Corcel PLC, through its subsidiary APEX, has awarded BGP the 2D seismic acquisition program for the KON-16 Block in Angola.

The project will involve BGP acquiring 326-line km of 2D seismic data. This acquisition aims to enhance subsurface prospectivity and move towards drilling preparation in 2026, with the goal of drilling a high-impact well. Corcel currently has 143-line km of 2D data over KON-16.

The new acquisition will provide a 227% increase in seismic coverage. The acquisition is expected to commence in Q4 2025 and conclude by year-end, pending permits, with seismic processing in Q1 2026 and results expected in Q2 2026.