Coro Energy PLC Italian production update (1201P)
June 16 2022 - 3:32AM
UK Regulatory
TIDMCORO
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 Tel: 44 (0)20 7397 8900
Adviser)
Ben Jeynes
Katy Birkin
Vigo Consulting Ltd (IR/PR Tel: 44 (0)20 7390 0230
Advisor)
Patrick d'Ancona
Chris McMahon
WH Ireland (Broker) Tel: 44 (0)20 7220 1670 / 44
Harry Ansell (0)113 946 618
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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END
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