Italian Portfolio: Resumption of Production

RNS Number : 4711G

Coro Energy PLC

30 March 2022

 

30 March 2022

Coro Energy Plc

("Coro" or the "Company")

Italian Portfolio: Resumption of Production at Sillaro

Coro Energy Plc, the South East Asian energy company focused on leading the regional transition to a low carbon economy, is delighted to announce that gas production at Sillaro has resumed and is currently producing at a stabilised rate of circa 17k scm/d with an expected 2022 average production rate of circa 13.5k scm/d.

As previously announced, buoyed by the strong European gas market backdrop and at current gas prices,   the Company expects to generate in excess of €5 million per annum of free cash flow from its Italian portfolio now that Sillaro is back in production.

 

Further production enhancing activity is scheduled across the Italian portfolio during the course of the year.

Further announcements will be made in due course as appropriate.

For further information please contact:

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

Scm/d means standard cubic metres of gas per day.

 

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