Member Info for Dicko80

Gas ⛽

What is the forecasted cashflow once up and running to PREM ?

Sp looking strong

Https://luandapost.com/empresa-inglesa-vai-explorar-petroleo-em-luanda/

Https://energynews.pro/en/angola-oil-production-returns-to-the-kwanza-basin/

Needs a 🚀

If you watch this video from early Sept, looks like production facilities are already in place

Remember to translate into English using CC

https://youtu.be/if8Fm0TWgT4?si=DWCTXE_NFjp0utsq

They are not assumptions if the company has put it in black and White

1.2p might be too much today, but an attack on 1p could be in order 💥💥💥

Mkt cap £14m

Net contingent resources 11.7mmbbls

Priced at just £1.20per bbl

Should be between $3 -6 per bbl,

in the ground $3,

on discovery $6 per bbl

Flowtest $10 perbbl

Production expected Q2 so quick turnaround and value needs to increase significantly

Both wells have multiple zones to test, with each zone a potential producing zone over very large oil columns in both wells 120m & 80m which is highly fractured

It's now becoming clearer the potential production numbers discussed on here many weeks ago become reality

6,000 bopd net to corcel 2024

6,000 x $80 x 365 days =

$175,200,000 gross revenues to corcel

12,000 bopd net to corcel 2025

12,000 x $80x 365 days =

$350,400,000 gross revenues to corcel

Asset sales due covers £6m

REM update also pending

Lithium update pending

BRAZIL Opps under review for sometime

Angola exploration upside 300mmbbls +

Angola tenders submitted for additional licences

So much going on 💥🗯💥🗯💥

I think they'll also re-enter the old producing wells, sidetrack from the vertical wellbores to drill horizontal wells, these to have multiple branches off to intersect the reservoir to create numerous production lines , 2 or 3 per well

to significantly ramp up production from the historic 7 producing wells as well as the 2 new wells just drilled

FDP# 💥💥💥

Https://www.youtube.com/watch?v=NabwdbFK5mU

Bit of upside to the £2bn valuation

🤣🤣🤣

Obviously we didn't know the drill locations, info shared has been limited but it's such a hugely significant RNS TO14 as this location is top of the crest , where the oil migrates too, so most optimally drilling spot.

"The location of the well is at the top of the field's anticlinal structure, set over the larger of the two compartments that constitute the reservoir."

What they encountered...

"TO-14 drilling encountered high fractured Oolitic Limestones in the reservoir with good porosity values. Initial pressure readings support Corcel's predrill thesis that the reservoir has returned to its original pressure levels through active recharge of the system."

HIGH FRACTURED WITH GOOD POROSITY VALUES...

Very good for high flow rates #gusher

Initial pressure readings similar to original well as they state "returned to original pressure levels"

And we know the original wellflowed at its peak

12,580 bbls/d despite only penetrating the first 8m of the reservoir.

We have potentially 10x to test

But also the original well would have been a vertical well, horizontal wells could increase flow rates significantly which have been mentioned in all RNS

updates plus this last time also the additional of sidetracks

It's time to get excited 💥💥💥

Quietly moving up

My thoughts are stop spamming the boards

GBP have 1 asset that although offshore Namibia the structures aren't on the migration pathways so unlikely to get a farm out hence the low mkt cap as they have been trying for some time

CRCL on the other hand we expect £200m mkt cap in the near future

Https://www-expansao-co-ao.translate.goog/grande-entrevista/interior/estamos-a-negociar-a-aquisicao-de-mais-blocos-de-petroleo-e-gas-em-angola-115129.html?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp

Our new leader, interview from Oct

Mkt cap £11m

Net contingent resources 11.7mmbbls

Not even priced at £1 per bbl

Should be between $3 -6 per bbl, in the ground $3, on discovery $6 per bbl

Both wells have multiple zones to test,  with each zone a potential producing zone over very large oil columns in both wells 120m & 80m which is highly fractured

It's now becoming clearer the potential  production numbers discussed on here many weeks ago become reality

6,000 bopd net to corcel 2024

6,000 x $80 x 365 days =

$175,200,000 gross revenues to corcel

12,000 bopd net to corcel 2025

12,000 x $80x 365 days =

$350,400,000 gross revenues to corcel

Let the 10% have their day, the real money is to come on flow rates, field development plan and production into 2025

Then hunting 300mmbbls in KON16 once in production

Let the testing begin 🔥 🔥

Valuation

Sale of assets

WWG $2.8m

Mambare $4.1m

Mt weld $1m (partial)

Total $7.9m

c£6.4m

Crcl mkt cap £9m

Angola

REM

Lithium

For £2.6m ?

Add in funding of £10m @ .80p, 50% premium to current sp

Brazil onshore oil and gas assets underreview

Additional Angola onshore and offshore assets under review

Current Angola apraisal drilling

The first two drills are appraisal wells, of which Corcel has net interest of 11.7mmbbls contingent resources

As a current valuation per bbl we are valued at just £0.76 per bbl

Even less if taking out the sale of assets of £6.4m... but let's disregard the cashpile

£9 mkt cap / 11.7mmbbls = £0.76 per bbl

3 different value creation events on an oil discovery

a) in the ground value $3 per bbl

11.7mmbbls x $3 =

$35.1m mkt cap / £28m mkt cap

b) on discovery $6 per bbl

11.7mmbbls x $6 =

$70.2m mkt cap / £56m mktcap

c) on successful flowtest $10 per bbl

11.7mmbbl x $10 =

$117m mkt cap / £93m mkt cap

The current drills a proven oil field , the tobias oil field first well T13 confirmed 120m oil column

current estimate is 65mmbbls of recoverable oil remains ,the current recovery factor used is 31%,so suggest the oil in place is around 200mmbbls but the operator and corcel believe there may be more oilinplace by completing the wells with modern techniques

Once T14 completed and as per July presentation, expectation is for horizontal drilling from the vertical wellbore.

Horizontal drilling will access more of the reservoir , we know the reservoir is upto 120m thick but the area of closure has been mapped to 3400 acres , so if Google is correct this is an area of 3709m x 3709m

hTTps://www.propertycalcs.com/area/acres/3400

Please review the following link ,item C , increase the length of payzone

https://geology.com/articles/horizontal-drilling/#b

This will ramp up production, multiple times that of vertical well produces

As per timeframes , first oil is a quick turnaround expected in the next 6 months

Once into production, we will be cash generating !

No more dilution to shareholders

from the current mkt cap £9m there is huge upside to the forecasted aggressive production numbers , the plan looks to quickly drain the reservoir by production from horizontal drilling...

Item B on the below link

https://geology.com/articles/horizontal-drilling/#b

Potentially could ramp production x5x6 times

Forecast for corcel to be producing net 000's bopd

Very cash generative

buying now and holding for a few years ..

multiples in value

Then any other success in Angola especially from KON16 where our share is 300mmbbls net ,although this is exploration there was 12m oil found in previous well, so not your wildcat licence area

Lots of upside from current £9m mkt cap

Corcel's estimated unproduced prospective oil resources are 65 MMbls with 11.7 MMbls net to CRCL. The field will qualify for marginal field fiscal terms, as outlined by the Angolan government, resulting in advantageous royalty, tax and depreciation regimes.

About KON-11 and the Kwanza Basin

As previously announced, KON-11 is considered a brownfield development and includes the historically producing Tobias field, drilled, and developed by Petrofina in the 1960s and 1970s, and inactive since the late 1990s. The Tobias field constituted 12 historic vertical wells, and Corcel and the operator believe that a revised interpretation of the existing structures along with the application of modern drilling and completion technology, including potentially adding sidetracks or horizontal drilling to the Field Development Plan ("FDP") will lead to a higher Original Oil in Place ("OOIP") figure recognized in the reactivated field and subsequently more producible field resource potential

The TO-14 well found no presence of water during drilling, despite the fact that the offset TO-4 well had been reported to have watered out by the end of its production life, further indicating that the field has fully re-equilibrated.