---
title: "Corcel Shares Surge 25% After Strengthening KON-16 Position and Securing $2.5M from Sintana"
publisher: "Share Talk"
author: "sharetalk"
published: "2025-05-14T09:31:58+00:00"
modified: "2025-05-14T09:31:58+00:00"
date: 2025-05-14
canonical: "https://www.share-talk.com/corcel-shares-surge-25-after-strengthening-kon-16-position-and-securing-2-5m-from-sintana/"
category: "Energy"
categories: ["Energy"]
tags: ["Angola", "Corcel", "CRCL", "gas", "investment case", "Kwanza Basin", "oil", "Robert Bose", "Scott Gilbert", "Sintana Energy Inc", "Sonangol"]
image: "https://i0.wp.com/www.share-talk.com/wp-content/uploads/2025/05/Corcel-PLC.webp?fit=1200%2C800&quality=80&ssl=1"
format: "news"
language: "en-GB"
---

# Corcel Shares Surge 25% After Strengthening KON-16 Position and Securing $2.5M from Sintana

**Published:** May 14, 2025
**Author:** sharetalk
**Categories:** Energy
**Tags:** Angola, Corcel, CRCL, gas, investment case, Kwanza Basin, oil, Robert Bose, Scott Gilbert, Sintana Energy Inc, Sonangol
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2025/05/Corcel-PLC.webp?fit=1200%2C800&quality=80&ssl=1)

---

**Corcel PLC (LSE: CRCL)** shares jumped 25% to 0.27p in Wednesday morning trading after the company announced it had significantly strengthened its position in Block KON-16 in Angola’s Kwanza Basin and secured $2.5 million in funding through a strategic partnership with Sintana Energy Inc.

Corcel, through its subsidiary APEX, has increased its gross stake in KON-16 to 85% by acquiring an additional 30% interest. At the same time, it has divested a 5% net interest in the block to Sintana, marking the asset with a pre-seismic valuation of $50 million.

As part of the deal, Corcel and Sintana have entered into a broader strategic alliance aimed at identifying further oil and gas opportunities in Angola. The proceeds from the transaction will fund an upcoming seismic campaign ahead of a planned exploration well in 2026.

“We are extremely pleased to have executed two value-accretive transactions in rapid succession,” said Corcel CEO Scott Gilbert. “Starting with a 35% interest, we increased our stake to 55% in September 2024 at no cost. Today, with a modest outlay, we’ve secured a controlling interest in the block, while monetising and funding the next stage—preserving significant long-term upside.”

Sintana CEO Robert Bose added: “Our partnership with Corcel gives us a strong platform for entering Angola, and we’re particularly excited about the potential of KON-16.”

The deal marks a major milestone in Corcel’s strategy to become a key player in underexplored onshore African energy basins.

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