Coro Energy Announces Italian Production Update

Source: www.gulfoilandgas.com 6/16/2022, Location: Europe

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.

Revenues for the month of May were Euro 583,000.

Sillaro
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.

Rapagnano
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.

Casa Tiberi
Production at Casa Tiberi has averaged above 1k Scm/d and the Company is reviewing short term options to further increase production.

Casa Tonetto
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.


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