Italian Portfolio: H1 2022 Production Update

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 Mark Hood, Chief Executive Officer	Via Vigo Consulting Ltd
Cenkos Securities plc (Nominated Adviser) Ben Jeynes Katy Birkin	Tel: [phone]
Vigo Consulting (IR/PR Advisor) Patrick d'Ancona Charlie Neish	Tel: [phone]
WH Ireland (Broker) Harry Ansell Katy Mitchell	Tel: [phone]

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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