocklawn 😘

[dicko80] 07/2/2024 09:29

She looks ready for a move north

Last chance to buy sub 1p

[dicko80] 07/2/2024 08:15

FDP

6 weeks of testing

Be good to get the flow rates but more so the details of the FDP

With 7 historic producing wells, 2 new wells,the opportunity to quickly ramp up production is significant

I know Sonagol have stated a 3 year development to drain the reservoir across the Tobias field which we believe is c65mmbbls recoverable

CRCL have a golden opportunity to go from a business that was non cash generating to significant turnover and profit making in a very short space of time

[dicko80] 06/2/2024 10:38

Nice buying opportunity @ .95p

[kemche] 06/2/2024 10:16

Classic treeshake before the production starts at the 2 Colins. Then the big one - the Brazilian Colin!

GLA LTHers!

[dicko80] 06/2/2024 08:19

If you zoom in on the slide with the woman

"2010 Seismic spacing is wide enough for the entire prospects to be missed entirely “

Implies additional prospects offering further exploration upside