Corcel PLC Achieves Milestone with Successful EI-1 Well Workover in Brazil

Corcel ( (GB:CRCL) ) has provided an announcement.

Corcel PLC announced the successful workover of the EI-1 well in the IRAI field, Brazil, which confirmed sustained gas production at historical rates. This workover aligns with Corcel’s strategy to acquire cash-generating assets and marks the company’s first production milestone in Brazil shortly after securing the IRAI opportunity. The achievement demonstrates Corcel’s rapid execution capability and strategic positioning in a proven, low-cost gas-producing region, providing significant expansion potential and revenue opportunities.

More about Corcel

Corcel PLC is an energy company with a focus on Angola and Brazil. It has a diversified portfolio that includes interests in oil and gas assets, particularly in onshore Angola, and has recently expanded into Brazil by acquiring rights to producing gas and exploration assets. Additionally, Corcel has interests in the battery metals sector, including the Mt Weld Rare Earth Elements project in Australia.

YTD Price Performance: 23.33%

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Technical Sentiment Consensus Rating: Buy

Current Market Cap: £7.11M

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