REG - Coro Energy PLC - Italian production update

Coro EnergyAnnouncement

16/06/2022 08:45

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RNS Number : 1201P  Coro Energy PLC  16 June 2022

16 June 2022

 

Coro Energy Plc

("Coro" or the "Company")

 

Italian production update

 

Coro Energy Plc, the South-East Asian energy company focused on supporting the
regional transition to a low carbon economy, is pleased to announce,
following the Company's announcement of 6 June 2022, that since the resumption
of production at each of Sillaro, Rapagnano and Casa Tiberi, the Company's
Italian portfolio has produced at an average rate of approximately 18.5k scm/d
with further production from Casa Tonetto expected shortly.

 

Revenues for the month of May were Euro 583,000.

 

Sillaro

 

Since reinstating production on the Sillaro gas field, production has
increased to a rate of approximately 12k Scm/d.  The Company is gradually
increasing production and, despite high expected summer temperatures is
confident that further increases in production can be sustained.

 

Rapagnano

 

The Company is delighted to confirm that production has stabilised at
approximately 5.5k Scm/d with further increases expected from a reperforation
which is scheduled for the summer.

 

Casa Tiberi

 

Production at Casa Tiberi has averaged above 1k Scm/d and the Company is
reviewing short term options to further increase production.

 

Casa Tonetto

 

The Company is in the process of finalising the permitting for CNG trucking
operations which once secured will enable immediate CNG deliveries to further
boost production.

 

 

 

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

 Patrick d'Ancona

 Chris McMahon

 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/d means standard cubic metres of gas per day.

 

 

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