Coro Energy (CORO)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

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

Coro Energy to conduct joint technical study with Petronas

By Josh White

Date: Monday 10 Dec 2018

LONDON (ShareCast) - (Sharecast News) - Coro Energy announced on Monday that it has agreed to conduct a joint technical study over Block 2A, offshore Malaysia, with with Petroliam Nasional Berhad, which trades as Petronas.
The AIM-traded firm said that under the terms of the study, it would have permission to conduct an "extensive" technical analysis of the acreage.

Thereafter, Coro would have the option to apply for a production sharing contract for the block, subject to the approval of Petronas.

Block 2A is located in offshore Sarawak, Malaysian Borneo, with the block yet to be drilled, located in a deepwater area.

The nearest discovery is located around 70 kilometres to the east of the block.

Coro said work to date on the block had identified a number of "very large" structural closures at prospective levels, consistent with known regional plays in the "prolific" part of the basin.

The board described the Central Luconia Province as "one of the most prolific" hydrocarbon basins offshore Malaysia, which is home to "numerous" large and giant oil and gas fields.

It said the early shallow water gas discoveries in the 1970's and 1980's resulted in the commissioning and subsequent expansion of the world-scale Bintulu LNG plant.

More recently, the province had been a "standout" exploration success story in southeast Asia, having seen a string of successful exploration results from the deeper water, resulting in multi-Tcf volumes of gas being discovered during the past five years.

"We would like to thank Petronas for giving Coro the opportunity to work on this exciting acreage," said Coro chief executive officer James Menzies.

"This is a fantastic opportunity for Coro to use its technical skills in firming up these very large structural leads to drillable prospects using the very high quality data now at our disposal."

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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 0.75
52 Week Low 0.24
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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