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 Mark Hood, Chief Executive Officer |
Via Vigo Consulting Ltd |
|
Cenkos Securities plc (Nominated Adviser) Ben Jeynes Katy Birkin |
Tel: 44 (0)20 7397 8900 |
|
Vigo Consulting (IR/PR Advisor) Patrick d'Ancona Charlie Neish |
Tel: 44 (0)20 7390 0230 |
|
WH Ireland (Broker) Harry Ansell Katy Mitchell |
Tel: 44 (0)20 7220 1670 / 44 (0)113 946 618 |
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.