REG - Coro Energy PLC - Italian Portfolio: H1 2022 Production Update

Coro EnergyAnnouncement

27/07/2022 07:00

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RNS Number : 8300T  Coro Energy PLC  27 July 2022

27 July 2022

 

 

Coro Energy Plc

("Coro" or the "Company")

 

Italian Portfolio: H1 2022 Production Update

 

Coro Energy plc, the South East Asian energy company with a natural gas and
clean energy portfolio, announces that its Italian portfolio has produced and
sold gas during the first and second quarter of 2022 as detailed in the table
below.

          Gas production (Scm)  Unaudited revenues (Euros)
 Q1 2022  945,100               859,900
 Q2 2022  1,610,900             1,565,442
 H1 2022  2,556,000             2,425,342

 

The increase in production in the second quarter of 2022 largely reflects
Sillaro recommencing production mid-March and, as previously announced,
various production enhancement initiatives are under review to further
increase production of the Italian portfolio, of which the likely first
initiative will be reservoir interval reperforation at Rapagnano later in the
year.

The Company notes the continued momentum in domestic Italian natural gas
prices into July 2022, which would, at current levels, result in further
increases in monthly revenues over Q2 2022 exit monthly revenues.

 For further information please contact:

 Coro Energy plc                            Via Vigo Consulting Ltd

 Mark Hood, Chief Executive Officer

 Cenkos Securities plc (Nominated Adviser)  Tel: 44 (0)20 7397 8900

 Ben Jeynes

 Katy Birkin

 Vigo Consulting (IR/PR Advisor)            Tel: 44 (0)20 7390 0230

 Patrick d'Ancona

 Charlie Neish

 WH Ireland (Broker)                          Tel: 44 (0)20 7220 1670 / 44 (0)113 946 618

 Harry Ansell

 Katy Mitchell

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the UK version of the EU
Market Abuse Regulation 596/2014 which is part of UK law by virtue of the
European Union (Withdrawal) Act 2018, as amended and supplemented from time to
time. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

Scm means standard cubic metres of gas.

 

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