RE: Slow progress7 Aug 2025 16:49
They are due to start drilling in Angola next year when all the prep work has been done . From their website
ANGOLA ONSHORE
OIL AND GAS
Kwanza Basin
Large Onshore Basin (25,000 km2) split into 23 Blocks of approx.
1,000 km2 each
Corcel has licensed >3,000 km2 (750,000 acres) in this prolific oil
prone basin across 3 blocks (KON-16/12/11)
First Discovery 1955. Peak drilling in 1960’s/1970’s
9 Fields brought into production - production suspended in 1998
Last exploration well drilled in 1982
2025 work program to focus on the acquisition of new seismic data
with pathway to drilling high impact wells in 2026
Prospectivity seen in shallow (post-salt) and deep (pre-salt) targets
throughout Corcel’s acreage, with the additional potential of
reactivating historical oil fields (Tobias and Galinda)
Large Pre-Salt structures identified in Corcel’s KON-12 and KON-16
blocks share similar characteristics with Cobalt's Cameia discovery
offshore Kwanza Basin (Total’s 300MMBOE Kaminho project)
Numerous Post-Salt targets on trend with existing oil discoveries