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Coro Energy PLC - London-based gas explorer - Says its Italian portfolio grew gas production by 69% to 1.6 million standard cubic meter in the second quarter of 2022 from 945,100 scm in the previous quarter. Revenue amounted to €1.6 million in the period, up 86% from €859,900, quarter-on-quarter. Revenue for the first half totals €2.4 million, while production totals 2.6 million scm. Says the production increase in the second quarter reflects a restart of production in March, as well as ‘various production enhancement initiatives.’
Notes the continued momentum in domestic Italian natural gas prices into July 2022, which could result in higher monthly revenue at current levels.
Current stock price: 0.30 pence
12-month change: up 5.7%
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