04:14 AM EDT, 09/10/2026 (MT Newswires) -- Corcel (CRCL.L) executed a definitive share purchase agreement with Sintana Energy (SEI.L) to sell an indirect 5% participating interest in its operated Block KON-16 project in Angola for $2.5 million. The energy company will grant Sintana a net profit interest in KON-16 under which the oil and gas company will receive 2.5% of its net proceeds after first oil, according to a Thursday release. Once total payments reach $50 million, the net profit interest will drop to 1.5% Sintana paid $500,000 when the companies signed binding heads of terms in May 2025 and will pay the rest in cash at completion, which is expected imminently.

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