Anyone taken a punt on this stock, which floated today?

Thanks again. :-)) Moves fast.

The S. Maddalena gas field (S. Alberto licence) is located very near the Sillaro field.
This concession application received environmental clearance and the Company is awaiting the finalization of the production concession license. The field will require a simple development including a small modular plant to treat the gas and a short pipeline (200 metres) to connect the plant to the national grid. First gas is expected in the 2017 European summer.


The Bezzecca gas field is an approved production field ready to bring into production.
Its first well, Bezzecca 1 is located 7 km from the existing Vitalba gas production plant and is ready for to be connected through a newly constructed tie-in pipeline. All approvals and agreements with land owners for the pipeline are in place and a head contract for construction has been signed. The cost of the pipeline is expected to be EUR2.2m and contracts for construction have been signed.  Construction commenced in mid-September and, subject to weather conditions, is expected to be completed over a twenty-week period.  After a short commissioning period production will commence.
Development approval has also been granted for a second production well (Bezzecca 2) and plans to drill and complete this well will commence in 2017 once the Bezzecca 1 well has been brought into production. Gas from Bezzecca 2 will also be processed from the Vitalba processing plant which has sufficient capacity for both the Bezzecca 1 and 2 wells.


The Sillaro field is located in the province of Bologna and was originally explored by ENI between 1955 and 1982 with seven wells drilled in and around the structure.
The field contains gas bearing zones in the Pliocene level at a depth of 2,100 metres. The deeper Miocene level, at a depth of 2,500 metres, was previously drilled by ENI and found to have a gas bearing reservoir.
In July 2009, drilled it was drilled a second well (Sillaro-2dir) intersecting the Pliocene gas reservoirs designed to produce from multiple levels and to increase overall flow rates and optimise total field recovery.
Since production commenced in 2010, Sillaro has proved a strong revenue and cash flow generator, generating over EUR 30 million in revenue and EUR 23 million in operating cashflow.
The Sillaro gas production field is currently producing at limited rates from one of its two historic production wells.  The field still has unproduced gas from its Pliocene reserves and also from the deeper Myocene levels. The plan for this field is to secure a farm-in partner to drill a side track well from the existing production area to access the deeper Miocene reserves and Pliocene levels which have been identified but are not currently completed.

The percentage of the Company’s issued share capital that is not in public hands is 65.70%.
There are no Ordinary Shares held in treasury and therefore the number of Ordinary Shares with voting rights is 153,720,000
The securities of the Company are solely traded on the AIM market operated by London Stock Exchange Plc. Its shares have not been admitted, nor have any applications been made, for any of its shares to be admitted or traded on any other exchanges or trading platform.


Significant shareholders
Shareholder
Shares issued
% ownership
Po Valley Energy Limited
100,000,000
65.05%

Australia’s Po Valley Energy Ltd (ASX: PVE), which has oil & gas exploration, development and production interests in northern Italy, has announced an updated timetable for the spin-out of its subsidiary, Saffron Energy Plc (Saffron Energy) and anticipated listing later this month on London’s AIM market around 24 February.
The listing of Saffron, which will own one gas production (Sillaro) and two near-term gas production fields (Bezzecca (90%) and Sant’Alberto) near Milan and Bologna previously owned by PVE, includes a A$4 million IPO capital raising to primarily fund accelerated development of all three gas field assets.


Company Profile
Po Valley Energy Limited (PVE) is an emerging Oil&Gas exploration and development Company with an expanding portfolio of hydrocarbon assets in northern Italy.
 
The Company owns and operates two gas treatment plants, with more gas and oil developments to come.

Po Valley was the first E&P Company to bring new production to the Po Valley region since the end of the ENI-Agip monopoly and the liberalisation of the Italian gas market in 1998.
 
The Company, listed on the Australian Stock Exchange on 14 December 2004 and through its subsidiaries Northsun Italia S.p.A and Po Valley Operations Pty Ltd, holds 12 licence areas, encompassing 2,000 sq kilometers (494,200 acres).
 
Having operated in Italy for the past 10 years, the Company is experienced in Italy's regulatory process and has successfully managed each stage of the exploration and production business.
The Company's presence in Italy and local management team represents significant competitive advantage not enjoyed by newer entrants seeking to find success in the Italian market.
 
Po Valley has continued to grow its portfolio of assets at a very low cost relative to other oil and gas companies, providing the basis for future shareholder value creation. Italy remains an attractive market with gas and oil being of high quality, an accessible and low cost transportation network and a pricing environment that has been stable and higher than other comparable European countries.
 
Strategically, therefore, the Company is well positioned for accelerating and sustaining growth.

Answers my question - Why the aim market and not the ASX market?


we have a huge investment base to drive this company forward

I watched this , went for me cuppa and they bang it up 10% . These cuppa's cost me .

Did you buy any ?

No dream , there's tremendous buying going on here though .

I personally think they were too cheap.

Extension offtake agreement with Shell
RNS
RNS Number : 3433Z
Saffron Energy PLC
14 March 2017
 
 
 
14 March 2017
Saffron Energy plc
("Saffron Energy", the "Company" or, together with its subsidiaries, the "Group")
 
Northsun Italia S.p.A. ("Northsun") - subsidiary of Saffron Energy - extends offtake agreement with Shell Energy Italia
 
 
Natural gas developer and producer Saffron Energy (AIM:SRON) announces the extension of the natural gas offtake contract between its Italian subsidiary Northsun and  Shell Energy Italia S.r.l. ("Shell Energy Italia")- a subsidiary of Shell- for energy commodity trading and marketing.
 
The contract has been extended to 1 October 2018, with an option to extend for a further year to 1 October 2019, and provides for offtake of gas supply for all of the Group's Italian gas fields.
Gas produced from the Company's fields is transported directly into the Italian national grid, which is owned and operated by SNAM Rete Gas S.p.A.
 
Michael Masterman, CEO of Saffron Energy, commented:  "The contract signed with Shell Energy Italia is a key element for our business, as we continue to have a buyer in line for the gas produced from our future assets, a benefit for the Company's cash flow.
Northsun Italia S.p.A., the Group's wholly-owned Italian subsidiary, has been supplying Shell Energy Italia with natural gas for a period of 4 years, with a contractual formula that allows the Company to mitigate the market risks. The Italian market is considered a premium pricing market compared with other international markets, with the spot price now trading at around EUR 19.44 cent per cubic metre.
The Italian gas market is robust and attractive due to the high-quality gas produced, an accessible low-cost transportation network, paired together with a pricing environment that has been stable and higher than other comparable European countries: spot gas prices have risen significantly over the last 12 months from €14 cent per cubic metrer to around € 20 cent per cubic metre.
Selling our gas on the Italian gas market allows us to take advantage of the premium prices of this market. Shell's networks supply gas throughout Italy."
 
Michele Petz, Country Lead & Commercial Manager of Shell Energy Italia, said: "This extended agreement confirms the leading role of Shell Energy Italia as off-taker for independent gas producers in the Italian market."
 
According to the SNAM Rete Gas ten-year network development plan 2015-2024, Italy consumed 2.2 tcf in gas in 2014, which is expected to grow at 2.1% per annum until 2024. Of this, only 231 bcf (0.2 tcf), or 11%, was produced domestically, with the remaining 2.0 tcf imported from countries in the Mediterranean area.

BMD Target 12p-15p.

A good recovery today.

Bezzecca completed on schedule and within budget
RNS
RNS Number : 1451A
Saffron Energy PLC
22 March 2017
 
22 March 2017
 
Saffron Energy Plc
("Saffron" or the "Company")
 
Bezzecca completed on schedule and within budget
 
Saffron Energy plc (AIM: SRON), the onshore natural gas producer with interests in northern Italy, is pleased to confirm it has achieved mechanical completion of the Bezzecca natural gas project outside Milan within budget and on schedule. Certificates for mechanical and instrumentation completion have been issued and safety and performance testing is underway.
 
The Bezzecca project includes the Bezzecca gas field, the 7.5km newly constructed tie-in pipeline, the Vitalba gas plant and national grid connection.
 
The Bezzecca gas field is an approved production licence located east of Milan within the established gas-producing Po Valley region in northern Italy. Gas from Bezzeca 1 will be processed at the Vitalba processing plant.
 
An offtake agreement for gas supplied from all the Group's Italian gas fields is in place with Shell Energy Italia S.r.l. Gas produced from the Company's fields is transported directly into the Italian national grid, which is owned and operated by SNAM Rete Gas S.p.A.
 
The next key step will be the inspection by Italian Ministry of Economic Development (the "Ministry") and the Lodi and Cremona fire brigades, which is expected to occur in early April.   Following a satisfactory inspection, the Ministry will then issue approval to start the first commercial natural gas production and revenue.
 
Final Ministry approval to commence gas production is expected in early April 2017. The Company will update the market when this final milestone occurs.
 
 
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
 
For more information, please visit www.saffronenergy.co.uk or contact the following:
 

On course , great. :-))

A few starting to see a good buying opportunity.

Back above 8p.

Clearly being held back.

Northsun Italia 2016 Results
RNS
RNS Number : 4814B
Saffron Energy PLC
04 April 2017
 
 
4 April 2017
 
Saffron Energy Plc
("Saffron" or the "Company")
 
Northsun Italia 2016 Results
 
Saffron Energy plc, the AIM listed natural gas producer and explorer with interest in northern Italy (AIM: SRON), announces the financial results for Northsun Italia Spa ("NSI") for the financial year to 31 December 2016. Saffron acquired 100% of NSI in January 2017 and subsequently completed an IPO of Saffron Energy on AIM on 24 February 2017.
 
Investors should note that a number of restructuring transactions mentioned in the document were completed in the period from December 2016 to February 2017 and these are set out in detail in the Company's AIM Admission Document.
 
During the period:
-    In September 2016, NSI entered into a construction contract for the Bezzecca gas field
-    Production from the Sillaro gas field for 2016 was 4.4m cubic meters (gross) and, in December 2016, NSI acquired the remaining 35% of the Sillaro gas field it did not already own.
 
Subsequent to 31 December 2016, NSI has:
-    Been acquired by Saffron, which then completed a £2.5m capital raising on 24 February 2017
-    Completed construction of the Bezzecca gas field
-    Extended its offtake agreement with Shell Italia to 1 October 2018
-    Repaid approximately €470k of short term shareholders' loans used to advance construction of Bezzecca and Sant'Alberto
 
Chief Executive Officer of Saffron Energy, Michael Masterman commented: "The results for NSI in 2016 reflect the now historic fully completed restructuring and associated asset value alignments that had to be undertaken in preparation for the successful IPO of Saffron Energy which was completed in February. Revenues and cash flows are expected to increase substantially with Bezzecca commencing production in April 2017 and Sant'Alberto at the end of 2017. Saffron is now in excellent shape going forward."
 
A full copy of the Northsun Italia Consolidated Financial Statements for the year ended 31 December 2016 is available on the Company's website at www.saffronenergy.co.uk and an extract of the Consolidated Financial Statements for the year ended 31 December 2016 is presented below.
 
Please click to view the Saffron Energy AIM Admission Document - https://saffronenergy.co.uk/investors/aim-rule-26/
 
About Saffron Energy PLC
Saffron Energy is a natural gas producer with interests in Northern Italy. Its portfolio includes one gas production (Sillaro), one near-term gas production field (Bezzecca (90%)) and an application for a near-term gas production field (Sant'Alberto), all near Milan and Bologna. Saffron Energy commenced trading on the London AIM Market under the ticker of SRON on 24 February 2017.