Corcel CEO discusses KON-16 progress and potential of Angola and Brazil assets

Corcel PLC (LSE:CRCL) CEO Scott Gilbert talked with Proactive's Stephen Gunnion about the company’s transformation into a high-impact, upstream oil and gas exploration business, with a strategic focus on sub-Saharan Africa and Latin America. Gilbert outlined recent progress at the KON-16 block in Angola, where Corcel is the operator. He noted, “We took it to 55% at no cost to the company. Then we did a transaction that took us to 85%.” Following that, the company sold a 5% stake to Sintana Energy for $2.5 million, demonstrating a strong transactional strategy. In Angola, Corcel is currently executing a 326 km 2D seismic survey, part of the effort to finalise drilling locations across five identified pre- and post-salt prospects. Gilbert described this as “very exciting times” with over 200 personnel on the ground. The company also raised £3 million in December 2025 from two sophisticated investors. “We've raised money in a very disciplined way,” Gilbert said, adding that this progression reflects growing market confidence. The company’s market cap has grown from just a few million to nearly £30 million. Looking ahead, Corcel aims to complete seismic work, determine drill targets, and prepare for its first well, while evaluating production acquisition opportunities to balance its exploration-led portfolio. Visit Proactive’s YouTube channel for more in-depth interviews. Don’t forget to like this video, subscribe to the channel, and enable notifications to stay updated. #CorcelPlc #OilAndGas #AngolaEnergy #SeismicExploration #UpstreamOil #ScottGilbert #SubSaharanAfrica #LatinAmericaEnergy #OilExploration #EnergyInvestment #JuniorOilandGas #AIMMarket #ProactiveInvestors