Member Info for F1Driver

BOOM once that RNS lands on 100m Oil Column, known about and drilled previously. Not a Wildcat drill.

£90m mcap soon enough (without the larger field accounted for)

Recap on valuation as we have a few newbies posting and any potential investors looking to buy

Sale of assets

WWG $2.8m

Mambare $4.1m

Mt weld $1m (partial)

Total $7.9m

c£6.4m

Crcl mkt cap £6m

Angola

REM

Lithium

All in for free

Add in funding of £10m @ .80p, 100% premium now to current sp

Brazil onshore oil and gas assets underreview

Angola onshoreand offshore assets under review

Current Angola apraisal drilling

The first drill is an appraisal well, of which Corcel has 11.7mmbbls contingent resources

As a current valuation per bbl we are valued at just £0.51 per bbl

£6 mkt cap / 11.7mmbbls = £0.51 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 drill is a well into a proven oil field , the tobias oil field

current estimate is 65mmbbls of recoverable oil remains ,the current recovery factor used is 31%,so suggest the oil in place is around 200mmbbls

There has been 12wells drilled historically, the area of closure is mapped and the 4previous wells that failed were outside the closure

The current drill is drilling through the proven reservoir, which is upto 100m thick

Info on the below link

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

Once confirmed and as per July presentation, drilling to continue with one or more wells , expectation is for horizontal drilling from this first vertical wellbore.

Horizontal drilling will access more of the reservoir , we know the reservoir is upto 100m 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 6- 9months from now

Once into production, we will be cash generating !

No more dilution to shareholders

from the current mkt cap £6m 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

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 ,although this is exploration there was 12m oil found in previous well, so not your wildcat licence area

Current sale of assets covers mktcap

Lots of upside from current £6m mkt cap

Knowing is not the same as happening with money flowing through the door. Plenty of examples of this across many shares.

CRCL, MAST, very short term huge upside, re-rate. Multi hundred % inbound.

QBT over 6 months.

ENET over next 6 months should be double figs.

Great read, thorough research and fantastic investment case! Huge upside short term, great LT investment once it kicks off also.

Before BOOM, 400% on next RNS god willing!! Due imminently.

Then only just the start!!

Obvious gap to close price yesterday as it gapped up this morning, Id be very surprised it doesn't at least close that gap.

Revenues day 1 remember and then some forward value can be applied. Its ridiculous that its at the sp that it is.

No applebee - I expect it to motor to at least 3p mark imminently

Very difficult to buy any!!

Hopefully settle at 1.8-2p and then on to 3-4p on funding landing this or next week, as once first batch in then 2nd £2m will also, should be around 6p once all confirmed as some forward value can be reflected in as well.

Mcap is £4.75m

200k in the bank (loan) and no contracts (so far). Lets see what happens.

No spike, go read some RNS's and you'll quickly realise its a great project medium/long term.

BOOM Soon - this is so under the radar its CRAZY!!

I see its being pumped again after 2 huge BEARISH signals in the last 3 days. Dark Cloud Cover and Three Black Crows on candle sticks.

Gd luck

Fully agree Jambone. I do however feel it will be about 2-4 weeks to get the servers in, racked, installed and set up across multiple datacenters.

Prob false dawn, 9% spread says it all

Madness, November 6th is the date, Id expect to be up to 3p by then.

Worth looking at IMC, well under the radar and value.

BOOOM. Expecting £12-15m mcap this week.