Latest news with #Corcel
Daily Mail
4 days ago
- Business
- Daily Mail
MIDAS SHARE TIPS: Bullish bosses spending thousands buying their OWN shares
Company directors should know more about their business than anyone else. Given their privileged position, there are strict rules about when they are allowed to buy and sell shares. Directors cannot trade in the run-up to results, if their company is about to raise money or if any information is about to be released that might move the share price. Sometimes it seems there are precious few times when directors can buy and sell shares so, when they do, investors take notice. Using data from analytics specialist Smart Insider, Midas has unearthed significant directors' deals of recent weeks – purchases that would seem to suggest those at the top believe their shares have further to go. Corcel A small oil and gas company with assets in Angola and Brazil, Corcel is valued on the stock market at less than £17 million and each share is priced at 0.32p. However, chief executive Scott Gilbert has big ideas for the business and last month spent £75,000 on 25 million shares. Chairman Pradeep Kabra and commercial director Geraldine Geraldo echoed Gilbert's confidence, splashing out a further £30,000 apiece on shares. The purchases come at an interesting time for Corcel. It has a chequered past and previous management made mistakes aplenty. Today, however, under Gilbert's watchful eye, Corcel seems to be on surer ground. Hailing from Aberdeen, Gilbert has oil and gas in his blood. Both his parents spent their careers in the industry and he followed suit straight from university. Having made money early, he set out on his own and started looking for projects in Angola, where he had lived and worked as a young man. In 2022, Gilbert acquired three assets in the Kwanza Basin, an area rich in oil. A year later he sold a 90 per cent stake in these projects to Corcel, and last May was appointed chief executive of the group. At the time, Corcel shares had tumbled and prospects seemed bleak. Gilbert raised cash, strengthened management and moved ahead in Angola, while acquiring options to buy into gas fields in Brazil. Progress has not been easy. Two of the Angolan assets are majority owned by state-backed energy group Sonangol. They were expected to move into gear quickly, but early results were disappointing and Gilbert decided to look elsewhere for projects that could deliver short-term cash. Brazil hove into view and a potentially lucrative deal has been struck with local operators. Work continues on the two Sonangol sites and there is growing excitement about Corcel's third Angolan asset, known as KON-16. Gilbert has steadily built up Corcel's holding, most recently paying just $500,000 (£370,000) for a 27 per cent share. At the same time, Gilbert sold a 5 per cent in KON-16 to a Canadian investment firm for $2.5 million. That leaves Corcel with several million dollars in the bank while retaining more than 70 per cent of this enormous, 1,000km² site. Making ends meet at a small oil and gas firm is rarely plain sailing, but Gilbert is dedicated to success and has already made substantial progress. Plucky investors could take heart from his recent share deal. Some City fans believe the stock could reach 1.5p. Haleon Shopping for basics, many of us are happy with supermarket or cut-price goods. When it comes to our health, trusted names take centre stage. Haleon is a leader in the field, with a stable of brands used across the world, including Panadol, Tums, Day Nurse, Sensodyne toothpaste, Nicorette and Centrum vitamins. Split off from pharmaceutical giant GSK at £3.30 in 2022, Haleon had a bumpy market debut. But the stock has gained ground, reflecting strong sales, rising profits and steady growth in dividends. Last month, chief executive Brian McNamara set out his stall for the future, suggesting the firm could deliver £800 million of savings over the next five years, improve profit margins and increase sales by 4 per cent to 6 per cent annually – well ahead of the market. His pitch has gone down well with investors and Haleon shares are now at £4.18, having risen 8 per cent in the past month alone. Recent directors' dealings suggest McNamara's colleagues are optimistic, too. Asmita Dubey, a hot-shot at L'Oreal, bought Haleon stock for the first time since joining the board three years ago, forking out nearly £62,000 on shares at £4.01. Marie-Anne Aymerich, formerly at Unilever and LVMH, spent a cool £86,000 on shares at £4.05 each. And Blathnaid Bergin, finance director at Sainsbury's and a Haleon director since February, also thought it timely to buy stock with a £25,000 purchase at £4.04. The business encourages directors to buy shares – and quite rightly too. However, the recent flurry of deals, combined with McNamara's vision for the future are encouraging. At £4.18, Haleon shares should deliver growth, bolstered by forecast dividends of 6.9p this year and 7.5p next. Traded on: main market Ticker: HLN Contact: Checkit Checkit is a £16 million business whose shares have fallen 40 per cent over the past year to 15.4p. But it seems that chief executive Kit Kyte believes better times are ahead as he recently spent just over £70,000 on shares at 14.16p. The company's software, used in areas from food manufacturing to hospital drugs, helps to make sure equipment and machinery are working properly. An annual meeting this week should reveal how Checkit is faring in a tough economic environment – but Kyte's purchase could bode well. One to watch. Traded on: Aim Ticker: CKT Contact: SigmaRoc Tim Hall knows a thing or two about rock. Now 72, he has spent his career in aggregates, with notable successes along the way. In 2019, he became a director at SigmaRoc, a fast-growing lime and limestone business, valued on the stock market at £1.2 billion. SigmaRoc was founded in 2016 by Max Vermorken, an exceptionally hardworking Belgian with an ambition to create a leading limestone firm across Europe. Much work has been done, recent activity has been ahead of expectations and Vermorken is now focused on increasing sales by up to 5 per cent annually, improving profitability and rewarding shareholders with dividends or share buybacks. The targets were announced on May 7. A week later, Hall spent £84,000 on shares at £1.03 each. SigmaRoc has since risen to nearly £1.07 but there should be further to go. Lime and limestone are critical in making steel, glass and paper, fertilising crops and purifying water, milk and sugar. Economic uncertainty is unhelpful but SigmaRoc is outperforming peers and Hall's purchase is encouraging. The shares have risen 85 per cent since Midas recommended them in January last year, and cautious investors may choose to bank some profits. But this remains an attractive long-term investment.
Zawya
6 days ago
- Business
- Zawya
Sintana Energy Chief Executive Officer (CEO) Joins African Energy Week (AEW) 2025 Amid Regional Market Expansion
Robert Bose, CEO of independent oil and gas company Sintana Energy, will participate at the upcoming African Energy Week (AEW): Invest in African Energies 2025 conference in Cape Town. His participation underscores Sintana Energy's commitment to partnering with African stakeholders to unlock Africa's vast energy potential, driving energy security, industrialization and broader economic growth across the continent. In recent months, Sintana Energy has expanded its presence across Africa, advancing its portfolio of exploration and production assets in strategic markets. Through its participatory interest in blocks in Angola and Namibia, the company targets new discoveries, supporting efforts to unlock new hydrocarbon plays in southern Africa. At AEW: Invest in African Energies, Bose is expected to share insights into ongoing exploration initiatives. AEW: Invest in African Energies serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from September 29-October 3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@ Sintana Energy entered the Angolan market in May 2025 with the signing of a strategic partnership with UK-based E&P firm Corcel. The deal aims to unlock oil and gas potential in Angola's highly prospective onshore Kwanza Basin and comprises a 5% stake in Block KON-16. The farm-in serves to support development activities at the block. These include ongoing de-risking efforts, a 3D seismic acquisition program and a robust exploration campaign scheduled for 2026. The partnership also aims to identify and develop additional assets across Angola. Meanwhile, through its interest in Custos Energy, Sintana Energy is involved in exploration efforts within Petroleum Exploration License (PEL) 87 in Namibia's Orange Basin. A high-quality 6,593 km² 3D seismic dataset has already confirmed hydrocarbon potential in the block. The project partners are currently seeking a farm-in partner to support exploration and development at the block. Meanwhile, in PEL 83, Sintana Energy is advancing the development of the Mopane discoveries, with ongoing drilling campaigns in Blocks 2813A and 2814B in partnership with Galp Energia (operator) and Namibia's National Petroleum Corporation. As of February 2025, the companies successfully drilled, cored and logged the Mopane-3X well, with preliminary data confirming significant columns of light oil and gas condensate. A 3D seismic acquisition campaign is underway and expected to be completed shortly. At PEL 90, the company continues to explore the country's hydrocarbon potential through drilling activities such as the Kapana-1X well. In 2024, Sintana Energy acquired a 49% interest in Giraffe Energy, and subsequently, assumed a stake in PEL 79 in Namibia. The acquisition reaffirms the company's long-term strategy to become a major player in Namibia's oil and gas industry. At AEW: Invest in African Energies 2025, Bose will highlight these milestones, sharing insight into ongoing drilling campaigns and future investment prospects. 'Sintana Energy has played an instrumental part in showcasing the potential of Namibia's Orange Basin. As the country seeks to achieve first oil and gas production, companies such as Sintana Energy will be crucial. The firm's entrance into Angola is also a strong testament to its commitment to Africa's oil and gas landscape,' stated Ore' Onagbesan, Project Director, African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber.
Ottawa Citizen
14-05-2025
- Business
- Ottawa Citizen
Angola Entry via Strategic Partnership with Corcel plc Investment in KON-16 Onshore Kwanza Basin
Article content TORONTO, May 14, 2025 (GLOBE NEWSWIRE) — Sintana Energy Inc. (TSX-V: SEI, OTCQB: SEUSF) ('Sintana' or the 'Company') is pleased to announce the formation of a strategic partnership with Corcel, plc (AIM: CRCL) ('Corcel') focused initially on opportunities in Angola. Article content Article content Specifically, Sintana and Corcel have entered into an agreement which provides for Sintana's acquisition of an indirect 5% net interest in KON-16 located in the onshore Kwanza Basin in Angola. Sintana will acquire its interest through the acquisition of a 5.88% equity stake in a newly formed Special Purpose Vehicle ('SPV') that will hold Corcel's consolidated 85% gross interest in KON-16. Additionally, Sintana will receive a future 2.5% Net Profits Interest ('NPI') on Corcel's interest in KON-16 of up to $50,000,000, after which the NPI reduces to 1.5%. The consideration for the transaction is a total of US$2.5MM payable by way of an initial US$500,000 deposit and a balance of payment at closing, which is subject to entry into definitive documents and other completion conditions expected to occur in Q3 2025. Article content Article content KON-16 represents one of the most exciting opportunities in the onshore Kwanza Basin with a history of successful exploration establishing petroleum systems in both post- and pre-salt intervals. KON-16 has multiple exploration opportunities, including a large, multi-target prospect whose primary targets contain estimated unrisked volumes of several hundred million barrels of recoverable oil. Article content Corcel and Sintana have also executed a Joint Study and Bid Agreement establishing an alliance to evaluate and pursue oil and gas exploration and production opportunities in Angola. Under the agreement, both parties commit to jointly collaborate on the identification and review of new opportunities. Participation in any specific opportunity is voluntary and subject to unanimous agreement on commercial and other bid terms. Article content Article content 'Our emerging partnership with Corcel is emblematic of our strategy to work with best-in-class partners and deploy high impact capital that brings us exposure to large potential resource outcomes that require little additional capital,' said Robert Bose, CEO of Sintana. 'We look forward to the expansion of our West African conjugate margin exposure through our acquisition of an interest in KON-16, one of the most promising blocks in a proven, underexplored basin,' he added. Article content Article content The Company is engaged in petroleum and natural gas exploration and development activities on six large, highly prospective, onshore and offshore petroleum exploration licenses in Namibia, and in Colombia's Magdalena Basin. Article content 'A. Robert Bose' Chief Executive Officer Article content For additional information or to sign-up to receive periodic updates about Sintana's projects, and corporate activities, please visit the Company's website at Article content Certain information in this release are forward-looking statements. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or intensions for the future, and include, but not limited to, statements with respect to potential future farmout agreements on PEL 83 and/or PEL 87, and proposed future exploration and development activities on PEL 83 and/or PEL 90 and neighbouring properties, statements as to the future prospectivity of KON-16, the closing of the proposed transaction with Corcel as presently proposed or at all, the receipt of all applicable regulatory approvals, as well as the prospective nature of the Company's property interests. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including, but not limited to risks relating to the receipt of all applicable regulatory approvals, results of exploration and development activities, the ability to source joint venture partners and fund exploration, permitting and government approvals, and other risks identified in the Company's public disclosure documents from time to time. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company assumes no obligation to update such information, except as may be required by law. Article content
Toronto Star
14-05-2025
- Business
- Toronto Star
Angola Entry via Strategic Partnership with Corcel plc Investment in KON-16 Onshore Kwanza Basin
TORONTO, May 14, 2025 (GLOBE NEWSWIRE) — Sintana Energy Inc. (TSX-V: SEI, OTCQB: SEUSF) ('Sintana' or the 'Company') is pleased to announce the formation of a strategic partnership with Corcel, plc (AIM: CRCL) ('Corcel') focused initially on opportunities in Angola. Specifically, Sintana and Corcel have entered into an agreement which provides for Sintana's acquisition of an indirect 5% net interest in KON-16 located in the onshore Kwanza Basin in Angola. Sintana will acquire its interest through the acquisition of a 5.88% equity stake in a newly formed Special Purpose Vehicle ('SPV') that will hold Corcel's consolidated 85% gross interest in KON-16. Additionally, Sintana will receive a future 2.5% Net Profits Interest ('NPI') on Corcel's interest in KON-16 of up to $50,000,000, after which the NPI reduces to 1.5%. The consideration for the transaction is a total of US$2.5MM payable by way of an initial US$500,000 deposit and a balance of payment at closing, which is subject to entry into definitive documents and other completion conditions expected to occur in Q3 2025.
