Member Info for Dicko80

No problem Luke

Joe

we are currently drilling 11.7mmbbls net to the company, although they are hoping to increase the oil in place numbers

there is 3 valuations to look at

1) in the ground value, this is used at exploration stage $3 per barrel

11.7mmbbls x $3.7 = $43.29m mkt cap / £35m

currently £7m mkt cap

2) on announcement of discovery

$6 per bbl

11.7mmbbls x $6 = $70.2m mkt cap / £56m

currently £7m mkt cap

3) successflow flow test

$10 per bbl

11.7mmbbl x $10 = $117m mkt cap / £93m mkt cap

currently £7m

now we are drilling into a historic oil field, so its not exploration ... more appraisal well

TD est around 850m, thats where the OWC is.

based on the timelines to date, one can speculate the well is being drilled and tested before any news (shouldnt take very long to drill to 850m onshore)

We are not the operator so our hands are tied, but maybe an update next week

according to CRCL website, results in October from this initial well

https://www.corcelplc.com/project/onshore-kwanza-basin/

Also July presentation, timeline suggest drilling through to year end, we know there are further wells planned, probably horizontal drilling, to ramp up production again referring to timeline, first oil Q2 next year

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

In Angola alone, we have c315mmbbls net resources to explore

that's before we here on Brazil, lots of opportunities under review

NT to buy online

Hopefully a good afternoon in prep for next week

Welcome Raymond, are you a holder ?

Nice SP71

Ticking up nicely

.44 - .45

Lets go girls 🕺💃

We are on the cusp of something truly exciting ,that will not only change the Company's perception but also the valuation

£7m mkt cap

Huge upside from here

💥💥💥💥

One can only assume they are drilling and testing before any announcement

we have to remember we are not the operator and our hands will be tied, we will told what we can release and when

The objective of the drill was to increase OIP and understand the reservoir performance

good buying opp @ 0.42p

Still marketing the farm out...🙈

Thanks JBTs 😉😘😍💰💥🚀

How we all doing today ?

FYI CRCL moving

Is she breaking out....

0.52p to buy

Dont panic, all will be fine

Dont worry spud is only 6months away

Moving up

0.5p about to go

Thank you for your kind words smkr

We are now approaching 4 weeks from spud, we are only drilling to c850m onshore

c2 weeks to complete drilling allowing for downtime changing casings etc

2 weeks to test reservoir performance, complete tomorrow?

Who knows ,but can't be far off

Chart is poised to break out of the flag , first target .75p

Last chance to buy sub .5p

GLA

Depends on the size of the find and the detail in the RNS

BIG oil column

50mmmbls + gross

10mmbbls net to CRCL

Flow tested

$3in the ground

$6 on discovery

$10 on flow tested

So $30 - 100m range , we will likely get discovery (already proven and flow tested) in one RNS

Then the important detail will be the forward plan, follow on drilling and production guidelines

Yes lovely controlled move north

0.48 -.50p

Not many on offer now under 0.5p

I remember asking stating how exciting our board must be in the cusp of getting the project going..

"too busy to be excited"

i took that as definitely no no

the IRR per well is low, flow rates poor...

you need decent flow rates for quick payback and good IRR