RE: RNS out !14 May 2025 07:11
Scott Gilbert, Chief Executive Officer at Corcel commented: "We are extremely pleased to have executed two value-accretive transactions in rapid succession. Upon completion, our acquisition of an additional working interest and the strategic alliance with Sintana are clear validations of Corcel's first-mover advantage in the onshore Kwanza Basin. Starting with a 35% gross interest in KON-16, we increased our stake to 55% in September 2024 at no cost to Corcel. Today, with a modest outlay, we have secured a controlling interest in the block. We have firmly consolidated, monetised, and funded forward - all while preserving substantial long-term upside.
As we continue to build Corcel, we do so with a stronger balance sheet, a clear strategic vision, and a growing track record of delivering non-dilutive, value-generative transactions. Our focus now shifts to operational delivery and continuing to scale with discipline. I would like to thank Sintana for sharing our vision, the Corcel team for their outstanding execution, ANPG for their continued support, and, of course, our shareholders for their trust and patience as we position Corcel for sustained growth and regional leadership."