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Corcel ( (GB:CRCL) ) just unveiled an update.
Corcel PLC announced the commencement of workover operations in the IRAI field in Brazil, managed by operator Petroborn Óleo e Gás S.A. This project is part of a two-well workover program where Corcel holds an option to acquire an interest. The IRAI gas field, located in the Tucano Sul Basin, presents a significant opportunity for Corcel to increase production and revenue due to its shallow gas reservoirs and high production rates. This development aligns with Corcel’s strategy to diversify its portfolio and strengthen its position in the energy sector.
More about Corcel
Corcel PLC is a pan Angola-Brazil focused energy company with a notable oil and gas portfolio. The company has significant interests in onshore Angola, including brownfield redevelopment opportunities, and has expanded into Brazil by acquiring rights to producing gas and exploration assets. Corcel’s energy portfolio includes interests in three licenses in Angola and options to acquire interests in the IRAI gas field in Brazil. Additionally, Corcel holds an 80% working interest in the Mt Weld Rare Earth Elements project in Western Australia.
YTD Price Performance: 20.0%
Average Trading Volume: 10,410,392
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £6.44M
For an in-depth examination of CRCL stock, go to TipRanks’ Stock Analysis page.
