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

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.

1st April investor show presentation

News must be soon, on gas flowing.

BMD reckons gas is flowing.

Final approval for first gas at Bezzecca
RNS
RNS Number : 2876C
Saffron Energy PLC
12 April 2017
 
 
12 April 2017
 
Saffron Energy Plc
("Saffron" or the "Company")
 
Final approval for first gas at Bezzecca
Saffron Energy plc (AIM: SRON), the natural gas producer with interests in northern Italy, is pleased to announce that it has received the final approval from the Italian Ministry of Economic Development (UNMIG) for gas production at the Bezzecca gas field on 11 April 2017. Commissioning and gas production will commence in the coming days.
Bezzecca is located east of Milan within the established prolific, gas-producing Po Valley region in northern Italy and operated by Saffron's subsidiary Northsun Italia SPA (NSI). Gas from Bezzecca 1 is processed at the Vitalba processing plant and directly connected by the national grid.
Chief Executive Officer of Saffron Energy, Michael Masterman commented: "We are extremely excited to be announcing first gas at Bezzecca as it represents a significant commercial and financial milestone for Saffron coming within 7 weeks of the successful IPO. It will significantly increase the overall Saffron gas production and strengthen our position and portfolio."
 
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.
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.

TW recommends sell and all the sheep follow.

He did the same for RRL. Just hope the sp re-gains the loss of today.

If TW says sell it means its a buy!

I thought he had gone into hiding!😀

I'm sure he was buying. :-))

First Gas flows at Bezzecca
RNS
RNS Number : 5439C
Saffron Energy PLC
18 April 2017
 
 
18 April 2017
 
Saffron Energy Plc
("Saffron" or the "Company")
 
First Gas flows at Bezzecca
Saffron Energy plc (AIM: SRON), the natural gas producer with interests in northern Italy, is pleased to announce that first gas production from the Bezzecca gas field commenced on Thursday 13 April 2017.   Commissioning and ramp-up leading to anticipated flow rates in the range of 30,000-40,000 scm per day, equivalent to 190-250 barrels of oil equivalent per day (boepd) will continue today following a short shut down over the Easter break.
 
Production from Bezzecca is sold at a price of approximately €0.21 per scm which equates to €190-€250k per month in revenue, on production of 30-40,000 scm.
 
Reservoir performance will be evaluated during the current quarter on each of the three perforated levels and steady state production is expected mid-year. When combined with the Company's production from the Sillaro gas field, which alone is producing 10,000 scm per day, Saffron expects net production from its Italian assets to increase over four times its current production to 40-50,000 scm per day (approximately 250-315 boepd).
Bezzecca is located east of Milan within the established prolific, gas-producing Po Valley region in northern Italy and operated by Saffron's subsidiary Northsun Italia SPA (NSI). Gas from Bezzecca 1 is processed at the Vitalba processing plant.
 
Saffron has an offtake agreement with Shell Energy Italia S.r.l. for the gas produced from the Company's fields, which goes directly into the Italian national grid, owned and operated by SNAM Rete Gas S.p.A.
 
Chief Executive Officer of Saffron Energy, Michael Masterman commented: "First gas at Bezzecca is a significant financial milestone for Saffron coming within seven weeks of the successful IPO.  It has been completed on time and on budget and represents a great technical, financial and management achievement for the Company and shareholders. The commencement of production will boost revenues and operating cash flows consolidating our portfolio and provides further validation of the Company's strategy.
 
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.
 
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.

Reading the boards - A lot of not very happy investors.

Happy to wait.

Hi everyone, I have been looking at this company last few days and has caught my
interest,has anyone here done the sums on what Saffron are making per month or
annually at moment and what it could be after the work program has finished ? I'm
trying to evaluate the true value here compared to the market cap....it would be
good if one of the holders here could post some figures on this and may also help
others waiting on sidelines.Im not lazy its just I have not been able to find any
real info anywhere ( probably because its a new float ).

Many Thanks in advance !

Hi oxygene ,
Post 40 explains most of what you have asked. The company will have about a £3m a year revenue. Silaro is already producing 10,000 SCM/ Standard cubic meters per day.
I think the IPO was to cheap, at I think 5p.So traders have sold into the news, with a good profit.

From twitter - Turner and Pope seem to be the big sellers in the background.