Corcel PLC Bolsters Angola Position with Increased Stake and Funding

Corcel (GB:CRCL) has released an update.

Corcel PLC, an energy company with operations in Angola and Brazil, has expanded its stake in the onshore KON-16 block in Angola from 35% to 55% through its subsidiary APEX at no additional cost, following approval from Angola’s National Agency for Petroleum, Gas and Biofuels. In addition to the increased interest in KON-16, the company has successfully raised £1,220,000 through a strategic equity funding aimed at advancing its operational and exploratory initiatives. This strategic move, coupled with the introduction of experienced investors in the oil and gas sector, positions Corcel for a commanding presence in the region and supports its long-term growth strategy.

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