Corcel Share Discussion Threads

[smackeraim] 20/2/2024 10:47

https://vimeo.com/914560510Nice hearing new board comments

[z1co] 20/2/2024 10:11

Taking in to account that TO-4 flowed 12,580 bopd (peak) from just the first 8m of the reservoir , what will be interesting is what section of the reservoir the operator Sonangol is likely to flow test first.

[z1co] 20/2/2024 10:00

The location of TO-14 is at the top of the field’s anticlinal structure, set over the larger of the two compartments that constitute the reservoir and the well 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.

[z1co] 20/2/2024 09:39

Price is still down more than 50% from January's high.

[z1co] 20/2/2024 09:30

News regarding TO-14 is very close perhaps even this week.

[z1co] 20/2/2024 09:19

From 12/02/2024:

With testing underway, the Company now expects to receive initial flow tests results for TO-14 over the next several weeks.

[z1co] 20/2/2024 09:06

Quite a few early buyers this morning , perhaps a sign of good news ???

[dead duck resources] 19/2/2024 14:42

One day we will be able to look back on this and say we there there, at the very outset of the commencement.

[kemche] 19/2/2024 12:49

Classic treeshake before the commencement. Pharmakarma and Leni all over this now.

[smackeraim] 15/2/2024 16:50

Seems to have found its level for now. Few weeks wait is nothing considering the potential prize

[dicko80] 13/2/2024 11:46

Yes missed yesterday News, disappointing no comms until now

[chinahere] 12/2/2024 17:00

Formally preliminary?

[kemche] 12/2/2024 16:24

Can we have a preliminary beginning of the commencement?

[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