Lenigas 18 Sep '23 - 11:13 - 1296 of 1299
I think a fund raising at the right price is definitely on the cards. But I’m sure Karam wants the price to be a lot higher than it is now. He wants this CRCL at multi hundred million market cap. That’s what he told me last week. Let’s see.
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DL over on advfn
3 licence areas , as many wells as you wish dependent to financing
Reading the spud RNS it reads on a success case further well/s
Then if you refer to the July presentation on the work programme table,drilling is mid Q3 to the end of Q4, taking that as it reads is 4.5months and that would take as multiple wells on KON11 with reservoir only at 700m,quick to drill
The tweet was awesome but I have to agree some of that could been in an update via the formal channels
If they tweet saying updates to roll next week, they need to stick to timeliness
The current mkt cap is £6.5m
Corcels estimated contingent resource in this drill for KON11 is 11.7mmbbls
6.5 / 11.7 = $0.56 per barrell
Probably worth $9 or $10 per barrell on a success case when they can be booked from contingent to reserves
Yes kon 11 & 12 have proven oil fields within the licence area
11 - is the tobias field , which a well is currently being drilled through the known reservoir at 700m
Map on website on link below, click on map,key tells you the oil fields and leads
https://www.corcelplc.com/project/onshore-kwanza-basin/
Large round prints will be theirs, 5m has been the common parcel size
the sp hit mid 0.5's before the offloading commenced
so without large sellers (always going to be sellers or sorts)
the sp will head higher especially as its not been allowed to price in any success due to the seller, so has some catching up to do..
Smkr
clearly we have witnessed heavy selling, sp has dropped 30% from intraday high earlier in the week
your call if you choose to ignore this...
but options are
a) placing - forward selling
b) holder derisking
c) duster - insider sell off
if no RNS at 7am, expect a 4pm duster RNS
sleep well xx
Could be these men,....
"Corcel will now proceed to issue Huntsman Exploration Inc ("HMAN"), 50,000,000 new ordinary shares ("Acquisition Shares") at the previously agreed issue price of £0.004 equating to £200,000 consideration in aggregate. The shares will be issued following the Company's upcoming General Meeting, currently scheduled for 26 April 2023 at 1500,"
might have sold 50%, 50% to go