Corcel PLC (AIM:CRCL, FRA:RM4B) Chief Operating Officer Richard Lane presented at the Proactive One2One Investor Forum on the company’s exploration strategy in Angola’s onshore Kwanza Basin and the progress across the portfolio.
Lane explained that Corcel PLC controls around 3,000 km² of acreage in the basin, providing exposure to both shallow post-salt opportunities and deeper pre-salt exploration targets. The company’s core operated asset is the KON-16 block, supported by non-operated interests in the KON-11 and KON-12 blocks. These assets offer a combination of new exploration prospects and potential brownfield reactivation opportunities from previously producing fields.
Lane highlighted the geological potential of the region, noting that the basin has a long history of discoveries dating back to the 1950s, but modern exploration techniques have only recently begun unlocking deeper opportunities. Recent work by Corcel PLC includes a focused 126-line-kilometre 2D seismic acquisition campaign across the KON-16 block. The survey was designed to refine existing prospects and move the company toward a drill-ready decision on multiple targets.
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