Recommencement of Production at Bezzecca

RNS Number : 7430F

Coro Energy PLC

09 November 2022

 

9 November 2022

Coro Energy Plc

("Coro" or the "Company" and together with its subsidiaries the "Group")

Recommencement of Production at Bezzecca

Coro Energy Plc, the South East Asian energy company with a natural gas and clean energy portfolio , is delighted to announce the resumption of production at the Bezzecca gas field in Italy.   The well demonstrated strong pressure support, giving good indications for production performance in line with previously announced expectations of c.15,000 scm/d.  Stabilized production rates will be provided following an initial period to allow the necessary time for gas processing parameters to be adjusted.

James Parsons, Coro's Chairman, commented:

"I am delighted to announce that we have brought Bezzecca back into production which, together with the imminent resumption of Sillaro plus the current stable production from Casa Tiberi and Rapagnano, will increase cash flow generation from our Italian portfolio at an opportune time as spot gas prices escalate during the winter months."

For further information please contact:

Coro Energy plc James Parsons, Executive Chairman Ewen Ainsworth, Chief Financial 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]
Gneiss Energy Limited (Financial Advisor) Jon Fitzpatrick Doug Rycroft	Tel: [phone]

 

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