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Corcel PLC - battery metals mining and oil and gas in Brazil and Angola - Makes required $821,000 payment of risk service contract signature bonuses to Agencia Nacional de Petroleo, Gas e Biocombustiveis in Angola for Corcel’s three oil block licenses there. The contracts relate to Corcel’s acquisition last month of a 90% interest in Atlas Petroleum Exploration Worldwide Ltd. The Atlas Petroleum portfolio has three main licenses - KON-11, KON-12 and KON-16 - containing 21 historical wells in total.
The payment comes as Corcel receives all £1.1 million from the equity raise it announced back in March. Corcel also has received £226,958 from the raise it announced in May.
Current stock price: 0.27 pence, up 5.5% in London early Friday
12-month change: down 45%
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