Coro Energy (CORO)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

 0.28p
   
  • Change Today:
      0.000p
  • 52 Week High: 0.75p
  • 52 Week Low: 0.24p
  • Currency: UK Pounds
  • Shares Issued: 2,111.62m
  • Volume: 1,559,818
  • Market Cap: £5.86m
  • RiskGrade: 570

Coro Energy enters Indonesian market with Lengo acquisition

By Iain Gilbert

Date: Monday 03 Sep 2018

LONDON (ShareCast) - (Sharecast News) - Coro Energy has signed binding conditional agreements with AWE and HyOil for its first Indonesian acquisition.
The AIM-listed group will purchase of a 42.5% interest in the Lengo gas field's shallow water Bulu production sharing contract in East Java, marking its entry into Indonesia.

Coro will issue HyOil with as many as $4m worth of shares and will pay AWE roughly $8m in cash to cover the purchase price, cost reimbursement and other working capital adjustments.

Lengo was reported to contain independently certified gross 2C resources of 359bn cubic feet of recoverable dry gas and gross 3C resources of 420bn cubic feet, representing an additional upside.

Coro's chief executive James Menzies, said, "This first Indonesian acquisition provides Coro with a strong initial platform on which to progress our South East Asian growth strategy; it has been crucial for us to find the right asset on which to build, and being an asset with solid, proved gas resource base together with substantial technical and commercial upside, I believe this transaction delivers that."

As of 0940 BST, Coro shares had shot up 9.03% to 4.16p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Coro Energy Market Data

Currency UK Pounds
Share Price 0.28p
Change Today 0.000p
% Change 0.00 %
52 Week High 0.75p
52 Week Low 0.24p
Volume 1,559,818
Shares Issued 2,111.62m
Market Cap £5.86m
RiskGrade 570

Coro Energy Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
23.62% below the market average23.62% below the market average23.62% below the market average23.62% below the market average23.62% below the market average
20.99% above the sector average20.99% above the sector average20.99% above the sector average20.99% above the sector average20.99% above the sector average
Price Trend
97.8% below the market average97.8% below the market average97.8% below the market average97.8% below the market average97.8% below the market average
97.83% below the sector average97.83% below the sector average97.83% below the sector average97.83% below the sector average97.83% below the sector average
Income Not Available
Growth Not Available

Coro Energy Dividends

No dividends found

Trades for 29-Jul-2021

Time Volume / Share Price
10:06 1,199,635 @ 0.27p
09:29 360,183 @ 0.28p

Coro Energy Key Personnel

CEO Mark Hood

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