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Just doing a bit of research and this came up. Interesting comparisons between Brazil and Angola.

https://www.pgs.com/globalassets/technical-library/tech-lib-pdfs/fb_plummer_and_tilton_may_2021_camposkwanza.pdf

Thenorseman, totally agree, this finance was to get us from A-B, I very much doubt more than a few tranches will be needed, but great to have it.

Rocklanwn, there will be plenty of clowns around in the next few weeks, exciting times ahead. We have good forums away from these dismal public sites that have a very good handle on the amazing transformation AK has put in place, proving funding facilities at premiums that likely won’t be needed when the oil starts flowing.

Wishing everyone a successful 2024

Thanks Ed, not anything I have seen mentioned either, but I have been in other oiler that reworking existing wells is their most economical option and that was often to only achieve 100bopd.

Imagine cleaning up TO-4 and getting even 30% peak flow rate for a few $m! Food for thought.

Hi Ed, here is a swerve ball, is there any chance with the reservoir repressurising/replenishing that reworking existing wells become a very economical option?

Been NT to buy more than 1.25m all this decline, they have been dropping on tiny volume. Looks like a fishing trip to me.

Wow, wow, wow.

8m intersection flowed at 12k bopd and we just intersected 80m. The well looks to have “Re-charged” and despite the well being abandoned in the 90’s due to water the was no water found.

Looking forward to ED’s take, above is my amateurish take on it.

Lifeinmarbs, it looks like you pressed the sell button instead? 🤣

No, I just have invested in AIM long enough to know how things work and I would have done exactly what he did with a holding his size after a year he has had. As discussed below if CRCLs current drill program delivers what it could the market will take every share that the legacy funders have.

Siennaj, very wise move not to invest in something you do not understand, pretty sure there is a warren Buffet quote in there somewhere.

I am a long term follower/intermittent holder of CRCL and that connection seemed pretty clear to me very early on., along with the implication of it. Last years funding was make or break for the company, with very big risks taken by those providing it. The vast majority of the funding was done very close to our closing price today, there is no massive premium for anyone to sell into anymore….

Should good news come and legacy holders decide to sell then that is what the market is hear for. If the news is robust the market cares little where the shares come from it will just grab what it can.

Jonny, give it a rest your are stating look like those odd guys on ADVFN…

Jonny, if you are a genuine holder my observation is your posting is as disruptive as the derampers.

Nige, If Chessmaster is a chess master I am am an astronaut 🤣 Strangest of all investors you come across, sells up and then continues posting 🤡

Bye bye chess master, you might need to change your name as being good at chess it is important to think ahead. This event was so predictable and so unimportant to anyone who has been in Corcel and understands what is happening here.

Good luck on you other investments.

Chess, try buying some ;-)

NT for any amounts but thanks for you Friday doom mongering. 🤣

Earl, great link. I am liking this, I presume we qualify?

https://www.privacyshield.gov/ps/article?id=Angola-Oil-and-Gas#:~:text=Angola%20is%20the%20second%20largest

Marginal Projects:  Many oil and gas activities in development areas were suspended when deemed not economically viable. The Government’s intent is to encourage the reactivation of these activities within development areas. Legislation will enhance the oil and gas business environment, providing new guidance on oil and gas operations and processes that include streamlining of work programs. The Government also plans to implement contract and fiscal incentives that will promote operational efficiency in mature and marginal fields.

Fiscal Incentive regulation for marginal field development:  Presidential Decree No. 6/18 passed on May 18, 2018 establishes a new fiscal regime for marginal field development- less than 300 million barrels of reserves - or fields not economically viable because of lack of infrastructure.  It cuts petroleum tax to 10 percent from 20 percent, while reducing petroleum income tax on marginal fields to 25 percent from 50 percent.

Cash I agree, still feels like they are trying to fill an order by flushing a few out. I bought this morning on the first drop and little buying pressure forced them back up. It was this time last week we got a 1m buy at 8p, easy to forget that when they have apply pressure back to 7p.

Https://x.com/davidlenigas/status/1702637663700799503?s=61&t=0hrSsgO4cfDcpTBMIVlOGA

DL “ Big new boss of @Corcel in Angola. Go Antoine. #CRCL. This I feel is the big vining of something very big.”

A week or two. Hmm that is pretty much now from that tweet. :-)

Siennaj, I can’t find a link atm but if you are on the Telegram App the group is called CORCEL PLC, you might be able to find it on the search function.. There is more good discussion on here but if we go the normal way these things pan out we a likely to have to move across to there.