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Share Price: 0.18

Bid: 0.17

Ask: 0.19

Change: -0.005 (-2.70%)

Spread: 0.02 (11.765%)

Open: 0.185

High: 0.185

Low: 0.18

Prev. Close: 0.185

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IN BRIEF: Corcel makes payment for Angola oil blocks as funds arrive

Fri, 14th Jul 2023 09:41

Corcel PLC - battery metals mining and oil and gas in Brazil and Angola - Makes required USD821,000 payment of risk service contract signature bonuses to Agencia Nacional de Petroleo, Gas e Biocombustiveis in Angola for Corcel's three oil block licenses there. The contracts relate to Corcel's acquisition last month of a 90% interest in Atlas Petroleum Exploration Worldwide Ltd. The Atlas Petroleum portfolio has three main licenses - KON-11, KON-12 and KON-16 - containing 21 historical wells in total.

The payment comes as Corcel receives all GBP1.1 million from the equity raise it announced back in March. Corcel also has received GBP226,958 from the raise it announced in May.

Current stock price: 0.27 pence, up 5.5% in London early Friday

12-month change: down 45%

By Tom Waite, Alliance News editor

Comments and questions to newsroom@alliancenews.com

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IN BRIEF: Corcel makes payment for Angola oil blocks as funds arrive

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