Corcel, the Angola-Brazil-focused energy company, has raised £3 million by way of an equity placing at £0.0035 per share, in line with the Company's 15-day volume-weighted average price.

The fundraising was conducted by Auctus Advisors and comprises two highly experienced new shareholders who, between them, bring decades of institutional investment experience and deep expertise in global capital markets. Their participation and leadership in the placing reflect strong conviction in the Company's strategy and long-term potential.

Scott Gilbert, Corcel's CEO, commented: 
"I am delighted to welcome our two new shareholders to Corcel. Their support provides us with additional strength and optionality as we enter a pivotal phase for the Company. Operations are now underway on our 2D seismic programme at KON-16, and we continue to advance multiple workstreams as we pursue growth opportunities both in Angola and internationally across the E&P life cycle. With a busy operational schedule ahead, 2026 is set to be a transformative year for Corcel, with several key milestones expected to drive substantial growth in shareholder value."

KeyFacts Energy: Corcel Angola country profile   l   Corcel Brazil country profile