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I'm surprised that James Parsons resigned. He has a load of shares - over 35 million - as well as 2 million options and nearly 10 million warrants. It will look a very bad decision if the share price here rockets both short term and then long term, though I suppose he will at least be able to sell his shares when the share price reaches several pence, which I think is the one complaint he seems to get from shareholders (particularly those stuck in Sound Energy!).

I can't see Lenigas joining the board here as he is on the board of Riversgold, the ASX-listed company that has farmed into Mt Weld.

Yes, I did think that it would not be possible for the directors to buy in with the well already spud and in progress.

Come on Corcel management - where is the much needed and overdue podcast? And maybe some directors buys too.

A podcast would go down rather well. Let's hope Proactive, or Sharetalk, or Zak Mir, or this lot at LSE are on to it and that the management can spare some time to give us all the relevant info regarding timescales, possible flow rates, etc.

The facts are:

"Commercial production is expected to commence from the well aided by the installation of a rod pump which will have the capacity to deliver up to 250 bopd.

Installation of the rod pump is expected to be undertaken during October. In the interim period reservoir clean-up will continue into the wellbore.

It is expected that once the well is fully cleaned up and this rate has been achieved (250bopd), the rod pump will be replaced with an Electrical Submersible Pump ("ESP") which has higher capacity."

So at some time during October commercial production will commence at 250 bopd.

I was just suspicious that they hadn't made any announcements after more than 3 weeks of supposed clean-up and testing. It turns out that clean-up didn't even start until 8th September.

Also most of these drills will issue initial flow rates - which here they say could be 900 bopd - but then they actually put them on production at a much lower rate - here they say it will be at 250bpod and maybe a bit more once the ESP is installed.

0.55p to buy. Still only a handful of trades going though and most of those are quite small with live trades only showing one trade of 1,000,000 or more - oh, and that was mine. A few sells will keep the MM's in shares for a while but they won't last long as most of the brokers are going to NT, especially for quantity.

Very confusing.

The announcement on 18th August said:

"The operating team will now undertake reservoir clean-up, production testing and install the production liner to bring the SCHB-2(2.) well into production through the existing Schwarzbach facilities which are owned and operated by the Company. The expectation is that this production will be brought onstream over the next month."

Now on 11th September it says that the clean-up only started on 8th September. No wonder we hadn't heard anything since the 18th August.

It was previously announced that the well should flow at between 200 and 1500 bopd (mean average of 850bopd) and now they say it could flow at 900 bopd. There is a lot of difference between could flow at 900 bopd and that it has flowed at 900 bopd and now this won't even be known until October. And what is the 250 bopd about. Basically it says it could flow at 900 bopd but after the installation of the rod pump production will be limited to 250bopd.

Basically it says that the clean-up operations are running very late, while it could flow at 900 bopd production will have to start at 250 bopd and then will increase with the installation of the ESP which has a higher capacity but in reality that might not be until November or whatever.

I'm glad I sold on Friday and put the money on CRCL.

I got a few more but had to pay 0.4699p. I expect that will be pretty cheap very soon. No doubt we will be bombarded by profit-taking posts very soon again.

ATB

A podcast would go down very well. One of the tweets said that Sharetalk are ready to do one. It would be good manners anyway, seeing as the share price has been in the dumps for a while and this is very exciting news.

Also directors buying would be immense - especially after what happened recently at UPL (which I repeat again I missed unfortunately) - though I am not sure if the directors can buy now the drill has spud. Insider info & all that. Does anyone know the technicalities?

1p = £15M m/cap - nothing is it!!!

Okay, I have just fact checked and it turns out that James Parsons resigned from the Corcel board a couple of months ago.

Corcel seems to be going well enough. And so will this when the GSA finally pops out. That followed by the divestment could easily multi-bag this by many times.

Still seems to be mainly buys as far as I can see - at least the bigger trades are all buys. There are a few tiny sells going through - for less than 100K or for a few 100K - but then that is probably the trades from our resident expert 'profit takers'.

A few 2 million delayed trades are going through on live prices but they all appear to be delayed buys as well.

People were doing that on ITS a few weeks ago. Banking hundreds and posting about it. I held for a couple of days and banked over £30K - and I still bottled it as I sold a couple of hours too early and could have banked over £60K.

I will hold this now for the drill results and maybe longer if they go straight to flow testing. Oil shares can very easily 10 bag if the starting price is small enough.

Well that is a jump. 65% up though I could see it happening, and more again, as it is just steady buying all day long. The spread is small and the sell price is okay but sensibly no one is taking up the offer. If the volume picks up this will be electrifying.

A podcast would go down rather well - lots to talk about, particularly KON-11 and the current drill, KON-16, Mt Weld and the lithium prospect. We might get one soon if this keeps rising.

Answering my own question about the pre- and post-salt prospects mentioned in the Prospectus on Page 7 it appears that there is another block - KON-16 - of which CRCL is the 31.5% operator which has not been explored or produced before and has a prospective resource estimate of 1,500 MMbbls gross unrisked P50 - 1.5 billion barrels. This is on top of the current drill.

Meanwhile the share price continues to rise on very low volume. This could really take off if the herd arrive.

Top of the risers board - that is the way to get noticed. We may even get ria20 turn up next. And the m/cap is still only a modest £5M.

Do we know more about these pre-salt and post-salt prospective resources that are referred to on Page 7 of the presentation??? A further 297 million barrels on top of the 11.7M net to CRCL in KON-11.

This may well be a repeat of the recent rise at Upland Resources where the rose from 0.5p to 3p on the minimum of news and hardly any posts. I completely missed the rise there and now it is very difficult to get back in as the share price is still nearly 2p. This is rising fast on very low volume. Once that picks up this could really fly. 27.2% up already!!

I'll repost the link for the presentation for those interested:

https://www.corcelplc.com/wp-content/uploads/2023/07/20230706_CRCL_PPT_FIN.pdf

Lenigas knows Corcel because he is the CEO or Chairman of Riversgold (ASX listed) who have farmed into the Mt Weld rare earth prospect.

Looking at the presentation ON it appears that on top of the previously producing targets (KON-11 - 65 MMbbls gross, 11.7 MMbls net to CRCL) there is also a massive Estimated Prospective Resource of up 1.5 billion barrels (with 20% net to CRCL):

• Post-salt 456 MMbbls - unrisked P50 (138 MMbo risked), 81.1 MMbls net to CRCL

• Pre-salt 1,029 MMbbls - unrisked P50 (223 MMbo risked), 215.9 MMbls net to CRCL