Business
Italian production update
Italian production update.
About this update from Coro Energy Plc
[{"type":"text","content":"\n \n \n 16 June 2022\n \n \n \n \n \n \n Coro Energy Plc\n \n \n \n (\"Coro\" or the \"Company\")\n \n \n \n \n \n \n Italian production update\n \n \n \n \n \n \n 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. \n \n \n \n \n \n Revenues for the month of May were Euro 583,000.\n \n \n \n \n \n \n Sillaro\n \n \n \n \n \n \n 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.\n \n \n \n \n \n \n \n \n Rapagnano\n \n \n \n \n \n \n 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.\n \n \n \n \n \n \n Casa Tiberi\n \n \n \n \n \n \n Production at Casa Tiberi has averaged above 1k Scm/d and the Company is reviewing short term options to further increase production.\n \n \n \n \n \n \n Casa Tonetto\n \n \n \n \n \n \n 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.\n \n \n \n \n \n \n \n \n \n \n \n \n For further information please contact:\n \n \n \n \n \n \n \n \n Coro Energy plc\n \n \n \n Mark Hood, Chief Executive Officer\n \n \n \n \n Via Vigo Consulting Ltd\n \n \n \n \n \n \n \n \n \n \n \n \n \n Cenkos Securities plc (Nominated Adviser)\n \n \n \n Ben Jeynes\n \n \n Katy Birkin\n \n \n \n \n \n \n \n \n \n Tel: 44 (0)20 7397 8900\n \n \n \n \n \n \n \n Vigo Consulting Ltd (IR/PR Advisor)\n \n \n \n Patrick d'Ancona\n \n \n Chris McMahon\n \n \n \n \n \n \n \n \n \n Tel: 44 (0)20 7390 0230\n \n \n \n \n \n \n \n WH Ireland (Broker)\n ...