Corcel PLC has provided an update on the reactivation activities in Block KON-11 in the Kwanza Basin, onshore Angola. The company, with a 20% working interest (18% net), is working with the Operator, Sonangol, to conduct well test efforts at the TO-14 well. The initial well test using nitrogen resulted in significant water production with oil shows and nominal oil saturation levels. Due to nitrogen shortages, the decision has been made to move to testing the TO-13 well, with the equipment move expected to take approximately 7 days. The Operator intends to return to TO-14 after testing TO-13, subject to a successful well test and related engineering studies.
Corcel's Executive Chairman, Antoine Karam, expressed optimism about the ongoing potential of their Angolan interests in the Kwanza Basin, stating, "With TO-13 testing shortly to commence, we will soon have an additional data set to aid in our efforts to both produce commercial oil in the short term and to reactivate and build out the Tobias field over the longer term."
The company has also provided a Qualified Persons Statement, and further updates on the Tobias field reactivation and testing program will be provided in due course. For more information, interested parties can contact Corcel PLC or its NOMAD & Broker, WH Ireland Ltd, and IR, Vigo Communications.